By Rachel Savage JOHANNESBURG (Reuters) – Sub-Saharan Africa’s economy is set to grow 3.3% this year, down from 4.1% in 2021, the World Bank said on Tuesday, due to slowing global growth, drought, increased risk of debt distress and rising inflation made worse by Russia’s war in Ukraine. The 2022 forecast was cut from a …
Sub-Saharan Africa’s growth to drop to 3.3% this year, World Bank says Read More »
(Reuters) – Workers at South Africa’s state-owned logistics firm Transnet will go on strike starting this Thursday over a wage dispute, two labour unions said, in a move that could halt the export of key minerals and other cargo. Transnet has been operating below capacity due to a shortage of locomotives, poor maintenance and vandalism …
S.Africa’s rail and port workers to strike this week over wages – unions Read More »
KAMPALA (Reuters) – Afreximbank has approved $200 million toward financing of a contested oil pipeline to export Uganda’s crude, and is willing to finance construction of a refinery in the east African country, Uganda’s presidency said on Monday. The $3.5 billion pipeline will run from landlocked Uganda’s oilfields in the country’s west to a port …
Afreximbank approves $200 million for crude pipeline: Uganda presidency Read More »
By Christian Akorlie and Ange Aboa ACCRA (Reuters) – Cocobod, Ghana’s cocoa regulator, signed a $1.13 billion syndicated loan on Monday with international banks to finance purchases for the upcoming season, which is due to open later this month, it said in a statement. Ghana, the world’s second-largest cocoa producer behind Ivory Coast, uses loans …
Ghana’s Cocobod signs $1.13 billion loan for 2022/23 cocoa purchases Read More »
DUBAI (Reuters) – Petrol prices in Sudan fell on Tuesday from 700 Sudanese pounds to 522 pounds ($0.9235) per litre, the country’s energy ministry said in a statement following its monthly pricing review. Diesel prices also decreased slightly from 687 Sudanese pounds to 672 pounds per litre. ($1 = 565.2502 Sudanese pounds) (Reporting by Khalid …
Prices of petrol and diesel fall in Sudan – ministry statement Read More »
JOHANNESBURG (Reuters) – South Africa’s government said on Monday that the petrol pump price would decrease by up to 1.02 rand a litre and the diesel price would rise by up to 15 cents a litre from October 5. South Africa’s fuel prices are adjusted monthly due to factors including global oil prices and the …
South Africa to cut petrol, hike diesel prices from October 5 – govt Read More »
(Reuters) -South Africa’s rand firmed on Monday as the U.S. dollar traded lower due to moderating interest rate hike expectations. At 1511 GMT, the rand traded at 17.8200 against the dollar, 1.41% stronger than its previous close. The dollar index, which measures the currency against six rivals, was last down 0.597% at 111.560. Stocks on …
South African rand firms against dollar; stocks edge up Read More »
RABAT (Reuters) – Morocco’s trade deficit swelled 56.5% to 214.7 billion dirhams ($20 bln) in the first eight months this year on the back of higher energy and wheat imports, the foreign exchange regulator said on Monday. Imports rose 44.8% from a year earlier to 491.5 billion dirhams, while exports increased 37% to 276.8 billion …
CAIRO (Reuters) – The World Bank has agreed to provide Egypt with $400 million to develop the logistics and transportation sectors and support the shift towards lower carbon emissions, the group said in a statement on Monday. The project will focus on developing a railway bypass in Egypt’s congested Alexandria-the 6th of October-Great Cairo Area …
LUSAKA (Reuters) – Zambia has not yet started negotiations with its creditors but is preparing for the first meeting, Finance Minister Situmbeko Musokotwane said on Monday at a public meeting to discuss the country’s annual budget. The southern African nation became the continent’s first pandemic-era sovereign default nearly two years ago and according to the …
Zambia preparing for first meeting with creditors, Finance Minister says Read More »
