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By Dawit Endeshaw ADDIS ABABA (Reuters) – Ethiopia’s parliament passed long-planned legislation on Tuesday allowing foreign banks to operate in the Horn of Africa country, part of government efforts to attract more overseas investment. The country has been gradually opening up its tightly controlled economy, which is one of Sub-Saharan Africa’s biggest, since Prime Minister …

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WASHINGTON (Reuters) – The International Monetary Fund said on Monday its executive board completed a review that would provide Zambia with immediate access to about $184 million. The access to the funds brought Zambia’s total disbursement under the 38-month extended credit facility arrangement to about $1.3 billion, the IMF said in a statement. (Reporting by …

IMF to provide Zambia with $184 million as board review completed Read More »

ABIDJAN (Reuters) – Farmers in most of Ivory Coast’s cocoa growing regions said on Monday they were concerned about the lack of adequate rains and the heat, which could weigh on the development of the October-to-March main crop.    The world’s top cocoa producer is in its dry season which runs from mid-November to March, when …

Lack or rain, heat worry Ivory Coast cocoa farmers Read More »

YAOUNDE (Reuters) – Cameroon’s President Paul Biya warned on Monday of “disastrous consequences” for the countries of the Economic and Monetary Community of Central Africa if urgent action is not taken to address their deteriorating net external reserves. The member countries – Cameroon, Gabon, Chad, Equatorial Guinea, Central African Republic, and the Republic of Congo …

Cameroon’s Biya warns of disaster for Central Africa financial stability Read More »

By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghana’s president-elect, John Dramani Mahama, has pledged to revamp the cocoa sector and reorganise the state-run regulator, aiming to stimulate growth and improve efficiency in the world’s second-largest cocoa producer. In an interview with Reuters on Friday, he criticised the cocoa industry structure where the cocoa marketing board …

Ghana’s president-elect plans to reform cocoa sector, restructure regulator Read More »