Botswana economy suffers steep contraction in Q2 on diamond sector woes

26 Sep, 2025 1 mins read 49 views

0 comments 0 likes

Botswana economy suffers steep contraction in Q2 on diamond sector woes

Botswana’s economic output fell sharply in the second quarter, reflecting a steep decline in output from its key diamond industry, data from the statistics agency showed on Friday.

Gross domestic product decreased 5.3% in year-on-year terms, the steepest quarterly contraction since the COVID-19 pandemic.

“Diamond production in carats declined 43.1% in the second quarter of 2025. The steep decline reflects the diamond companies continued effort to scale down operations amid sluggish global demand,” the statistics agency said in a report.

Economy

Nigeria boosts oil output, drilling activity as reforms attract investment

03 Oct, 2025 3 mins read 187 views

Nigeria has boosted daily crude oil output to between 1.7 million and 1.83 million barrels and the number of active drilling rigs from 31 in January to 50 by July, as reforms under President Bola Tinubu begin to unlock investment in the petroleum sector.

Economy

Zimbabwe economic growth rate to rebound to 6% this year, IMF says

03 Oct, 2025 4 mins read 184 views

Zimbabwe’s economic growth is expected to rebound to a 6% rate this year, the International Monetary Fund said, citing improving agricultural production, record-high gold prices and robust remittances from its citizens who live abroad.

Economy

Stellantis aims to broaden planned South Africa plant’s vehicle lineup

03 Oct, 2025 6 mins read 145 views

Stellantis intends to expand its product line-up at a planned manufacturing plant in South Africa, moving beyond pick-up trucks as shifting market dynamics prompt a strategy rethink, the company’s local manager said.