Reuters Africa Business

ABUJA (Reuters) – Nigeria’s lower house of parliament passed the medium-term expenditure framework for 2024-2026 on Tuesday, a set of assumptions that will be used to prepare the country’s budget over the next three years. The document, which was agreed by President Bola Tinubu’s cabinet before going to the House of Representatives for approval, expects …

Nigeria lawmakers pass 2024-2026 budget framework with naira at 700 to dollar next year Read More »

NAIROBI (Reuters) – Kenya said on Tuesday that its funding strategy had shifted focus to concessional loans given uncertainty around its access to global bond markets. The East African country’s public finances have been pressured by the legacy of the COVID-19 pandemic and frequent climate change-induced droughts. Its ability to access funding before a $2 …

Kenya says focus of its funding strategy has shifted to concessional loans Read More »

By Rachel Savage JOHANNESBURG (Reuters) – The African Development Bank (AfDB) could launch its debut hybrid capital note, sized between $500 million and $1 billion, before the end of the month if market conditions are right, the bank’s acting treasurer said. AfDB is set to become to first multilateral lender to issue a perpetual hybrid …

AfDB hybrid capital note could launch before end-November Read More »

JOHANNESBURG (Reuters) – South Africa’s third-biggest telecom company Telkom on Tuesday reported a 46.7% jump in half-year profit, boosted by lower depreciation charges and growth in core profit. Telkom, majority-owned by the government, said its headline earnings per share, a profit measure, rose to 1.95 rand in the six months ended Sept. 30 from a …

South Africa’s Telkom half-year profit jumps on lower depreciation cost Read More »

JOHANNESBURG (Reuters) – South Africa’s third-biggest telecom company, Telkom, said on Tuesday that it is in exclusive negotiations with a preferred bidder on the possible sale of its masts and towers business, Swiftnet. Telkom, also a fixed-line phone company, said the preferred bidder is a consortium of equity investors, including a Black Economic Empowerment partner, …

South Africa’s Telkom in exclusive talks on sale of towers business Read More »

By Andreas Rinke and Sarah Marsh BERLIN (Reuters) – Germany will invest 4 billion euros in green energy projects in Africa until 2030, Chancellor Olaf Scholz said on Monday, noting these could in turn help Europe’s largest economy achieve its own transition to carbon neutrality. Germany will need to import large quantities of green hydrogen …

Scholz pledges greater investment in Africa’s green energy sector Read More »