Rising dollar debts still a worry for Africa

*Govts advised to embrace local currency liabilities… Despite having a chunk of their dollar denominated debts written off in 2005, most African governments are still neck deep in foreign currency debts, which have been estimated to be rising to the $500 billion mark, according to Reuters. Analysts are worried that over a decade later, most […]

Microsoft set to deliver Microsoft Cloud from datacentres in Africa

Microsoft has revealed plans to deliver the complete, intelligent Microsoft Cloud for the first time from datacentres located in Africa. This new investment is a major milestone in the company’s mission to empower every person and every organisation on the planet to achieve more, a recognition of the enormous opportunity for digital transformation in Africa. […]

Zambian Central Bank cuts key rate as food prices set to fall

Benchmark policy rate is now at lowest level since 2015 Inflation was unchanged at 6.7% in April, lowest since 2013 The Bank of Zambia reduced its benchmark rate for the second straight time since its introduction five years ago as good rains improve prospects for lower food prices in coming months. The central bank cut […]

Zambia expects $1.6 billion IMF deal to be sealed before July

Zambia will conclude a deal with the International Monetary Fund for as much as $1.6 billion by the end of June, Finance Minister Felix Mutati said. “We will conclude by the end of the second quarter,” Mutati said in an interview Wednesday in Nairobi, the Kenyan capital. “There is no question on whether the deal […]