South Africa is expecting to harvest its biggest maize crop in four decades, a year after drought devastated output of the country's staple food.
Farmers are set to produce over 15 million tonnes which means the country will have a 50% surplus for the year, according to government figures
The African Development Bank (AfDB) and the Government of Japan (GOJ) have signed an agreement for a US $ 300 million facility under the joint initiative titled Enhanced Private Sector Assistance (EPSA) for Africa.
The loan, worth JPY 34.41 billion (equivalent to approximately USD 300 million) is intended to support private sector operations in Africa through the AfDB’s non-sovereign window.
The Minority in Ghana’s Parliament has petitioned the Security and Exchange Commission of the United States over the controversial US$2.25 billion bond issued by the Finance ministry in April.
The Minority in a statement said they hope their petition will lead to an investigation in their claim of conflict of interest against the Finance minister Ken Ofori Atta over the issuance of the bond.
Ghana  has announced it is considering granting a ten year tax holiday to major Multinational firms. The move, according to the Chief Executive Officer...
Tanzania has shut down one of the country's largest banking institutions, FBME, following charges of aiding the finance of terrorism by US authorities.
A statement from the central bank said it had revoked its licence.
It was accused in the US of, among other things, money laundering and facilitating the payment of thousands of dollars from a financier of the Lebanese Hezbollah Islamist militants.
The Association of African Central Banks is warning the goal of attaining a single currency status in West Africa will be a mirage. It believes the only solution to the problem is by diversifying the economies of the various countries in the Wet African Monetary Zone.
Various attempts by West Africa to introduce a common currency known as the ECO has suffered various setbacks with the recent one being the outbreak of Ebola in three member countries. It is currently unclear if the countries will now meet the convergence criteria for the currency to take off in 2020.
The African Development Bank (AfDB)-managed Sustainable Energy Fund for Africa SEFA has approved a US$ 965,000 grant to Oxygen Energy Private Limited to support the preparation of a bankable business case for the development of a 20MW off-grid solar PV rooftop project on buildings owned and managed by Old Mutual Property Group Zimbabwe countrywide.
South Africa's state-owned power company Eskom has threatened to cut electricity supplies to Zimbabwe next month if it fails to settle debts amounting to about $9m (£7m) because of a currency shortage, Zimbabwe's state-owned Herald newspaper reports.
The Executive Board of the International Monetary Fund (IMF) today approved a new three-year arrangement for Togo under the Extended Credit Facility (ECF) worth (US$241.5million) to support the country’s economic and financial reforms. [1]
The Executive Board’s decision enables an immediate disbursement of US$34.5 million. The remaining amount will be phased over the duration of the program, subject to semi-annual reviews.
