By Nqobile Dludla JOHANNESBURG (Reuters) -RCL Foods reported on Monday a 21.6% rise in half-year profit and said it planned more price increases to help ease pressure on margins at the South African food producer and in anticipation of soaring wheat prices due to Russia’s invasion of Ukraine. Consumer goods companies worldwide are grappling with …
S.Africa’s RCL Foods plans more price increases on margin pressure Read More »
By Duncan Miriri NAIROBI (Reuters) – Kenyan digital payments company Cellulant plans to shift its focus to small and medium enterprises with the aim of turbo-charging its merchant acquisition growth to 50,000 this year from the current rate of about 1,000, its chief executive told Reuters. Investors have been flocking into African financial technology firms …
Kenya’s Cellulant targets 50,000 new merchants, boosts war chest Read More »
JOHANNESBURG (Reuters) – Private sector credit in South Africa increased by 3.12% year-on-year in January after rising by 2.58% in December, central bank data showed on Monday. The broadly defined M3 measure of money supply rose by 5.65% in January after expanding by 5.71% in the previous month. (Reporting by Olivia Kumwenda-Mtambo; Editing by Tom …
South Africa’s private credit up 3.12% y/y in January Read More »
CAIRO (Reuters) – Egypt, often the world’s top wheat importer, is working on a plan to buy wheat from other regions rather than Russia and Ukraine, the state news agency reported, citing Cabinet spokesman Nader Saad. “There are 14 approved countries Egypt could import wheat from, some of which are outside Europe,” Saad told a …
Egypt working to import wheat from regions other than Russia and Ukraine Read More »
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria will offer a naira incentive to exporters of semi-processed or finished goods made at home in a push to shore up the country’s dollar supply, the central bank said. Nigeria is facing chronic dollar shortages while rising demand has put pressure on the naira, as providers of foreign …
Nigeria to offer naira incentives to exporters to repatriate dollars Read More »
ALGIERS (Reuters) – Algeria, one of the world’s biggest importers of wheat, said on Saturday that the crisis in Ukraine will not impact its imports, an unnamed source from the state grains importer was quoted as saying by Ennahar TV on Saturday. Algeria does not rely on one supplier but several as its market is …
Ukraine crisis will not impact Algeria’s wheat imports -official tells Ennahar TV Read More »
By Chris Mfula and Rachel Savage LUSAKA (Reuters) – The International Monetary Fund (IMF) has yet to finish a health check of Zambia’s debt that is necessary to strike a restructuring deal with creditors after more data was requested from the government, the treasury secretary said. Zambia became the first pandemic-era sovereign default in late …
Zambia’s IMF debt health check not ready yet, says treasury secretary Read More »
KINSHASA (Reuters) – A company controlled by Israeli billionaire Dan Gertler will give control of valuable mining and oil assets back to the Democratic Republic of Congo, the government said on Friday. Anti-corruption group Congo is Not for Sale (CNPAV) has previously warned the mineral-rich country would lose out on $1.76 billion in potential royalty …
Congo recovers mining and oil assets from Israeli billionaire Read More »
JOHANNESBURG (Reuters) -The South African rand advanced on Friday, supported by higher gold prices, and stocks also rose. At 1430 GMT, the rand traded at 15.1750 against the dollar, 1.08% stronger than its close on Thursday, when it slumped in risk-off trade linked to Russia’s assault on Ukraine. Gold – a key South African export …
South African rand gains on higher gold prices and stocks rise Read More »
(Reuters) – Nigeria’s Seplat Energy said on Friday its offshore unit had entered a sale and purchase agreement to buy the entire share capital of Exxon Mobil’s Nigerian offshore shallow water business for $1.28 billion. The deal involves a further contingent consideration of up to $300 million based on the oil price and the average …
Nigeria’s Seplat Energy buys Exxon Mobil’s MPNU for $1.3 billion Read More »
