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Africa’s economic growth fell to 3,2 percent last year from 4,1 percent in 2022, the African Development Bank (AfDB) said on Friday, but it projected higher growth this year for all regions except Central Africa. The AfDB said political instability and China’s economic slowdown were compounding the shocks of Covid-19 and Russia’s war in Ukraine. […]
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Herald Reporter African Development Bank Group president Dr Akinwumi Adesina arrived in Zimbabwe today for a two-day official visit. Dr Adesina accepted a request in February by the Government to serve as the country’s arrears clearance and debt resolution champion among international financial institutions and bilateral creditors. He is expected to meet President Mnangagwa, Finance […]
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African nations need US$424 billion this year to help them cope with the devastation caused by the coronavirus pandemic, according to the head of the continent’s top multilateral lender. After decades of progress in the continent’s fight against poverty, Covid-19 plunged 30 million Africans into “extreme poverty” in 2020. Meanwhile, the war in Ukraine has […]
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Mukudzei Chingwere Herald Reporter The reform trajectory covering the economy, politics, media and legal issues, spearheaded by the Second Republic led by President Mnangagwa since 2017, has been commended by the African Development Bank (AfDB). The AfDB’s acting vice president for regional development, integration and business delivery, Ms Yacine Fal, made the remarks yesterday after […]
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Oliver Kazunga Senior Business Reporter ZIMBABWE and Zambia are working to establish a joint agro-industrial park, which will improve the availability of goods and services for the bilateral market and broaden intra-regional trade of manufactured products. The proposed project is being supported by the Common Market for Eastern and Southern Africa (Comesa), the African Development […]
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Happiness Zengeni in Davos, Switzerland— Finance and Economic Planning Minister Patrick Chinamasa is optimistic Zimbabwe will meet its 4,5 percent economic growth projections for 2018, with a possibility of breaching the 6 percent mark. The bullish economic outlook, Minister Chinamasa said, was anchored on policy and economic reforms spearhead by President Mnangagwa since he took […]
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From Happiness Zengeni in DAVOS, Switzerland— President Mnangagwa yesterday held high-level meetings with top officials from the world’s top multilateral financial institutions on the sidelines of the 48th World Economic Forum (WEF) as he continued with his drive to re-engage with the international community. He met top officials from the
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Leonard Ncube Bulawayo Bureau— AFRICAN governments must come up with budgets to finance civil registration amid concerns that the continent is under siege from Western countries that use donor agencies to negatively portray the continent, the Registrar-General Mr Tobaiwa Mudede has said. Mr Mudede was speaking on Tuesday at a meeting of the taskforce on the establishment […]
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From Victoria Ruzvidzo and Darlington Musarurwa in Durban, South Africa— PRESIDENT Mugabe has dismissed assertions that Zimbabwe is a fragile state, stressing that those who labelled it so were misguided and ill-informed about the state of development in the country.
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Business Reporters The African Development Bank has reaffirmed its commitment to be the lead financier and co-ordinator of the $4 billion Batoka Gorge Electric Scheme in Zambia and Zimbabwe.
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Business Reporter THE African Development Bank will invest $12 billion in the energy sector by 2020 from its own resources and leverage additional financing, about $45-$50 billion, from partners including the private sector and other development financial institutions because the bank sees energy as “crucial” to the continent.
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ZIMBABWE’s concessionary borrowing has declined to below 10 percent as compared to the period 2006-2009 where concessionary debt levels were 30 percent of total country’s external debt. Speaking at the launch of the United Nations Conference Trade and Development Economic Development in Africa Report 2016, Debt Dynamics and Development Finance in Africa, Africa Capacity Building foundation […]
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