Reuters Africa Business

By Tannur Anders and Kopano Gumbi JOHANNESBURG (Reuters) – South Africa’s finance minister has said that failing to raise the value-added tax rate from May would cause severe harm to state finances, court papers showed, after a stand-off over the proposal risked the stability of the coalition government. The two biggest parties in the coalition …

South Africa finance minister says dropping VAT hike would have severe consequences Read More »

By Camillus Eboh ABUJA (Reuters) – Nigeria and South Africa have signed an accord to boost cooperation in mining, Nigeria’s mines minister said on Thursday, highlighting Abuja’s push to diversify its economy away from oil. Mines Minister Dele Alake said the two countries will partner on mining, including geological mapping using drones, share mineral data, …

Nigeria signs minerals pact with South Africa in diversification push Read More »

(Reuters) – The IMF on Wednesday said it would release $129 million to Mali from its Rapid Credit Facility that will help the country address balance of payment needs following floods there. (Reporting by Costas Pitas; Editing by Doina Chiacu)

WASHINGTON (Reuters) – The International Monetary Fund and Gambian authorities reached a staff-level agreement that would give the West African nation access to part of $100.9 mln in funding approved in 2024, the IMF said in a statement. Subject to approval by the IMF board, the agreement on the third review of the program would …

IMF reaches staff-level agreement with Gambia, giving it access to part of $100.9 million Read More »

JOHANNESBURG (Reuters) – South African retail sales rose 3.9% year on year in February after rising by a 7.0% in January, Statistics South Africa figures showed on Wednesday. Retail sales fell 1.3% month on month in February. (Reporting by Tannur Anders and Bhargav Acharya; Editing by Alexander Winning)