Economic Stability

ActionSA criticizes 2024 mid-term budget promises

ActionSA says the 2024 mid-term budget fails to meet the government of National Unity’s promises. Party representative Alan Beesley welcomed increased SARS funding but criticised the 1.1-percent economic growth projection, saying it falls short of the needed three-percent. Beesley argues that government neglects economic stability, keeping a bloated cabinet while essential services like policing, healthcare, and education suffer. He labels the budget’s priorities as misplaced, calling for urgent focus on […]

31 October, 2024 45

Africa

Nigeria’s Dangote Oil Refinery Holds 500 Million Litres of Petrol

Nigeria's Dangote oil refinery possesses a reserve of 500 million litres of petrol, according to its billionaire founder, refuting assertions from marketers that they require additional imports to address fuel shortages. CNBCAfrica indicates that, in response to the situation, Nigeria's President, Bola Tinubu, convened a meeting on Tuesday in Abuja with oil regulators, the head of the state-owned NNPC, the finance minister, and Aliko Dangote.

31 October, 2024 15

Environment

Bank of Namibia launches drought relief policy

The Bank of Namibia has introduced a new policy, effective from 23 October 2024 to October 2026, to address economic and financial challenges from the ongoing drought following the state of emergency declared by President Nangolo Mbumba in May. The central bank’s principal communications team leader, Sandra Garises.

28 October, 2024 43

Namibia

Cabinet Approves Key Initiatives in Drought Relief, Water Management, and Economic Stability

In a recent cabinet meeting, several key decisions were made to tackle pressing issues in Namibia. The Cabinet approved actions for drought relief, including a budget allocation and the enrollment of over 64,000 households. It emphasized the need to allocate 5% of the national budget for water management to meet Sustainable Development Goal 6. The Total Allowable Catch for rock lobster was set for the upcoming fishing season, and […]

18 October, 2024 29

Namibia

Growing BRICS could surpass the Economic Size of the G7

Opinion Piece by Josef Kefas Sheehama It is not surprising that the BRICS plus will usher in a new economic order if the group of seven (G7) does not pull up its shocks, as the group's expansion presents new economic opportunities for developing countries. There is no doubt that the establishment of the BRICS represented a major step forward in the long-term process of member countries' integration, both […]

4 September, 2024 46

Africa

Ethiopia’s bold economic reforms target stability and growth, but they come with risks

By Tsegay Tekleselassie, Wellesley College Ethiopia’s recent macroeconomic reforms, supported by the International Monetary Fund (IMF) and the World Bank, could have profound implications for the country and the region. The key reforms include the use of a floating exchange rate system and of interest rates as a policy tool. They were introduced just ahead of the approval of a financial package that could eventually amount to about […]

19 August, 2024 32

Africa

Smaller African economies are getting more investor attention

By Conrad Onyango, via bird story agency Small African economies are punching above their weight to emerge as the most attractive to investors, bolstered by their higher economic and personal freedoms. A new study, ‘The 2024 RMB Where to Invest in Africa report,’ shows that investors are looking beyond markets with big populations and larger economies. Instead, they are seeking destinations with higher levels of stability and […]

13 August, 2024 32

World

Bangladesh army chief announces interim government

Bangladesh's army chief Gen. Waker-uz-Zaman says an interim government will be formed and new elections called following the resignation of Prime Minister Sheikh Hasina. Student leaders have said that they will not accept a military-led government. Ishan Garg has more. Bangladesh's 'Gen Z revolution has managed to topple a veteran leader. CNN reports that the protest movement pitted mostly young student demonstrators against a 76-year-old leader who had dominated […]

6 August, 2024 37

Namibia

Namibia’s Rating Upgraded: Importance for the Country and Its People

By Josef Kefas Sheehama Periodically, the Namibian government establishes policies to address the unstable state of the economy. Encouraging economic growth requires policymakers to put in place measures that support investment, innovation, and entrepreneurship. Therefore, the government can assist in fostering an environment that is conducive to business and promotes employment and economic growth. As an Independent Economic and Business Researcher, I therefore wholeheartedly commend the […]

6 June, 2024 31