Reuters Africa Business

HARARE (Reuters) – Astral Foods expects a 90% plunge in mid-year profit, the poultry processor said on Wednesday, citing rolling power cuts in South Africa that have hit production and hiked costs. One of South Africa’s largest poultry firms, Astral processes nearly six million chickens per week and accounts for about a quarter of the …

S.Africa’s Astral flags profit plunge as power crisis hits poultry production Read More »

By Chijioke Ohuocha and Camillus Eboh ABUJA (Reuters) -Nigeria’s central bank on Tuesday raised its benchmark lending rate by 100 basis points (bps) to 17.5%, as monetary authorities seek to rein in inflation without choking off lending to the private sector. Nigerians will head to the polls on Feb. 25 to choose a successor to …

Nigeria central bank hikes rates to 17.5% despite inflation dip Read More »

MILAN (Reuters) – Italy can significantly increase its gas imports from Africa and transfer some of the supply to northern Europe if it boosts its infrastructure in the next few years, the CEO of energy group Eni Claudio Descalzi told several Italian papers. Speaking from Algiers where he travelled with Italy’s Prime Minister Giorgia Meloni, …

Italy can boost African gas imports, Eni CEO says Read More »

JOHANNESBURG (Reuters) -South African pharmacy chain Clicks Group on Tuesday reported slower turnover growth for the 20-week period to Jan. 15 reflecting a sharp fall in COVID-19 vaccinations. Turnover rose by 2.9% versus growth of 10.4% seen a year earlier. Excluding vaccinations, turnover rose by 7.8% to 15.6 billion rand ($902 million) reflecting good volume …

S.Africa’s Clicks posts slower growth as COVID jabs drop Read More »

By Vuyani Ndaba JOHANNESBURG (Reuters) – The Bank of Ghana, wrestling with runaway inflation, is expected to deliver another hefty interest rate hike at its meeting later this month, with the country’s currency and public finances still under pressure, a Reuters poll of economists showed. Nigeria’s central bank, meanwhile, is due to hold its key …

POLL: Bank of Ghana to raise rates by 175 basis points later in January Read More »

(Reuters) – ArcelorMittal South Africa shares fell by 13% on Tuesday after the steelmaker said its annual profit would decline by as much as 65%. In a trading update, ArcelorMittal South Africa said it expects headline earnings per share (HEPS) – the main profit measure for South African companies – between 2.15 rand ($0.1245) and …

ArcelorMittal South Africa shares fall after profit warning Read More »