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Zimbabwe: Gold Reserves to Back Currency
July 28, 2017--Government is building diamond and gold reserves to back the local currency upon its re-introduction in future, Vice-President Emmerson Mnangagwa has said.
VP Mnangagwa refused to disclose when the local currency would be re-introduced, but said it would only come back when mineral reserves reached desired levels.
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Source: AllAfrica.com
SARB sees South Africa exiting recession
July 28, 2017--SA Reserve Bank chief Lesetja Kganyago says the country is expected to have emerged from its first recession for eight years during the second quarter of this year.
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Source: FIN24
JSE pulls back on profit-taking and in tandem with world markets
July 28, 2017--The major indices on the JSE have pulled back slightly in line with world markets, which also took a breather on the eve of latest US growth figures.
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Source: FIN24
SA mining industry on its knees as woes grow
July 27, 2017--South African mining companies are struggling to keep head above water amid legal uncertainty and a weak economy.
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Source: FIN24
JSE rises on Naspers boost and Fed rates statement
July 27, 2017--Share prices on the JSE have climbed again, jumping sharply in early trade but then moving sideways for the rest of the morning.
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Source: FIN24
Rand gains as Fed knocks dollar
July 27, 2017--The rand has received a welcome boost after dovish comments by US Federal Reserve chairperson Janet Yellen placed the dollar on the back foot.
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Source: FIN24
Nigeria's Infrastructure Investment Needs Hit U.S.$878 Billion
July 26, 2017--Nigeria has significant infrastructure investment gap put at $878 billion out of $97 trillion global needs, to address economic growth and existing shortfalls from now till 2040.
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Source: allafrica.com/
JSE continues positive momentum as gold stocks recover
July 26, 2017--All the major indices closed in the green, while the rand weakened slightly to R13.01 as the currency remains supported by recent dollar weakness.
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Source: FIN24
Resources rally pulls JSE higher
July 25, 2017--Resources emerged as the shining light on the JSE, keeping the overall index in the green.
Commodity prices were broadly higher, combined with the weaker rand, which slipped 0.68% to R13.03 at the close of the market.
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Source: FIN24
World Bank Review Reveals a Weakening of Policy and Institutional Performance in Africa
July 24, 2017--The quality of policies and institutions weakened in Sub-Saharan Africa in 2016 amid challenging economic conditions, according to the latest review by the World Bank. This weaker trend was observed in 40% of the region's IDA countries, notably commodity exporters and fragile states.
The review is the annual World Bank Country Policy and Institutional Assessment (CPIA) Africa analysis, which scores the progress Sub-Saharan African countries are making on strengthening the quality of their policies and institutions.
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Assessing Africa's policies and institutions: 2016 CPIA results for Africa
Source: World Bank
