Month: January 2020

South Africa’s business confidence index plummets

South Sudan January 11, 2020

South Africa which is currently under serious economic situations has also sustained a rather historic slump in the business confidence index in 34 years according to last year’s data.

According to a report by Bloomberg, the statistics compiled by the South African Chamber of Commerce and Industry (SACCI), showed that the business confidence declined to an average of 92.6 from a two-year high record of 95.5 in 2018, that being the lowest record since 1985.

Delays in policy implementation, deteriorating public finances and power cuts which escalated in December 2019 have been associated are crucial factors that define the fate of investment in South Africa and why the index matters.

South Africa’s treasury 2019 budget review shows that real GDP growth in 2019 was expected to grow slowly to 1.5 per cent, and expected to improve moderately to 2.1 per cent in 2021.

On the other mark, Bloomberg highlighted that …

ATMs and cash. With internet access and mobile payments well known, investing in Uganda’s e-commerce will require the government’s and all stakeholders’ input due to the importance of the ICT sector for e-government and e-commerce www.exchange.co.tz

Cost of banking sees Kenyan banks lose customers

Kenya January 10, 2020

For poor households, the cost of running an account makes it a luxury locking many out of the bank as a formal financial system.…

US restricts tobacco imports from Malawi

Industry and Trade January 10, 2020

The US restricted tobacco imports from impoverished Malawi over allegations that workers including children were being exploited.

Although Malawi’s total exports to the United States make up only a small part the US move could make it harder selling its tobacco elsewhere leading to anxiety among farmers who fear they might be forced to accept lower prices.

Tobacco is Malawi’s top crop in terms of employment, 60 per cent foreign exchange earnings and 25 per cent tax revenue any trouble the sector runs into could quickly affect the economy.

Tobacco is already confronted with global anti-tobacco campaigns adding more pressure on the tobacco sector in Malawi.

Its troubles began in late October when the British law firm Leigh Day announced it was preparing a landmark class action case against British American Tobacco (BAT) on behalf of 2,000 Malawian farmers, including hundreds of children, for forced labour and poor wages.

BAT, …