Reuters Africa Business

By Siyanda Mthethwa JOHANNESBURG (Reuters) – Tiger Brands, South Africa’s biggest food producer, on Monday offered to compensate listeriosis victims, marking a major step toward resolving class action after a 2017 outbreak that killed about 200 people and sickened more than 1,000. The offer was made by the attorneys representing Tiger Brands lead insurer, QBE …

South Africa’s Tiger Brands offers settlement to plaintiffs in listeriosis class action Read More »

(This May 8 story has been corrected to remove reference to bank funding in Kabeya’s quote, in paragraph 7) By Colleen Goko JOHANNESBURG (Reuters) – Banks in sub-Saharan Africa will not be directly impacted by U.S. import tariffs, but “second round effects”, including their impact on the macroeconomic outlook and on China, could still bite, …

Moody’s says tariffs may hit African banks through China slowdown Read More »

By Elisha Bala-Gbogbo ABUJA (Reuters) -Nigeria’s economy recorded its fastest growth in about a decade in 2024, driven by a strong fourth quarter and an improved fiscal position, the World Bank said on Monday, but warned that persistently high inflation remains a challenge. Bold reforms implemented by President Bola Tinubu, including ending costly petrol subsidies, …

Nigeria’s economy grows strongly amid high inflation, World Bank says Read More »

JOHANNESBURG (Reuters) -The South African rand weakened on Monday, weighed down by a much stronger dollar and lower gold prices after the United States and China announced a deal to cut reciprocal tariffs. The agreement brightened the financial market outlook and led to investors dumping safe-haven assets like gold, which fell 3%. At 1355 GMT, …

South African rand slips as US-China trade deal boosts dollar Read More »

By Nqobile Dludla JOHANNESBURG (Reuters) -South African mobile network operator MTN Group reported a 33% jump in first-quarter core profit due to strong service revenue growth, lower device cost of sales in its domestic market, and a more stable economic environment. The jump in group earnings before interest, tax, depreciation and amortisation on a constant-currency …

South Africa’s MTN Group reports 33% rise in first-quarter core profit Read More »

By Nqobile Dludla JOHANNESBURG (Reuters) -South African discount grocery retailer Boxer said on Monday it expects sales growth in a low-teens percentage for its current financial year given the competitive pressure in the food retail market and lower inflationary environment. Boxer, majority owned by Pick n Pay, competes with Shoprite’s Usave discounter and SPAR’s SaveMor …

South Africa’s Boxer expects low-teens percent annual sales growth amid competition Read More »