Reuters Africa Business

(Reuters) -Two senior executives at Binance have been detained in Nigeria as the country cracks down on cryptocurrency exchanges, the Financial Times reported on Wednesday, citing people familiar with the matter. The executives flew to Nigeria following the country’s decision to ban several cryptocurrency trading websites last week but they were detained by the office …

Nigeria detains Binance executives in cryptocurrency crackdown, FT reports Read More »

JOHANNESBURG (Reuters) – South Africa’s rand slipped early on Wednesday and was set to take cues from the dollar in the absence of major economic data releases. At 0710 GMT, the rand traded at 19.1675 against the dollar, 0.41% weaker than its previous close. The dollar index was last trading up 0.16% against a basket …

South African rand slips against dollar Read More »

JOHANNESBURG (Reuters) – South Africa’s takeover panel has ruled that French media company Groupe Canal+ SA is required to make a mandatory offer immediately to buy shares of pay-TV company MultiChoice that it does not already own, MultiChoice said on Wednesday. Canal Plus, the biggest shareholder, earlier this month offered to buy the rest of …

Canal Plus must make offer to MultiChoice shareholders, says S.Africa regulator Read More »

JOHANNESBURG (Reuters) -South African fashion retailer Woolworths reported a 7.5% fall in half-year earnings on Wednesday, as consumers pulled back on discretionary spending and the country’s energy and logistics crisis persisted. The food, fashion and beauty products retailer, which targets mid- to upper-income consumers, said its headline earnings per share (HEPS) from continuing operations fell …

South Africa’s Woolworths H1 profit falls as shoppers spend less Read More »

By Andrea Shalal SAO PAULO (Reuters) – The International Monetary Fund has resolved key issues with Egyptian authorities in a review of its $3 billion loan program and should finalize an augmented financing package within weeks, IMF Managing Director Kristalina Georgieva told Reuters on Tuesday. Georgieva, in an interview on the sidelines of a G20 …

Exclusive-IMF’s Georgieva sees completion of Egypt loan reviews in ‘weeks’ Read More »

By Chijioke Ohuocha and Elisha Bala-Gbogbo ABUJA (Reuters) -Nigeria’s central bank delivered its largest rate hike in absolute terms in around 17 years on Tuesday to tame soaring inflation, amid nationwide trade union protests over price rises that have left people struggling to meet their basic needs. Central Bank of Nigeria Governor Olayemi Cardoso said …

Nigeria unveils big rate hike as hardship prompts worker protests Read More »