Reuters Africa Business

KHARTOUM (Reuters) – Sudanese banks and currency exchanges will set their own local currency exchange rate without central bank intervention, the regulator said in a statement on Monday, without disclosing when the decision would be implemented. Sudanese authorities decided on Sunday to unify the exchange rate of the Sudanese pound, the acting minister of information …

Sudanese banks to set own exchange rate without cenbank intervention -cenbank Read More »

TUNIS (Reuters) – The African Development Bank has lent Tunisia $112 million to finance a road construction project, the economy ministry said on Monday. It added that the project aims to develop infrastructure and intensify economic activity between the internal and coastal regions of the North Africa country. (Reporting By Tarek Amara; Editing by Hugh …

AfDB lends Tunisia $112 million to finance road construction Read More »

JOHANNESBURG (Reuters) – South Africa’s rand dipped in early trade on Tuesday as concerns over the Russia-Ukraine conflict lingered, while traders also awaited the release of domestic economic growth numbers later in the day. At 0637 GMT, the rand traded at 15.3700 against the dollar, 0.15% weaker than its previous close. Russia-Ukraine peace talks made …

South Africa’s rand weaker ahead of GDP data Read More »

WASHINGTON (Reuters) – The International Monetary Fund said on Monday its Executive Board approved a $67.5 million disbursement to Madagascar after completing an initial review of the island country’s economic program under a $312 million loan granted last year. The IMF said the payment brings disbursements under Madagascar’s 40-month Extended Credit Facility program to about …

IMF board approves $67.5 million Madagascar disbursement after loan program review Read More »

KAMPALA (Reuters) – Airtel Uganda, the country’s second largest telecoms company and a unit of India’s Bharti Airtel, plans to list a part of its equity by the end of this year, a top company official told local NTV Uganda late Monday. The company renewed its operating licence in 2020, with one of the conditions …

Telecoms major Airtel Uganda plans IPO by 2022-end – MD to NTV Uganda Read More »

JOHANNESBURG (Reuters) – South Africa’s largest grocery retailer Shoprite Holdings Ltd reported on Tuesday a rise of 25.5% in half-year earnings, and said it expects selling price inflation to move higher during the second half of its financial year. Consumer goods firms worldwide are battling a surge in costs of commodities, energy, transport and labour. …

South Africa’s Shoprite weathers unrest to pump up first-half profit Read More »

NAIROBI (Reuters) – The Kenyan shilling weakened on Monday due to a pick-up in dollar demand from commodity traders and companies in the energy sector, traders said. At 0905 GMT, commercial banks quoted the shilling at 113.95/114.15 per dollar, compared with 113.85/114.05 at Friday’s close. ………………………Shilling spot rates …………………Shilling forward rates …………………..Cross rates …………………………….Local contributors …

Kenyan shilling weakens due to increased energy sector dollar demand Read More »