Reuters Africa Business

By MacDonald Dzirutwe and Estelle Shirbon ABUJA (Reuters) -The OPEC chief and ministers from major African oil producing countries on Monday defended investments in fossil fuels, saying Africa’s development needs were being overlooked in the global drive towards decarbonisation. Africa accounts for less than 3% of global carbon emissions while some 600 million Africans have …

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By Nelson Banya (Reuters) – South African gold producer Harmony Gold expects a near-term gold price boost from the Russia-Ukraine crisis, chief executive officer Peter Steenkamp told Reuters on Monday, after the company reported a 65% decline in half-year profit. Gold has risen by about 6% so far in February in the build-up to Russia’s …

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NAIROBI (Reuters) – Kenya’s year-on-year inflation slid to 5.07% in February from 5.39% a month earlier, the statistics office said on Monday. On a monthly basis, inflation was 0.40% from 0.31% in January, the Kenya National Bureau of Statistics said in a statement. (Reporting by George Obulutsa; Editing by Duncan Miriri)

JOHANNESBURG (Reuters) – Private sector credit in South Africa increased by 3.12% year-on-year in January after rising by 2.58% in December, central bank data showed on Monday. The broadly defined M3 measure of money supply rose by 5.65% in January after expanding by 5.71% in the previous month. (Reporting by Olivia Kumwenda-Mtambo; Editing by Tom …

South Africa’s private credit up 3.12% y/y in January Read More »

CAIRO (Reuters) – Egypt, often the world’s top wheat importer, is working on a plan to buy wheat from other regions rather than Russia and Ukraine, the state news agency reported, citing Cabinet spokesman Nader Saad. “There are 14 approved countries Egypt could import wheat from, some of which are outside Europe,” Saad told a …

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ALGIERS (Reuters) – Algeria, one of the world’s biggest importers of wheat, said on Saturday that the crisis in Ukraine will not impact its imports, an unnamed source from the state grains importer was quoted as saying by Ennahar TV on Saturday. Algeria does not rely on one supplier but several as its market is …

Ukraine crisis will not impact Algeria’s wheat imports -official tells Ennahar TV Read More »