Reuters Africa Business

JOHANNESBURG (Reuters) – South African miner Sibanye-Stillwater’s workers will vote next week on a strike at its gold operations over an unresolved wage dispute, union officials said on Thursday. Leaders of the Association of Mineworkers and Construction Union (AMCU), National Union of Mineworkers (NUM), Solidarity and UASA, which are negotiating as a united coalition for …

S.African labour unions set March 1 date for Sibanye strike vote Read More »

JOHANNESBURG (Reuters) – A Moody’s senior credit officer said on Thursday that South Africa’s government still faced spending pressures, despite significant revenue outperformance in the 2022 budget that supported fiscal consolidation efforts. Aurelien Mali, vice president and senior credit officer at Moody’s, cited financial support to state companies, negotiations over the public sector wage bill …

Moody’s says S.Africa spending pressures remain despite revenue boost in budget Read More »

WINDHOEK (Reuters) – Namibia’s Finance Minister Iipumbu Shiimi said on Thursday the country’s growth rate was projected to accelerate to 3.7% in 2023 led by a pick up in mining, agriculture, fishing and other primary sector of the economy. The country was expected to have grown by 1.2% in 2021, lower than the estimated 1.9% …

Namibia projects economic growth at 3.7% by 2023 – finance minister Read More »

CAIRO (Reuters) – Algerian President Abdelmadjid Tebboune on Thursday said that the country’s investments in hydrocarbons will exceed $39 billion within the next four years, state news agency APS reported. (Reporting by Lilian Wagdy; Editing by David Goodman)

By Camillus Eboh ABUJA (Reuters) – West Africa’s regional bloc said it has launched a 330 kilowatt interconnection line to supply electricity from Nigeria to Niger, Burkina Faso, Benin and Togo at a cost of $568 million. Once the newly-launched project is completed, all 14 member countries of the Economic Community of West African States …

West Africa to jump start power market with $568 million power line Read More »

JOHANNESBURG (Reuters) -South Africa’s energy regulator Nersa said on Thursday that it had granted struggling state power utility Eskom an overall average tariff increase for the 2022/23 financial year of 9.61%, versus the 20.50% increase Eskom had applied for. Nersa rarely allows Eskom the full amount it applies for, with disputes between the two often …

South Africa’s Eskom granted 9.61% tariff rise, less than half sought Read More »

GABORONE (Reuters) – Botswana’s central bank left its main lending rate unchanged at 3.75% in a decision announced on Thursday, saying it believed high inflation was transitory. The bank said it saw inflation, which was running at 10.6% in annual terms in January, starting to decline in the second quarter and falling back within a …

Botswana holds main rate, says high inflation transitory Read More »