News & Update on Africa’s Economy

  • Mozambique’s economy is on track for a “strong rebound” in 2020, the International Monetary Fund said on Wednesday, as it urged the government to ensure an expected gas boom benefits all citizen, targets 63% budget increase for 2020.
  • Technology company IBM said on Thursday it would launch a new weather forecasting system that will be able to predict conditions up to 12 hours in advance and cover parts of the world that have not had access to such detailed data.
  • Work on a pipeline to export Ugandan oil has been suspended, after Tullow Oil’s plan to sell a stake in the project to France’s Total and China’s CNOOC was called off last week.
  • South African Airways (SAA) and unions on Saturday met for talks the troubled state-run carrier hopes can bring an end to a crippling strike that it says could push it to collapse.
  • Kenya has gone slow on an import rule that requires mandatory inspection of goods at the source, handing a major reprieve to small- scale traders. Trade Secretary Peter Munya said the rule was no longer compulsory and that importers are free to ship goods to be inspected locally.