Reuters Africa Business

By Camillus Eboh ABUJA (Reuters) -Nigeria’s Senate has approved President Bola Tinubu’s plan for more than $21 billion in foreign borrowing to plug shortfalls in the 2025 budget, a senior lawmaker said late on Tuesday. Tinubu asked parliament to approve the borrowing in May. “With this approval we now have all revenue sources, including loans, …

Nigeria’s Senate approves President Tinubu’s $21 billion external borrowing plan Read More »

By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s Competition Tribunal has approved Canal+’s 35 billion rand ($2 billion) takeover offer for TV broadcaster MultiChoice, subject to agreed conditions, the companies said on Wednesday. The deal could potentially reshape Africa’s media landscape, kicking off a consolidation process aimed at countering global streaming giants such as Netflix. The …

Canal+ gets conditional approval for MultiChoice takeover Read More »

By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s biggest mobile operator Vodacom Group reported a rise of 11.4% in first-quarter service revenue on Wednesday compared to the same period last year, supported by growth in Egypt and group financial services. Vodacom, majority-owned by Britain’s Vodafone, said group service revenue rose to 32.3 billion rand ($1.84 billion)in …

Vodacom’s first-quarter service revenue rises 11.4% on Egypt growth Read More »

By Nqobile Dludla JOHANNESBURG (Reuters) -South African clothing retailer Mr Price reported a 6.3% rise in its first-quarter sales on Wednesday, with comparable store sales up 3%, supported by the shift of Easter holidays into April and a timely winter season. Mr Price, which also sells furniture and homeware, said group sales grew to 9 …

Mr Price retailer credits Easter, timely winter season for quarterly sales bump Read More »

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar slid on Tuesday, with the yen one of the major gainers versus the greenback, as investors tracked talks ahead of an August 1 deadline that could bring steep tariffs on products of U.S. trading partners that fail to strike deals. Trading was mostly subdued, with the Japanese …

US dollar slumps as Trump’s tariff deadline looms Read More »

By Ahmed Elimam and Tala Ramadan DUBAI (Reuters) -Egypt’s current account deficit narrowed to $2.1 billion in January to March 2025 from $7.5 billion in the same period a year earlier, the central bank said on Tuesday. The central bank attributed the slimmer deficit to the increase in remittances from Egyptians working abroad, as well …

Egypt quarterly current account deficit eases to $2.1 billion on higher remittances Read More »

JOHANNESBURG (Reuters) -The South African rand was slightly stronger on Tuesday after the second-biggest party in the coalition government said it would vote in support of the last major piece of budget legislation. The Democratic Alliance (DA) said it would back the Appropriation Bill in parliament on Wednesday after President Cyril Ramaphosa acceded to one …

South African rand edges up after coalition partner backs budget bill Read More »