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Botswana suspends meat exports

An outbreak of foot and mouth disease in Ngamiland has forced Botswana to serve the World Trade Organisation and its trading partners notice of suspension of meat exports

Published

7 years ago

June 21, 2018

Africa News Watch

An outbreak of foot and mouth disease in Ngamiland has forced Botswana to serve the World Trade Organisation and its trading partners notice of suspension of meat exports.

In a filing published by the World Trade Organisation, Botswana said officials found five animals with signs of the disease in Ngamiland in the north, an area bordering Namibia and Zimbabwe.

“As a result of these findings the slaughter and movement of all cloven hoofed animals and their fresh products within and out of the Sehithwa, Toteng, Bodibeng, Kareng and Semboyo extension areas are suspended until further notice,” Botswana’s Department of Veterinary Services said in a statement.

Vaccination of animals has also begun.

Foot and mouth is a highly contagious and sometimes fatal disease affecting hoofed animals such as sheep, goats, cattle, buffalo and pigs, although it is not a direct threat to humans.

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VenturesNow

Moroccan annual inflation rises to 0.8% in November

Published

3 days ago

December 21, 2024

Ifeoluwa Dada

Morocco’s statistics office has confirmed that the country’s annual inflation rate, as determined by the consumer price index, increased from 0.7% in October to 0.8% in November.

Monthly, consumer prices decreased by 0.2% from October.

The primary driver of inflation, food costs, grew by 0.8% compared to the previous year, while non-food inflation climbed by 0.7%. Core inflation, which does not include more erratic items like food, increased 2.6% annually and 0.2% monthly.

According to the central bank, inflation is expected to average 1% this year, down from 6.1% last year.

Despite the Al-Haouz earthquake, a spike in inflation, and worldwide economic challenges, Morocco’s GDP grew by 3.4% in 2023.

A recovery in tourism, robust industrial exports, and rising private consumption—all bolstered by prudent macroeconomic policies—were the main drivers of growth.

VenturesNow

Nigeria’s $42bn foreign reserves enough for 9 months’ imports— Central Bank

Published

4 days ago

December 20, 2024

Ifeoluwa Dada

According to Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), the nation’s $42.01 billion in foreign reserves can cover imports of goods and services for almost nine months.

Cardoso promised Nigerians improved economic fortunes in 2025 while addressing the Senate Committee on Banking, Insurance, and Other Financial Institutions yesterday in Abuja at the presentation of the performance index report.

Cardoso stated: “External Reserves rose from $ 38.35 billion it was on September 30, 2024, to $ 42.01 billion as of December 12, 2024”.

He clarified that third-party receipts in Q3 2024 and revenues from taxes connected to crude oil were the main drivers of the rise in foreign reserves during the specified time.

“We saw remarkable improvements in our trade balance and maintained a current account surplus,” he added.

“Our external reserves level can finance over 9.09 months of import of goods and services or 13.91 months only, higher than the international benchmark of 3.0 months and a robust buffer against shocks”.

On cash shortage, the CBN boss reiterated the N150 million fine against any branch of banks caught illegally distributing new Naira notes to currency hawkers and unscrupulous elements and said the Nigerian economy will improve in 2025 through policies and measures.

He predicted a stronger economic future: “Despite our economy’s challenges, there are clear reasons for optimism.

“The gradual stabilization of the forex market, ongoing banking sector recapitalization, and positive growth trends in key sectors, especially the services sector, indicate a path toward recovery and stability.”