Economic growth
The World Bank has granted South Africa a $1.5 billion loan to upgrade transportation infrastructure and support its transition towards a low-carbon economy. The loan is expected to promote inclusive economic growth and job creation by addressing critical infrastructure bottlenecks, particularly in the energy and freight transportation sectors. This
Economic growth
The National Treasury of South Africa announced that the country has been granted a $1.5 billion loan from the World Bank to upgrade transportation infrastructure and support its transition towards a low-carbon economy. This loan aims to tackle corruption, decades of poor management, and pursue reforms to ease the
Economic growth
The South African government has signed a significant loan agreement with the World Bank to revamp its transport and energy infrastructure, amidst sluggish economic growth. The $1.5 billion loan is aimed at easing transport bottlenecks and improving energy security, which has been hindered by persistent power outages and deteriorating
Economic growth
The British Business Bank has announced a significant investment commitment to support innovation and industry in the UK, as part of the government's 10-year industrial strategy. The GBP6.6 billion commitment aims to help rapid growth of small businesses across the country, with a focus on eight target
Economic growth
The British Business Bank, the UK Government's development bank, has announced a major investment of £6.6 billion in UK entrepreneurs as part of a 10-year industrial strategy. The investment aims to support the rapid growth of small businesses across the UK, particularly in eight growth-driving sectors. The
Economic growth
Analysts warned that the UK's burst of strong economic growth at the start of the year is beginning to fizzle out as the jobs market weakens, the trade shock bites, and higher taxes damp business optimism. The strong start to the year, driven by one-off factors, does not
Economic growth
The introduction of the new Central Bank Act (CBA) has brought about a significant change in Sri Lanka's monetary policy, aimed at maintaining price stability and promoting economic growth. The CBA has formally addressed the misconception that the central bank is responsible for steering the real economic growth
Economic growth
The World Bank has significantly reduced its global economic growth forecast for 2025, warning of deepening vulnerabilities in the world economy. According to Ayhan Kose, deputy chief economist at the World Bank Group, policy uncertainty has reached its highest level ever, while geopolitical tensions are on the rise. This, combined
Economic growth
Amid concerns over rising household debt and weaker-than-expected economic growth, Mongol Bank's Monetary Policy Committee announced it would keep the policy interest rate unchanged at 12 percent. The committee also implemented a new macroprudential measure, setting a maximum debt-to-income ratio of 50 percent for newly issued bank loans
Economic growth
The Nigeria Association of Small and Medium Enterprises (NASME), Delta State Chapter, has urged both federal and state governments to implement more effective measures to alleviate the burden of inflation on SMEs. According to Lady Judith Nwachukwu, Chairman of NASME Delta State Chapter, SMEs are facing a multi-faceted crisis driven
Economic growth
Corruption and a lack of transparency in managing public resources have worsened Africa's debt burden, according to the African Forum and Network on Debt and Development (AFRODAD). Despite the continent being rich in natural resources, many African countries struggle to manage their finances effectively, leading to heavy debts.
Economic growth
President H.E. Dr. Netumbo Nandi-Ndaitwah and Nigerian billionaire businessman Aliko Dangote, the Chief Executive of the Dangote Group, met to discuss advancing Africa's economic development. The meeting highlighted the importance of value addition, job creation, food security, and economic growth for Africa to emerge as a respected
