Economy | - Part 52

Economic Growth in Sub-Saharan Africa Rebounds to a Projected 2.6% in 2017

LAGOS (Capital Markets in Africa) – Sub-Saharan Africa experienced a slowdown in investment growth from nearly 8% in 2014 to 0.6% in 2015, according to the new Africa’s Pulse, a biannual analysis of the state of African economies conducted by the World Bank. This sluggish investment has coincided with a sharp deceleration in economic growth in Africa, the World Bank said in a report on Wednesday. In this issue of the Africa’s Pulse, a special…

Kenyan Economy Expands at Fastest Pace in Five Years in 2016

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s economy, East Africa’s largest, expanded at the fastest pace in five years in 2016, boosted by more construction and tourism. Gross domestic product increased 5.8 percent last year, the most since 2011, from a revised 5.7 percent in 2015, Kenya National Bureau of Statistics Director General Zachary Mwangi told reporters Wednesday in Nairobi, the capital. Expansion could have been more robust had it not been for a sluggish…

Tunisia’s economy to see recovery in 2017, Prime Minister Says

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TUNIS (Capital Markets in Africa) – Tunisia’s economy will start to regain momentum this year after six years of slow growth, driven by the revival of the vital tourism industry and the return to state phosphate production, Prime Minister Youssef Chahed said. Chahed was speaking in an interview with state television late on Sunday, addressing concerns about the economy after hundreds of youths protested over the last week in some towns, demanding development and employment….

Ghana’s 2017 Budget: Hope of A New Dawn, Or Illusion?

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ACCRA (Capital Markets in Africa) – Ghana’s 2017 budget statement outlined an ambitious first step towards transforming the structure of the economy. The budget, christened: “Sowing the Seeds for Growth and jobs” is grounded within the framework of the Ghana Shared Growth and Development Agenda II (GSGDA II) and within the context of the Extended Credit Facility (ECF) with the IMF. The budget targets accelerated and inclusive growth through a modernized agriculture sector, private sector-led…

World Bank cuts Kenya’s 2017 growth forecast to 5.5 percent

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NAIROBI (Capital Markets in Africa) – The World Bank cut Kenya’s economic growth forecast for this year by half a percentage point on Wednesday to 5.5 percent, citing drought, sluggish private sector credit growth and rising prices of oil. The country is estimated to have expanded by 5.9 percent last year, the highest annual expansion in half a decade. But the outlook has been hit by months of dry weather, that left 2.7 million people in…

February’s Inflation Trends Across the African Continent

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LAGOS (Capital Markets in Africa) – Angola’s consumer inflation edged down to 39.45% year-on-year in February from 40.39% in January, data from the statistics office showed. On a monthly basis, consumer prices increased 2.59% compared to 2.25% in January. Botswana’s consumer inflation quickened to 3.4% year-on-year in February from 3.1% in January. Prices rose 0.2% month-on-month compared to 0.4% previously, Statistics Botswana stated. Burundi’s year-on-year inflation rate climbed to 20.7% year-on-year in February from 12.9% in…

Tanzania’s economic growth slowed by policy uncertainty, credit squeeze

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DAR ES SALAAM (Reuters) – Uncertainty over government policies and a slowdown in the private sector cut Tanzania’s gross domestic product growth to an estimated 6.9 percent in 2016 from 7.2 percent the previous year, the World Bank said on Tuesday. Growth is still supported by substantial government investment in infrastructure, including a standard gauge railway, new roads and expanding the ports. But investors have been unnerved by unpredictable policies from the government of President…

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