Reuters News Zimbabwe is targeting economic growth of 3.6% next year, down from an earlier target of 5.3%, due to drought conditions, its Finance Minister Mthuli Ncube said on Wednesday.
Reuters News South African private sector activity fell in October after holding steady in September, hurt by weak customer demand and high fuel prices, a survey showed on Friday. The S&P Global South Africa Purchasing Managers’ Index (PMI) fell to 48.9 in October from 49.9 in September, moving further below the 50-point line that separates…
Reuters South Africa is accelerating plans for 3 gigawatts (GW) of gas-fired power generation to help to plug an energy deficit that is hurting the economy, electricity minister Kgosientsho Ramakgopa said on Sunday. Africa’s most developed economy is facing daily power cuts because of regular breakdowns at state power utility Eskom’s ageing coal-fired plants, with…
Reuters Egypt’s central bank, as widely expected, left its overnight interest rates unchanged on Thursday, saying it was focused on future rather than present inflation and that economic growth appeared to have been stable in the July-September quarter. The central bank’s Monetary Policy Committee (MPC) left the lending rate at 20.25% and the deposit rate…
Reuters News South Africa’s lower revenue forecasts over the next two years and growing spending pressures from state-owned companies and social relief grants increase the risk of deterioration in the government’s balance sheet, Moody’s said on Thursday. The key elements of South Africa’s mid-term budget, announced on Wednesday, were broadly in line with expectations, the…
Bizcommunity.com Decades of consistent investment in infrastructure have been instrumental in fostering and preserving a robust base of engineering expertise within South Africa, particularly among consulting engineers. Andrew van Zyl, managing director of SRK Consulting, emphasises the pivotal role of consulting engineers in upholding exacting standards in project planning and execution. These professionals offer highly…
Bizcommunity.com South Africa’s freight and logistics market is expected to grow rapidly in the coming years, driven by the growth of e-commerce and development in outlying areas. The market is expected to contribute $21.53bn to the economy in 2023, while online retail sales are expected to contribute more than double that amount at $46bn within…
Agence France-Presse (AFP) Working as a nurse in her rural Nigerian village, Andat Datau faced more than her share of challenges. But delivering babies by torchlight was always hard. Off-grid for years, her Sabon Gida village relied on diesel generators or lamps and, like millions of other Africans, Datau often got no light at all….
Reuters JOHANNESBURG, Oct 30 (Reuters) – The South African rand rose on Monday at the start of a data-heavy week that includes the government’s midterm budget statement. At 1505 GMT, the rand traded at 18.8000 against the dollar, more than 0.3% stronger than its previous close. Meanwhile, the dollar last traded down 0.4% against a…
Bizcommunity.com For some years, South Africa’s mining industry has been in decline. Diminishing reserves, a drop in commodity prices, currency fluctuations, energy reliability, and deteriorating infrastructure have all played a part. From a GDP contribution of over 20% in 1980, the sector contributes just 8% today. This doesn’t spell the end of the industry, but…
