Africa briefs

Zim economy to grow 6% in 2018Zimbabwe's economy could grow by up to 6% this year, more than an initial forecast of 4.5%, due to the reforms being pursued by President Emmerson Mnangagwa's government, the finance minister told the state-owned Herald.Mnangagwa, who came to power in November after a de facto military coup that removed long-time leader Robert Mugabe, has promised economic reforms to attract foreign investment and restore ties with international lenders so the country can access fresh funding.Finance minister Patrick Chinamasa said the government would be bold in reforming loss making state-owned companies and the mining sector, which generates the highest export earnings.International Monetary Fund chief Christine Lagarde last week welcomed a commitment by Mnangagwa to stabilise Zimbabwe's economy and work to improve relations with the international community. – Nampa/ReutersEgypt, Ethiopia and Sudan in dam talksThe leaders of Egypt, Ethiopia and Sudan met yesterday in a bid to break a deadlock in negotiations over a hydroelectric dam Addis Ababa is building along its share of the Nile river.Cairo - solely dependent on the Nile for its water - is at odds with Ethiopia over the construction of the Grand Renaissance Dam, which it fears could reduce waters cascading down from Ethiopian highlands and through the deserts of Sudan to its fields and reservoirs.A bone of contention for both Ethiopia and Egypt is the speed at which the dam's reservoir would be filled.The Grand Ethiopian Renaissance Dam - now over 60% complete and which will churn out 6 000 MW upon completion – is centre piece to the country's ambitious power exporting plans. – Nampa/Reuters

Africa briefs

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Republikein 2025-11-13

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