Reuters Africa Business

Kenya’s Safaricom signs $103 million loan for sustainable projects

5 Sep 2023

NAIROBI (Reuters) – Kenyan telecoms firm Safaricom has signed a loan deal worth 15 billion shillings ($102.95 million) with domestic banks, the proceeds of which will go towards funding environmentally sustainable projects. The loan, signed with a consortium comprising Standard Chartered Bank Kenya, Stanbic Bank, ABSA Bank Kenya and KCB Bank, has the option of …

Kenya’s Safaricom signs $103 million loan for sustainable projects Read More »

Egypt’s non-oil private sector shrinkage steady in August -PMI

5 Sep 2023

CAIRO (Reuters) – Egypt’s non-oil private sector kept shrinking at a subdued rate in August, while expectations for the future improved marginally, the S&P Global Egypt Purchasing Managers’ Index (PMI) showed on Tuesday. The PMI index remained at 49.2 in August, unchanged from July yet still below the 50.0 threshold that separates growth from contraction. …

Egypt’s non-oil private sector shrinkage steady in August -PMI Read More »

Nigeria can boost gas output to more than 5 bcf a day by 2030 – minister

5 Sep 2023

SINGAPORE (Reuters) – Nigeria has sufficient natural gas reserves and can increase its production to more than 5 billion cubic feet per day by 2030, Ekperikpe Ekpo, Nigeria’s minister of state for gas, told the Gastech conference on Tuesday in Singapore. “In Nigeria, it has been declared a decade of gas from 2020 to 2030. …

Nigeria can boost gas output to more than 5 bcf a day by 2030 – minister Read More »

Oil edges up on prospect of extended OPEC+ supply cuts

4 Sep 2023

By Stephanie Kelly NEW YORK (Reuters) -Oil prices edged higher on Monday on expectations that OPEC+ would keep supplies tight and speculation that the U.S. Federal Reserve will cease its aggressive interest rate hike campaign. Saudi Arabia has spearheaded efforts to support prices, making large voluntary output cuts as part of a production deal agreed …

Oil edges up on prospect of extended OPEC+ supply cuts Read More »

Tunisia’s bad economy hits coeliac sufferers with rice shortage

4 Sep 2023

By Latifa Guesmi and Jihed Abidellaoui TUNIS (Reuters) – For Siwar Derbeli a national rice shortage is not just another inconvenient symptom of Tunisia’s stretched national finances but a source of hunger because the coeliac disease she suffers from means it is one of the few staples she can comfortably eat. Shortages of imported goods …

Tunisia’s bad economy hits coeliac sufferers with rice shortage Read More »

Miner ARM to tread carefully in hunt for overpriced green assets

4 Sep 2023

By Nelson Banya (Reuters) -South Africa’s African Rainbow Minerals (ARM) is seeking lithium and copper acquisitions but is concerned about “crazy money” being paid for metal assets considered vital to the clean energy transition. ARM has walked away from three potential deals because the prices “did not make sense”, Executive Chairman Patrice Motsepe said on …

Miner ARM to tread carefully in hunt for overpriced green assets Read More »

Eni to become latest energy giant to exit Nigerian onshore operations

4 Sep 2023

(Reuters) -Italy’s Eni signed on Monday an agreement to sell its unit Nigerian Agip Oil Company (NAOC) to Nigerian counterpart Oando, the group said in a statement, in the latest move by an energy giant out of the country. Amid rampant oil theft from pipelines, perpetual clashes with communities and more focused exploration budgets, nearly …

Eni to become latest energy giant to exit Nigerian onshore operations Read More »

Zambia’s Mopani Copper Mine H1 losses worsen as output slumps

4 Sep 2023

LUSAKA (Reuters) – Zambia’s Mopani Copper Mines’ output declined in the first-half of this year contributing to deeper losses at the operation bought from Glencore in 2021. Mopani’s losses worsened to $196 million in the six months through June, compared to $120 million in the prior period, as output dropped and costs rose, parent company …

Zambia’s Mopani Copper Mine H1 losses worsen as output slumps Read More »

Close Bitnami banner
Bitnami