Reuters Africa Business Archives - Page 832 of 921

Consortium to buy S.Africa hospitals firm Mediclinic for $4.49 billion

4 Aug 2022 4 Aug 2022

(Reuters) – South Africa’s Remgro Ltd said on Thursday it will buy hospital chain operator Mediclinic International in a consortium with Switzerland’s MSC Mediterranean Shipping for 3.7 billion pounds ($4.49 billion). The offer, which was the consortium’s fourth after the earlier ones were rejected by Mediclinic’s board, values the company at 6.1 billion pounds ($7.41 …

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MTN Uganda first-half pretax profit up 32%

4 Aug 2022 4 Aug 2022

By Elias Biryabarema KAMPALA (Reuters) – MTN Uganda said on Thursday its first-half pretax profit jumped 32.4% from the same period last year, lifted by strong data and financial technology services sales. The firm, a unit of South African telecoms giant MTN Group, is Uganda’s largest telecommunications firm by subscribers. In the six months to …

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South Sudan government spending to grow fivefold, finance minister says

4 Aug 2022 4 Aug 2022

JUBA (Reuters) – South Sudan’s government expects to spend almost five times more in 2022/23 than it did the previous year, its finance minister said on Wednesday. South Sudan’s economy is still affected by the impact of past years of conflict as well the COVID-19 pandemic and the war in Ukraine. Finance Minister Agak Achuil …

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Morocco’s trade deficit swells 48.7% in H1 as energy imports soar

3 Aug 2022 3 Aug 2022

(Corrects headline of Monday Aug 1 story to say H1 instead of Q1) RABAT (Reuters) -Morocco’s trade deficit widened 48.7% to 150.5 billion dirhams ($14.6 billion) in the first six months of this year, as global commodities prices surged, the foreign exchange regulator said on Monday. Imports rose 44.2% from a year earlier to 365.5 …

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South African rand dips as dollar gains on U.S. service sector data

3 Aug 2022 3 Aug 2022

JOHANNESBURG (Reuters) -The South African rand gave up gains on Wednesday after the dollar recovered on a surprise pick up in the U.S. service sector in July, supporting views that the U.S. economy was not in recession. The Institute for Supply Management said its non-manufacturing PMI rebounded to a reading of 56.7 last month from …

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Kenya private sector activity shrinks for fourth straight month in July -PMI

3 Aug 2022 3 Aug 2022

NAIROBI (Reuters) – Kenyan private sector activity contracted in July for the fourth month in a row as the impact of rising inflation and caution ahead of elections later in August dampened business, a survey showed on Wednesday. The S&P Global Kenya Purchasing Managers’ Index (PMI) fell to 46.3 in July from 46.8 a month …

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S.Africa business activity picks up for third straight month in July – PMI

3 Aug 2022 3 Aug 2022

JOHANNESBURG (Reuters) – South African private sector activity growth sped up for the third straight month in July on improving new orders, output and employment numbers, a survey showed on Wednesday. The S&P Global South Africa Purchasing Managers’ Index (PMI) rose to a 14-month high of 52.7 in July, up slightly from 52.5 in June. …

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South African rand’s recovery fizzles out on U.S.-China tensions

2 Aug 2022 2 Aug 2022

JOHANNESBURG (Reuters) -A recovery in the South African rand fizzled out on Tuesday, as the global market mood deteriorated over U.S. House of Representatives Speaker Nancy Pelosi’s visit to Taiwan. Pelosi arrived on the island late on Tuesday, drawing an immediate backlash from China, which claims self-ruled Taiwan as its own. At 1532 GMT, the …

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Shares in South Africa’s Massmart drop after retailer warns of wider H1 loss

2 Aug 2022 2 Aug 2022

JOHANNESBURG (Reuters) – Massmart shares fell 6.34% after the South African retailer flagged a wider loss of up to 921.5 million rand ($55.75 million) in the first half as surging prices for food and fuel prompted customers to cut back on discretionary purchases. Massmart, majority-owned by U.S Walmart Inc, said it expects the headline loss …

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Nigeria adds 10.5 million new voters ahead of election next year

2 Aug 2022 2 Aug 2022

ABUJA (Reuters) – Nigeria has added more than 10 million new voters to its election register, most of them youths, ahead of a presidential vote next February, the electoral agency said on Monday. Voters in Nigeria will pick a new president to succeed Muhammadu Buhari, who cannot run after serving the two terms allowed by …

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