Reuters Africa Business

(Reuters) – South Africa’s business confidence inched down in the fourth quarter as a rebound in building confidence was offset by the first significant falls in wholesale and retail confidence since the COVID-19 pandemic, data showed on Wednesday. A survey by the Rand Merchant Bank (RMB) compiled by the Bureau for Economic Research showed that …

S.Africa’s business confidence drops slightly in fourth quarter – survey Read More »

JOHANNESBURG (Reuters) – South Africa’s Naspers Ltd said on Wednesday its interim profit slipped 93% as the technology investor increased funding of its businesses and also due to a lower contribution of profit from its biggest investment Tencent. The Cape Town-based firm reported a headline earnings per share of 24 cents for the six months …

S.African tech investor Naspers first-half profit slumps 93% Read More »

NAIROBI (Reuters) – Kenya’s Standard Chartered Bank on Wednesday reported a 38% increase in its pretax profit for the first nine months of this year to 12.29 billion shillings ($100.66 million), thanks to a drop in its provisions for bad debts. The lender, which is controlled by Standard Chartered Plc, said in a statement its …

StanChart Kenya’s nine-month pretax profit jumps 38% Read More »

By Chijioke Ohuocha and Camillus Eboh ABUJA (Reuters) -Nigeria’s central bank raised its main lending rate for the fourth straight time to 16.50% from 15.50% on Tuesday as policymakers seek to rein in inflation slowing economic growth ahead of elections next year. Inflation and the state of Africa’s biggest economy will be major issues when …

Nigeria’s central bank hikes main lending rate by 1% Read More »

RABAT (Reuters) – Private hospital operator Akdital will launch an initial public offering (IPO) to raise 1.2 billion dirhams ($110 million) on the Casablanca stock exchange to fund its development plan, bourse regulator AMMC said on Tuesday. The offering will take place through a capital increase and a share sale with the subscription period running …

Moroccan clinic operator Akdital to launch IPO in Casablanca Read More »

WASHINGTON (Reuters) – The International Monetary Fund said it reached a staff-level agreement with Guinea-Bissau for a three-year, $36.3 million extended credit facility to create fiscal space to support an inclusive economic recovery and secure debt sustainability. The agreement for the loan program, announced at the end of a Nov. 15-21 IMF mission to Bissau, …

IMF, Guinea-Bissau agree on $36.3 million, three-year loan program Read More »

JOHANNESBURG (Reuters) – Technology investor Naspers flagged on Monday an up to 61.70% slump in half-year core earnings, due to investments in ecommerce and lower contributions from companies in which it holds significant stakes, including China’s Tencent. The South Africa-listed company said in a statement core headline earnings per share for the six months ended …

South Africa’s Naspers flags half-year earnings slump Read More »