DAKAR (Reuters) -Growth in Senegal’s economy is expected to accelerate in 2023 but still come in lower than expected, IMF mission chief Edward Gemayel said on Tuesday following a staff-level visit. He said in November that the West African country’s economy was expected to grow 8.3% in 2023 on the back of a temporary boost …
IMF sees Senegal 2023 growth lower than expected, lowers 2022 GDP estimate Read More »
ABUJA (Reuters) – Nigeria’s central bank will allow old bank notes to continue as legal tender until year-end to comply with a court order earlier this month, the bank said in a statement late on Monday, raising hopes this would ease acute cash shortages in the economy. The Supreme Court on March 3 ordered the …
Nigeria central bank says old naira notes still legal tender Read More »
NAIROBI (Reuters) – Kenya has signed deals with UAE’s ADNOC and Saudi Aramco for the supply of petroleum products with a six months credit period, its energy minister said on Monday, a move designed to curb demand for dollars that has weakened the local currency. The East African nation is switching to the longer payment …
Kenya signs oil deals with ADNOC and Saudi Aramco to curb FX pressure Read More »
NAIROBI (Reuters) – Standard Chartered Kenya posted a 36% jump in its pretax profit for 2022 to 17.1 billion shillings ($132.15 million), its chief financial officer said on Tuesday. The increase was due to reopening of businesses after the COVID-19 pandemic, which fueled demand for loans, and an increase in lending rates, CFO Chemutai Murgor …
StanChart Kenya’s pretax profit rises 36% in 2022 Read More »
JOHANNESBURG (Reuters) – South African insurer Old Mutual Ltd reported on Tuesday a 10% rise in full-year profit as it benefitted from a drop in mortality claims in its biggest life insurance business. Its headline earnings per share, a profit measure, was at 180.1 South African cents in the year to Dec. 31, up from …
S.African insurer Old Mutual posts 10% rise in FY profit Read More »
By Chris Prentice and Nell Mackenzie NEW YORK/LONDON (Reuters) – Global bank shares and short-dated U.S. Treasury yields plunged on Monday as concerns over fallout from the collapse of Silicon Valley Bank lingered despite action from regulators. The U.S. dollar also fell. Gold and silver prices rallied on safe-haven buying. [GOL/] Bond markets saw a …
Bank shares plunge on contagion fears; precious metals rally Read More »
JOHANNESBURG (Reuters) -The South African Labour Appeal Court on Monday ordered striking state healthcare workers to end a week-long walkout that has affected services in some of the country’s major hospitals, the health department said. National Education, Health and Allied Workers’ Union (NEHAWU) members went on strike last week after wage talks with the government …
South African court orders striking healthcare workers to end walkout Read More »
JOHANNESBURG (Reuters) -The South African rand firmed on Monday as the dollar fell sharply on expectations that the largest U.S. bank failure since the 2008 financial crisis would prompt the Federal Reserve to slow the pace of its interest rate hikes. At 1531 GMT, the rand traded at 18.1850 against the dollar, about 0.8% firmer …
South African rand strengthens as markets bet on less-hawkish Fed stance Read More »
ABIDJAN (Reuters) – Mainly above average rains last week in most of Ivory Coast’s cocoa-growing regions were favourable for the April-to-September mid-crop, which is expected to start early and to be bigger than last year’s output, farmers said on Monday. Ivory Coast, the world’s top cocoa producer, is in its dry season which runs officially …
Ivory Coast rains to strengthen cocoa mid-crop, farmers say Read More »
NAIROBI (Reuters) -Kenya’s earnings from tea exports rose to 138 billion shillings ($1.07 billion) in 2022, from 136 billion shillings previously, regulator Tea Board said, as the weakening of the local currency helped to blunt the impact of lower export volumes. The East African nation is the leading exporter of black tea in the world …
Kenya’s 2022 earnings from tea exports rise to 138 billion shillings Read More »
