Reuters Africa Business

By Angus McDowall TUNIS (Reuters) – Tunisia’s bailout talks with the International Monetary Fund have looked stalled for months, and there is little sign President Kais Saied is willing to agree to the steps needed to reach a deal and help the country avoid a financial crisis. Tunisia reached a staff-level agreement with the fund …

Analysis-Fate of Tunisia’s stalled IMF loan lies in hands of unwilling president Read More »

By Hadeel Al Sayegh and Patrick Werr CAIRO (Reuters) -Egypt’s central bank has sent investment banks a request for proposals to pitch for an advisory role in the sale of United Bank of Egypt, which the central bank owns, two sources with knowledge of the matter said.     Several big Western banks have received the …

Egypt central bank seeks advisor for United Bank sale -sources Read More »

JOHANNESBURG (Reuters) – South Africa’s current account balance switched to a deficit of 2.6% of gross domestic product in the final quarter of 2022 from a small surplus in the third quarter, central bank data showed on Thursday. In rand terms the current account deficit for the October-December period was 174.0 billion rand from a …

South Africa current account deficit at 2.6%/GDP in fourth quarter Read More »

JOHANNESBURG (Reuters) -South African insurer Sanlam said on Thursday its full-year profit rose 3% as the benefits from lower claims in its life insurance business were offset by a weaker general insurance performance. The company said its headline earnings per share, a profit measure, stood at 454 South African cents in the year to Dec. …

S.African insurer Sanlam reports 3% rise in annual profit Read More »

JOHANNESBURG (Reuters) – S&P Global late Wednesday downgraded its outlook on South Africa to “stable” from “positive”, citing infrastructure constraints and a severe power crisis. South Africa’s economy contracted more than expected in the last quarter of 2022, as an escalation in rolling power cuts contributed to most sectors from agriculture to mining shrinking, data …

S&P downgrades South Africa’s outlook as power crisis weighs Read More »

LONDON (Reuters) – Shell on Thursday reported a sharp fall in oil spilled as a result of sabotage in Nigeria’s oil-rich Delta in 2022 reflecting closure of operations for six months in the wake of attacks. The volume of crude oil spilled caused by sabotage in the Delta fell to 600 tonnes from 3,300 tonnes …

Shell reports sharp fall in Nigeria oil spills after shutdown Read More »