Reuters Africa Business

(Reuters) -South African retailer Woolworths said it expected annual earnings to be more than 20% lower than the prior year, partly impacted by the sale of its David Jones business and consumers cutting down on discretionary spending. Retailers such as Woolworths have been grappling with challenging trading conditions at a time cash-strapped customers rein in …

S. African retailer Woolworths sees over 20% drop in annual earnings Read More »

GABORONE (Reuters) – Botswana’s President Mokgweetsi Masisi on Wednesday called synthetic gems a threat to the country’s economic lifeblood, as the government readies to launch a $6 billion project to extend the life of its flagship Jwaneng diamond mine. The natural diamond market has struggled in the past two years due to rising consumer demand …

Botswana flags synthetic gem threat ahead of $6 billion diamond project launch Read More »

LAGOS (Reuters) – Nigeria on Wednesday re-opened the first phase of a Chinese-built light railway network in the capital Abuja, four years after it was suspended due to the COVID-19 pandemic and immediately announced free rides for commuters. Built by China Civil Engineering Construction Corporation at a cost of $823 million, the railway network at …

Nigeria revives light rail line in capital, offers free rides Read More »

(Reuters) – BHP Group said on Wednesday it did not intend to make a formal offer for Anglo American, walking away from its $49 billion takeover deal, after the London-listed rival refused to extend the bid deadline. “We were unable to reach agreement with Anglo American on our specific views in respect of South African …

BHP walks away from $49 billion takeover offer for Anglo American Read More »

By Nayera Abdallah and Sarah El Safty DUBAI/CAIRO (Reuters) – Egypt, often the world’s biggest wheat importer, will raise the price of heavily subsidised bread for the first time in decades, a politically sensitive decision that has been delayed for years. The price of subsidized bread will jump 300% to 20 piasters ($0.0042) from 5 …

Egypt to raise subsidized bread price by 300%, PM says Read More »

By Jennifer Rigby and Ludwig Burger FRANKFURT (Reuters) -COVID-19 vaccine maker BioNTech has secured up to $145 million in funding from a global coalition against infectious diseases to help build a production network in Africa for shots based on cutting-edge messenger-RNA (mRNA) technology. BioNTech and the Coalition for Epidemic Preparedness Innovations (CEPI) said in a …

BioNTech gets $145 million funding for African vaccine plants Read More »

By Nqobile Dludla and Supantha Mukherjee JOHANNESBURG/STOCKHOLM (Reuters) – Amazon Web Services (AWS) plans to offer cloud computing in Morocco and Senegal using its AWS Wavelength platform in partnership with Orange, the firms said on Wednesday. This will be the first time the services will be available in any country without physical AWS infrastructure such …

AWS, Orange to offer cloud computing in Morocco, Senegal Read More »