Mr Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN) said the apex bank will continue to review it’s polices to ensure that the best is achieved for the country’s economy. Emefiele said this in Nsukka on Saturday in a lecture titled “The Dilemma of Monetary Policy and Exchange Rate Management in a Recession: […]
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South Africa’s finance minister laid out an ambitious 14-point programme on Thursday to wrench the economy out of recession that included the sale of non-core assets and partial privatisation of state-owned firms. The plans to stimulate growth in the continent’s most industrialised economy appear to represent an ideological shift by the ruling African National Congress, […]
Read More South African President Jacob Zuma told parliament on Thursday the economy would come out of recession “quicker than we believe”, his first public comments since data showed Africa’s most industrialised economy was struggling. The country sank into recession for the first time in eight years in the first quarter, hit by weakness in consumer sectors […]
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Russian energy group Rosatom is a contender for South Africa’s nuclear expansion project and the country will award the contract by the end of the year, the chairman of the South African Nuclear Energy Corporation (Necsa) said on Monday. South Africa is planning to build 9,600 megawatts (MW) of nuclear capacity to wean itself off […]
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South Africa’s economy – one of Africa’s biggest – is in recession. A 0.7 percent decline in GDP in the first quarter of this year followed a 0.3 percent contraction in the last quarter of 2016, meeting the definition of a recession as two or more quarters of negative growth, the South African government said […]
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Nigeria has emerged one of the top five insurance markets in Africa, ranking fifth with overall market share of 85 percent of premiums in the continent. General-Secretary of the African Insurance Organization, AIO, Ms Prisca Soares at a press conference after the launching of the second Africa Insurance Barometer at the on-going 44th AIO Conference […]
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Six South African telecom companies, including MTN Group and Vodacom, will be able to keep their in-demand broadband spectrum until their licences expire in 2028 after agreeing to buy at least 30 percent of the government’s new Wireless Open Access Network, the communications minister said on Thursday. Minister Siyabonga Cwele told journalists an agreement was […]
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South Africa is proposing to put emergency “safeguard” tariffs on imports of certain flat hot-rolled steel products from July, it said in a filing published by the World Trade Organization on Thursday. The tariff would be in place for three years, and fall from 12 percent in the first year to 10 percent in the […]
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A new World Bank study on how Africa’s electricity providers can be profitable and still make electricity affordable at African Utility is expected to be unveiled in Cape Town, South Africa from May 16-18, 2017. The study which dwell mainly on the financial health of electricity utilities in Sub-Sahara Africa, showed that, “Rather than tariff […]
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South Africa’s tender for the estimated 1 trillion-rand ($72 billion) expansion of its nuclear power plants will begin in June when state utility Eskom requests proposals from companies bidding for the project, City Press newspaper reported on Sunday. South Africa, which has Africa’s only nuclear power station, wants nuclear power to play the leading role […]
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Foreign Affairs Minister Geoffrey Onyeama says Nigeria and South Africa have set up a 24-hour early warning system to protect Nigerians from unwarranted attacks. Onyeama said to newsmen at the forum in Abuja that Federal Government was ready to intervene. “Wherever any Nigerian is threatened or in difficulty, we will always intervene quickly, an example […]
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The South African rand plunged more than five percent after President Jacob Zuma sacked his finance minister, a man widely seen as a competent manager of one of the world’s most important emerging economies. Finance minister Pravin Gordhan was ousted and ten new cabinet appointments made in a dramatic reshuffle that could split the ruling […]
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