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Southern Africa economic news

Cloud Computing set for massive growth in SA & Kenya

East Africa technology news, Economic news, Southern Africa economic news, Southern Africa technology news, Technology News /

Rapidly expanding bandwidth capacities, following the landing of undersea cables, have led to the proliferation of data centres and established a solid platform for the development of cloud computing services in South Africa and Kenya. Enterprises are steadily embracing outsourcing and managed services for various business and technological benefits, further driving migration to cloud computing. […]

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Africa: AU Summit Approves Creation of African Monetary Fund

East Africa economic news, Economic news, North Africa economic news, Southern Africa economic news, The Africa Union, West Africa economic news /

The AU Commissioner for Economic Affairs, Anthony Maruping, told journalists in Malabo on Monday that the Fund would work to correct balances of payment positions across Africa. He said such positions were mainly caused by low export of commodities and high import volumes which exerted negative burden on currency stability. The AMF would be established

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Africa: BRICS Launches New Development Bank

East Africa economic news, Economic news, North Africa economic news, Southern Africa economic news, West Africa economic news /

Beijing — In July, nations known as the “BRICS,” Brazil, Russia, India, China and South Africa, announced the creation of a new, $100 billion development bank (NDB). The project is aimed at lending money to developing nations for investments, much like how the American and European-backed International Monetary Fund (IMF) and World Bank operate. Liu

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Africa: Grand Vision for an African-Owned Drive on Food Security

East Africa economic news, Economic news, North Africa economic news, Southern Africa economic news, West Africa economic news /

Maputo — “Your granary will never be filled by your neighbour.” This is a Mozambican saying that was used by Graca Michel, member of International Panel of Elders and a former Mozambican minister of education, to illustrate the point that Africa cannot rely on outside help to achieve food security.

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UBA Launches One-Stop E-Payment Portal

East Africa economic news, Economic news, North Africa economic news, Southern Africa economic news, West Africa economic news /

E-commerce in Africa is set to receive a boost as United Bank for Africa (UBA) Plc has introduced an online payments and collections platform tagged U-bills. The online payment platform has been enabled in all the 19 countries where UBA has operations.

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