Reuters Africa Business

By Nqobile Dludla JOHANNESBURG (Reuters) – South Africa’s competition watchdog has uncovered barriers to entry, distorted competition and price mark-ups in its fresh produce market, according to a provisional report released on Tuesday after an inquiry. Last year the Competition Commission launched the Fresh Produce Market inquiry in order to examine whether any features in …

South Africa finds high prices, lack of competition in its fresh produce market Read More »

ABIDJAN (Reuters) -Ivory Coast expects a more than threefold increase to its oil output by 2027, boosted by recent oil and gas discoveries at the West African nation’s Baleine and Calao offshore fields, President Alassane Ouattara said on Tuesday. The world’s top cocoa-producing nation is hoping to become a major regional oil and gas producer …

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By Humphrey Malalo NAIROBI (Reuters) -A Kenyan parliamentary panel recommended on Tuesday that the government scrap some new taxes proposed as part of next year’s budget, as hundreds of protesters angered by the measures took to the streets in the capital Nairobi. The tax hikes, including new levies on cars and bread, are the latest …

Kenyan parliament panel urges govt to scrap some new taxes as hundreds protest Read More »

JOHANNESBURG (Reuters) -South African insurer Sanlam will buy a 60% stake in MultiChoice’s insurance business for 1.2 billion rand ($66 million) in cash upfront and a potential performance-based earn-out of up to 1.5 billion rand, the groups said on Tuesday. MultiChoice, Africa’s biggest pay-TV company, said that while its insurance business has demonstrated substantial growth …

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JOHANNESBURG (Reuters) -Telkom, South Africa’s third-biggest telecom company, on Tuesday posted a full-year profit of 1.9 billion rand ($103.95 million) and said it would consider resuming dividends from 2025. The company restated its year-earlier result, a loss after tax of 9.9 billion rand, reflecting restructuring costs. Its latest earnings saw write-offs of property, plant and …

South Africa’s Telkom posts profit, might resume dividend Read More »