CAIRO (Reuters) -Egypt’s annual urban consumer inflation accelerated faster than expected in October, climbing to a four-year high of 16.2%, data from the statistics agency CAPMAS showed on Thursday. Year-on-year inflation increased to its highest since October 2018, when it hit 17.68%, from 15.0% in September. Core inflation rose to 19% in October from 18% …
Egypt’s headline inflation jumps to 16.2% in October Read More »
By Mahmoud Salama CAIRO (Reuters) – Blnk, a fintech platform that enables instant consumer credit in Egypt, has closed one of the country’s biggest funding rounds for a startup this year, raising $32 million, its chief executive said. The company, launched in October 2021, raised $23.7 million in equity and debt funding and $8.3 million …
Egyptian startup Blnk raises $32 million in funding round Read More »
JOHANNESBURG (Reuters) – South Africa’s manufacturing output rose 2.9% year on year in September after rising by a revised 1.7% in August, statistics agency data showed on Thursday. Factory production rose 4.9% month on month in September. Analysts had predicted a 2.35% fall in annual terms in September and for output to be flat month …
South African manufacturing output up 2.9% y/y in September Read More »
NAIROBI (Reuters) – Kenya will set a lower budget deficit of 4.3% of GDP in the fiscal year to June 2024, compared with 5.8% in the current fiscal year, the finance ministry said on Thursday. (Reporting by Duncan Miriri; editing by John Stonestreet)
MILAN (Reuters) – Stellantis on Wednesday said it would invest more than 300 million euros ($300 million) on Morocco’s Kenitra plant to double local production capacity. The car maker said in a statement after a meeting with government officials in Rabat that it would introduce a “smart car” platform at the plant, as it strives …
Stellantis to invest more than 300 million euros in Morocco’s Kenitra plant Read More »
By Aidan Lewis SHARM EL-SHEIKH, Egypt (Reuters) – Sudan’s finance minister said on Wednesday said the government was borrowing limited amounts from the central bank, but was still able to control inflation. Sudan’s economy has been in crisis for years. That crisis has deepened and the economic activity has stagnated since a military takeover in …
Sudan borrowing limited amounts from central bank -finance minister Read More »
(Reuters) -Gold fields shares jumped 21% on Wednesday after a deal to acquire Yamana Gold broke down and the Canadian miner said it would pay a $300 million break fee. The shares rose to their highest level since the end of May, reversing the plunge that followed news of the planned acquisition of Yamana. The …
Gold Fields shares jump 21% after Yamana deal collapse Read More »
By Nelson Banya (Reuters) -South Africa’s Royal Bafokeng Platinum said on Wednesday that an independent board will appoint an expert to evaluate Northam Platinum’s takeover bid, which rivals an offer by Impala Platinum. The expert’s opinion on the counterbid will be included in the RBPlat’s response to Northam, due to be published on Dec.7. “The …
South Africa’s RB Platinum says expert to evaluate Northam bid Read More »
JOHANNESBURG (Reuters) -The South African rand slipped on Wednesday, as the dollar rose with investors awaiting results from U.S. midterm elections. At 1528 GMT, the rand traded at 17.79 against the dollar, about 0.4% weaker than its previous close. The dollar index, which tracks the dollar against a basket of other currencies, was up more …
South African rand slips as dollar finds footing Read More »
HARARE (Reuters) – Zimbabwe’s miners face rising costs and persistent electricity shortages which will impact the sector’s growth prospects next year, an industry body said on Wednesday. The southern African country has pinned hopes on the mining sector to drive its economic recovery after years of decline blamed on the government’s forced seizure of white-owned …
Zimbabwe miners say costs, power shortages dampen 2023 growth prospects Read More »
