insert_link Business / Economics IMF projects Namibia’s GDP growth to slow to 3.6% in 2024 The International Monetary Fund forecasts that real GDP growth in Namibia will slow to 3.6% in 2024, owing to global macroeconomic headwinds and tight monetary conditions. The fund released its World Economic Outlook Update on 16 July 2024. Similarly, the African Development Bank forecasts a decline in GDP to 3.3% for both 2024 and 2025, driven by weak global demand and a contraction in agriculture. todayJuly 17, 2024 6
insert_link Africa Kenya protests show citizens don’t trust government with their tax money: can Ruto make a meaningful new deal? By Eric Magale, University of Pretoria and Mario Schmidt, Max Planck Institute for Social Anthropology Each year, the Kenyan government tables a finance bill outlining measures for funding the national budget. In the past, these bills have scarcely attracted public attention. This changed dramatically in 2023, with President William Ruto’s first budget following his election victory the year before. Ruto inherited an economy battling […] todayJuly 17, 2024 9
insert_link Business / Economics Namibia Ranks 9th in Africa for AI Readiness, IMF Report Reveals According to the 2024 report by the International Monetary Fund, Namibia ranks 9th on the African continent in terms of preparedness for the adoption of Artificial Intelligence.Local Digital Expert Nrupesh Soni weighs in. todayJuly 17, 2024 10
insert_link Africa Tunisia sets date for Presidential election Tunisia is set to hold presidential elections on Oct. 6, a vote that may prove a litmus test for democracy in the North African country whose populist leader has seized sweeping powers and cracked down on dissent. The state-run TAP news agency reports that President Kais Saied issued an order Tuesday setting the date, with the election commission due to convene later this week to approve a calendar and rules for candidates. […] todayJuly 3, 2024 5
insert_link Africa Zambia gets funds from IMF as drought takes toll The International Monetary Fund has agreed to immediately disburse $569.6 million to Zambia, boosting the country’s foreign exchange reserves as it deals with its worst drought in almost 60 years. Bloomberg reports that the money includes an augmentation of $385.7 million. The funds will assist Zambia’s drought relief measures. todayJune 27, 2024 10
insert_link Africa Zambia begins debt restructuring process Zambia’s international bondholders should quickly complete the restructuring of the notes after the government announced the start of the process, says International Monetary Fund Managing Director Kristalina Georgieva. Bloomberg Africa reports that the government of Africa’s first pandemic-era sovereign defaulter will meet eurobond investors on June 4th to ask them to approve exchanging what’s grown to almost $3.9 billion of debt for new instruments. todayMay 14, 2024 5
insert_link Business / Economics 22 April 2024 Morning Biz News: MortgageMarket Expands Horizons: Launches Operations in Namibia, Spearheading Accessible Home Loans Beyond South Africa MortgageMarket, a pioneering online home-loan marketplace platform based in South Africa, has embarked on an ambitious expansion strategy by launching operations in Namibia. Founded in 2019 by Tim Akinnusi, a seasoned banking executive, the platform has revolutionized the process of securing financing for property acquisitions, catering to the needs of customers, property developers, and estate agents alike. The move into Namibia marks a significant milestone for MortgageMarket, as it extends […] todayApril 22, 2024 17
insert_link Africa Kenya’s shilling is gaining value, but don’t expect it to last – expert By Odongo Kodongo, University of the Witwatersrand Shortly after Kenya’s 2022 elections, the shilling depreciated rapidly against the US dollar – the country’s main currency for international transactions – fuelling a wave of political discontent. More than a year later, the Central Bank of Kenya, taking its cue from the International Monetary Fund, said that the run on the shilling was a market correction for a […] todayApril 17, 2024 6
insert_link Business / Economics Saudi Arabia pledges support to Pakistan The Pakistan foreign office on Monday announced that Pakistan and Saudi Arabia have reiterated their dedication to accelerate an investment package worth $5 billion previously discussed. This reaffirmation came one day after Prime Minister Shehbaz Sharif met with Saudi Crown Prince Mohammed bin Salman. Separately, the Diplomat reports that in the recent discussions, Riyadh might have encouraged Pakistan to regain financial stability by entering into an arrangement with the International […] todayApril 9, 2024 23
Paying it forward: Kenyan coastal doctor Bashrahil Mohammed Mafudh has made it his life’s work to care for the most vulnerable in his community, at no cost.
