Economy, Business + Finance

Nairobi - The International Monetary Fund (IMF) has warned that Africa's economic growth will be affected by the continuing world economic crisis.

It further predicted that growth in sub-Saharan Africa will slow to 3.25 percent this year, half the growth rate it previously projected.

The slump in commodity prices and the credit squeeze are the main culprits, the IMF said in a report, which was released ahead of a major IMF conference on Tuesday in the Tanzanian capital, ...

Harare - The Consumer Council of Zimbabwe (CCZ) has reported that falling prices of basic commodities has resulted in the breadbasket for a family of six for the month of February dropping by 20 percent to $122 from $153 in January.

It was a rare price decline for a country with the world's highest inflation rate at some 230 million percent, according to the last official estimates released in July last year.

This was the first decline in a decade.

Executive ...

By Bathandwa Mbola

Johannesburg - South Africa's efforts in dealing with the economic crisis will not be affected by the transition in government after the General Elections in April, says President Kgalema Motlanthe.

"The change will be within the governing party so it should not cause any ripple at all," he said on Tuesday, during a courtesy visit to the Johannesburg Stock Exchange (JSE) in Johannesburg.

President Motlanthe said South Africa would ...

By Michael Appel

Pretoria - High levels of public and private investment in infrastructure has helped to sustain South Africa's economy in the midst of global economic recession, Trade and Industry Minster Mandisi Mpahlwa said, Tuesday.

Speaking at the Economic, Investment and Employment Cluster Programme of Action progress report, Minister Mpahlwa said that South Africa's economy has managed to keep head above water as a result of government's Public Infrastructure Investment ...

By Neo Semono

Pretoria - The reports of five task teams, established by government to look into the effects of the global economic crisis on certain sectors in South Africa, will be released at the end of the month.

"The team will complete its work in detailing suitable interventions towards the end of March 2009," said Trade and Industry Minister Mandisi Mphahlwa on Tuesday.

He said he could not preempt what interventions the task teams would propose ...