Africa news

The flow of Foreign Direct Investment (FDI) into Morocco amounted to MAD 7.8 billion during the first four months of 2017. This is compared with 7.4 billion a year earlier, marking an increase of 4.5 % according to the Foreign Exchange Office in a note on the preliminary indicators of foreign trade of April 2017.

South Africa is back in recession for the first time since 2009.

Congo Republic inaugurated a $109 million hydroelectric dam constructed by China Gezhouba Group Co Ltd on Monday, in a boost to the oil-producing country’s agriculture and forestry sectors, the government said.

Ghana and Mali have pledged to work to strengthen cooperation between the two countries. In a joint communiqué issued at the end of a day’s working visit to Mali by President Nana Addo Dankwa Akufo-Addo last Sunday, the two countries agreed to reinforce their co-operation in the areas of trade, agriculture, security and the process of West African integration.

Mauritian banks are becoming beacons of growth and stability in sub-Saharan Africa. Unscathed by the vagaries of the oil price and unhindered by the political battles that have roiled some of their continental peers, the Indian Ocean island’s lenders have been bolstered by an economy growing faster than many of the mainland countries.

The International Monetary Fund has urged Zimbabwe to rein in its spending to bring its ballooning deficit back down to a sustainable level.

Zambia's economy to grow 4 percent in 2017, 5.2 percent in 2018 -govt official

The World Bank has revealed that Nigeria faces the prospect of fragile economic recovery in 2017 given the high degree of fragility and risks from future shocks to the oil price or further unrest in the Niger Delta region.

Samsung has emerged as the number one most admired brand in Africa. The company grew its brand value by 13 percent. This progress can be credited to Samsung's expedient recall and customer service solutions.

Rwanda has once again topped the East African region on the Africa Competitive Index published on May 04 by the World Economic Forum in collaboration with the World Bank and the African Development Bank.

Canadian base metals producer Nevsun Resources has found more mineralisation at its flagship Bisha mine and satellite deposits in Eritrea, in the Horn of Africa.

Burkina Faso, Africa’s top cotton grower, sees output rising by as much as 20 percent to 820,000 metric tons in the 2017-18 season which starts this month, an industry official said.