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Zimbabwean Bank Deposits Surge to U.S.$2,6 Billion – AfDB

Zimbabwe's commercial bank deposits increased to USS$2.6 billion by April this year from US$1.75 billion in the same period last year, says an African Development Bank report. Statistics from the Reserve Bank of Zimbabwe show that bank deposits closed last year at around US$2.1 billion.

UN Body Paints Scenic Picture for African Tourism

International tourism grew by 4 per cent worldwide between January and April this year, a UN World Tourism Organisation official said Monday. UNWTO secretary general Taleb Rifai said in Africa, the sector grew by 3 per cent while in the sub-Saharan Africa the industry registered a 9 per cent increase in the same period.

Kenya Endorsed As Choice Tourist Destination

Kenya's tourism industry got a major boost at the weekend when the United Nations World Tourism Organization endorsed Kenya as a strategic partner in the world's tourism sector.

Chinese Investment in Zambia Projected to Grow By U.S.$3 Billion

THE Chinese investment in Zambia will go up by US$3 billion by the year 2014 and will bring many benefits for the local people, an expert has said.

Social Media Could Plug Tourism Promotion Funding Gap

Speaking at a one day digital marketing and management of tourism workshop, Mr Damian Cook, chief executive officer of e-Tourism Frontiers noted that using social media such as facebook, twitter, linkedin, myspace and Youtube is a low cost and efficient platform for countries with limited marketing budgets like Uganda.

Ugandan Airline Operators Wants Govt to Abolish Visa Fees for Tourist

Uganda may continue to struggle to grow it tourism sector as long as it remains expensive to tourists. Speaking during a meeting in Kampala yesterday the Association of Uganda Airline operators asked the government to scrap visa fees for tourists so as to grow tourist numbers.

Zimbabwe's Economy Can Grow Even Faster Says IMF

The global lender said economic growth accelerated from 6 percent in 2009 to 9 percent last year. But it noted growth could decelerate to 5.5 percent this year

South Africa's Minerals Beneficiation Policy Approved

The South African Cabinet has approved minerals beneficiation as official policy for South Africa, opening up exciting opportunities for long-term investment in the beneficiation/ manufacturing sector of the economy.

Where in Africa to Invest in the Next Five Years

Ernst & Young's 2011 Africa attractiveness survey identified 17 African countries that will offer attractive Foreign Direct Investment (FDI) opportunities in the next five years.

Nigerian Hoteliers Seek Federal Government's Assistance On Loans

The President of the Hotel Owners' Forum, Abuja chapter, Mr Onofiok Ekong, has called on the Federal Government to facilitate the provision of soft loans to operators in the hotel industry.

IT Gurus Who Aim to Transform Kenya

Kenya is on the verge of greatness. We have made a name for ourselves globally, now we need to harmonise our efforts. We can shift the economy so that this sector brings in more than a quarter of the country's revenues

New New Insurance Commission Boss Urged to Up Penetration of the...

Uganda has the lowest insurance penetration levels in the East African region estimated at only 0.6 per cent compared to Kenya's 2.68 per cent and Tanzania and Rwanda's 1 per cent respectively.

South Africa's GDP Rises to 4.8 Percent in First Quarter

GDP was expected to come in at 4.2 percent. "We were surprised by the number. It is a very good number and good showing by the manufacturing sector

Economic Opportunities in Ethiopia

With an average GDP growth of 11% during the 2005-09 period, Ethiopia is Africa’s fastest-growing non-oil economy. It is projected to grow at double digits in coming years

Ethiopian Sugar Corporation Earns Billions in Nine Months

The Ethiopian Sugar Corporation (ESC) earned 4.1 billion Br from the sale of 314,946tn of sugar over the past nine months, exceeding its goal of 3.9 billion Br in revenues.

Commercial Banks Nonperforming Loans Rate Down By 2.1 Percent in Uganda

The level of nonperforming loans in Uganda's commercial banks has dropped by 2.1 per cent indicating an improvement in the industry's overall asset quality.