Reuters Africa Business

By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) – Democratic Republic of Congo expects to reach an agreement on overhauling $6 billion of an infrastructure-for-minerals deal with Chinese investors this year, Finance Minister Nicolas Kazadi told Reuters in an interview. The government is in active talks with representatives of Sicomines, a cobalt and copper …

Congo sees deal on $6 billion China mining contract overhaul this year -Finance Minister Read More »

JOHANNESBURG (Reuters) – South African food and fashion retailer Woolworths Holdings Ltd raised its profit growth forecast on Thursday, saying it now expected half-year earnings to jump as much as 80% on strong Black Friday sales and festive demand. Brick-and-mortar sales increased substantially as shoppers returned to physical stores, particularly in Australia after prolonged pandemic …

South Africa’s Woolworths raises profit guidance on Black Friday sales Read More »

JOHANNESBURG (Reuters) -South African consumers opened their wallets in November as Black Friday sales and online specials spurred demand for clothes, electronics and furniture, a sign consumption was starting to pick up despite rising interest rates and high inflation. Data from Statistics South Africa on Wednesday showed retail sales rose 0.4% year on year in …

South Africa retail sales rise in November on Black Friday boost Read More »

LONDON (Reuters) – Nigeria’s debt trajectory is sustainable the country’s finance minister said on Wednesday, adding that it planned to bring its key debt service-to-revenue ratio down sharply this year and would not borrow on the international capital markets. Nigeria’s government spent 80% of its revenue on debt servicing last year, a ratio that could …

Nigeria fin min says debt trajectory sustainable, no 2023 bond sale – BBG TV Read More »

JOHANNESBURG (Reuters) – South Africa’s headline consumer inflation slowed to 7.2% year on year in December from 7.4% in November, in line with analysts’ forecasts, statistics agency data showed on Wednesday. Price pressures have been gradually easing in Africa’s most industrialised economy, after inflation struck a 13-year high of 7.8% year on year in July. …

South Africa inflation dips to 7.2% y/y in December as forecast Read More »

JOHANNESBURG (Reuters) – The South African rand slipped early on Wednesday ahead of the release of domestic inflation and retail sales figures later in the day. At 0611 GMT, the rand traded at 17.0725 against the U.S. dollar, 0.1% weaker than its previous close. In global markets, the dollar was up about 0.2% against a …

South African rand slips ahead of inflation, retail sales data Read More »