Africa Business South Africa Southern Africa World 

South Africa’s recovery is on its way but downside risks remain

– – Following a robust recovery in 2021 after the Covid-19 pandemic (+4.9 percent), the GDP of South Africa is anticipated to continue expanding over the next two years, but at a slower pace. Analysts are expecting growth to increase by 1.8 percent in 2022, and by 1.3 percent in 2023 according to the latest OECD forecasts. But the South… Read More
Africa Business Ghana West Africa World 

Ghana goes back to the IMF for support amid economic distress

– – Ghana’s government has announced plans to seek support from the International Monetary Fund (IMF) as it continues to struggle with worsening economic conditions. The West African nation’s economy continues to plummet as it struggles to improve the living standards of citizens. The country’s public debt stock now stands at GH¢341.8 billion ($45.5 billion) with a corresponding debt to… Read More
Africa Business Featured Russia World 

Russia parries off Ukraine invasion blame for global economic crisis

– – The Russian government has rejected recent news reporting with the narrative that its invasion of Ukraine has led to a global economic crisis. Russia is currently engaged in a war with Ukraine, a move that has led to several sanctions being placed on the Eastern European super power. The International Monetary Fund has said that the economic damage… Read More
Africa Ghana West Africa World 

Ghana’s economy in crisis as citizens agitate over high cost of living

– – Ghana’s economy continues to plummet as it struggles to improve the living standards of citizens. The country’s public debt stock now stands at GH¢341.8 billion ($45.5 billion) with a corresponding debt to GDP ratio of more than 77% as of September ending 2021. Analysts say that debt to GDP ratio has already crossed the 81% mark in 2022… Read More
Africa Ghana West Africa World 

Ghana’s finance minister says Africa deserves more help for Covid-19

– – Ghana confirmed its first two COVID-19 cases on March 12; imports from Norway and Turkey. Africa has since recorded more than 1.5 million cases and counting, though, in terms of infections and deaths, we have fared better than most regions. Perhaps this is because of our youthful population, the natural social distancing of outdoor living and experience with… Read More
Africa Business Lesotho Southern Africa World 

Lesotho: Violence against women costs economy $113 million annually

– – A Commonwealth report has revealed violence against women and girls costs Lesotho more than $113 million (about 1.9 billion Lesotho loti) a year. The report estimates the total cost, including loss of income and expenses associated with medical, legal and police support, equates to around 5.5 per cent of Lesotho’s gross domestic product (GDP). The cost of $113 million means… Read More
Africa Business Ghana West Africa World 

IMF says Ghana’s GDP growth will hit 7% in 2019

The International Monetary Fund on Thursday said on Thursday that Ghana’s economic growth is expected to rise to around 7% this year. That increase from 6.3% in 2018 to 7% this year according to the IMF is boosted by the country’s extractive industries. In a statement IMF said Ghana’s exports oil, gold and cocoa, maintained macroeconomic stability since the conclusion… Read More
Africa Southern Africa World Zimbabwe 

Zimbabwe’s anti-sanctions campaign divides opinions

Zimbabwe’s government has launched a campaign to make unpopular what it considers foreign sanctions that have crippled the economy. Government officials and the ruling party, the Zanu-PF leaders have been projecting messages across all major media platforms including social media about the impact of these sanctions. They insist that sanctions particularly from the United States of America have made it… Read More
Africa Southern Africa World Zimbabwe 

Mnangagwa says Zimbabwe’s economy is “dead”

Zimbabwe’s President Emmerson Mnangagwa has described his country’s economy as “dead” as he promises to bring it back to life. On Tuesday Mnangagwa told the country’s parliament that Zimbabweans will have to be patient with him whiles he works hard to bring the economy back from the “dead”. Zimbabwe is facing serious economic challenges with surging inflation and lack of… Read More
Africa Business North Africa Sudan World 

Sudan in dire need of $10 billion to rebuild economy

Sudan’s new prime minister has said that the country needs up to $10 billion in foreign aid to rebuild it’s economy. Abdalla Hamdok says the money will be needed over the next two years to help fix an economy that is almost collapsing. Hamdok was sworn in as prime minister on Wednesday. He has vowed to tackle conflict and build… Read More