Browsing: World Bank

CRDB

 

CRDB Bank - Alchetron, The Free Social Encyclopedia

CRDB is enjoying a remarkable dash for its shares having sold an impressive 5.0 million shares this week alone. The sudden increased appetite for CRB shares is not without cause, the bank strategically announced a possible 6.52per cent increase in dividend payout.

Now, even though the percentage increase is only a proposal (subject to approval by the Annual General Meeting) the public is gabbling up the shares in lure of the possible increased payout.

The new amount was first proposed in the bank’s annual report for 2020, the 6.52 percent raises the initiatial USD 0.0073 (17/-) that was the payable dividend in 2019 to a lucrative USD 0.0025 (22/-) per share.

In its weekly Market Synopsis, Orbit Securities said that CRDB shares closed the week at usd 0.11 (245/). The impressive increase set CRDB ahead of the park in a week that had only three gainers on the Dar …

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Remittance flows to the Middle East and North Africa (MENA) region increased by 2.3 per cent to record about $5.6 billion in 2020 according to a report by World Bank.

The press release from World Bank noted that strong remittance flows to Morocco and Egypt strongly contributed to the growth.

In 2020, flows to Morocco rose to 6.5 per cent while flows to Egypt rose by 11 percent to record a high of nearly $20 billion. Tunisia also recorded an increase of 2.5 per cent.

According to the statement, other economies in the region experienced losses in the same period such as Iraq, Lebanon, Djibouti and Jordan which led to a double-digit decline.

With weak outflows from the Gulf Cooperation Council (GCC) countries and moderate growth in the Euro area, remittances are likely to grow in 2021 by 2.6 percent.

In the fourth quarter of 2020 the cost of sending …

gold

Gold Price to Hit Record $2,200 Before 2020 Ends? | The Motley Fool

 

Tanzania has earned a record $3 billion from gold sales as price for the precious metal soars in the world market.

Publicized by the Bank of Tanzania, the value of gold exports clocked $3.025 billion in the year ending March 31, 2021, a considerable jump from $2.324 billion that was earned last year.

In fact, gold is doing so well that it has become the country’s top foreign exchange earner, and even overtaken tourism.

Gold prices have been edging up since the corona outbreak last year owing to jittery investors fearing a collapse of other currencies (including the dollar) and opting to store their value in gold.

“As financial markets were hit by the pandemic, investors rushed for gold which they consider as one of the safe haven assets,” report local media.

Consider this, gold represented more than half (55.9 percent) of the value brought home from sell of …

samia uhuru

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In what has been christened her first official state visit, Tanzania President Samia Suluhu Hassan has today begun her two day visit to neighbouring Kenya.

The visit is considered her first state visit and not her recent trip to Uganda, which was more of a ‘business trip’, meant to but sign the multi-billion-dollar oil pipeline deal and not a diplomatic visit to discuss diplomatic relations and economics.

The highly anticipated visit is expected to strengthen diplomatic ties as well as iron out economic creases that the two countries had wrangled themselves in over the course of the past few years.

The trip comes as a fulfillment of President Samia’s pledge to parliament that her administration will without fail ‘restore and improve economic diplomacy with partners in the region and across the world.’

The visit is also seen as part of the president’s move to attract investors, a goal that needs …

bill

Petition to Investigate Bill Gates for 'Crimes Against Humanity' Goes Viral | Neon Nettle in 2021 | Bill gates, Refugee crisis, Women in africa

When one of the World’s richest couples decides to divorce then yes we are all warrant to Tweet our P and Qs. So, as the social media world continues to dot the couples’ i’s and cross their t’s let as look at ‘the poor man’ in one of the World’s wealthiest people.

As of February this year, Bill Gates’ net worth of over $137 billion, keeping the world renown philanthropist right up their with the rest of the World’s richest people.

But that is not what makes Bill Gates standout, it is his willingness to aide the world’s poorest that sets him apart from the other World titans.

Only recently, through the Bill & Melinda Gates Foundation, Bill Gates, has set aside a $306 million package in agricultural development grants for Africa and other parts of the developing World.

Over the years, Bill Gates has invariably donated and granted Africa …

Workers preparing agricultural produce in a value addition process by an SME. Tanzania can provide tax exemptions which could lead to a decrease in production costs. www.theexchange.africa

The small and medium-sized enterprises (SMEs) sector is one important contributor to Tanzania's long-term development agenda. 

 

This East African nation has been on a journey towards becoming a middle-income country with the economy growing by an average of 6.5 per cent per year in the last decade, going by estimates from the World Bank and other institutions.  

There are an estimated three million enterprises in Tanzania’s SME sector which contribute 27 per cent of the overall GDP according to the Tanzania Development Vision (TDV) 2025.…

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Growth forecast for Sub-Saharan Africa economies

In Sub Saharan Africa, growth is expected to rebound by 2.3 per cent in 2021 and 3.1 percent in 2022 from a 2.0 percent contraction in 2020 according to a report by World Bank.

The report is dubbed “Covid-19 and the future of work in Africa: Emerging trends in digital technology adoption” by the World Bank.

Rebound in private consumption, industry and services will be supported by continued growth in the agriculture sector, rise in commodity prices due to rising demand for commodities.

This recovery may however be affected by delayed access to covid-19 vaccines and the resurgence of the pandemic.

Private consumption and business investment spending are likely to be affected by restrictions in case of a second wave before vaccines become widely available.

In 2022, growth is expected to rise to 4.1 percent as vaccines rollouts increases across the region, therefore, providing a stronger boost to consumer and …

CGTN China Africa

Until 2019 Africa and china had an eccentric lending experience. This includes the lending spree featuring more than $10 billion a year from 2012 to 2017, higher than $1 billion in 2001, sadly China lending to Sub-saharan Africa has fallen short due to serious defaulting fears.

A detailed study executed by John Hopkins University’s China-Africa Research Initiative pointed out that, debt sustainability concerns have triggered lending to the African government to drop by 30 per cent in 2019.

China—the world top industrial economy has been a close lender to Africa—the world’s top raw material producer and fastest-growing economy over the past decade.

On the side of the fence, according to China’s 2021 White Paper on International Development Cooperation published in January, China has steadily increased the scale and further expanded the scope of its foreign aid, giving high priority to the least developed countries in Africa (Global Times).

Several media …

Data

In this case, investing in data is crucial for developing economies. Hence—over time—different organisations such as the World Bank (WB) and the World Economic Forum (WEF) have rallied for the utilization of data and promoting data democratization for effective development planning. 

The value of data is vast and elongates further especially in emerging economies. According to a January 2021 publication by WEF, there are more things to explore when it comes to data and Africa has been painted as one of the interesting places on the planet with sufficient opportunities. 

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Africa has experienced marginalisation and social exclusion since gaining independence from its colonisers. Among the policies developed during the colonisation era was the exclusion of Africans from any level of government, or if they were allowed to join, they joined without authority. This kind of racial discrimination is still being experienced in global workspaces to date. Africa has remained stagnant and regressed in terms of foreign trade, investment, per capita income, and other economic growth measures to date due to the effects of colonisation.

Poor governance and corruption, amongst other factors, have continued to repress Africa's growth; however, more governments are taking the initiative to improve policies that promote education and health outcomes for their people, thereby reducing social exclusion and marginalisation.…

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