By Chris Mfula LUSAKA (Reuters) -The Zambian government expects its economy to grow at 4% per year in the medium term and is focused on resolving the country’s debt crisis, President Hakainde Hichilema said on Friday. According to the Bank of Zambia, the economy grew 3.6% in 2021 after a 2.8% contraction in 2020, when …
Zambia expects economy to grow 4% in medium-term, president says Read More »
By Libby George LAGOS (Reuters) – Nigeria’s crude oil production fell below 1 million barrels per day (bpd) in August, figures from its regulator show, as the nation grappled with rampant theft from its pipelines and years of underinvestment. The decline is a further threat to strained finances in Africa’s most populous nation and cuts …
Nigeria’s oil output at 32-year low as thieves hobble output Read More »
NAIROBI (Reuters) – Kenya’s tourism earnings more than doubled to 167.1 billion shillings ($1 billion) in January to August from 83 billion shillings in the same period a year ago, Tourism and Wildlife Minister Najib Balala said on Friday. Balala said in a statement the earnings were as a result of a 91% rise in …
Kenya tourism earnings double in Jan-Aug this year as arrivals soar Read More »
JOHANNESBURG (Reuters) – South Africa’s MTN has raised 2.5 billion rand ($145 million) in three bonds as a way of lengthening its debt maturity profile, the mobile operator said on Friday. In an auction held on Tuesday, MTN issued 540 million rand, 1.04 billion rand and 984 million rand respectively in three, five and seven-year …
South Africa’s MTN taps bond market for $145 million Read More »
(Reuters) -South Africa’s rand weakened on Thursday, as the U.S. dollar rose after Federal Reserve Chair Jerome Powell reiterated a hawkish tone to battling inflation. At 1609 GMT, the rand traded at 17.5225 against the dollar, 1.59% weaker than its previous close. The dollar index, which measures the currency against six rivals, was up 0.346% …
South African rand weakens as dollar strengthens; stocks rise Read More »
CAIRO (Reuters) – Crédit Agricole has bought a majority stake in its Egyptian subsidiary Crédit Agricole Egypt, the Egyptian bank said on Thursday. The French bank bought 60 million additional shares, increasing its total shareholding in the Egyptian bank to 52.185% from 47.385%. The bank did not disclose the price. “This bears witness to the …
Credit Agricole takes majority stake in Egypt subsidiary Read More »
JOHANNESBURG (Reuters) – South Africa’s manufacturing output rose 3.7% year on year in July after falling by a revised 3.4% in June, statistics agency data showed on Thursday. Factory production dropped 0.2% month on month in July. Analysts had predicted a 4% rise in manufacturing output in annual terms in July and a 0.7% month-on-month …
South African factory output up 3.7% y/y in July Read More »
(Reuters) – South Africa’s current account balance dipped to a deficit of 1.3% of gross domestic product (GDP) in the second quarter from a surplus of 2.4% of GDP in the first quarter, central bank data showed on Thursday. In rand terms, the current account balance for the April-June period recorded a deficit of 87 …
South Africa records current account deficit in second quarter Read More »
(Reuters) – South Africa’s Anglo American Platinum on Thursday revised down its forecast for refined production in 2022 as it expects a two-month delay in completing its Polokwane smelter rebuild. Amplats, the world’s number one producer of platinum group metals (PGM), said it expected refined output to be 3.7 million to 3.9 million PGM ounces, …
S.Africa’s Amplats lowers output forecast amid smelter rebuild delay Read More »
(Reuters) – South Africa’s consumer confidence improved in the third quarter, a survey showed on Thursday, but consumer sentiment remained “extremely depressed” amid rising inflationary pressures. The consumer confidence index (CCI), sponsored by First National Bank (FNB) and compiled by the Bureau for Economic Research (BER), rose to minus 20 points from minus 25 points …
South Africa consumer confidence improves in third quarter Read More »
