Reuters Africa Business

By Nqobile Dludla GQEBERHA, South Africa (Reuters) -South Africa’s domestic new vehicle sales are on track to exceed pre-pandemic levels for the first time in five years, driven by consumer demand for affordable cars, the president of the auto industry group NAAMSA said on Wednesday. Speaking at the organization’s annual auto conference, Billy Tom told …

South Africa’s new vehicle sales on track to surpass pre-pandemic levels in 2025 Read More »

ACCRA (Reuters) -Ghana’s annual consumer inflation rate slowed for the ninth consecutive month in September, falling to 9.4% year-on-year from 11.5% in August, marking its lowest level since August 2021, the statistics service said on Wednesday. Government statistician Alhassan Iddrisu told a press conference that the decline was driven primarily by easing food prices compared …

Ghana inflation eases to 9.4% lowest level since August 2021 Read More »

CAPE TOWN (Reuters) -Italian energy group Eni is expected to agree a final investment decision for Mozambique’s second floating liquefied natural gas (LNG) platform at an event in the capital Maputo on Thursday, two sources familiar with the matter told Reuters. Mozambique’s government in April approved the development plan for the Coral North floating platform, …

Eni to sign FID for Coral North project in Mozambique, sources say Read More »

JOHANNESBURG (Reuters) -South African manufacturing sentiment improved in September, driven by strong domestic demand, a purchasing managers’ index (PMI) survey showed on Wednesday. The seasonally-adjusted PMI sponsored by South African bank Absa rose to 52.2 points in September from 49.5 in August. It was only the second time this year that the PMI has been …

South African factory mood improves in September, Absa PMI shows Read More »

LAGOS (Reuters) -Nigeria’s oil workers union has agreed to call off a strike after a meeting with the management of Dangote Petroleum and government officials, the country’s labour ministry said. The strike was called after the Dangote refinery – Africa’s largest with a crude processing capacity of 650,000 barrels per day – dismissed more than …

Nigeria oil union agrees to call off strike after talks with Dangote Petroleum Read More »

By Colleen Goko JOHANNESBURG -South Africa’s tax authority is lagging behind projections required to secure an additional 35 billion rand ($2.0 billion) in revenue, data from the National Treasury revealed, though it is on track to meet its 2025/26 baseline target. The South African Revenue Service (SARS) has collected approximately 39.3 billion rand so far …

South Africa tax agency falling short on extra collections ambition Read More »

By Aaron Ross and Tim Cocks NAIROBI/JOHANNESBURG (Reuters) -The lapse of a flagship U.S. trade initiative with Africa that expired overnight is putting scores of businesses on the continent and hundreds of thousands of jobs at risk, raising fears that even a promised extension may come too late. There is bipartisan support in Washington for …

African exports face immediate damage from lapse of US trade initiative Read More »