Reuters Africa Business

Ethiopian Airlines’ annual revenue rises as it draws more passengers, adds routes

5 Aug 2025

ADDIS ABABA (Reuters) -Ethiopian Airlines’ revenue rose 8% in the 2024/25 financial year, helped by higher passenger numbers and additional routes although it faced challenges on some routes due to conflicts, Chief Executive Mesfin Tasew Bekele said on Tuesday. The state-owned carrier, Africa’s biggest airline, saw passenger numbers increase by 11% to 19 million in …

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Kenya’s private sector activity contracts in July at steepest rate in a year

5 Aug 2025

NAIROBI (Reuters) -Kenya’s private sector contracted at the fastest pace in a year in July as input prices rose and protests disrupted some businesses, a survey showed on Tuesday. The Stanbic Bank Kenya Purchasing Managers’ Index fell to 46.8 in July from 48.6 a month earlier. Readings above 50.0 indicate growth in business activity, while …

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Libya’s NOC signs memorandum of understanding with ExxonMobil after decade of inactivity

5 Aug 2025

(Reuters) -Libya’s National Oil Corporation said on Monday it signed a memorandum of understanding with U.S. oil giant ExxonMobil after a decade of activity halt in the North African country due to security reasons. NOC in a statement said the MoU focuses on conducting detailed geological and geophysical studies to identify the hydrocarbon resources in …

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US dollar gains in consolidation move after Fed turmoil, Trump’s shake-up 

4 Aug 2025

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar slightly recovered on Monday, consolidating recent moves, after Friday’s trio of market-moving events that showcased the fragility of the greenback: a dismal U.S. jobs report, the resignation of a Federal Reserve Governor, and President Donald Trump’s firing of a top statistics official. Those developments battered the …

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South African rand boosted by gold as investors focus on tariffs

4 Aug 2025

JOHANNESBURG, August 4(Reuters) -South Africa’s commodity-backed currency edged up on Monday, helped by higher gold prices, as investors digested last week’s unexpectedly weak U.S. jobs data and awaited tariff updates ahead of the United States’ August 8 deadline. At 1502 GMT the rand traded at 17.96 against the U.S. dollar, about 0.3% firmer than Friday’s …

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Cold weather and scant rains worry Ivory Coast cocoa farmers

4 Aug 2025

ABIDJAN (Reuters) -A persistent cold spell across most of Ivory Coast’s cocoa-growing regions could jeopardize the development of the next October-to-March main crop, farmers warned on Monday, saying plantations need more sunshine and rain. The world’s largest cocoa producer is in the middle of the rainy season, which runs officially from April to mid-November. Rains …

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Nigeria’s July oil output tops 1.8 million bpd, regulator says

4 Aug 2025

By Isaac Anyaogu LAGOS (Reuters) -Nigeria’s oil production surpassed 1.8 million barrels per day (bpd) last month, with current average output at 1.78 million bpd, the head of the country’s upstream regulator said on Monday. The West African country, Africa’s largest oil producer, relies on crude oil for nearly two-thirds of government revenue and over …

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Stocks rise as investors cling to hopes for US rate cuts

4 Aug 2025

By Wayne Cole and Amanda Cooper SYDNEY/LONDON (Reuters) -Global stocks rose on Monday, boosted by the prospect of lower interest rates, after a weak U.S. jobs report prompted a dramatic re-assessment of the rate outlook and ignited concern over the reliability of U.S. economic data. Friday’s U.S. nonfarm payrolls report for July missed expectations and …

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