ABUJA (Reuters) – The International Monetary Fund on Wednesday maintained its 2022 growth forecast for Nigeria at 3%, saying the economy has recouped output losses sustained during the COVID pandemic, bolstered by favourable oil prices and domestic consumption. (Reporting by Chijioke Ohuocha and Kanjyik Ghosh; Editing by Kevin Liffey)
KIGALI (Reuters) – Rwanda’s economy is forecast to grow at a slightly slower pace this year before picking up speed again in 2024 and 2025, Finance Minister Uzziel Ndagijimana said on Wednesday. Ndagijimana told parliament the economy was forecast to grow 6.2% in 2023 and around 7.5% in 2024 and 2025. The finance ministry estimates …
Rwandan economy seen growing 6.2% this year: finance minister Read More »
JOHANNESBURG (Reuters) – Supermarket group Pick n Pay said on Wednesday its four-month sales grew by 6.4%, but its like-for-like sales growth in South Africa was softer, impacted by store revamps and unprecedented power cuts in the last quarter of 2022. At market open, shares of Pick n Pay, South Africa’s second biggest supermarket chain, …
Pick n Pay sales grow but warns on extra costs from power cuts Read More »
CAPE TOWN (Reuters) – Angola will seek a foreign listing for state-owned diamond miner Endiama after an initial public offering at home, its mines minister said, even as the company’s operations are affected by links with sanctions-hit Russian miner Alrosa. The OPEC member country has embarked on a major drive to reform and privatise the …
Angola seeks dual listing for diamond miner Endiama, to sell 5-10% stake first Read More »
(Reuters) – Ratings agency Moody’s lowered Egypt’s sovereign rating by one notch to B3 from B2 on Tuesday, citing the country’s reduced external buffers and shock absorption capacity. The agency changed its outlook for Egypt to stable from negative. “Moody’s does not expect Egypt’s liquidity and external positions to rebound quickly”, the agency said. Egypt …
Moody’s cuts Egypt rating to B3, changes outlook to stable Read More »
ACCRA (Reuters) – Ghana has extended the deadline to register for its domestic debt exchange programme to Feb. 10, after some bondholders experienced “technical glitches” while completing the process, the finance ministry said in a statement on Tuesday. It is the fifth time the West African nation has extended the deadline for the scheme, which …
Ghana extends domestic debt exchange registration to Feb. 10 after ‘glitches’ Read More »
CAPE TOWN (Reuters) – Microsoft visited an artisanal cobalt mine in Democratic Republic of Congo in December as part of attempts to jump-start formalisation of the little-regulated and dangerous industry that experts say is key to meeting global demand for the battery material. Congo accounts for three-quarters of the world’s mined cobalt supply. Industrial mines …
Microsoft calls for ‘coalition’ to improve Congo’s informal cobalt mines Read More »
JOHANNESBURG (Reuters) -South Africa’s rand inched higher against the dollar on Tuesday ahead of a speech by Federal Reserve Chair Jerome Powell that could provide further clues on the U.S. interest rate hike path. At 1545 GMT, the rand traded at 17.6400 against the dollar, about 0.11% stronger than its previous close. The dollar rose …
South African rand inches up ahead of Fed chair Powell’s speech Read More »
NAIROBI (Reuters) – Kenya’s sole power distributor Kenya Power aims to convert its 2,000 petrol and diesel-driven vehicles to electric over the next four years, it said on Tuesday. The move is part of a rising trend in the East African economy to take advantage of the abundant electricity supply from renewable sources, and switch …
Kenya Power to convert its 2,000 vehicles to electric over 4 years Read More »
NAIROBI (Reuters) – Kenya’s sole power distributor Kenya Power aims to convert its 2,000 petrol and diesel-driven vehicles to electric over the next four years, it said on Tuesday. The move is part of a rising trend in the East African economy to take advantage of the abundant electricity supply from renewable sources, and switch …
Kenya Power to convert its 2,000 vehicles to electric over 4 years Read More »
