CAIRO (Reuters) – Egypt and Qatar have agreed to sign investment deals worth $5 billion, the Egyptian cabinet said in a statement on Tuesday, as the two countries rebuild relations following a regional diplomatic feud. The cabinet gave no details of the investments and partnerships, announced during a visit to Cairo by the Qatari ministers …
Egypt, Qatar sign $5 billion in investment deals – cabinet statement Read More »
PRETORIA (Reuters) -South Africa’s unemployment rate rose to a new record high of 35.3% in the fourth quarter of 2021 from 34.9% in the third quarter due to job losses mainly in manufacturing and construction, the statistics agency said on Tuesday. Statistics South Africa said the number of unemployed totalled 7.921 million people in the …
South Africa’s unemployment rate hits new record high in Q4 2021 Read More »
By Francis Kokoroko and Rachel Savage ACCRA (Reuters) – Everything changed for Ghanaian storekeeper Isaac Siaw when his telecoms provider launched mobile payments for business in 2017. Sales boomed at his 20-year-old store, as customers no longer had to pay cash for household goods that include mosquito repellent, batteries, razors, soap and superglue. But as …
Silver bullet or fool’s gold? Ghana’s e-tax marred by scepticism Read More »
By Helen Reid JOHANNESBURG (Reuters) -Rio Tinto and a Chinese-backed consortium risk losing their mining licences if they fail to meet a tight construction timeline for the Simandou iron ore mine in Guinea, the West African country has said. Guinea’s government has grown increasingly impatient with the mining firms that control the giant Simandou deposit …
Simandou iron ore mine developers risk penalties if timeline missed, Guinea says Read More »
JOHANNESBURG (Reuters) – South Africa recorded foreign direct investment (FDI) inflows of 604.3 billion rand ($41.15 billion) in 2021, a big jump from inflows of 50.4 billion rand in 2020, the central bank said on Tuesday. The South African Reserve Bank said in its Quarterly Bulletin publication that the inflows last year were mainly due …
South Africa FDI inflows jump in 2021, securities outflows soar Read More »
JOHANNESBURG (Reuters) – The International Monetary Fund and Mozambique have reached a staff-level agreement on a $470 million facility, the Fund said on Monday, in what would be the African nation’s first programme since the global lender suspended support six years ago. In 2016, Mozambique unveiled hefty state-backed borrowing it had previously failed to disclose, …
IMF staff agree $470 million programme for Mozambique Read More »
JOHANNESBURG (Reuters) -South Africa’s rand retreated from a five-month high against the dollar on Monday as the greenback strengthened, with China’s re-imposition of a lockdown in Shanghai impacting risk taking. At 1608 GMT, the rand traded at around 14.7006 against the dollar, 1.01% weaker than its close on Friday when it touched 14.4738, the strongest …
S.Africa’s rand pulls back as dollar firms, markets slightly down Read More »
LUSAKA (Reuters) – Zambia, Africa’s second-largest copper producer, said it plans to limit the number of mining licences that a company can hold at a time to curb speculation and promote investment. The ministry of mines last month suspended the issuance of mining licenses and commissioned an audit in response to public complaints about a …
Zambia to cap number of mining licences issued to single firms Read More »
NAIROBI (Reuters) -Kenya’s central bank has barred Ecobank from foreign exchange trading in the East African nation between March 29 and April 4 as part of regulatory action for unsafe trading practices, the regulator said on Monday. Under Governor Patrick Njoroge, who was first appointed in 2015, the central bank has taken a hard line …
Kenya’s central bank temporarily blocks Ecobank from FX trading Read More »
By Nqobile Dludla CAPE TOWN (Reuters) -South Africa’s Tiger Brands is co-investing in plant-based food company Herbivore Earthfoods with private equity firm Secha Capital, one of its directors said on Monday, as the food producer forays into the fast-growing plant protein sector. Demand for plant-based meal replacements has risen in recent years, with much of …
Tiger Brands bets on plant-based food with Herbivore Earthfoods investment Read More »
