ABUJA (Reuters) – Nigeria will award contracts for its flared gas by the end of December under an accelerated programme to harness gas that is released as a byproduct of oil production, the country’s petroleum regulator said. President Muhammadu Buhari first launched the programme to auction rights to capture and sell flared gas in 2016. In …
Nigeria to award flare gas contracts by end-December Read More »
(Reuters) – South African manufacturing activity contracted in September as extensive power cuts weighed on production and new sales orders declined, a survey showed on Monday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) was at 48.2 points in September from 52.1 points in August, falling below the 50-point mark that separates expansion from contraction. “Even …
South African factory activity contracts in September- Absa PMI Read More »
JOHANNESBURG (Reuters) -Endeavour Mining’s operations in Burkina Faso are “unaffected by recent political events”, the gold miner said on Monday after the West African nation’s second military coup of the year on Friday. Endeavour is the biggest mining company in Burkina Faso, with four gold mines – Houndé, Mana, Boungou, and Wahgnion – and two …
Burkina Faso miners say work continues despite coup Read More »
CAIRO (Reuters) – Egypt’s net foreign assets (NFAs) fell by 18.06 billion Egyptian pounds ($925 million) in August, resuming a near year-long decline that had paused the month before, central bank data showed. The central bank has been relying on NFAs, which represent banking system assets owed by non-residents minus liabilities, to help support the …
Egypt’s net foreign assets resume decline in August Read More »
LAGOS (Reuters) – Nigeria’s state-owned oil company NNPC Ltd has bought the marketing business of unlisted OVH Energy, giving it access to 380 fuel stations in Africa’s largest oil producer and Togo, among other assets, the two companies said on Saturday. OVH Energy Marketing, the owner and operator of Oando branded retail service stations, said …
Nigerian oil firm NNPC buys OVH Energy’s downstream assets Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened against the dollar on Friday, after data showed the country’s trade surplus narrowed significantly in August. At 1646 GMT, the rand traded at 18.0700 against the dollar, 0.63% weaker than its previous close. South Africa recorded a trade surplus of 7.18 billion rand ($397.34 million) in August, down from …
South African rand weakens after local trade data disappoints Read More »
By Chris Mfula and Bhargav Acharya LUSAKA (Reuters) -Zambia will have a wider budget deficit this year than previously projected while economic growth is seen slowing compared to last year, Finance Minister Situmbeko Musokotwane said on Friday. Presenting the 2023 budget, Musokotwane said the 2022 budget deficit is projected at 9.8% of GDP, wider than …
Zambia sees wider 2022 budget deficit, slow GDP growth Read More »
(Reuters) – Mozambique’s central bank on Friday raised its MIMO interest rate by 200 basis points to 17.25%. (Reporting by Bhargav Acharya in Bengaluru; Editing by Alexander Winning)
By Duncan Miriri NAIROBI (Reuters) -Kenya’s central bank considers the threat from inflation the “number one evil” and is determined to prevent it from becoming entrenched, the bank’s governor said on Friday. Policymakers hiked the benchmark lending rate by 75 basis points on Thursday, citing growing inflationary pressures at home and turmoil in financial markets …
Inflation is ‘number one evil’, Kenya central bank governor says Read More »
LUSAKA (Reuters) – Zambia is under debt distress and is requesting its creditors quickly complete debt restructuring, finance minister Situmbeko Musokotwane said on Friday. “We appeal to our creditors to support us so that together we can quickly attain debt restructuring,” Musokotwane said. The copper-rich country in November 2020 became the first in Africa to …
Zambia appeals for quick completion of debt restructuring, Finance Minister says Read More »
