Reuters Africa Business

Power restored in Kenya after nationwide blackout -Kenya Power

11 Jan 2022

By George Obulutsa NAIROBI (Reuters) -Power supply has been restored in all parts of Kenya, which earlier experienced a nationwide outage after a high voltage transmission line connecting the capital broke, state-controlled utility Kenya Power said on Tuesday. Kenya Power reported a blackout occurred at 0745 GMT, after towers supporting a high voltage power line …

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Egypt reopens two Mediterranean ports after weather improves

11 Jan 2022

CAIRO (Reuters) – Egypt on Tuesday reopened the two Mediterranean ports of Alexandria and Dekheila, which were shut on Monday, after weather conditions improved, the Alexandria Port Authority said in a statement. The ports are among the largest in Egypt and each can handle up to 1 million 20ft-equivalent units (TEUs). (Reporting by Ahmed Salem; …

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Nigeria shuts 504MW power plant after Total’s gas line vandalised

11 Jan 2022

ABUJA (Reuters) – Nigeria has shut a 504 megawatt gas power plant in the Niger Delta after the TotalEnergies declared force majeure on a gas line that was vandalised, Niger Delta Power Holding Company Limited (NDPCH) said on Monday. The electricity firm said it was notified by TotalEnergies EP Nigeria Limited that one of its …

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Ethiopian Airlines is profitable as cargo demand booms, CEO says

11 Jan 2022

DUBAI (Reuters) – Ethiopian Airlines is profitable and cash positive, underpinned by booming demand for air cargo, its chief executive said on Tuesday. The air freight market has been a rare bright spot for airlines over the past two years, with rates rising due to an online shopping surge and pandemic-linked supply chain disruptions driving …

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Barrick Gold says Mali mines unaffected by ECOWAS sanctions

10 Jan 2022

JOHANNESBURG (Reuters) -Barrick Gold, which owns Mali’s biggest gold mine complex Loulo-Gounkoto, said on Monday its mines in the country have “thus far not been affected” by sanctions imposed by the Economic Community of West African States. The 15-state regional bloc imposed tough economic sanctions, and said it would also shut borders and sever diplomatic …

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S.African rand weakens on bets U.S. data will bolster Fed hike case

10 Jan 2022

JOHANNESBURG (Reuters) -The South African rand weakened on Monday as the dollar strengthened on bets that U.S. inflation data later this week will bolster the argument for the Federal Reserve to raise interest rates. At 1500 GMT, the rand traded at 15.7200 against the dollar, down around 1% on its previous close. U.S. inflation figures …

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Nigerian stocks climb to almost 4-year high

10 Jan 2022

ABUJA (Reuters) – Nigerian stocks climbed 1.08% to almost a four-year high on Monday, extending gains achieved in 2021, Refinitiv Eikon data showed. The main share index is up 2.66% after six days of trading to 44,326 points. It climbed 6.07% last year. (Reporting by Chijioke Ohuocha; Editing by Gareth Jones)

Kenya’s central bank to hold next rate-setting meeting on Jan 26

10 Jan 2022

NAIROBI (Reuters) – The Kenyan central bank’s Monetary Policy Committee will hold its next rate-setting meeting on Jan. 26, the bank said on Monday. At its last meeting in November, the committee held the benchmark lending rate at 7.0%, citing “anchored” price increases and early indications of the economy benefiting from an accommodative stance. (Reporting …

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