Reuters Africa Business

By Joe Bavier and Rachel Savage JOHANNESBURG/LONDON (Reuters) – Wealthy nations must improve their floundering flagship debt relief initiative or face a spate of debt crises in the developing world, experts and campaigners say as a meeting of finance chiefs of G20 major economies opened on Thursday. As the pandemic battered global economies, the Group …

G20 must push relief to avoid debt crises – experts, campaigners Read More »

NEW YORK (Reuters) – Strong Harmattan conditions have been registered over the hinterlands of Ivory Coast and Ghana, the world’s two largest producers of cocoa, and also over southwest Nigeria, damaging the tree canopy, Climate42 said in a report on Wednesday. Harmattan is a climatic occurrence characterized by very dry and strong winds blown from …

Strong Harmattan conditions seen in West Africa cocoa area – report Read More »

By Promit Mukherjee JOHANNESBURG (Reuters) -South African miner Gold Fields Ltd reported a 20% rise in full-year profit on Thursday, boosted by higher production and firmer prices, but flagged growing cost pressures. The gold miner’s headline earnings per share (HEPS) – the main measure of corporate profit in South Africa – rose to 100 U.S. …

South Africa’s Gold Fields profit up 20%, flags rising costs Read More »

JOHANNESBURG (Reuters) -The South African rand weakened in afternoon trade on Wednesday, as data showed consumer inflation slowed in January, lowering expectations of aggressive domestic interest rates hikes. At 1425 GMT the rand traded at 15.1500 against the dollar, 0.3% weaker than Tuesday’s close. South Africa’s January inflation fell to 5.7% year on year in …

South African rand falls as inflation slows, stocks rise Read More »

JOHANNESBURG (Reuters) – Tiger Brands on Wednesday reported a 1% fall in first-quarter revenue and said it plans more price increases in the second quarter to help ease pressure on margins at South Africa’s largest food producer. Consumer goods companies are grappling with a surge in commodities, energy, transport and labour costs. Tiger Brands is …

South Africa’s Tiger Brands plans more price increases as margins struggle Read More »

(Adds TV coverage) By Patrick Werr NORTH OF SUEZ, Egypt (Reuters) – Egypt is working to improve the Suez Canal by making an additional 10 kilometres accessible to two-way traffic, while widening and deepening another 30 kilometres, the chairman of the authority managing the waterway said on Tuesday. Suez Canal Authority Chairman Osama Rabie, giving …

Egypt lengthening two-way portion of Suez Canal by 10 kilometres Read More »

JOHANNESBURG (Reuters) – South Africa’s headline consumer inflation fell to 5.7% year on year in January from 5.9% in December, data from Statistics South Africa showed on Wednesday. On a month-on-month basis, the consumer price index was at 0.2% in January from 0.6% the previous month. Core inflation, which excludes prices of food, non-alcoholic beverages, …

South Africa consumer inflation falls to 5.7% y/y in January Read More »