Reuters Africa Business

By Andrea Shalal and Jorgelina do Rosario WASHINGTON (Reuters) – Western countries this week ratcheted up their criticism of China, the world’s largest bilateral creditor, as the main obstacle to moving ahead with debt restructuring agreements for the growing number of countries unable to service their debts. U.S. Treasury Secretary Janet Yellen said on Friday …

Global finance leaders single out China as barrier to faster debt relief Read More »

CAPE TOWN (Reuters) -South African Airways (SAA) is in talks with Airbus to acquire a new wide-body long haul aircraft to replace its A340 which it wants to dispose of, its top official said on Friday. State-owned SAA has experienced longstanding financial woes that were exacerbated by the COVID-19 pandemic, forcing it to halt all …

South African Airways in talks with Airbus to acquire long haul aircraft Read More »

By Vuyani Ndaba JOHANNESBURG (Reuters) – Key Sub-Saharan African economies will grow tepidly into next year, restrained by stubborn inflation as the dollar’s strength drives up import costs, undermining hawkish local monetary policy, a Reuters poll found. Economists and analysts watching the continent have nudged some forecasts lower in anticipation of a tighter global environment …

Sub-Saharan Africa economies forecast to grow tepidly into next year Read More »

JOHANNESBURG (Reuters) – The war in Ukraine has increased risks for Sub Saharan Africa causing higher inflation and increased debt levels, Abebe Selassie, the International Monetary Fund’s Africa head, said on Friday. (Reporting by Rachel Savage and Bhargav Acharya; Editing by James Macharia Chege)

By Rachel Savage, Marc Jones and Jorgelina do Rosario JOHANNESBURG/LONDON (Reuters) -Africa’s central banks are walking a tightrope trying to curb inflation that is mostly out of their control and causing “horrifying” food insecurity, the International Monetary Fund’s Africa head warned. The IMF’s twice-yearly Regional Economic Outlook released on Friday warned that 123 million people, …

Global inflation causing ‘horrifying’ food insecurity, says IMF Africa head Read More »

CAPE TOWN (Reuters) – Africa’s beleaguered airline industry could return to profit at the end of 2024, although regulatory uncertainty and higher fuel prices pose critical challenges, senior aviation officials said at an annual industry meeting on Friday. Internal air travel in Africa has long been fragmented due to poor infrastructure and connectivity, as travellers …

Africa’s airline industry to return to profit in 2024, IATA official says Read More »

NAIROBI (Reuters) – Diageo Plc, the world’s largest spirits maker, has offered to buy additional shares in Kenya’s East African Breweries to boost its stake by a third to 65%, it said on Friday. Diageo is offering to buy 118.39 million shares at 192 shillings ($1.59) each, the multinational drinks group said in a statement, …

Diageo seeks to raise its stake in Kenyan brewer EABL, to keep listing Read More »

LAGOS (Reuters) – Nigeria is not restructuring its debt, the country’s Debt Management Office (DMO) said in a statement on Thursday. The country is exploring bond buy-back and bond exchanges to manage its debt liability, the office said in the statement, and it assured investors and creditors that it would “meet all its debt obligations.” …

Nigeria says it is not restructuring its debt, can meet obligations Read More »