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IMF Sets Conditions For Zimbabwe To Start Receiving Financing

The International Monetary Fund (IMF) has said that Zimbabwe needs to clear its debt with other creditors for it to start receiving financing from the Bretton Woods institution. Zimbabwe cleared its arrears with the Fund but owes the African Development Bank and the World Bank a combined US$2 billion. Responding to a question by the […]

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Zimbabwe Establishes Monetary Policy Committee in Stability Bid

Zimbabwean Finance Minister Mthuli Ncube has established a Monetary Policy Committee in his latest attempt to stabilise an economy in freefall. The former economics professor, appointed last year to get the economy out of a two-decade rut, named a nine-member panel consisting of academics, bankers and the governor and two deputy governors of the nation’s […]

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World Bank Gives Plaudits To Somalia’s Meteoric Rise Economically

The World Bank has backed Somalia’s economy to grow above expectations for the next three-to-five years, if the country can sustain its current economic reform momentum. The Horn of Africa country has been in turmoil since 1991, when clan warlords overthrew President Siad Barre and then turned on each other. Over the past decade it […]

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Zimbabwe Dollar Tumble Pushes Up Price Of Bread

The price of bread was on Tuesday morning raised from $7.00 to $9.70, a hike of about 48 per cent. The Bakers Association of Zimbabwe did not reveal the reason behind the latest round of increase. The fall in the value of the Zimbabwean dollar over the past few weeks has been cited as the […]

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Kenyatta Makes Extensive Tour of Development Projects in South Coast

President Uhuru Kenyatta made an extensive tour of several development projects in parts of Kwale County, Saturday. Accompanied by Chief of Defence Forces Gen. Samson Mwathethe, the President visited the Shimoni fish landing site which the government through the Kenya Ports Authority is in the process of upgrading into a modern fishing port complete with […]

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Nigeria’s Robotics Engineer Adekunle Shuts Down Business In UK

Nigeria-born Silas Adekunle has shut down Reach Robotics, the Bristol, United Kingdom-based consumer robotics company, that he co-founded a few years ago. He said he’s going to focus on new things. Adekunle made the announcement on LinkedIn. One of the Co-founders John Rees confirmed that “the decision has been made to close the business and […]

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Japanese Company To Invest In 6 Projects In Zimbabwe – Report

A Japanese company has expressed interest in Zimbabwe after singing an MOU(memorandum of understanding) with the government yesterday The Herald reports. Afro Japanese Business Consultant, the Japanese company interested in Zimbabwe is eyeing these sectors. Mthuli Ncube and The President oversaw the signing of the MOU. Speaking after the signing of the MOU, the President […]

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Mnangagwa Criticised For Praising Japan’s TICAD At China’s Expense

MDC supporter and constitutional law expert, Alex Magaisa, has criticised Mnangagwa for not understanding geopolitical and economic dynamics when he described the just ended Seventh Tokyo International Conference on African Development (TICAD7) as the “first common platform to discuss African development”. According to Magaisa, this would fly in the face of China whose Forum on […]

DRC: Cobalt Production Halted

The consequences to ending Cobalt production in the southern part of the Democratic Republic of Congo, one of the world’s largest mines have a major impact on the country’s economy and on the population . This is a major blow to the employment sector in the Democratic Republic of Congo with the cessation of cobalt […]

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Nigeria targets smuggling with ‘partial closure’ of Benin border

Nigeria has announced the “partial closure” of its border with Benin to clamp down on the smuggling of goods, above all rice, into the country. The West African powerhouse is targeting “massive smuggling activities, especially of rice, taking place on that corridor”, the presidency said in a statement on Wednesday (Aug 28). Nigeria is heavily […]

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Zimbabwe: Zim Undeterred By Western Hostility: VP Mohadi

Acting President Kembo Mohadi says it is a matter of time before nations that are hostile to Zimbabwe realise that they are wrong and unfair to the Southern African country. Speaking after meeting the outgoing UN Ambassador to Zimbabwe, Mr Bishow Parajuli in Harare this morning, Cde Mohadi said it is unfortunate that some western […]

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Sisi Will Head 7th TICAD in Japan: Japan’s Prime Minister

The Seventh Tokyo International Conference on African Development (TICAD) will kick off Wednesday in Yokohama, Japan, headed by Egyptian President Abdel Fattah al-Sisi and Japanese Prime Minister Shinzo Abe. Spokesperson for the Egyptian Presidency Bassam Rady said that the conference will run from August 28 to 30, under the joint presidency of Japan and Egypt, […]

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Zim, Rwanda Sign Mining Agreement

Government, through the Ministry of Mines and Mining Development, yesterday signed a Memorandum of Understanding (MoU) with Rwanda that will see the two countries cooperating and exchanging experiences from the extractive industries to develop their respective mining sectors. Mines and Mining Development Minister Winston Chitando signed on behalf of the Government, while Rwanda’s Mines, Petroleum […]

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Nigeria: Edo’s 6,000 bp/d Modular Refinery Set to Begin Operation

The Edo Refinery and Petrochemicals Limited, says it will soon commence operation at its 6,000 barrels per day (bpd) modular refinery before the end of the year. The project which is located at Ologbo, Ikpoba/Okha local government area, is partly sponsored by the Edo State Government and is being developed by AIPCC Energy Limited. The […]

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Dipo Faulkner Emerges Nigeria’s President of American Council

The American Business Council, ABC, has elected Dipo Faulkner as the President of the country’s American Business Council, ABC, and Chairman of the Board of Directors for the Council. The appointment of Faulkner, who is the General Manager of IBM West Africa, takes effect from 1st of August, 2019. ABC is the voice of the […]

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Kenyan Businesses Seek Trade Ties With Angola

Mt Kenya University says it is considering setting up e-campuses in Angola, to tap into growing government-to-government links between Nairobi and Luanda. At the Kenya-Angola Trade and Investment Conference 2019 last week, Dr Vincent Gaitho, the Vice-Chairman of MKU said the institution wants to ride on recent bilateral policies that have started to open up […]

AfDB approves $98m grant for Ethiopia road project to Djibouti

The African Development Bank (AfDB) has approved a $98 million financial package for Ethiopia for a road transport corridor project to neighbouring Djibouti, it said late on Tuesday. The project’s total cost is $255 million, comprising an AfDB grant of $98 million to Ethiopia’s government and an AfDB grant of $5.3 million to Djibouti’s government, […]

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United States Grants Zimbabwe US$45 Million for Drought Relief

The United States of America has announced a US$45 million donation to Zimbabwe towards the provision of food aid in the upcoming lean season between October 2019 and March 2020. The contribution was provided through the U.S. Agency for International Development (USAID) and will ensure that 360,880 rural households will have enough food to take […]