Tag: Gross Domestic Product

How services sector grew Rwanda’s GDP by 9.4% in 2019

Rwanda’s GDP increased by 9.4 per cent in 2019 to RWF9105 billion. The bulk of this came from the services sector which contributed 49 per cent. Jean Claude Mwizerwa, Director of Economic Statistics Department at the National Institute of Statistics of Rwanda (NISR) joins CNBC Africa for more.

The investment case for Nigeria’s mining sector

Nigeria’s Minister for Mines and Steel Development, Olamilekan Adegbite, says the country’s mining potential can surpass oil and gas. Meanwhile, data from the National Bureau of Statistics shows that Nigeria’s Mining and Quarrying sector contributed 8.85 to the 2019 GDP lower than the 10.68 per cent recorded in 2018. Joining CNBC Africa to make the investment case for Nigeria’s Mining sector is Cyril Azobu, Partner and Head of Consulting and Mining Leader at PwC.

Minister Claver Gatete outlines Rwanda’s infrastructure targets

The construction industry contributed to more than 30 per cent to Rwanda's GDP in the quarters two and three of last year which was largely attributed to the country's ambitious infrastructure growth. Minister of Infrastructure, Claver Gatete joins CNBC Africa for more.

How Kenya plans to reform unsustainable pension schemes

In a recent report the International Monetary Fund (IMF) warned Kenya of a potential implosion in the country's pension sector as the gap between retirement dues and savings widens. In 2009 the country rose the retirement age for civil servants from 55 to 60, temporarily staving off the fall out but now with tax collection at 15.6 of Gross Domestic Product (GDP) and pension obligations at 30 per cent, action may have to be taken. Journalist, Joseph Bonyo joins CNBC Africa for more.

How Kenyan SMEs can contribute more to the country’s GDP in 2020

Last year saw Small and medium-sized enterprises (SMEs) contributing over 30 to the Gross domestic product (GDP) of Kenya, with 83.6 per cent of the country's total employment created attributed to them, but they did face some challenges. SME Consultant, Victor Otieno joins CNBC Africa to discuss solutions that will enable this sector of entrepreneurs contribute even more in 2020.

South Sudan’s rebounding oil sector the catalyst behind growing economy

According to World Bank, South Sudan's economy recovered with a growth rate estimated at 3.2 during the financial year 2018/2019 from a contraction of 3.5 per cent during the 2017/2018 financial year. These developments reflect activity in the oil sector which rebounded strongly. Also, the country's total public debt during the fiscal year 2018/2019 was estimated at 34.2 of Gross Domestic Product (GDP) of which external debt is 30.2 per cent. Parek Maduot, Director of Economic Development &Regional Integration at ICGLR joins CNBC Africa for more.

Global Fund Chair Kaberuka assesses the impact of HIV on African economies

The long term effect of HIV both on a macro and micro economic level has been noted to have an effect on the Gross domestic product (GDP) of countries with high prevalence rates – in fact having a negative effect of between 0.5 and 1.7 per cent on their per capita GDPs. CNBC Africa's Arnold Kwizera spoke to Board Chair of Global Fund, Donald Kaberuka for more.

Nigeria’s Senate passes record N10.59tn 2020 budget

Nigeria’s Senate has passed the record N10.59 trillion 2020 budget. The budget passed by Nigeria's parliament assumes a deficit of 1.52 per cent of the estimated Gross domestic product (GDP) – representing about N2.18 trillion to be financed through foreign and domestic borrowing. Chamberlain Peterside, CEO of Xcellon Capital Advisors joins CNBC Africa to unpack the budget.