ADDIS ABABA, Ethiopia - Preparations are underway for the 10th African Development Forum (ADF) to be convened by the Economic Commission for Africa, the African Union and the African Development Bank.
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By 6:30 am on 24 June, less than 12 hours after a successful referendum on Brexit (Britain's exit from the European Union), South Africa's currency, the rand, took the first blow. It plunged by almost 8% from R14.33 to R15.45 against the US dollar, its steepest single-day decline since the 2008 financial crisis. Brexit sent shock waves through the global markets, including those in Africa.
By Amelia Tan 17 Aug 2016