The time for Africa is now …. we can’t slow down, we must quicken the pace”: Adesina

India is the perfect place for the African Development Bank to focus on the transformative power of agriculture, Bank President Akinwumi Adesina has told the African, Indian and international press.“India is an inspiration to Africa, in that its Green Revolution took ... — Read More

Zimbabwe risks power cuts from S.Africa's Eskom over arrears - paper

South Africa's state-run power utility Eskom could cut supplies to neighbouring Zimbabwe by the end of this month if Harare fails to clear arrears, Zimbabwe's state-run Herald newspaper reported on Monday.Such a move could trigger widespread power cuts in an economy ... — Read More

Investing in West African mining for sustainable regional development

Over 80 West Africans who have previously attended Australian-funded mining courses met on 27 April in Accra to share knowledge and understanding of current challenges and opportunities in the region on attracting responsible mining investment and sustainable development.Mr John Peter Amewu, ... — Read More

IMF team in Cairo to review second instalment of $12-billion loan

An International Monetary Fund (IMF) delegation will arrive in Cairo on Sunday to review Egypt's progress on economic reforms before it disburses the second instalment of a $12-billion loan programme, the Finance Ministry said. The IMF delegation will stay until May ... — Read More

AfDB announces expansion of its African Bond Index

Zambia and Ghana join index family bringing transparency to the most liquid African bond markets The African Development Bank (AfDB) through the African Financial Markets Initiative (AFMI) launched its AfDB/AFMISM Bloomberg® African Bond Index (ABABI) in February 2015. Calculated ... — Read More

Sudan inflation hits 34.68 pct in March

Sudan's annual rate of inflation rose to 34.68 percent in March from 33.53 percent the previous month, as food and energy prices kept rising after subsidies were cut in early November, the Central Statistics Office said on Sunday.Sudan's economy has deteriorated ... — Read More

Nigerian interbank rate jumps on cash shortage

Nigerian interbank lending rates rose sharply by around 100 percentage points on Thursday, as commercial lenders scrambled for cash to pay for bond purchases and cover their positions, traders said.Overnight lending rates rose to around 300 percent from 200 percent at ... — Read More

Fitch downgrades big-five South African banks to junk

Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of five South African banks to ‘BB+’ from ‘BBB-‘. The banks affected are Absa Bank Limited, FirstRand Bank Limited (FRB), Investec Bank Limited (IBL), Nedbank Limited (Nedbank) and Standard Bank of ... — Read More

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