Category Archives: Business & Finance

US-African Trade Lagging Despite Free Access, Forum Hears

Trade between the United States and sub-Saharan Africa is in the doldrums despite a 2000 U..S law designed to boost access the American market, a conference in Ivory Coast has been told.

The African Growth …

Hopes Fade as South Africa’s Unemployment Hits Record High

Lucky Nonyane is a qualified plumber and building inspector with two decades of experience. At one time, he said, he earned a good enough living to buy a car and to help out his now-grown …

Chinese Firms to Build Gold Smelter, Refineries in Tanzania

Tanzania said on Wednesday it had awarded licenses for the construction of a mineral smelter and two gold refineries to Chinese firms, as part of government efforts to generate more revenues from the nation’s mining …

Kenya’s Finance Minister Arrested, to Be Charged With Fraud

Kenya’s finance minister has been arrested on charges of fraud and corruption over contracts for the construction of two dams in western Kenya, a top police official said Monday.

Finance Minister Henry Rotich gave statements …

Zimbabwe’s Foreign Currency Ban Spurs Demand for Cryptocurrency

Zimbabwe’s ban on foreign currency, and the country’s soaring inflation, have spurred demand for cryptocurrencies like bitcoin to try to preserve wealth; however, Zimbabwean authorities last year banned banks from processing bitcoin and warn cryptocurrencies …

Central Africans Express Mixed Reactions to Continental Free Trade Area

Analysts and businesspeople in the six-member Central African Economic and Monetary Community say that although the African Continental Free Trade Area launched in Niger last Sunday at an African Union summit brings hope for pan …

Africa Launches Free Trade Pact

Africa is about to enter into what could be an era of peace and prosperity with the official launch of a continental trade agreement.

Nigeria — Africa’s biggest economy — and Benin signed on to …