Reuters Africa Business

JOHANNESBURG (Reuters) – South African pharmacy chain Dis-Chem Pharmacies reported a 1.6% decline in full-year earnings on Friday reflecting a strong previous year and absence of COVID-19 vaccine administration and testing services. Headline earnings per share, a key profit measure in South Africa, fell to 114.7 cents in the year ended Feb.29 from 116.3 cents. …

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By Felix Onuah ABUJA (Reuters) – Nigeria has secured a $500 million World Bank loan for its electricity sector to boost power distribution, after last month’s hike in tariffs for top consumers in Africa’s most populous nation. The Bureau of Public Enterprise (BPE), the country’s privatisation agency, on Thursday said the loan was approved by …

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By Camillus Eboh ABUJA (Reuters) – Nigeria’s NNPC said it plans to build six compressed natural gas (CNG) service plants with local firm Axxela to expand access to alternative fuel for cars and industries after commissioning its first plant in Lagos on Thursday. The plan is part of the oil- and gas-rich nation’s effort to …

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PRETORIA (Reuters) – Below are some quotes from South African Reserve Bank Governor Lesetja Kganyago at a news conference to announce the central bank’s latest interest rate decision. INFLATION “We now see inflation stabilising at our 4.5% objective in the second quarter of next year. This is an improvement on our March forecast, which only …

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