Africa Briefs
SA’s business activity tanks
South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) fell deeper into contraction territory in February, sliding to its lowest since the 2009 global financial crisis as new sales and business activity tanked, the survey showed yesterday.
The index, which gauges manufacturing activity in Africa’s most industrialised economy, fell to 44.3 points in February from 45.2 in January, remaining below the 50-point mark separating contraction from expansion for a seventh straight month.
South Africa has seen growth flounder in recent months due to nationwide power cuts and a steady decline in business and consumer confidence, and is unlikely to see the economy expand by much in 2020.
Four of the five subcomponents of the index declined, with inventories and new sales taking the hardest hit, as businesses slowed activity at a greater pace due to slack local and global economic prospects, more so as the impact of the coronavirus outbreak deepened.
“Eskom’s announcement of a high likelihood of load shedding during the next 18 months likely contributed to the further deterioration in sentiment regarding business conditions going forward,” analysts at Absa said in the release. – Nampa/Reuters
Zambia: US gives millions in AIDS relief
The United States will give Zambia a new one year bilateral grant of US$389 million for AIDS relief starting in October after Congressional approval, Zambia’s ministry of health said in a statement.
The grant under the US President’s Emergency Plan for AIDS Relief (PEPFAR) follows a meeting on Zambia which was held last week in Johannesburg.
“The meeting reviewed key policies, strategies and activities to be undertaken toward the goal of achieving epidemic control of HIV,” the statement said.
Zambia’s health minister Chitalu Chilufya said the meeting marked a milestone in the Southern African nation’s collaboration with donors in enhancing provision of quality healthcare services.
In addition to the US$389 million, Chilufya said the United States would give Zambia funds specifically for the voluntary male circumcision programmes. – Nampa/Reuters
South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) fell deeper into contraction territory in February, sliding to its lowest since the 2009 global financial crisis as new sales and business activity tanked, the survey showed yesterday.
The index, which gauges manufacturing activity in Africa’s most industrialised economy, fell to 44.3 points in February from 45.2 in January, remaining below the 50-point mark separating contraction from expansion for a seventh straight month.
South Africa has seen growth flounder in recent months due to nationwide power cuts and a steady decline in business and consumer confidence, and is unlikely to see the economy expand by much in 2020.
Four of the five subcomponents of the index declined, with inventories and new sales taking the hardest hit, as businesses slowed activity at a greater pace due to slack local and global economic prospects, more so as the impact of the coronavirus outbreak deepened.
“Eskom’s announcement of a high likelihood of load shedding during the next 18 months likely contributed to the further deterioration in sentiment regarding business conditions going forward,” analysts at Absa said in the release. – Nampa/Reuters
Zambia: US gives millions in AIDS relief
The United States will give Zambia a new one year bilateral grant of US$389 million for AIDS relief starting in October after Congressional approval, Zambia’s ministry of health said in a statement.
The grant under the US President’s Emergency Plan for AIDS Relief (PEPFAR) follows a meeting on Zambia which was held last week in Johannesburg.
“The meeting reviewed key policies, strategies and activities to be undertaken toward the goal of achieving epidemic control of HIV,” the statement said.
Zambia’s health minister Chitalu Chilufya said the meeting marked a milestone in the Southern African nation’s collaboration with donors in enhancing provision of quality healthcare services.
In addition to the US$389 million, Chilufya said the United States would give Zambia funds specifically for the voluntary male circumcision programmes. – Nampa/Reuters
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