Latest news with #SouthernAfrica
Zawya
2 days ago
- Business
- Zawya
Mozambique central bank cuts main interest rate to 11%
Mozambique's central bank cut its main interest rate to 11.00% from 11.75% in a decision announced on Friday. The Bank of Mozambique has now lowered its main lending rate for nine policy meetings in a row. The Southern African country's annual inflation rate slowed to 3.99% in April from 4.77% in March, reversing a trend where inflation had been on the rise since October's disputed election. (Reporting by Custodio Cossa; Writing by Sfundo Parakozov; Editing by Alison Williams and Joe Bavier)
Reuters
2 days ago
- Business
- Reuters
Mozambique central bank cuts main interest rate to 11.00%
MAPUTO, May 30 (Reuters) - Mozambique's central bank cut its main interest rate (MZMIMO=ECI), opens new tab to 11.00% from 11.75% in a decision announced on Friday. The Bank of Mozambique has now lowered its main lending rate for nine policy meetings in a row. The Southern African country's annual inflation rate slowed to 3.99% in April (MZCPIY=ECI), opens new tab from 4.77% in March, reversing a trend where inflation had been on the rise since October's disputed election.
The Herald
2 days ago
- Business
- The Herald
SA's Tshabalala loses AfDB presidency to Mauritanian
His win means the presidency of the bank will again stay between West and North Africa. Southern Africa had fielded two candidates, Tshabalala and Zambian economist Samuel Maimbo. This caused a rift within the regional body Sadc, which publicly endorsed the Zambian, but SA refused to back down. Tah previously served as director-general for the Arab Bank for Economic Development in Africa. He also served as an expert at the Mauritanian Bank for Development and Commerce between 1984 and 1986, then as a financial analyst at the Food Security Commission in 1986. He also worked as a financial analyst at the Khartoum-based Arab Authority for Agriculture, Investment and Development between 1996 and 1999. Thereafter, he served as investment promotion officer and then technical assistant to the president of the Islamic Development Bank. He was the adviser to Mauritania's president and prime minister, respectively, in 2006 and 2008. In 2008, he was nominated and appointed as Mauritanian minister of economy and finance. Tshabalala joined AfDB in 2018 after she was appointed as vice president of finance and CFO. She previously served as a finance manager at Standard Bank Group and as group treasurer at Transnet. Finance minister Enoch Godongwana previously commended Tshabalala for her contribution and commitment to achieving the AfDB's vital goal of increasing investment in the continent. TimesLIVE
Bloomberg
3 days ago
- Business
- Bloomberg
Zambia Inflation Slows to 11-Month Low as Food Prices Ease
Zambia's annual inflation rate eased to an 11-month low in May as improved rains helped cool price rises of corn meal and vegetables. Consumer prices rose 15.3% in May compared with 16.5% in April, Chief Statistician Chola Daka told reporters on Thursday in Lusaka, the capital.
Reuters
4 days ago
- Business
- Reuters
Namibia honours victims of colonial genocide as reparation calls grow
WINDHOEK, May 28 (Reuters) - Namibia honoured the victims of mass killings during German colonial rule with an inaugural memorial day on Wednesday, as politicians and affected communities voiced fresh calls for reparations from Berlin. German soldiers killed some 65,000 OvaHerero and 10,000 Nama people in 1904-1908 in what historians and the United Nations have long called the first genocide of the 20th century. In 2021 Germany officially described the massacre as a genocide for the first time, agreeing to fund development projects worth 1.1 billion euros ($1.2 billion) in the Southern African country, but stopping short of paying reparations. Namibian officials and representatives of the OvaHerero and Nama people say that is not enough. "We should find a degree of comfort in the fact that the German government has agreed that German troops committed a genocide," Namibian President Netumbo Nandi-Ndaitwah told a solemn memorial event in the parliament gardens. "We may not agree on the final quantum, but that is part of the complex negotiations we have been engaged in with the German government since 2013," she said. A spokesperson for the German embassy in Windhoek in response to an email request for comment referred Reuters to a statement the German government published on the memorial day. "The federal government acknowledges Germany's moral and political responsibility (for the killings) and emphasises the importance of reconciliation," the statement said. Namibia's government chose to mark Genocide Remembrance Day on May 28 because it was on that date that German colonial authorities ordered the closure of concentration camps. Charles Kakomee Tjela, a descendant of genocide victims who attended the event in the parliament gardens, told Reuters the genocide should feature more prominently in school curricula. Hoze Riruako, an OvaHerero chief, said the colonial-era atrocities were a prelude to the Holocaust but "people are not aware of what has happened here to the same level". Some representatives of the OvaHerero community boycotted memorial proceedings because they think the agreement for Germany to fund development projects over 30 years does not address their grievances. Nandi-Ndaitwah said on Wednesday negotiations with Germany would continue and that any final agreement should be "satisfactory, particularly for the directly affected communities". McHenry Venaani, an opposition leader, agreed Germany's initial offer was insufficient. "We are demanding a fair deal," Venaani said. ($1 = 0.8838 euros)
