Reuters Africa Business

JOHANNESBURG (Reuters) – South Africa’s largest property owner Growthpoint Properties said on Wednesday its full-year distributable income rose by 5.1%, on lower vacancies and rental discounts. Growthpoint said its distributable income per share, the primary measure of underlying financial performance in the listed property sector, rose to 155.6 cents in the year ended June from …

South Africa’s Growthpoint boosted by lower vacancies and rental discounts Read More »

By Bate Felix DAKAR (Reuters) – The newly appointed chief executive officer (CEO) of pan-African bank Ecobank Jeremy Awori will focus on increasing the bank’s profitability, reducing costs and pursuing the bank’s stabilisation in Nigeria, its largest single market. Ecobank, which operates in 33 African countries, appointed the outgoing CEO and managing director of Absa …

New Ecobank CEO to pursue stabilisation and profits, says group chairman Read More »

JOHANNESBURG (Reuters) – South African government plans to end recurring power cuts could take at least a year to deliver results, a top executive at struggling utility Eskom said on Monday. Africa’s most industrialised economy is set for its worst year of electricity outages, despite President Cyril Ramaphosa pledging new moves to tackle the crisis …

South Africa could take a year or more to end power cuts -Eskom official Read More »

By Ange Aboa ABIDJAN (Reuters) – Ivory Coast has starting selling cocoa contracts for the 2023/24 season with a non-negative premium for the first time in three years, industry sources said on Monday, as the regulator seeks to support farmers. The country’s regulator, the Coffee and Cocoa Council (CCC), sold 25,000 tonnes in cocoa export …

Ivory Coast sells 2023/24 cocoa contracts with higher premium Read More »

NAIROBI (Reuters) – Ethiopia’s inflation decreased to 32.5% year-on-year in August from 33.5% a month earlier, data from the country’s statistics office showed on Monday. Overall month-on-month inflation fell to 2.9% from 3.1% in July. (Reporting by George Obulutsa; Editing by James Macharia Chege)