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South Africa is officially in recession
South Africa's economy contracted in the first quarter of this year, pushing the continent's largest economy into its first recession since 2009, the official statistics agency reported Tuesday.
Zimbabwe tobacco is booming, but farmers growing it are not
Farmer Simon Kahari recently sold tobacco worth more than US$6,000 at an auction in Zimbabwe, a small fortune reflecting the golden leaf's resurgence in this southern African country.
Standard and Poor's cuts South Africa's credit rating to 'junk'
Credit ratings agency Standard and Poor's downgraded South Africa's rating to junk status on Monday, as pressure on President Jacob Zuma grows following a controversial cabinet shuffle.
Nigeria's southern oil-rich Rivers state on Saturday backed a government call for major oil companies to move their offices to the Niger delta region, as part of measures to stem unrest in the oil-rich area.
Egypt says its annual inflation rate has risen to 29.6 percent in January, a rise of more than five percent over the previous month. The figure was released Saturday by the state's statistics agency.
A massive zebu cow lumbers out of the tropical forest in Ambanja in the north of Madagascar carrying a heavy cartful of cocoa pods destined to become some of the most expensive chocolate in the world.
Ethiopia on Saturday officially opened the Gibe 3 hydroelectric dam, which is among the biggest in Africa, despite concerns by environmentalists about its impact downstream and upon neighboring countries.
Investors pledge billions in support for Tunisia's ailing economy
Tunisia won pledges of billions of dollars in support on Tuesday at an investment conference aimed at reviving the country's economy following its Arab Spring revolution.
Unease as Zimbabwe rolls out 'surrogate' dollars
Zimbabwe on Monday started issuing "bond notes," its own currency equivalent to the U.S. dollar, in a bid to ease critical cash shortages, but the move sparked fears of a return to hyperinflation.
Zimbabwe to roll out derided 'bond notes' on Monday
Zimbabwe will issue "bond notes" equivalent to the US dollar from next week to ease critical cash shortages, the central bank announced Saturday, despite widespread public fear of a return to hyperinflation.
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