(Reuters) – Microsoft Corp has reached a deal with Africa’s biggest independent fiber network toward its goal of expanding internet access on the continent, its President Brad Smith said. The agreement, with Liquid Intelligent Technologies, by 2025 aims to widen connectivity in countries such as Zambia and the Democratic Republic of the Congo to 20 …
Microsoft Africa internet plan moves forward with fiber deal Read More »
(Reuters) – The International Monetary Fund said on Wednesday it approved about $114.8 million in emergency funding support for South Sudan, where millions are facing food insecurity. “This emergency financing under the Food Shock Window will help South Sudan to address food insecurity while maintaining social and growth-enhancing spending,” it said in a statement. South …
IMF approves $114.8 million for South Sudan in emergency funding Read More »
By Nelson Banya (Reuters) -Gold mining sector mergers and acquisitions are inevitable due to the need to replace depleting mineral reserves, Harmony Gold Chief Executive Peter Steenkamp said on Wednesday. U.S-based Newmont Corp, the world’s top gold producer, last month tabled a $16.9 billion bid for Australia’s Newcrest Mining, igniting speculation of a new wave …
Harmony Gold CEO says gold sector consolidation ‘inevitable’ Read More »
By Rachel Savage JOHANNESBURG (Reuters) – Nigeria’s new president-elect Bola Tinubu has a reputation for raising taxes and appointing technocrats that international investors hope will carry through to his presidency and usher in reforms to the exchange rate and costly fuel subsidies. Tinubu, whose victory in Saturday’s vote with 37% of the vote is being …
Investors hope Tinubu’s Nigeria presidential poll win heralds reform Read More »
JOHANNESBURG (Reuters) -The South African rand gained on Wednesday after China’s manufacturing activity expanded at its fastest pace since April 2012, fuelling risk-on appetite globally. At 1540 GMT, the rand traded at 18.1575 against the dollar, about 1% stronger than its previous close. China is South Africa’s largest trading partner, so positive news about the …
South African rand gains as China data boosts risk-taking Read More »
DAKAR (Reuters) – West Africa’s Central Bank, BCEAO, will raise its main lending rate by 25 basis points to 3.00% from March 16 to bring inflation within its target range, it said on Wednesday. The bank said in a statement that inflation decreased to 6% in January from 7% in December but the rate hike …
West Africa Central Bank raises main lending rate to 3.00% Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) -South African drugmaker Aspen Pharmacare is close to signing four partnerships to revive its COVID-19 vaccine production lines that are generating no revenues, its CEO said, sending its shares up almost 10% in the day. Aspen had a contract with Johnson & Johnson to produce 250 million doses a year …
S.Africa’s Aspen set for deals to revive idled production lines Read More »
GABORONE (Reuters) – Botswana expects output from its mining sector to be flat this year, as the diamond industry loses its sparkle due to a contraction in consumer spending and weaker demand for diamond jewellery, a finance ministry official said on Wednesday. Overall mining output in 2022 rose by 8.2%. But this year, gains in …
Botswana mining growth seen flat amid dim diamond outlook Read More »
CAIRO (Reuters) – Egypt’s net foreign assets (NFAs) declined by 160.2 billion Egyptian pounds in January, likely due to debts maturing and importers clearing backlogs from ports. NFAs deteriorated to a negative 654.43 billion Egyptian pounds from a negative 494.3 billion at end-December, central bank data showed. This works out to a decline of $1.70 …
Egypt’s net foreign assets decline by $1.7 billion in January Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South African department store chain Woolworths Holdings Ltd reported a 75.1% jump in mid-year earnings on Wednesday but warned of a slower growth second half impacted by the country’s power crisis. Brick-and-mortar sales increased substantially in the first half ended Dec. 25, the company said, as shoppers, particularly in Australia, …
Woolworths’ HY profit up 75%; South Africa power crisis to hurt growth Read More »
