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Zimbabwe suspends bank lending in bid to arrest currency decline

Zimbabwe suspends bank lending in bid to arrest currency decline

Zimbabwean government on Saturday ordered banks to stop lending with immediate effect in a move Harare said was designed to stop speculation against the Zimbabwean dollar and was part of a raft of measures to arrest its rapid devaluation on the black market, Reuters reported. The southern African country reintroduced …

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Rwanda: Culture minister suspended and placed under house arrest

Rwanda: Culture minister suspended and placed under house arrest

Rwandan President Paul Kagame has suspended and put under house arrest minister Edouard Bamporiki, in charge of youth and culture, authorities have announced. The minister’s suspension was as a result of “matters of accountability under investigations”, a statement from the prime minister’s office said. He is accused of “serious cases …

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South Africa: Public Enterprises minister calls for ban on scrap metal over vandalism

South Africa: Public Enterprises minister calls for ban on scrap metal over vandalism

South Africa’s Minister of Public Enterprises, Pravin Gordhan, has called for a scrap metal export ban amid vandalism of public infrastructure. According to the Minister, this measure would ensure that there would be no external market for the stolen metal to be sold as scrap metal. “There is absolutely no …

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