The economy of sub-Saharan Africa will grow by 5.25% in 2011, driven by strong domestic demand and elevated commodity prices, the IMF projects in its latest Regional Economic Outlook. In 2012, growth will accelerate to 5.75% as a result of one-off boosts to production in a number of countries. The institution expects lower economic growth compared to its April forecast in which 2011 growth was estimated at 5.5% and 2012 - at 6%. The current projection is contingent on 4% global economic growth and should the global demand decrease, the growth prospects for the region will deteriorate with South Africa and others that are more globally integrated likely to be affected the most. |
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more