JOHANNESBURG (Reuters) – South Africa’s manufacturing output slumped 8.9% year on year in October, after expanding by a revised 0.7% in September, the statistics agency said on Thursday. Factory production was down 5.9% month on month in October but up 0.9% in the three months to the end of October compared with the previous three …
South African manufacturing output slumps 8.9% y/y in October Read More »
LAGOS (Reuters) – Dangote Cement, Nigeria’s biggest listed firm, fell 10% to a nine-week low of 252 naira on Thursday dragging down the broader stock index, Refinitiv Eikon data showed. The index shed 2.14% to a six-week low at 41,527.79 points by 0940 GMT. (Reporting by Chijioke Ohuocha; editing by Jason Neely)
JOHANNESBURG (Reuters) – South Africa’s struggling state-owned power utility Eskom has applied for a 20.5% electricity tariff increase for the financial year that starts on April 1 2022, it said on Wednesday. Energy regulator Nersa rarely grants Eskom the full amount it applies for, but the size of the latest request means electricity users in …
South Africa’s Eskom asks for 20.5% power tariff hike next year Read More »
By Frank Phiri and Emma Rumney BLANTYRE (Reuters) – When Joyce Rejista ran out of money at a music festival she found herself in a familiar fix for villagers across Malawi, needing cash in places where banks and ATMs are scarce. The obvious answer was a mobile money service run by telecom companies Airtel or …
Africa’s banks take on telcos in battle for upwardly mobile money Read More »
(Reuters) – South Africa’s top sugar producer Tongaat Hulett Ltd swung to a first-half loss and held back dividend on Thursday, saying the civil unrest in the country had a 158 million rand ($10.06 million) impact on its profit. The company reported headline loss per share of 188 cents for the six months to September, …
Sugar producer Tongaat swings to loss, flags S.African civil unrest hit Read More »
NAIROBI (Reuters) – Kenya’s central bank said on Thursday the remainder of Imperial Bank will be liquidated following an external audit that found it was the only feasible choice given the bank’s weak financial position. The Central Bank of Kenya (CBK) ordered the privately owned bank to be put into receivership in October 2015 after …
Kenya’s central bank says rest of Imperial Bank to be liquidated Read More »
JOHANNESBURG (Reuters) -The South African rand extended this week’s gains on Wednesday, as signs that the Omicron coronavirus variant identified locally and in Hong Kong is causing mainly mild infections supported risk appetite. At 1445 GMT, the rand traded at 15.7950 against the dollar, 0.35% stronger than its previous close. Financial markets have been highly …
South African rand stronger on early Omicron signs, stocks slide Read More »
JOHANNESBURG (Reuters) – South African business confidence fell in November compared to the previous month as both exports and imports dipped, data showed on Wednesday. The South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) declined to 92.8 in November from 94.9 in October. “The foreign trade account was the main …
South African business confidence falls in November Read More »
NAIROBI (Reuters) – Kenya’s finance ministry has stopped the planned issuance of a 150 billion shilling ($1.33 billion) bond by the country’s roads board to settle pending bills for contractors and to complete projects, the Business Daily newspaper reported on Wednesday. The issue was stopped to prevent the country’s fiscal position from slipping outside of …
Kenya’s Treasury slams brakes on 150 billion shillings roads bond -report Read More »
By Marwa Rashad LONDON (Reuters) -Friends of the Earth said a legal challenge to the British government which seeks to block a $1.15 billion financing for a Liquefied Natural Gas (LNG) project in Mozambique will be heard in the High Court on Tuesday. UK Export Finance (UKEF) has committed to provide up to $1.15 billion …
Friends of the Earth sues Britain over Mozambique LNG project Read More »
