Economy

Asia, Africa sign MoU to strengthen economic ties

The Asian Infrastructure Investment Bank (AIIB) and the African Development Bank (AfDB) have signed a memorandum of understanding to strengthen collaboration on sustainable economic development.

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Kenya's fresh produce export earnings jump in 2017

Kenya earned 115.25 billion Shillings ($1.15 billion) from exports of cut flowers, fresh fruit and vegetables last year, 11% more than in the previous year, an industry association said on Thursday.

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Nigeria plans power tariff overhaul by 2021

Nigeria plans to overhaul its energy tariff system by 2021 to try to attract investment and improve power supply, the vice chairperson of the country’s electricity regulator said.

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Tanzania names officials for new mining commission

Tanzanian President, John Magufuli, on Wednesday appointed a chairperson and commissioners for the country’s new mining commission, paving the way for the issuance of new mining licences.

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Nene leads SA delegation at IMF, World Bank meetings

Finance Minister, Nhlanhla Nene, is leading the South African delegation to the bi-annual meetings of the International Monetary Fund (IMF) and World Bank in Washington.

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Oil theft 'costing Libya over $750 million annually'

Fuel smuggling is costing Libya more than $750 million each year and harming its economy and society, the head of the National Oil Company in the conflict-riddled country said.

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DeBeers rolls out app to clean up Sierra Leone diamond supply chain

Global diamond giant De Beers is rolling out an app to help small-scale, artisanal diamond miners in Sierra Leone certify that gems they pry from the soil are legal, the Anglo American unit said on Thursday.

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Rand extends gains after strong data

South Africa’s Rand inched higher early on Thursday, building on gains in the previous session that were driven by better-than-expected inflation and retail data.

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Zimbabwe elections critical for economic growth: Biti

Zimbabwe’s elections, scheduled to take place this year, will be the most important in a generation and critical to restoring democracy and economic growth in the southern African nation that was dominated by one party since independence in 1980.

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AfDB signs millions line of credit with Kenya's KCB Bank

The African Development Bank (AfDB) and Kenya's KCB Bank have signed a $100 million line of credit to be used for lending to businesses including small and medium enterprises, the two said on Thursday.

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