The Monetary Policy Committee held its 6th and final meeting for 2017 on the 20th and 21st November and in line with consensus expectation, committee members overwhelmingly voted to retain policy rates at current levels whilst emphasizing on the need to consolidate on gains in external balance and domestic price stability. Hence,
When he came to power, Zimbabwe’s Robert Mugabe was feted as an African liberation hero in a nation that had endured nearly a century of white colonial rule.
Nearly four decades after the country’s independence from Britain in 1980, he was regarded by many as an autocrat, willing to unleash death squads, rig elections and trash the economy in the relentless pursuit of power.
The Monetary Policy Committee (MPC) is set to convene for the sixth and final time this year on the 20th and 21st of November. The meeting is coming against the backdrop of a synchronised global growth expansion – underlying recent moves by systemic central banks to begin phasing out ultra-accommodative monetary policy hitherto put in place to buoy growth – rising commodity prices and improving domestic macroeconomic conditions anchored by recovery in external sector variables.
Lately, the proposal to adopt a common currency, ECO, for the Economic Community of West African States (ECOWAS) has elicited mixed reactions.
The goal of this plan is, inter alia, to merge the new currency with the West African CFA franc-used by the French-speaking members of ECOWAS.
The ECO, which is piloted by the West African Monetary Institute (WAMI), is expected to meet four primary criteria; viz:
Against the backdrop of several deep-seated structural challenges stifling operating environment for businesses, Nigeria has persistently been ranked low by the World Bank in its Ease of Doing Business (EODB) report. Out of the 190 countries surveyed for 2017, the report ranked Nigeria 169th - a negligible improvement from 170th of 189 countries in 2016. On average, the country ranked 158th of 189 countries surveyed in the last 5 years and 37th of 48 countries in Sub-Saharan Africa for 2017.
“Made in China’’ unarguably has become a dominant inscription on most products world over.
These products span across electronics, textile, pharmaceuticals, leather products, automobile, building materials, phones, accessories, military hardware, among others.
Available statistics indicate that that China has so far attracted over 139 trillion dollars in Foreign Direct Investment (FDI), the News Agency of Nigeria reports.
Africa needs 11 million more doctors, nurses and teachers by 2030 to prevent a “social and economic disaster” that could propel millions to migrate, the United Nations said on Thursday.
It said the 11 million were needed to help the continent cope with a booming population, with the number of children set to increase by 170 million to 750 million in the next 13 years.
“We are at the most critical juncture for Africa’s children,” Leila Pakkala of the United Nations Children’s Fund (UNICEF) said in a statement.