JOHANNESBURG (Reuters) – South Africa’s struggling utility Eskom is seeking an average power tariff increase of just over 32% for the financial year that starts on April 1 2023, much higher than originally sought, it said on Thursday. South Africa’s energy regulator Nersa has said it intends to announce its decision on Eskom’s tariff application …
South Africa’s Eskom seeks 32% power tariff hike in April Read More »
JOHANNESBURG (Reuters) – South African lender FirstRand Ltd on Thursday reported a 22% rise in full-year profit, near the middle of its estimated range, as the bank continued to benefit from a rebound in economic activity. The continent’s biggest bank by market capitalisation posted a headline earnings per share (HEPS) – the main profit measure …
S.African lender FirstRand reports 22% rise in full-year profit Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s central bank will raise its key interest rate by 75 basis points next week to brake inflation, a Reuters poll found, adding another 25 basis points in each of the following two quarters before pausing for the rest of 2023. A majority of economists in a Sept. …
POLL: South African Reserve Bank to hike rate 75 bps to 6.25% on Sept. 22 Read More »
(Reuters) – London-listed Tertiary Minerals on Thursday said it had signed an agreement with First Quantum Minerals to jointly explore two copper projects in Zambia. First Quantum, one of the top 10 copper producing companies in the world, operates two copper mines in Zambia, Africa’s second largest producer of the mineral. Tertiary is a mineral …
Tertiary says it has tied up with First Quantum to advance Zambia copper projects Read More »
(Reuters) -South Africa’s rand held steady against the dollar on Wednesday amid investor caution despite U.S. producer price data allaying some fears over inflation. At 1602 GMT, the rand traded at 17.4600 against the dollar, marginally softer than its previous close. The dollar index, which measures the currency against six rivals, was last trading down …
S.African rand steady as dollar retreats after U.S. PPI data Read More »
NAIROBI (Reuters) -Kenya’s budget deficit is expected to reduce next year as the East African nation’s economy continues its recovery from the effects of the COVID-19 pandemic, a finance ministry document seen by Reuters on Wednesday showed. The economy is expected to slow this year after an unexpected resurgence in 2021 following a contraction 2020 …
Kenya’s budget deficit to fall next year – Finance Minister document Read More »
ABUJA (Reuters) – Africa-focused fintech firm Flutterwave said on Wednesday it has added Nigeria’s eNaira as a payment option for merchants, a move that could help boost adoption of the digital currency. Nigeria, the first African nation to launch a digital currency, is targeting 8 million users for the app launched in October. But adoption …
Flutterwave adds Nigeria’s eNaira as payment option for merchants Read More »
ACCRA (Reuters) -Consumer inflation in Ghana climbed further, to 33.9% in annual terms in August from 31.7% in July, data showed on Wednesday, reaching its highest level since 2001 just weeks after the largest lending rate hike in the country’s history. The central bank raised rates by 300 basis points to 22% last month at …
Ghana inflation climbs to 21-year peak of 33.9% in August Read More »
JOHANNESBURG (Reuters) – South African retail sales rose 8.6% year on year in July after falling by a revised 2.3% in June, Statistics South Africa figures showed on Wednesday. On a month-on-month basis, sales were down 0.1%. Sales in the three months to the end of July were up 1.8% compared with the same period …
South African retail sales rise 8.6% year on year in July Read More »
By Camillus Eboh LAGOS (Reuters) – Nigeria’s plan to commercialise gas burned from its oil fields was at an advanced stage and would help cut 15 million tonnes of carbon emissions from the atmosphere, the petroleum minister said on Tuesday after meeting U.S. climate envoy John Kerry. Africa’s biggest economy, Nigeria is also the continent’s …
Nigerian minister says plan to commercialise gas flaring at advanced stage Read More »
