Reuters Africa Business

(Removes extraneous word from the headline) DAR ES SALAAM (Reuters) – The World Bank predicts Tanzania’s economy to expand between 4.5% to 5.5% this year compared to 4.3% in 2021, as a rollback of coronavirus-related restrictions in many countries boosts tourism and trade, its country director said on Tuesday. After initially downplaying the severity of …

World Bank sees Tanzania’s economy expanding up to 5.5% this year Read More »

JOHANNESBURG (Reuters) – South African manufacturing activity expanded further in February, as better demand supported new sales orders and output volumes, a survey showed on Tuesday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) rose to 58.6 points in February from 57.1 points in January, remaining above the 50-point mark that separates expansion from contraction. “Respondents …

South Africa factory activity expands further in February – Absa PMI Read More »

TUNIS (Reuters) – Tunisia has raised fuel prices by about 3% for the second time in a month due to a sharp rise in oil prices, in an effort to rein in its budget deficit, the Energy Ministry said on Monday. The North Africa country, suffering from its worst financial crisis, is trying to agree …

Tunisia raises fuel prices for second time in a month Read More »

By MacDonald Dzirutwe and Estelle Shirbon ABUJA (Reuters) -The OPEC chief and ministers from major African oil producing countries on Monday defended investments in fossil fuels, saying Africa’s development needs were being overlooked in the global drive towards decarbonisation. Africa accounts for less than 3% of global carbon emissions while some 600 million Africans have …

OPEC chief, African ministers defend oil and gas investments Read More »

By Nelson Banya (Reuters) – South African gold producer Harmony Gold expects a near-term gold price boost from the Russia-Ukraine crisis, chief executive officer Peter Steenkamp told Reuters on Monday, after the company reported a 65% decline in half-year profit. Gold has risen by about 6% so far in February in the build-up to Russia’s …

S.Africa’s Harmony Gold sees price boost from Russia-Ukraine crisis Read More »

NAIROBI (Reuters) – Kenya’s year-on-year inflation slid to 5.07% in February from 5.39% a month earlier, the statistics office said on Monday. On a monthly basis, inflation was 0.40% from 0.31% in January, the Kenya National Bureau of Statistics said in a statement. (Reporting by George Obulutsa; Editing by Duncan Miriri)