HARARE (Reuters) – Zimbabwe’s central bank maintained its main policy rate at 60%, citing macroeconomic stability, governor John Mangudya said in a statement on Tuesday. Although year-on-year inflation has come down from more than 800% in July last year, it remains above 50%, which has forced the central bank to keep rates higher. (Reporting by …
Zimbabwe central bank keeps main policy rate at 60% Read More »
PRETORIA (Reuters) – South Africa’s economy contracted 1.5% in the third quarter compared with the previous three months, as some of the worst unrest of the post-apartheid era in July hurt sectors like agriculture, manufacturing and trade. The data released by Statistics South Africa on Tuesday was worse than the forecast of economists polled by …
South African economy contracts 1.5% in Q3, more than expected Read More »
JOHANNESBURG (Reuters) – Thousands of striking workers at companies under Massmart Holdings in South Africa, which is owned by Walmart Inc, will return to work after reaching an agreement over disputes, a labour union said on Monday. The disgruntled workers had been on strike since Nov.19 over low wages, unilateral restructuring and changes to terms …
Strike ends at Walmart-owned Massmart after agreement reached Read More »
By Andrea Shalal WASHINGTON (Reuters) – International Monetary Fund chief Kristalina Georgieva will visit the Democratic Republic of Congo and Senegal this week, with a focus on how the global lender can best support Africa as it deals with the ongoing COVID-19 pandemic, the IMF said. Georgieva will travel on to Africa from Brussels, where …
IMF chief Georgieva to visit DR Congo, Senegal this week Read More »
JOHANNESBURG (Reuters) -The South African rand firmed on Monday on signs the Omicron coronavirus variant driving a fourth wave of COVID-19 infections in the country may be causing mainly mild infections. At 1500 GMT, the rand traded at 15.9025 against the dollar, 1.04% firmer than its previous close. Anecdotal accounts from South African doctors and …
South African rand firmer on early signs Omicron causing mild infections Read More »
NAIROBI (Reuters) – Ethiopia’s inflation fell in November compared from a month earlier, helped by a slower rise in food prices, the statistics office said on Monday. The Central Statistics Agency said in a statement that inflation fell to 33% year-on-year from 34.2% in October. On a monthly basis, inflation was -0.6% compared with -0.1% …
Ethiopia’s inflation falls in November, slowing food price rises help Read More »
JOHANNESBURG (Reuters) – South African lender Nedbank Group on Monday said its full-year profits would be close to double as performance across all industry segments has reached pre-pandemic levels, but flagged risks from a more severe fourth wave of COVID-19. The bank expects its full year headline earnings per share – the main measure of …
S.Africa’s Nedbank projects 90% increase in full year profit Read More »
KAMPALA (Reuters) – Shares in telecoms firm MTN Uganda rose 3% on Monday to trade at 206 shillings ($0.06), minutes after listing on the Ugandan bourse. ($1 = 3,565.0000 Ugandan shillings) (Reporting by Elias Biryabarema; Editing by Tom Hogue)
KINSHASA (Reuters) – Democratic Republic of Congo President Felix Tshisekedi on Friday announced a high-level shake-up at state mining company Gecamines, replacing board chairman Albert Yuma, a close ally of Tshisekedi’s predecessor. After coming to power in 2019, Tshisekedi re-appointed Yuma but named his own loyalists to senior positions in a bid to assert more …
Former Congo president’s ally loses chairmanship of state mining company Read More »
NAIROBI (Reuters) – Kenya’s Nairobi Securities Exchange has launched day trading, it said on Friday, allowing investors to buy and sell securities multiple times in a single day, to increase liquidity at the bourse. The exchange, which is among the biggest on the continent by trading volumes, is popular with foreign investors seeking exposure to …
Kenya’s NSE launches day trading to boost liquidity Read More »
