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Namibia: Recession Hits Namibia

The Namibian economy has entered into a full recession after the Namibia Statistics Agency (NSA) announced on Thursday that the economy had contracted by 2,7 percent in the first quarter of 2017 compared to a 4,1 percent growth recorded in the corresponding quarter of 2016. The poor performance was mainly …

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South Africa Has Second Recession in Eight Years

Gross domestic product contracted 0.7% in first quarter Median of 19 economists’ estimates was for 1% expansion South Africa’s economy fell into a recession for the first time since 2009 after it contracted for a second straight quarter in the first three months of the year as all bar two …

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Democratic Gambia ‘is at a historical turning point’ – IMF Mission

A top International Monetary Fund (IMF) official, Ulrich Jacoby, has said the Gambia is at an economic turning point following the transition of power earlier this year. According to him, despite the challenges that lie ahead, concerted policy efforts plus the support from the international community will be key to …

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Nigerian musician Innocent Idibia donates $11,000 to UNHCR for humanitarian efforts

Nigerian music icon, Innocent Idibia – known by his stage name Tuface, has donated 3.5 million naira to the UN refugee office in the country. He has also disclosed that a charity concert will be held in June to help raise more funds. The funds which come up to over …

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The IMF Is Worried About the World’s $152 Trillion Debt Pile

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Eight years after the financial crisis, the world is suffering from a debt hangover of unprecedented proportions. Gross debt in the non-financial sector has more than doubled in nominal terms since the turn of the century, reaching $152 trillion last year, and it’s still rising, the International Monetary Fund said. …

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Mauritius: Economy ranked ‘most competitive’ in sub Saharan African

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Mauritius is sub Saharan Africa’s most competitive economy according to the latest ranking of ‘The Global Competitiveness Index,’ by the World Economic Forum (WEF). The country however ranks at number 45 on the global ladder of 138 countries with a score of 4.49, a step from their ranking last year. …

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