By Joe Bavier JOHANNESBURG (Reuters) -South Africa is close to reaching a five-year target for new investment, President Cyril Ramaphosa said on Thursday as he sought to drum up further backing for the pandemic hobbled economy. In 2018 soon after coming to power, Ramaphosa set a goal to raise 1.4 trillion rand – or around …
S.Africa nears 5-year investment goal -president Read More »
By Cooper Inveen and Christian Akorlie ACCRA (Reuters) -Ghana’s finance minister on Thursday announced sweeping spending cuts to reduce the deficit, contain rising inflation and slow the cedi’s slide, with the country facing a looming debt crisis. The West African gold, oil and cocoa producer has seen consumer inflation rise to over 15% and the …
Ghana announces sweeping spending cuts to tackle deficit Read More »
JOHANNESBURG (Reuters) – The International Monetary Fund on Thursday welcomed Zimbabwe’s steps towards economic recovery and engaging with its creditors, but said more needs to be done following mixed implementation of its past advice. The fund said in November that it was unable to provide financial support to the southern African country, which has suffered …
IMF welcomes some positive changes in Zimbabwe, urges more Read More »
JOHANNESBURG (Reuters) -South Africa’s rand strengthened on Thursday to extend a five-month high after the central bank raised the repo rate by 25 basis points to 4.25%, with the Monetary Policy Committee (MPC) split over whether to increase rates further. At 1407 GMT, the rand was 1.09% firmer against the dollar at 14.5924, having strengthened …
South Africa’s rand extends five-month high after cbank raises rates Read More »
JOHANNESBURG (Reuters) -South Africa raised its main lending rate by 25 basis points to 4.25% on Thursday as expected, citing inflation risks linked to the war in Ukraine. The decision by the South African Reserve Bank (SARB) was in line with a Reuters poll, but the five-member Monetary Policy Committee was split 3-2, with two …
S.Africa raises rates citing inflation risks linked to Ukraine war Read More »
By Duncan Miriri NAIROBI (Reuters) – A drawn-out conflict between Russia and Ukraine could further drive up oil prices and end African airlines’ recovery from the pandemic slump, the head of the industry’s association said on Thursday. Unless the conflict is resolved as soon as possible, it will harm economies, increase ticket prices and curb …
Ukraine crisis seen as threat to African airlines’ recovery Read More »
By Tim Cocks JOHANNESBURG (Reuters) – Nkateko Muyimane and six fellow African students hid in a subway while Russian shells pounded Kharkiv, before fleeing on a train to Budapest they very nearly failed to board. Now their main concern is how to salvage the degrees they sacrificed so much to start. South African Muyimane, 24, …
African students wonder what next after Ukraine war upends education Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) -Ethiopian Airlines on Thursday named Chief Operating Officer Mesfin Tasew as the successor to CEO Tewolde Gebremariam who is retiring early for health reasons. The state-owned carrier’s board Chairman Girma Wake, told a news conference that Mesfin had been chosen to lead the group after serving in his present …
Ethiopian Airlines promotes operations chief Mesfin to CEO role Read More »
CAIRO (Reuters) – Egypt has asked for the International Monetary Fund’s support to implement a comprehensive economic programme, the IMF said on Wednesday. Continued exchange rate flexibility would be essential to absorb external shocks, it said in a statement. The IMF is working closely with Egyptian authorities to prepare for discussions with a view to …
Egypt requests IMF support as economy buffeted by Ukraine spillover Read More »
ABUJA (Reuters) – South African pay-TV company MultiChoice has increased prices for monthly subscriptions in Nigeria by at least 14%, after this month’s settlement with Nigerian authorities following a $4.4 billion tax dispute. The hike, effective from April 1, was due to the rising cost of business operations and inflationary pressures, the local unit of …
MultiChoice hikes Nigerian pay-TV rates after tax row Read More »
