Reuters Africa Business Archives - Page 827 of 921

Kenya bonds tumble as deputy pres Ruto declared winner by election commission chair

15 Aug 2022 15 Aug 2022

LONDON (Reuters) -Kenya’s dollar-denominated government bonds fell on Monday after Deputy President William Ruto was declared the winner of the country’s presidential election by the chairman of the election commission. The bonds had already fallen after a number of top election officials disowned the presidential vote results before they were officially confirmed and scuffles broke …

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S.African coal miner Seriti plans 450 MW Mpumalanga wind farm

15 Aug 2022 15 Aug 2022

(Reuters) -South African coal producer Seriti Resources on Monday said it planned to invest $730 million in building a 450 megawatt wind farm in Mpumalanga to kickstart a foray into renewable energy following its proposed acquisition of Windlab Africa. Privately-owned Seriti, a major coal supplier to South Africa’s state power utility Eskom, plans to buy …

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Exit from Egyptian treasury bills extends through May – central bank

15 Aug 2022 15 Aug 2022

CAIRO (Reuters) – A foreign exodus from Egyptian treasury bills continued into May, Central Bank of Egypt (CBE) data showed on Monday, after the Ukraine crisis and concerns about U.S. interest rate hikes prompted foreign investors to cash out their holdings. T-bills held by foreign customers dropped in the month by 30 billion Egyptian pounds, …

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Nigeria’s annual inflation rises to highest level since 2005

15 Aug 2022 15 Aug 2022

By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s annual inflation quickened in July to its highest level since 2005, official data showed on Monday, driven by price rises for food, fuel and clothing. The National Bureau of Statistics (NBS) said inflation rose for the sixth straight month, hitting 19.64% from 18.60% year on year in June. NBS …

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S.African lender Absa posts 30% rise in interim profit

15 Aug 2022 15 Aug 2022

JOHANNESBURG (Reuters) -South African lender Absa Group said on Monday its profit for the half year that ended June 30 rose 29.8%, announcing a more than doubling of dividend to 650 cents per share. Its headline earnings per share, its profit measure, came at 1280.2 cents ($0.7888), from 986.2 cents posted a year ago. South …

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Kenyan shilling flat as traders await election result

15 Aug 2022 15 Aug 2022

NAIROBI (Reuters) – Kenya’s shilling was unmoved in thin trade on Monday as traders awaited the result of the Aug. 9 presidential election. An announcement from electoral authorities on the winner appeared imminent in the tight contest between Kenya’s Deputy President William Ruto and opposition leader Raila Odinga. At 0916 GMT, commercial banks quoted the …

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Egypt’s foreign currency gap narrows to $400 million in July – cenbank official

13 Aug 2022 13 Aug 2022

CAIRO (Reuters) – Egypt’s foreign currency gap narrowed to $400 mln last month from $3.9 bln in February, deputy governor of the Central Bank of Egypt Gamal Negm said on Saturday. Egypt has seen billions of dollars leave its markets since the Russian invasion of Ukraine in February as investors have fled emerging markets for …

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First Africa-bound grain ship arrives in Ukrainian port

13 Aug 2022 13 Aug 2022

KYIV (Reuters) – The first Africa-bound grain ship since Russia’s invasion of Ukraine in February docked in Pivdennyi port on Friday, Ukraine’s infrastructure minister said. “The cargo ship Brave Commander arrived at the Pivdennyi Sea Port. Very soon (Ukrainian) grain will be delivered to Ethiopia,” Infrastructure Minister Oleksandr Kubrakov wrote on Twitter. Once loaded, the …

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South African rand edges lower after strong week

12 Aug 2022 12 Aug 2022

JOHANNESBURG (Reuters) -The South African rand edged lower late on Friday, after a strong week in which it was bolstered by traders looking for signs of U.S. inflation peaking. Markets interpreted U.S. inflation figures this week as indicating the Federal Reserve could be less aggressive in its interest rate hikes, weakening the dollar and boosting …

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Pearson to sell S.African courseware business to Novus for $64 million

12 Aug 2022 12 Aug 2022

(Reuters) – Education group Pearson said on Friday it will sell 75% of its South African courseware publishing business to print production firm Novus Holdings for 53 million pounds ($64.30 million). The company said the sale concludes the strategic review of its International Courseware local publishing businesses, whose disposal will have a 15 million-20 million …

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