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Connecting Africa to Broadband: A Roadmap for Inclusive Growth
October 17, 2019--STORY HIGHLIGHTS
A new report says around $100 billion will be needed to achieve universal access to broadband connectivity in Africa by 2030
The report calls for urgent action to close the internet access gap while providing a roadmap and action plan for reaching this objective
This report, one of the first to quantify the cost of bridging the broadband gap in North and Sub-Saharan Africa, is the first deliverable of the Broadband Commission Broadband for All Working Group
What will it take for Africa to connect an additional 1.1 billion people online by 2030 and bridge the connectivity gap? A new report launched today at the World Bank/IMF Annual Meetings estimates the cost of closing the digital divide at around $100 billion or close to US$9 billion a year. The challenge shouldn't be underestimated. In Sub-Saharan Africa, about a third of the population remains out of reach of 3G networks compared to about 2 percent in North Africa.
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Source: World Bank
JSE buoyed by firmer close in Asia
October 16, 2019--The JSE took a leaf from the Asian markets trading session as it closed firmer on Wednesday.
This contrasted with trends in Europe and the USA where stocks eased from prior session highs as doubts started to creep in over Brexit and US earnings.
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Source: FIN24
Resources set tone for the local bourse
October 14, 2019--The JSE also shrugged off earlier momentum from Chinese markets which rallied on the optimism of a partial trade deal.
The rand held on to its gains as it peaked at a session high of R14.72/$ before it was recorded trading 0.01% firmer at R14.79/$ at 17:00.
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Source: FIN24
East Asia and Pacific: Growth Slows as Trade Tensions and Global Uncertainties Intensify
October 10, 2019--Growth in developing East Asian and Pacific economies is expected to slow from 6.3 percent in 2018 to 5.8 percent in 2019 and to 5.7 and 5.6 percent in 2020 and 2021, respectively, reflecting a broad-based decline in export growth and manufacturing activity.
Weakening global demand, including from China, and heightened uncertainty around ongoing US-China trade tensions has led to a decline in exports and investment growth, testing the resilience of the region, according to Weathering Growing Risks, the October 2019 edition of the World Bank's East Asia and Pacific Economic Update, released today.
view moreview the World Bank East Asia and Pacific Economic Update Weathering Growing Risks, October 2019
Source: World Bank
Renewed trade talks fail to lift JSE sentiment
October 9, 2019--The JSE retreated on Wednesday despite a broad-based rebound across the major global markets on the back of positive news from Chinese officials
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Source: FIN24
Global Uncertainty Continues to Slow Growth in Africa's Economies
October 9, 2019-Initiatives to empower poor people, girls and women are essential to progress
Growth in Sub-Saharan Africa remained slow through 2019, hampered by persistent uncertainty in the global economy and the slow pace of domestic reforms, according to the 20th edition of Africa's Pulse, the World Bank's twice-yearly economic update for the region.
Overall growth in Sub-Saharan Africa is projected to rise to 2.6 percent in 2019 from 2.5 percent in 2018, which is 0.2 percentage points lower than the April forecast. This edition of Africa's Pulse includes special sections on accelerating poverty reduction and promoting women's empowerment.
view the World Bank Africa's Pulse, No. 20, October 2019 : An Analysis of Issues Shaping Africa's Economic Future
Source: World Bank
Nigeria: Nigeria Stock Market Indices Slump Further By 0.45%
October 8, 2019--Activities on the nation's bourse resumed for the week on Monday still on negative territory with crucial market indicators dropping further by 0.45 per cent.
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Source: allafrica.com
JSE slips as trade concerns spread
October 8, 2019--The local bourse eventually closed softer on Tuesday despite opening flat.
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Source: FIN24
IMF Staff Concludes Visit to Nigeria
October 8, 2019--A slow economic recovery is continuing, inflation is falling, and external buffers are declining in the face of increased portfolio outflows.
Elevated fiscal deficits rely on central bank financing, which complicates monetary policy.
Action on a coherent and coordinated set of policies is urgently needed to reduce vulnerabilities and increase growth over the medium term.
An International Monetary Fund (IMF) staff team led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, visited Lagos and Abuja from September 25 to October 7, 2019 to discuss recent economic and financial developments, update macroeconomic projections, and review reform implementation.
view the IMF Staff Concludes Visit to Nigeria
Source: IMF
Rand weakens on report China may play hardball with US
October 7, 2019--The local currency fell on news China may be reluctant to accept comprehensive trade deal with the Trump administration.
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Source: FIN24