Reuters Africa Business

By Rachel Savage and Chris Mfula JOHANNESBURG/LUSAKA (Reuters) – Zambia’s kwacha is Africa’s best performing currency against the U.S. dollar so far this year after the central bank sharply tightened monetary policy, but analysts said it would strengthen sustainably only if the country attracts more foreign investment. The kwacha has rallied 13.8% to 22.8 against …

Zambia’s kwacha is Africa’s best performing currency in 2024 Read More »

By Camillus Eboh ABUJA (Reuters) – Nigeria’s Senate on Thursday confirmed the appointment of 12 new members of the central bank’s Monetary Policy Committee (MPC), setting the stage for the bank to hold an interest rate meeting next week, the first since July. Central bank governor Olayemi Cardoso, who was appointed in September, faces pressure …

Nigeria confirms new central bank policy committee members ahead of rates meeting Read More »

JOHANNESBURG (Reuters) – Tiger Brands, South Africa’s biggest food producer, is reviewing spending and the number of brands it sells, it said on Thursday, after inflation drove consumers to buy less, knocking its revenues lower in the four months to the end of January. It also flagged flat to lower operating income for the six …

South Africa’s Tiger Brands pursues efficiency after sales volumes shrink Read More »

By Elisha Bala-Gbogbo ABUJA (Reuters) – Nigeria’s economy grew 3.46% in the fourth quarter, a similar pace as it did a year earlier, data showed on Thursday, as oil output picked up and government reforms to boost growth began to take effect. Gross domestic product grew quicker than in the two previous quarters of 2023. …

Nigeria’s economy grows steadily as oil output rises Read More »

(Reuters) -South Africa’s Gold Fields on Thursday raised its 2024 gold output forecast to between 2.33 million and 2.4 million ounces, saying it expects a rapid production ramp-up at its new Salares Norte mine in Chile, which comes online in April. The Johannesburg-based miner is racing to start production at Salares Norte after several delays, …

Gold Fields eyes rapid ramp-up at new Chile mine, lifts output forecast Read More »