LONDON (Reuters) – Nigeria’s Bonga crude oil stream is due to load 31,000 barrels per day (bpd) in October, down from 95,000 bpd the previous month, according to a preliminary export programme seen by traders. The single cargo from the stream compares with four cargoes of Nigeria’s Qua Iboe crude oil set to be exported …
Exports of Nigeria’s Bonga crude to fall in October -traders Read More »
PARIS (Reuters) -A group of creditor nations on Wednesday recommitted to granting cash-strapped Ethiopia debt relief in the face of glacial progress. Ethiopia requested debt relief from its creditor governments in early 2021 under a new G20 framework for debt restructurings, but progress has been complicated by a 21-month civil war that began in the …
Ethiopia’s public creditors recommit to debt relief Read More »
JOHANNESBURG (Reuters) – South Africa’s headline consumer inflation quickened to 7.8% year on year in July from 7.4% in June, data from Statistics South Africa showed on Wednesday. On a month-on-month basis, consumer inflation was at 1.5% in July from 1.1% in the previous month. Core inflation, which excludes prices of food, non-alcoholic beverages, fuel …
South Africa’s consumer inflation quickens to 7.8% y/y in July Read More »
(Reuters) -Kenya Airways said on Wednesday that its pretax loss narrowed by 15% in the first half of the year helped by higher passenger and cargo revenue as borders reopened with an easing of COVID-19 restrictions. The airline reported a pretax loss of 9.861 billion shillings ($82.35 million) versus a loss of 11.542 billion a …
Kenya Airways first-half loss narrows 15% as borders reopen Read More »
(Reuters) – South Africa’s DRDGold on Wednesday reported a 22% fall in profit for the year ended June 30 mainly due to surging costs. DRDGold’s headline earnings per share (HEPS), South African companies’ main profit measure, fell to 1.307 rand ($0.0767) from 1.684 rand. Production totalled 183,902 ounces, little changed from 183,999 ounces a year …
S.Africa’s DRDGold reports 22% profit fall as costs rise Read More »
(Reuters) – Alphabet Inc launched Google Wallet in South Africa on Tuesday, as the tech giant tries to gain a foothold in the country’s rapidly growing digital payments space. The COVID-19 pandemic has accelerated the shift to digital transactions and people increasingly prefer making contactless payments via their smart devices. High smartphone penetration has also …
Google Wallet launches in South Africa as digital payments boom Read More »
(Reuters) -South Africa’s rand firmed on Tuesday after data showed that the country’s unemployment rate slightly improved in the second quarter. At 1643 GMT, the rand traded at 16.9700 against the dollar, 0.15% stronger than its previous close. South Africa’s official unemployment rate edged lower to 33.9% in the second quarter of 2022 from 34.5% …
South African rand firms against dollar after unemployment data Read More »
By Ayenat Mersie NAIROBI (Reuters) -Equity Group Holdings, Kenya’s largest lender by customers, said on Tuesday its first-half pretax profit rose by close to a third helped by an expansion in interest income and trade financing. The bank, which also operates in Uganda, Tanzania, Rwanda, Burundi, South Sudan and Democratic Republic of Congo, also outlined …
Kenya’s Equity H1 pre-tax profit up 30% on interest income, trade finance Read More »
LONDON (Reuters) – Zambia’s Eurobond holders have registered their “displeasure” at not being included in official sector debt restructuring discussions, a finance ministry official said on Tuesday, adding that they “feel like they are left behind”. Zambia’s bilateral government creditors pledged in July to negotiate a restructuring, clearing the way for a potential $1.4 billion …
Zambia’s bond holders feel “left behind” in debt talks – Finance Minister official Read More »
LONDON (Reuters) – There needs to more progress on debt relief for poorer countries, the co-chair of the Paris Club group of creditor nations said on Tuesday, amid criticisms of the slow speed of restructuring processes for Zambia, Chad and Ethiopia. Bilateral lenders were “learning to work more efficiently”, William Roos, a French Treasury official, …
Paris Club co-chair: We need to show more progress on debt restructuring Read More »
