By Camillus Eboh ABUJA (Reuters) – Nigeria will allow companies that owe taxes in U.S. dollars to pay them in naira this month at the prevailing exchange rate, the Federal Inland Revenue Service (FIRS) said, acknowledging a shortage of foreign currency in the country. The FIRS granted a one-month concession in March, it said, citing …
Nigeria to allow some tax payments in naira because of dollar shortage Read More »
JOHANNESBURG (Reuters) – South Africa’s Telkom is postponing the separate listing of its masts and tower business due to recent global events, the country’s third-biggest telecom operator said on Wednesday. Telkom, which spun off its telecom towers, masts and some related real estate into a separate unit, has been exploring options to unlock value in …
South Africa’s Telkom postpones towers unit listing due to global events Read More »
JOHANNESBURG (Reuters) – Shares in South Africa’s Nedbank rose 3.3% on Wednesday after saying it would meet a 2023 profit target a year ahead of schedule and reporting a 114% rise in 2021 earnings. Like all large lenders in the country, Nedbank is enjoying a rebound after hefty provisions for bad debts sparked by COVID-19 …
S.Africa’s Nedbank expects to meet 2023 profit target ahead of schedule Read More »
By Promit Mukherjee and Nelson Banya JOHANNESBURG (Reuters) – South Africa’s two biggest gold miners Sibanye Stillwater Ltd and Harmony Gold Ltd operate many of their mines in the Witwatersrand basin near Johannesburg. They pay the same tariffs for electricity, which, after labour, is the standout expense at 20% of the costs at both companies. …
Explainer: Why South Africa’s two biggest gold miners differ on wages Read More »
By Olivia Kumwenda-Mtambo PRETORIA (Reuters) – South Africa’s economy expanded in the final quarter of last year driven by a recovery in agriculture and manufacturing, data showed on Tuesday, a boost for President Cyril Ramaphosa who is battling to ignite growth. The economy has struggled to gain traction despite promises of sweeping reforms made by …
Farming boosts South Africa’s fourth-quarter GDP growth Read More »
By Nelson Banya (Reuters) – South Africa will feel the impact of the Russia-Ukraine conflict on food prices but is also primed to benefit from it through maize exports, experts said on Tuesday. Commodity prices, including wheat and corn, have surged since Russia began its invasion of Ukraine on Feb. 24. Russia and Ukraine account …
South Africa sees food inflation, opportunity from Russia-Ukraine war Read More »
JOHANNESBURG (Reuters) – S.African state-owned power utility Eskom said on Tuesday it will continue power cuts in the country until 5 a.m. (0300 GMT) on Saturday as many of the power plant units broke down on Monday and are under repair. The power cuts, called stage 2 load shedding in South Africa, started from 5 …
S.African power utility Eskom to continue power cuts until Saturday morning Read More »
(Reuters) -South Africa’s Sibanye Stillwater Ltd has received a notice of strike at its local gold mining operations from two unions starting on March 9, the company said on Tuesday. The National Union of Mineworkers (NUM) and Association of Mineworkers and Construction Union (AMCU) voted for a strike last week after the Solidarity union split …
South Africa’s Sibanye Stillwater receives strike notice from two unions Read More »
TUNIS (Reuters) -A senior official from the biggest party in Tunisia’s suspended parliament was released from more than two months of detention early on Tuesday, his party said. Noureddine Bhairi – vice president of the moderate Islamist Ennahda party which has accused President Kais Saied of mounting a coup by dissolving parliament and seizing executive …
Senior official from Tunisia’s Ennahda party released from house arrest Read More »
(Reuters) – Moderna Inc said on Monday it would set up a manufacturing facility in Kenya, its first in Africa, to produce messenger RNA (mRNA) vaccines, including COVID-19 shots. Moderna said it expects to invest about $500 million in the Kenyan facility and supply as many as 500 million doses of mRNA vaccines to the …
Moderna to build mRNA vaccine manufacturing facility in Kenya Read More »
