KHARTOUM, July 6 – North Sudan has massed what looks like a large convoy of troops in its Southern Kordofan oil state, the site of clashes that have threatened the peaceful secession of the south, a satellite monitoring group said on Wednesday.
Category: business
Bank of Ghana cuts prime rate to 12.50 pct
ACCRA, July 6 – The Bank of Ghana cut its prime policy rate by 50 basis points to 12.50 percent on Wednesday, saying inflation was under control despite economic growth currently running at over 20 percent a year.
Nigeria president picks World Bank MD for cabinet
ABUJA, July 5 – Nigerian President Goodluck Jonathan has asked the Senate to approve World Bank managing director Ngozi Okonjo-Iweala as a member of his new cabinet, the president of the upper house of parliament said on Tuesday.
Ugandan c.bank launches rate to check inflation
KAMPALA, July 6 – The Bank of Uganda launched an inaugural benchmark lending rate and inflation target on Wednesday in a bid to tame the price pressures that pushed the east African nation’s inflation rate to a 17-year high in May.
African business agenda: 11-15 July 2011
WHAT TO WATCH NEXT WEEK
World food prices: Cereals drop, sugar jumps
Cereal prices dropped slightly in the world markets in June, but were still 71% higher than a year ago, with the fall attributable to improved weather conditions in Europe and the lifting of Russia’s export ban, the United Nations Food and Agriculture Organization (FAO) reported today.
Djibouti inflation rises to 5.2 pct year/year in May
DJIBOUTI (Reuters) – Consumer prices in Djibouti rose 5.2 percent in May from the same month last year, up from an annual inflation rate of 4.9 percent in April, driven by higher food and fuel prices, official data showed on Saturday.
Africa business agenda: 4-8 July
WHAT TO WATCH NEXT WEEK
More pain in sight for E.Africa shillings
NAIROBI, June 23 – The Kenyan and Ugandan shillings are likely to remain under pressure against the dollar next week after falling through a series of record lows that their central banks blamed on currency speculators.
Ivory Coast budget assumes 6 pct GDP shrinkage
ABIDJAN, June 23 – Ivory Coast has approved a budget that assumes the economy will shrink by more than 6 percent this year after the country’s violent political crisis, according to the finance ministry.