NAIROBI (Reuters) – Kenya’s inflation fell to 4.3% year-on-year in July from 4.6% a month earlier, the statistics office said on Wednesday. On a monthly basis, inflation was -0.2% from 0.4% in June. The Kenyan government targets an inflation rate of between 2.5% and 7.5% in the medium-term. The central bank is due to announce …
By Patrick Werr CAIRO (Reuters) – Egyptian microfinance lending and payments company MNT-Halan’s recent purchase of Turkey’s biggest nonbank micro-leasing company will help develop its factoring business in Egypt while expanding consumer credit in Turkey, its chief executive said. MNT-Halan, Egypt’s first unicorn – or privately held venture capital company worth more than $1 billion …
Egypt’s MNT-Halan says Turkish acquisition to help expand consumer credit, factoring Read More »
JOHANNESBURG (Reuters) -South Africa’s rand strengthened on Wednesday, ahead of a much-anticipated policy decision by the U.S. Federal Reserve. At 1535 GMT, the rand traded at 18.19 against the dollar, more than 0.7% stronger than its previous close. Investors’ focus will be on the Fed later on Wednesday for clues to the future interest rate …
South African rand gains ahead of Fed policy decision Read More »
By Manuel Mucari MAPUTO (Reuters) -Mozambique’s central bank cut its main interest rate for the fourth monetary policy meeting in a row on Wednesday, saying the inflation outlook remained favourable and more rate cuts were likely to follow. The bank cut its MIMO interest rate to 14.25% from 15.00%, its fourth consecutive 75-basis-point reduction. Bank …
Mozambique key interest rate cut again, more easing likely Read More »
DUBAI (Reuters) – Algerian state oil and gas firms Sonatrach and Sonelgaz signed a memorandum of understanding (MoU) with Italy’s Eni on Wednesday to study the feasibility of a power interconnection project to build a submarine cable to supply electricity to Italian and European markets, Sonatrach said. (Reporting by Nayera Abdallah, Editing by William Maclean)
(Reuters) -The World Bank’s board has approved $1.5 billion in financing for its first ever budget support lending to Ethiopia, the lender said late on Tuesday as the east African nation tries to push ahead with a long-running debt restructuring. Africa’s second-most populous country secured a four-year, $3.4 billion programme from the International Monetary Fund …
World Bank approves $1.5 billion in financing for Ethiopia Read More »
JOHANNESBURG (Reuters) – South African upmarket fashion and food retailer Woolworths said it expects to report a decline of up to 32% in full-year total headline earnings on weak sales, as higher living costs continue to weigh on discretionary spend. Woolworths said on Wednesday headline earnings per share (HEPS) for total operations are expected to …
South Africa’s Woolworths flags sharp drop in profit as shoppers spend less Read More »
(Reuters) – France’s Societe Generale on Tuesday said it will divest its entire stake in its subsidiary of the Western Africa nation of Benin and its branch in the neighbouring nation, Togo. The transaction is expected to have a negative accounting impact of approximately 25 million euros ($27.03 million) in the third quarter for the …
SocGen’s Benin unit divestiture to cost $27 million in Q3 Read More »
By Sinéad Carew and Chris Prentice NEW YORK (Reuters) -MSCI’s global equities gauge lost ground on Tuesday as investors were jittery ahead of major corporate earnings reports and central bank meetings, while concern about the global economy pushed oil prices lower. U.S. Treasury yields drifted lower in choppy trading as investors geared up for the …
Global stock index dips on earnings and Fed jitters Read More »
By Amindeh Blaise Atabong YAOUNDE (Reuters) – Cameroon on Tuesday signed a bauxite mining deal worth at least $2 billion with a subsidiary of Australia-based Canyon Resources, as the central African nation seeks to become an upper middle-income country by 2035. Camalco, the Cameroonian subsidiary of the Australian miner, will carry out the direct shipping …
Cameroon signs bauxite deal with Canyon Resources Read More »
