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Djibouti to launch digital currency

The Central Bank of Djibouti will soon launch its digital currency, the state-run television (RTD) announced. The Bank’s Governor, Ahmed Osman Ali, said the project falls in the framework of the modernization plan of Djibouti’s financial system, being conducted with the support of the World Bank. With the digital currency, Djibouti will fully take advantage […]

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Zimbabwe issues $50mln treasury bond to finance irrigation

Zimbabwe’s government plans to issue a three-year $50 million bond to finance irrigation infrastructure in the Southern African nation, the state-run Herald newspaper reported. “The Government of Zimbabwe is issuing an irrigation infrastructure Treasury Bond with a face value of $50 million to contribute towards Command Agriculture through funding of development of irrigation infrastructure,” it […]

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Gabon: Government to create 30,000 jobs by 2019

Gabonese authorities on Monday unveiled plan to create about 30,000 jobs in various fields over the period 2017-2019 under the Economic Recovery Plan (ERP), local media reported. The jobs will focus on digital economy, infrastructure, mining, hydrocarbons, agriculture, forestry, tourism, among others. This plan is in line with the objectives of the Gabonese authorities, which […]

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South Africa’s April inflation falls to 5.3 percent

Consumer Price Inflation (CPI) decelerated from 6.1 percent, year-on-year in March to 5.3 percent in April, Statistics South Africa announced on Wednesday. The South African Central Bank, which is due to announce its latest interest rates this week, targets annual CPI of between 3 percent and 6 percent. Food and non-alcoholic beverages decreased from 1.5 […]

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Africa’s economy to grow by 3.4 % in 2017 – Report

Africa’s economy will grow by 3.4 percent in 2017, and 4.3 percent in 2018. The modest recovery from the worst performance in more than two decades last year will be driven by better oil production and commodities. This came in an Economic Outlook report, co-authored by the African Development Bank, the Organization for Economic Cooperation […]

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Cape Verde boosts economic ties with China

Chinese Foreign Minister Wang Yi this weekend announced major development projects in Cape Verde as the two nations are looking to further deepen bilateral ties. Visiting the West-African Archipelago, Wang Yi told reporters that the two countries agreed to work towards developing the Island’s marine economy. China welcomes Cape Verde to participate in the “Belt […]

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Chinese firm to build 120-MW wind farm in Ethiopia

China’s Dongfang Electric Corporation will build a 120-megawatt (MW) wind farm in Ethiopia’s Somali regional state, Chinese state-run news agency reported on Thursday. According to PR and Communication Director of the Ministry of Water, Irrigation and Energy, Bizuneh Tolcha, the project will be launched by the coming July. “The wind farm project is expected to […]

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Botswana: World Bank backs $ 145.5 mln water projects

The World Bank has approved $145.5 million loan to Botswana for water projects in the southern African nation, Kenneth Matambo, Minister of Finance, said. According to the minister, the project was prepared in response to the 2015-2016 El-Nino related droughts, which was rated extremely severe and considered the worst in the last 34 years. The […]

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Angola’s inflation slows to 34.8 percent

Angola’s inflation slowed to 34.8 percent year-on-year in April, data from the national statistics agency’s website show on Wednesday. According to the Agency, price in the oil-rich nation increases on a month-on-month basis slowed 1.8 percent in April compared to a 1.91 percent previously. Angola’s government last month indicated that inflation this year would ease […]

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Nigeria to fund budget deficit with foreign loans, Eurobonds

Nigeria will raise $3.5 billion in foreign loans including from international lenders and debt markets to fund the West African nation’s 2017 budget deficit, Reuters reported. According to the Budget Office Director General Ben Akabueze,  $2 billion of the foreign borrowings would come from concessionary loans with the balance of $1.5 billion from commercial markets […]

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