Zambia's official creditors, which include China, are getting closer to signing a memorandum of understanding on debt relief to the country in May, in what would be a key step needed to pave the way for more IMF funding, sources told Reuters.
The Comesa market in Zambia's capital Lusaka appears to be bustling, but traders say business is suffering as a weak local currency pushes up prices, adding to the hardships of a population already struggling with soaring living costs.
A major U.S. trade preference program for Sub-Saharan Africa has been successful for developing the region's apparel sector in selected countries, but its benefits are not widespread throughout all countries and sectors, a new report to the U.S. Congress showed on Monday.
The Ugandan shilling was slightly weaker on Tuesday, pressured by appetite for hard currency from some players in the interbank market and energy importers, traders said.
The Kenyan shilling weakened slightly on Monday on demand for dollars from energy importers and foreign-owned firms looking to pay dividends to overseas shareholders, traders said.