Zimbabwe Eyes IMF Reforms in Bold Bid to Clear $12.7 Billion Debt
On Monday, President Emmerson Mnangagwa hosted a conference with creditors and finance executives to discuss his administration’s plans for addressing…
Tag: Billion
Fuel Subsidy Cut Yields $7.5 Billion Annual Savings for Nigeria
The Nigerian presidency has announced that its decision to remove fuel subsidies has yielded annual savings of $7.5 billion for…
South Africa’s Film Industry Boosts Tourism Economy with R5.2 Billion Foreign Investment
South Africa’s film industry continues to captivate global filmmakers, significantly contributing to the nation’s flourishing tourism economy. Between November 2023…
Africa’s Mega Projects: Can Tanzania’s $3.1 Billion Railway Deliver?
Tanzania’s $3.1 billion Standard Gauge Railway, built by Turkey’s Yapi Merkezi, is Africa’s latest transformative infrastructure project. Stretching from Dar…
AG Reports R1.6 Billion Loss in Municipal Funds Linked to Defunct VBS Bank Investments
The Auditor General (AG) has reported that municipalities lost R1.6 billion after investing in the now-defunct Venda Building Society (VBS)…
Transnet CEO Aims For R1 Billion Profit Despite R7 Billion Loss, Plans To Borrow More
Transnet’s Group CEO, Michelle Phillips, is optimistic that the struggling state freight company can bounce back from its R7 billion…
Digital Push Could Add $5 Billion to South Africa’s Economy
South Africa’s digital economy could see a $5 billion boost if it addresses current deficiencies, according to a report by…
Ghana Commences Construction of $12 Billion Petroleum Hub
Ghana’s President Nana Akufo-Addo has flagged off the construction of a 300,000 barrel-per-day refinery in Jomoro, a city in the…
South Africa Faces Irrecoverable R14 Billion Loss Due to Government Irregularities, Says Auditor General”
Auditor General (AG) Tsakani Maluleke has revealed that almost R14 billion in material financial losses is unlikely to be recovered.…
Ethiopia to Save $4.9 Billion After Restructuring its Debts
Ethiopia will save $4.9 billion once it completes its ongoing debt restructuring exercise, according to State Finance Minister Eyob Tekalign.…