Author Archives: Africa Business
Botswana: Positive prospects for the diamond sector could lead to somewhat higher rates of GDP growth in 2017-19
IMF Staff Concludes 2017 Article IV Visit to Botswana
- Positive prospects for the diamond sector could lead to somewhat higher rates of GDP growth in 2017-19. Fiscal projections envisage moderate deficits this year and the next, with surpluses thereafter.
- Tax revenue reforms need to be accelerated to protect public finances against any adverse developments and maintain the country’s track record of sound fiscal management.
- The inflation rate remained low, close to the lower band of the Bank of Botswana’s inflation objective range of 3–6 percent.
A team from the International Monetary Fund (IMF) led by Enrique Gelbard visited Gaborone from May 1-16 for discussions on the 2017 Article IV Consultation with Botswana. The discussions covered recent developments and prospects and focused on policies to support continued economic stability and promote inclusive growth. At the end of the visit, Mr. Gelbard issued the following statement:
The Islamic Corporation for the Development of the Private Sector (ICD) signs MoU with China-Africa Development Fund to boost infrastructure investment and growth in selected African countries
At the side lines of the landmark IsDB 42nd Annual Meeting in Jeddah, a memorandum of understanding (MoU) was signed between the Islamic Corporation for the Development of the Private Sector (ICD) (ICD-ps.org), the private sector arm of Islamic Development Bank (IDB) Group and China-Africa Development Fund (CADFund) (CADFund.com), a Beijing-based private equity firm and subsidiary of the China Development Bank which focuses on Africa.
Almost half of all deaths globally are now recorded with a cause, new data from the World Health Organization show, highlighting improvements countries have made on collecting vital statistics and monitoring progress towards the Sustainable Development Goals (SDGs).
Growing news across oil exporting countries have been unpleasant. This Monday, Russia and Saudi Arabia announced that they request a nine month OPEC output cut extension. Following that Kuwait and Oman has joined Russia and Saudi Arabia – the two largest producers among the 24 producers who earlier agreed to cut output in 2018 for an extension.
South Africa: Radical economic transformation receives a boost with more than R20m industrial park in Mthatha
Government’s radical economic transformation received a boost with the launch of the Vulindlela Heights Industrial Park in Mthatha, Eastern Cape.
IMF Staff Completes 2017 Article IV Visit to Zimbabwe
- The economy is facing difficulties as a severe drought and slow reform momentum have led to high expenditure levels since late 2015, despite subdued revenues.
- Spending pressures stem from high employment costs, government transfers to support specific economic sectors, and elevated discretionary expenditure.
- The team recommends taking action to unleash the potential of the private sector and ensure that growth benefits the most vulnerable segments of the population.
An International Monetary Fund (IMF) team led by Ana Lucía Coronel visited Zimbabwe from May 2 to 13, 2017, to hold discussions with the national authorities, private sector representatives, and civil society in the context of the 2017 Article IV Consultations. The discussions covered recent economic developments, the outlook and risks, as well as policies that could restore economic stability.
The Blue Home water system sweeps multiple awards at the Red Dot Award. The water system has been remarkably known as one of the most innovative systems in design and efficiency. Developed by GROHE – a leading provider of sanitary fittings and water products, the Blue Home water system cuts drinking water costs by at least 50 percent and reduces carbon emissions by 61 percent compared to bottled water. The award is one of the most coveted awards honoring exceptional design performance and GROHE swept way five of these proud awards.
Africa accounts for 45 percent of the world’s surface area suitable for agricultural production. Even with some large arid and semi-arid areas, the continent’s vast water resources are, on average underutilized, with only about 2-3 percent of renewable water resource in use, compared to five percent worldwide. Africa is also home to an abundant supply of labour for agriculture-related products and services.
Transition to more decentralized and intelligent energy systems are driving market opportunities, finds Frost & Sullivan’s Energy & Environment team
Business growth remains high on the African boardroom agenda despite economic and socio-political headwinds
PwC’s Africa Business Agenda report shows that 85% of African CEOs (Global: 85%) are confident in their own company’s prospects for revenue growth over the next 12 months