Reuters Africa Business

Junior miners Strandline, Black Rock, OreCorp sign agreements with Tanzania

13 Dec 2021

By Nuzulack Dausen DAR ES SALAAM (Reuters) -Australia’s Strandline Resources, Black Rock Mining and Orecorp on Monday signed framework agreements with the government of Tanzania, a step towards the development of their mineral sands, graphite, and gold projects. Details of the agreements were not immediately available. Tanzania’s new government, under President Samia Suluhu Hassan, has …

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Ivory Coast’s cashew processors driven into bankruptcy by Asian competition

13 Dec 2021

By Ange Aboa ABIDJAN (Reuters) – Ivory Coast cashew processors are being driven towards bankruptcy by Asian exporters who buy up all the local supply, thwarting a government plan to invigorate the sector, company sources said. Five Ivorian processing companies have gone bankrupt and closed their factories in the last two years, while four others …

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Nigeria’s state oil firm posts $346 million trading surplus in June

13 Dec 2021

ABUJA (Reuters) – Nigeria’s state oil company recorded a 141.96 billion naira ($346 million) trading surplus in June after recovering from a 37.46 billion naira deficit the previous month, the company said on Sunday. Presenting its latest monthly report, the Nigerian National Petroleum Company (NNPC) said expenditure for the same month fell 29.32% to 721.93 …

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IMF sees Morocco’s economic growth at 6.3% in 2021, about 3% in 2022

12 Dec 2021

RABAT (Reuters) – Morocco’s economy is expected to grow 6.3% in 2021, one of the highest rates in the Middle East and North Africa region, before slowing to around 3% next year, the International Monetary Fund said on Friday. This growth is due to a “successful (COVID-19) vaccination campaign” as well as “continued fiscal and …

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IMF sees Morocco’s economic growth at 6.3% in 2021, about 3% in 2022

11 Dec 2021

RABAT (Reuters) – Morocco’s economy is expected to grow 6.3% in 2021, one of the highest rates in the Middle East and North Africa region, before slowing to around 3% next year, the International Monetary Fund said on Friday. This growth is due to a “successful (COVID-19) vaccination campaign” as well as “continued fiscal and …

IMF sees Morocco’s economic growth at 6.3% in 2021, about 3% in 2022 Read More »

IMF board approves $570 million credit facility for Chad

11 Dec 2021

(Reuters) – The International Monetary Fund approved a three-year extended credit facility worth $570 million for Chad, the Fund said on Friday, capping a process that required Chad to restructure all its official and commercial debt. The approval allows the IMF to immediately disburse more than $78 million, the lender said in a statement. The …

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South African rand firms after in-line U.S. inflation data

10 Dec 2021

JOHANNESBURG (Reuters) -The South African rand firmed on Friday after U.S. inflation data came in line with expectations, taking off worries from investors’ minds that the Federal Reserve could go for an aggressive taper plan. The rand traded at 15.945 against the dollar at 1510 GMT, 0.11% stronger than its previous close, but remained in …

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Chevron, Equatorial Guinea sign production-sharing agreement for offshore block

10 Dec 2021

(Corrects date to Thursday, not Friday) (Reuters) – Oil major Chevron and the government of Equatorial Guinea have signed a production-sharing agreement for an offshore block in the in the country’s Douala Basin, oil minister Gabriel Mbaga Obiang Lima said on Thursday. (Reporting by Cooper Inveen; Editing by Bate Felix)

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