Reuters Africa Business

By Vuyani Ndaba JOHANNESBURG (Reuters) – The Bank of Ghana and the Central Bank of Kenya will pause cutting interest rates at their upcoming meetings and resume in May, a Reuters poll found on Thursday, as inflation challenges in the region suggest a cautionary stance for policymakers. While central banks in countries directly in the …

Central banks of Ghana and Kenya to pause rates in coming days until May: Reuters poll Read More »

JOHANNESBURG (Reuters) – South Africa’s producer inflation was at 1.0% year on year in February from 1.1% in January, statistics agency data showed on Thursday. The Producer Price Index was at 0.4% in month-on-month terms in February, Statistics South Africa said. (Reporting by Tannur Anders; Editing by Alexander Winning)

JOHANNESBURG (Reuters) – South Africa recorded foreign direct investment inflows of 7.5 billion rand ($411.76 million) in the fourth quarter, compared to outflows of 3.2 billion in the third quarter, central bank data showed on Thursday. The South African Reserve Bank said in its Quarterly Bulletin that the inflows were due to increased equity investment …

South Africa shifts to FDI inflows in fourth quarter, central bank says Read More »

(Reuters) – South Africa’s United National Transport Union (UNTU) said on Thursday it rejected a final wage offer tabled by state-owned logistics group Transnet, which was signed by a smaller union. Transnet on Thursday announced a three-year pay agreement with the South African Transport and Allied Workers’ Union (SATAWU) to replace the current wage deal …

Transnet’s major union rejects wage deal agreed by rival Read More »

DAKAR (Reuters) – The International Monetary Fund on Wednesday called for Senegal to streamline tax exemptions and phase out costly energy subsidies as part of “urgent reforms” after an audit revealed misreporting of economic data. The IMF suspended its existing $1.8 billion credit facility to the Western African nation pending a review of state finances, …

IMF says ‘urgent reforms’ needed to address Senegal’s debt woes Read More »

CAIRO (Reuters) – Egypt’s cabinet approved a 4.6 trillion Egyptian pound ($91 billion) draft state budget for the financial year that will begin in July, a government statement said on Wednesday, as it continues to tighten its finances under an IMF programme. Expenditures will rise by 18% and revenue by 19% over the current 2024/25 …

Egypt approves $91 billion budget for 2025/26 Read More »