Reuters Africa Business

By Wendell Roelf CAPE TOWN (Reuters) – South African private power producers are seeking compensation for revenues lost when adhering to requests from state utility Eskom to limit electricity supply to the national grid, industry executives said. Eskom has submitted a proposal to the country’s energy regulator to introduce a mechanism to compensate independent power …

South African private power producers seek fair deal over output curbs Read More »

(Reuters) – South Africa’s Pick n Pay on Tuesday forecast first-half Group trading profit to decline on an yearly basis due to the late arrival of winter and port delays coupled with higher costs. (Reporting by Prerna Bedi in Bengaluru; Editing by Sonia Cheema)

WASHINGTON (Reuters) – The International Monetary Fund reached a staff-level agreement for Liberia on a new 40-month extended credit facility arrangement for $209 million, the IMF said in a statement on Monday. The arrangement is subject to approval by the IMF Executive Board, the IMF said, adding the board discussion is scheduled for Sept. 25. …

IMF reaches staff-level deal for Liberia on $209 million new credit facility Read More »

By Tannur Anders JOHANNESBURG (Reuters) -South Africa could have no scheduled power cuts over the next seven months if state-owned utility Eskom’s unplanned electricity losses stay at their current level, its chief executive said on Monday. Power cuts have restricted economic growth in South Africa for more than a decade, with outages on a record …

South Africa could have no power cuts over next 7 months, Eskom says Read More »

(Reuters) – Harmony Gold, South Africa’s biggest gold producer by volume, said on Monday its profit probably doubled in the year ended June 30, buoyed by a rise in output of the precious metal, better grades and a price rally. The Johannesburg-based miner reported preliminary headline earnings per share of $0.98 for the financial year, …

South Africa’s top gold miner sees profit surge as prices rally Read More »

By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s economy grew 3.19% in the second quarter of 2024 compared with the same quarter last year, lifted by higher crude oil production and the performance of its services sector, statistics agency data showed on Monday. The growth rate was quicker than the 2.51% growth recorded in the second quarter …

Nigerian economy grows over 3% in Q2 as oil output rises Read More »