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- Kenya, Tanzania braces for torrential floods as Cyclone Hidaya approaches
- EAC monetary affairs committee to discuss single currency progress in Juba talks
- Transport and food prices drive down Kenya’s inflation to 5% in April
- Payment for ransomware attacks increase by 500 per cent in one year
- History beckons as push for Kenya’s President Ruto to address US Congress gathers pace
- IMF’s Sub-Saharan Africa economic forecast shows 1.2 percent GDP growth
- The US Congress proposes extending Agoa to 2041, covering all African countries
- Millions at risk of famine as fuel tax row halts UN aid operations in South Sudan
Browsing: South Africa BRICS Summit
- BRICS’ owned New Development Bank (NDB) was set up in 2015 by Brazil, Russia, India, China, and South Africa.
- The multilateral lender is planning to disburse about $5 billion in loans this year.
- The bank has an initial verified capital of $100 billion and a subscribed capital of $50 billion.
Emerging economies could give the superpowers a run in the lending sector with the the BRICS alliance planning to disburse about $5 billion in loans this year. This was announced by the bloc’s New Development Bank (NDB) Vice President Zhou Qiangwu on Tuesday, March 26.
As China, one of Africa’s closest trade …
