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Angola central bank governor eyes move towards kwanza float

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Angola’s central bank may begin the process of fully floating its kwanza currency in three months’ time, the bank’s governor Jose Massano said, according to daily O Pais on Monday. This month the bank ditched a currency peg and moved to a partial float that allows the kwanza to trade freely within a range set, but not disclosed, by the ...

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IMF cuts South Africa’s growth forecast for next two years

Pedestrians walk past the International Monetary Fund headquarters' complex in Washington Sunday, May 2, 2010. A senior International Monetary Fund official says the IMF's executive board is meeting in Washington to consider how much aid to grant Athens under a massive rescue loan package. (AP Photo/Cliff Owen)

The International Monetary Fund cut South Africa’s economic growth forecast for the next two years on Monday, citing rising political uncertainty that has dented investor confidence. The IMF said in its World Economic Outlook that more subdued growth prospects were projected in South Africa, “where growth is now expected to remain below 1 percent in 2018–19, as increased political uncertainty ...

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Ethiopian Airlines Partners with Zambian Government to develop Lusaka as an aviation hub for Southern Africa

"Sahara" taxing via Quebec for take-off, Runway 23, Toronto

Ethiopian Airlines, the largest Aviation Group in Africa and SKYTRAX certified Four Star Global Airline, is pleased to announce that it has finalized the shareholders’ agreement with the Government of Zambia for the re-launch of Zambia Airways. The Government of Zambia will be the majority shareholder with 55% and Ethiopian will have 45% stakes in the airline. Mr. Tewolde Gebremariam, ...

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South Africa: Risks inhibit cut as SARB leaves rates unchanged – FNB

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Following the South African Reserve Bank’s decision earlier today to keep interest rates unchanged, FNB confirms that it will maintain its prime lending rate at 10,25% and will review its position after the next SARB MPC meeting in March. FNB CEO Jacques Celliers says, “After a positive but sluggish performance by the SA economy in 2017, we start the new ...

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South African central bank holds repo rate at 6.75%

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South Africa’s central bank kept its benchmark repo rate unchanged at 6.75 percent on Thursday, saying that risks to the inflation forecast were still assessed to be on the upside. The majority of analysts polled by Reuters last week had predicted the repo rate would stay on hold. Central bank governor Lesetja Kganyago told a news conference that five members ...

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South Africa’s rand steady as markets await Zuma’s fate

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South Africa’s rand was steady in early trade on Monday, buoyed by uncertainty after Cyril Ramaphosa, the new leader of South Africa’s ruling African National Congress, said queries about President Jacob Zuma’s fate would be addressed “as time goes on”. * At 0645 GMT, the rand traded at 12.36 per dollar, unchanged from its New York close on Friday. * ...

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Zimbabwe state diamond company to lift output 65% in 2018: minister

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Zimbabwe’s state diamond company is expected to produce at least 3 million carats this year, up 65 percent from 1.8 million in 2017, the mines minister told parliament on Monday. Winston Chitando said the Zimbabwe Consolidated Diamond Company, which was formed in 2016 when the government banned private companies from operating in the Marange diamond fields, will start selling gems ...

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South African regulator reviewing volatile share trading

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A South African market regulator said on Friday it was reviewing volatile share trading sparked by market speculation that a research group would release a negative report on a listed firm. The regulator confirmed in an emailed response to questions it was reviewing unusual activity in shares of Aspen Pharmacare, which plunged 10 percent on Tuesday, prompting the company to ...

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Zambia shuts three of Shoprite’s Hungry Lion restaurants

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Zambia has shut three of South African retailer Shoprite’s Hungry Lion fast-food restaurants after their food tested positive for the bacterium that causes cholera, a government minister said on Thursday. Zambia is struggling to contain an outbreak of the disease, which has killed 51 people and made more than 2,000 others sick in the capital Lusaka. The outbreak was initially ...

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