Africa in Brief

Ghana central bank ends run of rate cutsGhana's central bank ended a run of rate cuts by keeping its benchmark unchanged at 21% on Monday, citing global economic uncertainties and threats to consumer price stability.The hold - not expected by analysts - should moderate price conditions toward the bank's medium term inflation target of 8% plus or minus 2% in 2018, governor Ernest Addison said.Consumer inflation rose to 12.3% in August from 11.9% in July. Fuel prices also went up nearly 8% in September and could post risks to inflation in the coming months, analysts said.Ghana, which exports cocoa, gold and oil, is following a US$918-million credit programme with the International Monetary Fund to restore fiscal balance to an economy dogged by deficits and high public debt. – Nampa/ReutersEgypt expects IPO of oil SOEEgypt expects an initial public offering of state-owned oil company ENPPI during the first quarter of 2018, Investment Minister Sahar Nasr told Reuters on Monday, later than initially anticipated.The minority share offering in oil company ENPPI will be the first in an Egyptian state-owned company in about 12 years.Nasr had previously said the IPO would take place before the end of 2017, part of a programme over the next three to five years to offer shares in dozens of state-owned companies. – Nampa/ReutersMozambique’s growth to quickenMozambique's government expects economic growth to accelerate to 5.3% in 2018 from a projected 4.7% in 2017, the state news agency has said.The government said it has a deficit of US$77 billion as the international partners continued to suspend support for the country. The deficit represents 9.7% of GDP this year, compared to 10.7% in 2016.The economy is going through a critical moment after undeclared debts of US$2 billion have been made public, leaving the state's safes empty. – Nampa/Reuters/XinhuaTanzania gets 3 000 more army officersTanzanian President John Magufuli has said the government will employ 3 000 junior army officers to enhance service efficiency of the Tanzania People's Defense Forces (TPDF) in the east African nation.Apart from the vacancies in the military, the government will also employ 50 000 public servants this financial year, he said.The increasing government job vacancies arises from the recent purge of "ghost workers" and those with contestable certificates, along with dividend of cost-cutting measures initiated by his government which he said had saved US$600 million. – Nampa/Xinhua

Africa in Brief

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