TUNIS (Reuters) – Tunisia’s central bank Governor Maroaune Abassi said on Thursday the government hopes to reach an agreement with the International Monetary Fund in the first quarter of next year on a rescue program. He added the agreement with the IMF will be a very good sign that Tunisia will start its reforms and …
Tunisia’s govt seeks deal with IMF in 1st qtr of 2022 -central bank governor Read More »
(Reuters) – Emirates Global Aluminium (EGA) said on Thursday it has signed a three-year deal to supply China’s Bosai Group with “several million tonnes” annually of bauxite from Guinea. Bauxite, the main aluminium ore, is refined into alumina, which is then used to make aluminium metal. China is the world’s biggest aluminium producer and Guinea …
UAE’s EGA inks 3-yr Guinea bauxite supply deal with China’s Bosai Read More »
JOHANNESBURG (Reuters) -The South African rand dropped almost 2% on Thursday as manufacturing output slumped far more sharply than expected in October. At 1532 GMT, the rand traded at 16.0000 against the dollar, around 1.88% weaker than its previous close. Statistics South Africa data showed industrial production fell 8.9% year on year, versus economists’ predictions …
South African rand drops almost 2% as manufacturing slumps Read More »
DAKAR (Reuters) – The International Monetary Fund has approved a three-year loan deal for Niger worth around $276 million, the IMF said on Thursday, warning that security risks threatened the West African nation’s economic outlook. The decision allows the immediate disbursement of $55 million to support basic infrastructure and social spending plans, desperately needed by …
IMF approves $276 million loan deal for poverty-stricken Niger Read More »
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 »
