Reuters Africa Business

NAIROBI (Reuters) -Settlement talks have collapsed between Facebook’s parent company Meta and Kenyan content moderators over a lawsuit alleging unfair dismissal, a tech rights group working with the moderators said on Monday. The 184 moderators sued Meta and two subcontractors earlier this year after they say they lost their jobs with one of the subcontractors, …

Mediation fails between Meta and Kenyan moderators, rights group says Read More »

By Felix Onuah ABUJA (Reuters) -Nigeria’s cabinet has approved proposed borrowing of $1.5 billion from the World Bank, its finance minister said on Monday. Olawale Edun, who is also coordinating minister for the economy, told reporters after a cabinet meeting the World Bank had agreed to process the concessionary financing. On Friday, the World Bank …

Nigeria’s cabinet OKs proposed $1.5 billion loan from World Bank Read More »

By Felix Onuah ABUJA (Reuters) – Nigeria plans to spend 26.01 trillion naira ($34 billion) for the 2024 budget and will assume an oil price of $73.96 for its expenditures at an exchange rate of 700 naira per dollar, its budget minister said on Monday. Atiku Bagudu, speaking to reporters, also said Nigeria will target …

Nigeria proposes 26 trillion naira budget for 2024 Read More »

By Rachel Savage and Jorgelina do Rosario MARRAKECH, Morocco (Reuters) -The World Bank is in talks about a potential $1 billion loan to help enable South Africa to reform its energy sector, a bank official told Reuters, as the country tries to overcome record power cuts that have crippled the economy. The loan, which would …

South Africa may get $1 billion loan from World Bank to tackle power crisis Read More »

By Jorgelina do Rosario and Rachel Savage MARRAKECH, Morocco (Reuters) -Zambia has agreed a memorandum of understanding (MoU) with its bilateral creditors on restructuring about $6.3 billion of debt, almost three years after the southern African country defaulted, the finance ministry said on Saturday. Zambia was the first African country to default on its debt …

Zambia, bilateral creditors agree debt rework memorandum of understanding – finance ministry Read More »

By Ahmed Eljechtimi MARRAKECH, Morocco (Reuters) – Tunisia has not made new proposals for terms of a long-delayed $1.9 billion International Monetary Fund loan, and should eliminate wasteful and socially unfair subsidies, IMF Middle East and Central Asia director Jihad Azour said on Thursday. Azour told a news briefing at IMF-World Bank annual meetings in …

IMF official says Tunisia has not proposed new loan terms Read More »