Reuters Africa Business

Kenya GDP growth rebounds in third quarter of 2021 – finance minister

31 Dec 2021

By George Obulutsa NAIROBI (Reuters) -Kenya’s economy rebounded in the third quarter of the year following the easing of measures aimed at curbing COVID-19’s spread, the finance minister and the statistics office said on Friday. The economy grew 9.9% year-on-year during the quarter, compared with a contraction of 2.1% in the same period in 2020, …

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Kenya’s inflation at 5.73% year-on-year in December

31 Dec 2021

NAIROBI (Reuters) – Kenya’s inflation eased to 5.73% year-on-year in December from 5.8% a month earlier, the statistics office said on Friday. On a monthly basis, inflation was 0.91% from 0.45% in November, the Kenya National Bureau of Statistics said in a statement. (Reporting by George Obulutsa; Editing by Alison Williams)

Shell lifts force majeure on Forcados

31 Dec 2021

LONDON (Reuters) – Royal Dutch Shell’s Nigerian venture lifted the force majeure on Nigerian Forcados crude exports on Friday, while trading activiry was quiet due to the holidays. A spokesperson for Shell’s Nigerian venture SPDC said: “The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC Joint Venture, has announced lifting the …

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South Africa’s private credit up 2.46% y/y in November

31 Dec 2021

JOHANNESBURG (Reuters) – Private sector credit in South Africa rose 2.46% year-on-year in November, after increasing 1.29% in October, central bank data showed on Friday. The broadly defined M3 measure of money supply rose 6.36% in November, after expanding 3.19% in the previous month. (Reporting by Olivia Kumwenda-Mtambo; Editing by Sam Holmes)

South Africa’s rand flat in thin trade, stocks rise

30 Dec 2021

JOHANNESBURG (Reuters) -South Africa’s rand was flat in thin trade on Thursday as the currency struggled to make meaningful gains against a stronger dollar, while stocks edged higher. By 1505 GMT, the rand traded at 15.9450 against the dollar, unchanged from previous close. The dollar ticked up against major rival currencies as investors remained cautiously …

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Impoverished Ethiopia seeks extra $2.5 billion to rebuild from war

30 Dec 2021

ADDIS ABABA (Reuters) -Ethiopia wants to pass a supplementary budget worth 122 billion birr ($2.5 billion) to help finance programmes to rebuild areas destroyed by war and provide humanitarian aid, the finance ministry said on Thursday. The budget is much larger than previously reported in the heavily indebted country. The government-affiliated media outlet Fana said …

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Ugandan shilling a notch weaker due to increased dollar demand

30 Dec 2021

KAMPALA (Reuters) – The Ugandan shilling weakened slightly on Thursday, undercut by a rebound in demand for dollars from commercial banks and some merchandise importers, traders said. At 0926 GMT, commercial banks quoted the shilling at 3,540/3,550, compared to Wednesday’s close of 3,530/3,540. UGX Spot Rate………………. Ugandan Shilling Money Guide…. Calculated Cross Rates………. Deposits………………… Deposits …

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