Reuters Africa Business

By Christian Akorlie and Maxwell Akalaare Adombila ACCRA (Reuters) -Ghana’s finance minister raised the country’s 2024 growth forecast on Tuesday and said the West African nation was rebounding faster than expected from its worst economic crisis in a generation. Citing the positive impact of debt restructuring and reforms, Mohammed Amin Adam told parliament during a …

Ghana revises 2024 growth forecast higher as economy rebounds Read More »

By Elisha Bala-Gbogbo and Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s central bank on Tuesday raised its benchmark interest rate for the fourth time this year, as inflation surged to a 28-year high and the naira came under renewed pressure on both the official and parallel markets. Central Bank of Nigeria Governor Olayemi Cardoso said the rise …

Nigeria central bank hikes rate further as inflation bites Read More »

By Camillus Eboh ABUJA (Reuters) – Nigerian lawmakers passed legislation on Tuesday to more than double the minimum wage to 70,000 naira ($44.16) a month, ending months of wrangling between the government and labour unions. The wage bill, which passed at an accelerated hearing, amends the 2019 minimum wage law, cutting the review period for …

Nigerian lawmakers pass minimum wage bill, ending labour dispute Read More »

JOHANNESBURG (Reuters) -Anglo American’s South African iron ore unit said on Tuesday private investors could help fix South Africa’s failing rail network as it continues to struggle with shipping products to ports for export. Kumba Iron Ore said iron ore stockpiles at its mines swelled to 8.2 million metric tons in the first half of …

Anglo’s Kumba iron ore unit says private investors could help ease rail bottlenecks Read More »

By Patrick Werr CAIRO (Reuters) – Egyptian economic growth will be slightly slower this year than thought in April following a $8 billion agreement signed with the International Monetary Fund in March, a Reuters poll showed on Monday. The median forecast in the Reuters poll of 17 economists was for gross domestic product (GDP) to …

Egypt’s economy to grow by 4.0% in 2024/25, analysts predict: Reuters poll Read More »