NAIROBI (Reuters) – Kenya’s inflation dipped to 9.1% year-on-year in December, down from 9.5% a month earlier, the statistics office said on Friday, easing for the second month in a row on lower food and fuel prices. Inflation peaked at 9.6% in October, the highest level since May 2017. Last month Kenya’s central bank raised …
Kenya’s inflation dips for second straight month Read More »
JOHANNESBURG (Reuters) – South Africa recorded a trade surplus of 7.98 billion rand ($471 million) in November, up from a revised deficit of 5.31 billion rand in October, data from the revenue service showed on Friday. The trade surplus represents exports of 172.67 billion rand and imports of 164.69 billion rand in November, the South …
(Reuters) – An Ivorian subsidiary of French telecoms company Orange was listed on West Africa’s regional bourse on Friday, following a successful initial public offering earlier this month. Orange Cote d’Ivoire launched an initial public offering on Dec. 5. Stock worth 140.98 billion CFA francs ($215 million) was sold at 9,500 CFA francs per share …
Ivory Coast’s Orange subsidiary listed on West Africa regional bourse Read More »
CAIRO (Reuters) – Egypt on Thursday lifted a key restriction on imports and approved a list of economic activities the government would leave to the private sector, in an effort to meet two key conditions attached to the International Monetary Fund’s $3 billion support package. In a statement, the central bank said it dropped a …
Egypt lifts import curbs, backs bigger private sector role to meet IMF demands Read More »
JOHANNESBURG (Reuters) – South Africa’s private sector credit expanded 8.30% year on year in November, after rising by 9.34% in October, central bank data showed on Friday. The broadly defined M3 measure of money supply increased by 8.76% in November after growing 9.82% in the previous month. (Reporting by Bhargav Acharya)
JOHANNESBURG (Reuters) -South Africa’s rand firmed against the dollar on Thursday, as U.S. weekly jobless claims data pointed to a cooling off in the labour market, easing worries about harsher Federal Reserve rate hikes next year. At 1559 GMT, the risk-sensitive rand traded at 16.8875 against the dollar, 1.2% stronger than its previous close. The …
South African rand firms against dollar, stocks slide Read More »
ABUJA (Reuters) – The Nigerian naira dropped on Thursday to a record low of 462 per dollar on the official market, Refinitiv data showed, with traders saying the central bank has been adjusting rates to cope with backlog demand for foreign exchange. The currency weakened to a low of 461 to the dollar on the …
Nigerian naira drops to record low on official market Read More »
KAMPALA (Reuters) – The portion of domestic revenues Uganda is using to service its public debt rose to 30% in the year to October from 24% in the same period two years earlier and is putting undue pressure on public finances, the central bank said. In a report on the economy’s performance, the Central Bank …
Debt servicing putting increased pressure on Uganda revenues – cenbank Read More »
NAIROBI (Reuters) – Kenya’s shilling was stable in early trade on Thursday, but it was expected to weaken during the session due to increased demand for dollars from oil retailers, traders said. At 0705 GMT, commercial banks quoted the shilling at 123.35/55 per dollar, compared with Wednesday’s closing rate of 123.30/50. ………………………Shilling spot rates …………………Shilling …
Kenya’s shilling seen under pressure from oil importers Read More »
NAIROBI (Reuters) – Somalia rejected on Wednesday what it called an “illegal claim” by Genel Energy to oil exploration and exploitation rights in the country’s northern breakaway region of Somaliland, the country’s oil ministry said. Somaliland claimed independence from Somalia in 1991, and has been largely peaceful while the rest of the country has grappled …
Somalia rejects Genel Energy’s “illegal claim” to oil permits Read More »
