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Zuma’s no confidence vote, Nigeria’s forex reserves, Kenya’s economic growth and more

Business, economy, finance in Africa on November 29, 2016

South Africa’s President Jacob Zuma survived a vote of no confidence even as finance minister Pravin Gordhan called for responsible leadership. Meanwhile the country’s business confidence fell in the fourth quarter as measured by a Rand Merchant Bank (RMB) index.

Nigeria’s forex reserves have grown by $657.7 million as of Friday, November 25, 2016 over the past four weeks. However, forex bureaus in the parallel market are finding it hard to access dollars from banks.

Barclays Bank analysts project Kenya’s economy to steadily grow despite heading into an election year backed by increased agricultural output and investments in infrastructure.

Morocco’s state airline, Royal Air Maroc, nearly doubled its 2015 profits, the company reported.