KAMPALA (Reuters) – Uganda’s sole power distributor Umeme Limited said on Monday its pretax profits jumped 34% last year as a loosening of COVID-19 restrictions fuelled a surge in demand for energy. Umeme said its pre-tax profit rose to 642.2 billion shillings ($179 million) in the twelve months to end-December, compared with 478.9 billion shillings …
Uganda power distributor Umeme 2021 pretax profit jumps 34% Read More »
ABIDJAN (Reuters) – Cocoa arrivals at ports in top grower Ivory Coast had reached 1.676 million tonnes by March 27 since the start of the season on Oct. 1, up 1.8% from the same period last season, exporters estimated on Monday. About 11,000 tonnes of beans were delivered to Abidjan port and 14,000 tonnes to …
Ivory Coast 2021/22 cocoa arrivals seen at 1.676 million T by March 27 Read More »
JOHANNESBURG (Reuters) – Telkom said on Monday it had enough room on its balance sheet to pay 2.1 billion rand ($143.73 million) for bands of radio frequency spectrum it bought in a recent auction, despite negative free cash flow that tracked below expectations. The South African firm, 40% owned by the government, and fellow telecom …
S.Africa’s Telkom says it can fund $144 million cost for spectrum Read More »
DOHA (Reuters) – Lebanese Prime Minister Najib Mikati told the Algerian foreign minister in a meeting on Sunday that he hoped Algiers would consider exempting Lebanon from an Algerian sugar export ban. The news was published by Mikati’s office on Twitter, after Algeria banned on March 13 the export of foodstuffs that it imports including …
Lebanon asks to be exempt from Algeria’s sugar export ban Read More »
By Saliou Samb CONAKRY (Reuters) -Guinea’s ruling junta has reached an agreement with Rio Tinto and a Chinese-backed consortium to resume activities at the huge Simandou iron ore deposit, the mines minister said, after resolving infrastructure disputes. Simandou holds more 4 billion tonnes of ore according to Guinea’s government, making it the largest known deposit …
Guinea reaches deal with miners to resume Simandou iron ore development Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened from a five-month high against the dollar on Friday, although it still recorded a weekly gain, after the central bank raised the repo rate, citing inflation risks linked to the Ukraine crisis. At 1500 GMT, the rand traded at 14.5755 against the dollar, 0.46% weaker than the previous close, …
South Africa’s rand slips from 5-month high after lending rate hike Read More »
By Siphiwe Sibeko JOHANNESBURG (Reuters) – Hundreds of striking Sibanye-Stillwater workers blocked a major highway outside Johannesburg on Friday to press their demands for higher wages, and union leaders said they would not back down despite the gold miner’s no work, no pay policy. The National Union of Mineworkers (NUM) and Association of Mineworkers and …
Defiant South African unions stage protest against Sibanye Read More »
By Chris Mfula LUSAKA (Reuters) -Zambia’s creditors are in the next few weeks expected to form a committee to examine the sustainability of the nation’s debt and determine the amount of relief they are willing to offer, Finance Minister Situmbeko Musokotwane said on Friday. “We anticipate that the official creditor committee will be formed within …
Zambia says official creditor committee to be formed within weeks Read More »
NAIROBI (Reuters) – Kenya’s shilling inched down on Friday to a fresh all time low against the dollar, as energy firms and general importers sought hard currencies for their transactions. At 0819 GMT, commercial banks quoted the shilling at 114.70/90 against the dollar, compared with Thursday’s closing rate of 114.60/80. The new record low follows …
HARARE (Reuters) – Global mining giant Anglo American Plc on Friday announced the sale of its remaining shareholding in Thungela Resources, completing its exit from the South African coal business. Under pressure from investors to exit coal businesses worldwide, the owner of gold, platinum and diamond mining companies, Anglo American hived off its entire stake …
Anglo American completes exit from S.African coal miner Thungela Read More »
