Africa 

Tanzania records slow economic growth in first quarter of 2019

Tanzania’s economic growth slowed to 6.6% year-on-year in the first quarter of 2019 from 7.5% in the same period a year earlier, official data showed on Sunday, weighed down by softer construction, agriculture and manufacturing activity. A leaked report from the International Monetary Fund said earlier this year that Tanzania’s economy has not been expanding as fast as official figures… Read More
Africa 

Sudan says 87 killed when troops broke up protest, critics say too low

KHARTOUM (Reuters) – The head of an official Sudanese investigation said on Saturday 87 people were killed when security forces broke up a protest on June 3, a figure that prompted demonstrations across the capital as opponents of Sudan’s military rulers dismissed it as far too low. Fath al-Rahman Saeed, the head of the investigative committee appointed by the public… Read More
Africa 

South African court approves $353 million class action settlement

A Johannesburg High Court on Friday approved a 5 billion rand ($353 million) class action settlement between gold mining companies and law firms representing thousands of miners who contracted the fatal lung diseases silicosis and tuberculosis. The settlement follows a long legal battle by miners to win compensation for illnesses they say they contracted over decades because of negligence in… Read More
Africa 

AfDB boss challenges African gov’ts to create jobs

The African Development Bank (AfDB) has challenged governments in Africa to play a leading role in providing jobs for Africans. President of the AfDB, Akinwumi Adesina said this at the 5th Tony Elumelu African Entrepreneurship forum in Lagos, Nigeria on Saturday. “We have market failure, the current market system doesn’t provide financing to them (population of Africa), and you have… Read More
Africa 

Fitch downgrades South Africa’s credit rating

Ratings agency Fitch downgraded the outlook for South Africa’s sub-investment credit rating on Friday, citing fiscal pressures including increased support for struggling state firms such as the power utility Eskom. South Africa’s public finances are under huge strain as economic growth has proved weaker than expected while a handful of state companies have needed large government cash injections. The government… Read More
Africa Business Ghana West Africa World 

Ghana spends over $1 billion on electricity subsidies?

Ghana’s government is reportedly spending over $ 1 billion on electricity subsidies. According to a close associate of the country’s President, the government is spending excessively just to keep “lights on.” Power consumers in Ghana continue to get frustrated by power outages despite a new consortium taking over it’s power distributor. Power Distribution Services, PDS Ghana Ltd under Philippines Meralco… Read More
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