United Nations Secretary-General, Ban Ki-moon, and World Bank Group President, Dr. Jim Yong Kim, will make an official one-day visit to Uganda on Friday. The trip to Uganda is part of a historic joint three country visit to Africa's Great Lakes region from May 22 – 24 in support of a recent landmark peace agreement and to push for economic development in one of the world's most troubled regions. While in ...

The Namibian government and a Brazilian energy firm on Tuesday announced the first discovery of oil off the coast of Namibia, although not in commercial volumes. Reporting findings from an exploratory well in the Walvis Basin off the southwest African country's central coast, Rio de Janeiro-based HRT said there were promising signs. The company discovered "two well-developed source rocks" and "several ...

Economists from central banks and other financial institutions are being trained by the West African Institute for Financial and Economic Management (WAIFEM) in Banjul, The Gambia to reinforce their understanding on the working of the economy. The weeklong training is to prepare the economists to appropriately intervene in any uncertain economic environment. The regional course on the fundamentals of ...

Inflation - the rate at which the prices of goods and services increase - in The Gambia is forecast to increase more than the target 5%, primarily because the national currency, the Dalasi, continues to weaken in value against all major international currencies, the Central Bank Governor Amadou Colley explained.The Governor was speaking on Monday at the opening of the weeklong training ‘regional course on ...

South African Labour Minister Mildred Oliphant has appealed to the leadership of both unions in Lonmin to put the interests of the country and workers first, APA can report Sunday.Expressing concern at the troubling events that are unfolding in Lonmin's Marikana mine, which have led to the downing of tools and a disruption of productivity, Oliphant urged both sides of the dispute to show maturity in settling ...

For Bethlehem Tilahun, the answer to ending poverty in Africa is not aid or sympathy or donations from the West. It's shoes. Specifically, building a successful shoe manufacturing business that creates jobs, empowers employees, like the one she founded -- SoleRebels, the first ever global footwear company to come out of a developing country. "You don't build your economy based on aid, you want to build your ...

There is no shortage of cash or credit in Angola -- Africa's second oil producer -- but the struggle small businesses face to get loans is stimying efforts to diversify the economy. According to the central bank there was more than $22 billion in credit issued in Angola last year, around a fifth of total economic output. A fledgling banking sector, prodded by the government to make loans available for ...

The Tanzanian Health minister on Friday accused a private Tanzania Pharmaceutical Industries (TPI) Ltd of selling fake anti-retrovirals to national drug-providing company, saying that he cannot ascertain for sure whether the fake product was made in the company's plant or no.The Health ministry has in a statement written in Swahili pointed out taht TPI Ltd, formerly owned by the State, has sold fake ...

The South African cabinet has approved the country's ratification of the Sanitary and Phytosanitary (SPS) Annex to the Southern African Development Community (SADC)'s Protocol on Trade and for it to be submitted to Parliament soon, APA has learnt.Acting Cabinet spokesperson Phumla Williams said on Thursday that "the SADC Protocol on Trade to which South Africa has acceded to serves to promote regional ...

The South African Cabinet on Thursday expressed concern at the strike at Lonmin's platinum mine in Marikana in the North West Province, the scene of last year's police fatal shooting of 34 miners.The cabinet made the call amid rising tensions following the downing of tools on Tuesday by workers associated with Association of Mineworkers and Construction Union (AMCU), who are demanding the closure on the ...