Reuters Africa Business

By Ange Aboa ABIDJAN (Reuters) -Ivory Coast’s cocoa regulator has restricted 20 major traders, including Cargill and Barry Callebaut, from purchasing beans for export after they reached their buying limits, the head of the Coffee and Cocoa Council (CCC) said on Thursday. Port arrivals have slowed as the world’s top cocoa producer heads towards the …

Ivory Coast restricts cocoa bean purchases for major traders as cap reached Read More »

NAIROBI (Reuters) – Kenya Airways will restart monthly contributions to its staff pension fund which were stopped due to the COVID pandemic, an internal memo showed on Thursday, resolving a key grievance that led to a pilot strike. Tens of thousands of passengers were stranded last November when the carrier’s 400 pilots walked out, demanding …

Kenya Airways to resume staff pension contributions after three-year suspension Read More »

(Reuters) – South Africa’s Harmony Gold expects profit for the six months to Dec. 31 to have risen by as much as 30%, it said on Thursday, with higher metal grades and prices offsetting increased production costs. Harmony Gold said headline earnings per share (HEPS)- the most common profit measure in South Africa – are …

Harmony Gold says profit boosted by better metal grades and prices Read More »

JOHANNESBURG (Reuters) -South African insurer Discovery Ltd reported a 9% drop in interim profit on Thursday, hurt by higher interest rates and macroeconomic volatility. It posted headline earnings per share (HEPS), which strip out one-off items, of 453.6 cents for the half year that ended Dec. 31, as against 499.1 cents a year earlier. Normalised …

Insurer Discovery posts 9% drop in interim profit on higher rates, choppy market Read More »

JOHANNESBURG (Reuters) – Andre de Ruyter, the chief executive of South Africa’s state power utility Eskom, will leave the company with immediate effect, Eskom said on Wednesday. Eskom said in a statement that the decision was taken following a special meeting between the company’s board and de Ruyter. “The board… resolved that… he will be …

CEO of South Africa’s utility Eskom to leave with immediate effect Read More »

LAGOS (Reuters) – Nigeria has picked local energy firm Mainstream Energy Solution Ltd to operate and manage a Chinese-funded hydro electric power station at a cost of $70 million a year for the next 30 years, the Bureau of Public Enterprises (BPE) said on Wednesday. The BPE had said in November it was looking to …

Nigeria gives power concession to local firm at $70 million a year Read More »