UK announces USD$100 million in Zimbabwe development loans

UK announces USD$100 million in Zimbabwe development loans

The UK’s development finance institution, CDC, and Standard Chartered Bank today announced an up to USD$100 million in investment funding to grow businesses in Zimbabwe – a move that heralds a new start for the country as the UK has long withheld support while awaiting economic and social reforms. The…

Thousands march in South Africa’s nationwide union strike

A nationwide general strike Wednesday in South Africa drew thousands of protesters, with marches in at least six cities including Johannesburg, Cape Town and Durban. The strike, coordinated by the South African Federation of Trade Unions (SAFTU), meant to “bring South Africa to a standstill” over the country’s economic plight,…

China scoffs at news of U.S. inquiry into its African influence

China has defended its role on the African continent, following word that United States lawmakers plan to investigate Beijing’s expanding footprint in African nations and across the globe. Devin Nunes, a Republican member of Congress from California and Chairman of the U.S. House Intelligence Committee, said Sunday that as part…

Mnangagwa to pitch Zimbabwe recovery plan at Africa CEO Forum

President Emmerson Mnangagwa of Zimbabwe has arrived in Côte d’Ivoire, where he was greeted by President Alassane Ouattara as both head for the Africa CEO Forum to be held Monday in Tuesday in Abidjan. Mnangagwa will present his plans for economic recovery, and with former Nigerian president Olusegun Obasanjo will participate…

Ramaphosa talks trade as Chinese envoy visits

South African President Cyril Ramaphosa on Friday welcomed Yang Jiechi, Special Envoy of President Xi Jinping of China, as he opened a two-day official visit in Cape Town. Ramaphosa said the re-election of President Xi presented an opportunity for South Africa to deepen its strategic cooperation with China at a…

Turkey’s Erdogan begins four-nation Africa tour in Algeria

President Recep Tayyip Erdoğan of Turkey began a tour of four African nations on Monday in Algeria, where he met with Prime Minister Ahmed Ouyahia to discuss cooperation on counterterrorism, energy, and economic development and trade. It is Erdoğan’s second visit to Algeria since becoming president in 2014 and he…

Namibia tightens up on travel, troops amid economic woes

A budget crisis in Namibia has forced the suspension of all international travel for ministers and elected officials through the end of February. It’s the latest announcement from President Hage Geingob as the southwestern African nation tightens up on government spending. “This directive is specifically in the interest of curtailing…

AfDB denies reports it has cut off $400 million loan to Nigeria

The African Development Bank (AfDB) said Tuesday that it has not decided to call off loans to Nigeria, countering widespread media reports that the support for the West African nation’s ailing economy was withdrawn. “The African Development Bank is highly encouraged by the economic recovery of Nigeria from recession and…

Nigeria’s Buhari heads to Niamey for ECOWAS currency meeting

President Muhammadu Buhari of Nigeria is headed for Niger to discuss progress on a long-awaited common currency for the region’s West African Monetary Zone (WAMZ). Buhari, along with Minister of Finance Kemi Adeosun and Nigerian Central Bank head Godwin Emefiele, leave Tuesday for Niamey along with other common currency task…