South African President Cyril Ramaphosa appointed a team of business and finance experts on Monday to hunt the globe for $100 billion in investment to boost the ailing economy.
The team of economic envoys includes ex-finance minister Trevor Manuel as well as a former top banker.
Ramaphosa became president in February...
Africa needs to take advantage of the economic potential of its ports and shipping sector if it is to realise its growth ambitions. Globally, ports are gateways for 80% of merchandise trade by volume and 70% by value. Investment in ports and their related transport infrastructure to advance trade...
Inflation in Sudan rose to 55.6 percent in March year-on-year from 54.34 percent in February, the state statistics agency said on Thursday, amid rising food prices that have kindled unrest and a hard currency shortage that has crimped imports.
Prices have risen since the pound plummeted to record lows on...
Zimbabwe has bought two Boeing 777 aircraft and an Embraer plane from Malaysia, the finance minister said on Wednesday, adding the planes would be leased to a new local airline until national carrier Air Zimbabwe returned to profitability.
Patrick Chinamasa said Harare had agreed with an unidentified Malaysian firm to...
The World Bank raised its forecasts for the South African economy on Tuesday but warned that growth potential would remain weak without concerted efforts to reduce inequality and stimulate competition.
The World Bank now sees gross domestic product growing by 1.4 percent this year, up from its September forecast of...
Nigerian President Muhammadu Buhari will be seeking a second term in office in elections due next year, his office has said.
It ends months of speculation about whether the 74-year-old leader plans to run for re-election.
His first term has been beset by poor health, which saw him spend months in...
Zambia’s economy is expected to grow by more than 4 percent this year helped by the mining, agriculture and construction sectors, Finance Minister Margaret Mwanakatwe said.
Economic growth in Africa’s second-largest copper producer rose to 4.1 percent last year, helped in part by higher commodity prices.
Officials had initially targeted at...
The African Development Bank (AfDB) has advised that it is time to process cocoa and produce chocolate in Africa, and to end the continent being at the bottom of global value chains.
AfDB said there is huge opportunity for Africa, the largest producer of cocoa in the world, to rake...
South African President Cyril Ramaphosa has ordered the country’s Special Investigating Unit (SIU) to probe allegations of maladministration at state run-power utility Eskom and logistics group Transnet, the government said on Friday.
Ramaphosa, who replaced former president Jacob Zuma in February, has made the fight against corruption a key plank...