ABUJA (Reuters) – Shares of Airtel Africa hit an all-time high on Wednesday, soaring the maximum 10% permitted and lifting Nigeria’s main stock index. The main share index climbed 1.73% to 45,430.14 points, a level last seen in January 2018. Airtel is Nigeria’s third-biggest listed firm. (Reporting by Chijioke Ohuocha; Editing by Kirsten Donovan)
JOHANNESBURG (Reuters) – South Africa’s retail sales grew 3.3% year on year in November after rising by a revised 1.9% in October, Statistics South Africa figures showed on Wednesday. On a month-on-month basis, sales increased 1.9%. Sales rose 2.5% in the three months to the end of November compared with the same period last year, …
South Africa retail sales grow 3.3% y/y in November Read More »
JOHANNESBURG (Reuters) -South Africa’s consumer inflation quickened faster than expected in December to 5.9% year-on-year from 5.5% in November, data showed on Wednesday, adding to arguments for the central bank to raise interest rates next week. On a month-on-month basis, the December consumer price index was at 0.6% from 0.5% in November. Analysts polled by …
South Africa inflation faster than expected at 5.9% y/y in December Read More »
JOHANNESBURG (Reuters) – South Africa’s Capitec said on Wednesday it will offer shares worth up to 1 billion rand ($64.55 million) to employees at a discounted rate in a Black economic empowerment (BEE) transaction that will lower its earnings per share. BEE is a government initiative to reverse ongoing economic inequalities almost three decades after …
S.Africa’s Capitec flags Black empowerment deal that will cut profits Read More »
NAIROBI (Reuters) – Kenya tourism earnings are forecast to climb to 172.89 billion shillings ($1.52 billion) in 2022 from 146.51 billion shillings last year, Tourism Minister Najib Balala said on Wednesday. ($1 = 113.4000 Kenyan shillings) (Reporting by George Obulutsa; Editing by Ayenat Mersie)
JOHANNESBURG (Reuters) – Trafigura has agreed a $600 million financing and marketing deal with Shalina Resources’ Democratic Republic of Congo subsidiary Chemaf, the global commodities trader said on Wednesday. The funds will help Chemaf complete the mechanisation of its Mutoshi cobalt and copper mine and solvent extraction- electrowinning (SX-EW) processing plant in Kolwezi, and progress …
Trafigura signs $600 million financing deal with Congo cobalt miner Chemaf Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s Reserve Bank (SARB) will raise interest rates to 4.00% on Jan. 27 as it continues its hiking cycle amid a pick up in consumer price inflation, a Reuters poll found on Wednesday. Eighteen of 23 economists polled from Jan. 12-18 said the central bank would add 25 …
S.African Reserve Bank to hike rates by 25 bps to 4.00% on Jan. 27 Read More »
By Supantha Mukherjee and Promit Mukherjee STOCKHOLM/JOHANNESBURG (Reuters) – Oracle opened a data centre in South Africa on Wednesday to provide local cloud services across Africa for the first time, joining the likes of Microsoft and Amazon in setting up facilities in the southernmost country on the continent. Africa will be the U.S. company’s 37th …
Oracle opens data centre to provide cloud services across Africa Read More »
JOHANNESBURG (Reuters) -The South African rand slipped on Tuesday as rising U.S. Treasury yields lifted the dollar. At 1425 GMT, the rand traded at 15.4300 against the dollar, about 0.3% weaker than its previous close. The dollar was up 0.3% against a basket of currencies as two-year Treasury yields — which track short-term interest rate …
South African rand slips as U.S. yields lift dollar Read More »
By Duncan Miriri NAIROBI (Reuters) – Britain is partnering with Kenya to build a new rail hub in the capital Nairobi, and its development arm CDC Group will invest $1 billion in various sectors over the next five years, officials said on Tuesday. Britain, the former colonial power, has increased its engagement with Nairobi in …
Britain steps up Kenya investments with railway hub, eyes $1 billion deals Read More »
