Africa Business The opportunities for building a sustainable future for Africa are at least as great as the challenges, writes Christian Toben, Head of Financial Institutions for Emerging Markets at Commerzbank. Here, he discusses some of the positive initiatives that are helping to drive forward the continent’s ESG agenda and the crucial role of financial institutions…
The Zimbabwean Census data released by neighboring South Africa this week showed the country was home to 1.01 million Zimbabwean immigrants last year, up from 672,308 at the last count in 2011 and an average annual increase of almost 31,000. Emigration data released for the first time by Zimbabwe’s statistics agency in September last year…
Reuters News Nigeria’s annual inflation rose to 26.72% in September from 25.8% in August, its bureau of statistics said on Monday. Food and non alcoholic beverages were the biggest contributors to the rise in inflation, the bureau said. President Bola Tinubu has been under pressure to ease economic hardship after scrapping a costly decades-old petrol…
Reuters The South African rand strengthened in early trade on Monday as tensions in the Middle East underpinned the price of oil and put the dollar on the back-foot. At 0628 GMT, the rand traded at 18.9500 against the dollar , about 0.4% stronger than its previous close. The dollar eased 0.1% against a basket…
Reuters News The South African rand was little changed in early trade on Thursday before the release of local mining, manufacturing and business confidence data later in the day. At 0636 GMT, the rand traded at 18.8325 against the dollar , the same level as its previous close, after making strong gains on Tuesday and…
Reuters News South Africa’s manufacturing output rose 1.6% year on year in August after rising by a revised 2.2% in July, statistics agency data showed on Thursday. Factory production was up 0.5% month on month in August, after falling by a revised 1.7% in July.
ZAWYA Africa’s total exports are set to reach around $952 billion by 2035, as regional trade grows and connectivity expands, according to a new report. Once the African Continental Free Trade Area (AfCFTA) agreement is fully implemented, exports could further grow by 29%, representing an annual growth rate of 3% from now until 2035, Standard…
WAM (Emirates News Agency) MARRAKESH: Standard Chartered has today published its Future of Trade: Africa report, highlighting the outlook for African trade and providing a view of the African Continental Free Trade Area (AfCFTA) as a key proponent of optimising intra-African trade. The report finds that Africa’s total exports will reach USD952 billion by 2035…
ZAWYA Sub-Saharan Africa growth is projected to decline to 3.3 percent in 2023 before picking up to 4.0 percent in 2024, the International Monetary Fund said in its October 2023 World Economic Outlook (WEO) report that was released on Tuesday. The estimates are lower compared to IMF’s forecasts in July, when it said the region…
Arab Finance Arab Finance: Egypt is looking forward to establishing a factory for manufacturing electric buses and trucks in Borg El-Arab, Alexandria, in cooperation with Belarussian companies, a statement by the Ministry of Trade showed on October 10th. This has been discussed during a meeting between Minister of Transport Kamel Al-Wazir and the Belarusian Ambassador to…
