Reuters Africa Business

By Tim Cocks PRETORIA (Reuters) – South Africa’s new energy minister vowed on Monday to accelerate the shift to renewable energy from coal, breaking with a predecessor who opposed swift decarbonision and pledged to keeping burning coal for a long time. Kgosientsho Ramokgopa, who now runs the newly-created Energy and Electricity Ministry, was addressing journalists …

South Africa energy minister vows change with ‘aggressive’ renewables rollout Read More »

By MacDonald Dzirutwe LAGOS (Reuters) – Nigeria plans to suspend taxes on certain food imports including wheat and maize for 150-days, and recommend a retail price to try to bring under control rising prices in Africa’s most populous nation, its agricultural minister said on Monday. The move is part of the government’s policy to curb …

Nigeria to suspend taxes on certain food imports to curb rising prices Read More »

CAIRO (Reuters) – Inflation in Egypt is forecast to have extended a slowdown for a fourth month in June, maintaining a downward trajectory that most analysts expect to last for the rest of the year at least, a Reuters poll showed on Monday. The inflation reading will reflect the June 1 300% increase in the …

Egypt’s inflation seen declining for fourth month in June, Reuters poll shows Read More »

ABIDJAN (Reuters) – Rains were below average last week in most of Ivory Coast’s main cocoa growing regions but the west African nation’s farmers said on Monday the soil was moist enough to help the next October-to-March main crop grow. The world’s top cocoa producer is in its rainy season, which runs officially from April …

Soil moisture helps Ivory Coast’s cocoa main crop grow Read More »

CAIRO (Reuters) – Egypt’s current account deficit more than tripled to $17.1 billion in the first nine months of fiscal 2023/24 compared to $5.3 billion a year earlier as oil exports plunged by $7.2 billion to $4.6 billion, the central bank said on Monday. Meanwhile, imports of oil products rose by $1.5 billion and those …

Egypt’s July-March current account deficit triples, central bank says Read More »

By Ope Adetayo and Felix Onuah ABUJA (Reuters) – The Economic Community of West African States (ECOWAS) said on Sunday the region risked disintegration and worsening insecurity after junta-led Burkina Faso, Mali and Niger made clear their intentions to leave the bloc by signing a confederation treaty. The Alliance of Sahel States treaty, signed on …

West African bloc says it risks disintegration if junta-led states leave Read More »

(Reuters) – South Africa’s state power company Eskom is set to publish figures showing a 15 billion rand ($823 million) annual loss, the Financial Times reported on Saturday. The loss is largely due to Eskom spending 33 billion rand on buying diesel which is burnt in open-cycle gas turbines to keep the lights on, the …

South African utility Eskom facing annual loss of $823 million, FT reports Read More »