Kenya to grow 5.2 per cent in 2010: government advisory body
7 September 2010 - Kenya's economy will grow by 5.2 per cent in 2010, a government advisory body said on 4 September, a forecast that exceeds the government's previous estimate. The government had forecast growth of 4.5 per cent for 2010. (more)

Lesotho: Gem Diamonds finds 196 carat rough white diamond
7 September 2010 - Gem Diamonds Ltd said it found an exceptional 196 carat rough white diamond at its 70-per cent owned Letseng mine in Lesotho. Gem has found three of the world's twenty largest diamonds since it acquired the mine in mid 2006 including the 603 carat Lesotho Promise, recovered in August 2006, which sold for $12.4 million. The government of Lesotho owns the remaining 30 per cent of Letseng. (more)

Mauritius bourse seeks to increase listed firms
7 September 2010 - The Mauritius Stock Exchange would aim to admit 10 to 15 new companies to the exchange by the end of 2011, Chief Executive Sunil Benimadhu said on 2 September, ahead of the upcoming bourse results. The bourse has 88 companies, with a total market capitalization of 156.38 billion rupees, listed on it. Since 1989 the island's benchmark SEMDEX index has had an annualized growth rate of 14.5 per cent. (more)

Morocco raises 2010 growth forecast to 4.1 per cent
7 September 2010 - Morocco raised its forecast for economic growth this year to 4.1 per cent on 3 September, citing the strength of mining, manufacturing, construction, and higher state spending. That would be faster than a 3.5 per cent official forecast made early this year, suggesting Morocco is weathering the impact of the global slowdown better than envisaged. (more)

Morocco tourist arrivals rise 10 per cent yr/yr in July
7 September 2010 - The number of tourists arriving in Morocco in July rose 10 percent from a year earlier and 4 percent compared to June, the Tourism Ministry said. In the seven months to July, 5.6 million visitors came to Morocco, with British tourist arrivals contributing for most of growth followed by Italian and Spanish tourists, the ministry said. (more)

Rwanda says expects new airport by 2014
7 September 2010 - Rwanda expects to have a new airport by 2014 and has set aside $98 million as capital for its national airline over the next three years with a view to then selling it off once it breaks even, a top government official said on 3 September. Finance Minister John Rwangombwa told Reuters that RwandAir was expected to break even in 2013. He said the airline was pivotal to the new airport to be located at Bugesera. (more)

South Africa's PMI back in expansionary territory
7 September 2010 - South Africa's purchasing managers' index (PMI) moved into expansionary territory in August after two consecutive months below the key 50 line, indicating a recovery in demand for factory goods. Also supporting PMI was a continued moderation in the rate of job losses in the manufacturing sector, with the employment subcategory rising in the index for the second month running. Purchasing managers were more upbeat about the outlook, with the expected business conditions subcategory rising from July. (more)

Uganda inflation at 6-year low in August at 1.7 per cent y/y
7 September 2010 - Uganda's year-on-year headline inflation rate eased to a 6-year low of 1.7 per cent in August from 3.2 per cent in July, the Uganda Bureau of Statistics (UBS) said on 31 August. The 'food prices index decreased by 5.5 per cent for the year ending August 2010 compared with a decrease of 0.4 per cent registered for the year ended July 2010.' (more)

Uganda's 2010 exports seen growing 4-6 per cent: board
7 September 2010 - Uganda's export receipts will rise by 4-6 per cent in 2010 compared to last year, helped by higher commodity prices and growing demand in key markets, the Uganda Export Promotion Board (UEPB) said on 6 September. Uganda exports cotton and fresh-cut flowers, amongst other things. However, east Africa's third largest economy anticipates a surge in export earnings when it starts commercial production of oil as early as the final quarter of 2011. (more)