Tag Archives: economy

Khartoum, Sudan | AFP | President Omar al-Bashir on Thursday fired Sudan’s Foreign Minister Ibrahim Ghandour, state media reported, after he said that Sudanese diplomats abroad had been unpaid for months. In a speech to lawmakers on Wednesday, Ghandour, who negotiated the lifting of decades-old sanctions with Washington in October 2017, …

Luanda, Angola | AFP | Angola on Thursday passed a law scrapping rules that previously forced foreign investors to partner with local firms, as President Joao Lourenco tries to revive the oil-dependant economy. Lourenco has vowed to pull in foreign investment after he succeeded Jose Eduardo dos Santos, who had ruled …

Harare, Zimbabwe | AFP | Zimbabwe warned Thursday that a string of strikes threatened efforts to revive the economy after the ousting of Robert Mugabe, as a stand-off with striking nurses deepened. The government on Tuesday sacked the majority of 15,000 nurses who started industrial action this week shortly after …

Tripoli, Libya | AFP | Fuel smuggling is costing Libya more than $750 million each year and harming its economy and society, the head of the National Oil Company in the conflict-riddled country said. “The impact of fuel smuggling is destroying the fabric of the country,” NOC president Mustafa Sanalla …

How progressive is Uganda’s tax code for an economy that has been hurting since 2016? COMMENT | MORRISON RWAKAKAMBA |  As we approach the 2018/2019 Financial Year and the statecraft colour that comes with it – the State of the Nation address and reading of the national budget; the dress rehearsals …

Kampala, Uganda | THE INDEPENDENT | The World Bank projects Sub-Saharan Africa to garner an economic growth of 3.1 percent in 2018, and increase of over one percent from 2017. Recent data in the Africa Economic Update released Wednesday afternoon point to a moderate strengthening of economic growth in early 2018. …

Governor projects 6.5% economic growth in three years but private sector concerns remain Kampala, Uganda | JULIUS BUSINGE | On April 09, the Bank of Uganda Governor, Emmanuel Tumusiime-Mutebile, arrivedat the Bank’s conference room on the 7th Floor to announce the Monetary Policy Statement for Aprilpast the usual time, 12:00pm. The …

How declining global labour costs and increasing robotics are conspiring against manufacturing there COMMENT | OTAVIANO CANUTO | In emerging markets, manufacturing has historically been a source of productivity, growth, and jobs. Since the 1950s, industrialisation has kept economies in Latin America, Asia, and Eastern Europe on a steady glide toward …

Lusaka, Zambia | AFP | International lenders and markets are growing increasingly concerned about “hidden debt” in Zambia, a situation similar to the one that plunged neighbouring Mozambique into a deep financial crisis. For several weeks financiers have demanded answers about the level of the country’s true external borrowing — …

Dubai, United Arab Emirates | AFP | Dubai is splashing tens of billions of dollars on infrastructure and hospitality projects related to the international trade fair Expo 2020, Dubai-based BNC Network said in a report published Sunday. The value of Expo-related projects underway hit $42.5 billion in March, according to …