Reuters Africa Business

(Reuters) – South Africa’s Royal Bafokeng Platinum Ltd reported a 58.1% fall in half-year profit on Tuesday, hurt by lower metal prices and higher mining costs. RBPlat’s headline earnings per share, the main profit measure in South Africa, fell to 7.67 rand ($0.4638), in the six months to June 30, from 18.32 rand. The company’s …

S.Africa’s RBPlat posts 58% fall in H1 profit on lower metal prices, soaring costs Read More »

JOHANNESBURG (Reuters) – The principle that the South African government will take on some of state power utility Eskom’s debt has been agreed, but there is no consensus over how much, the finance minister said on Monday. Eskom, which regularly implements electricity outages that choke economic growth, is saddled with around 400 billion rand ($24.32 …

S.Africa to take on Eskom debt, but unclear how much Read More »

By Libby George LAGOS (Reuters) – Dubai’s Emirates plans to reduce flights to Nigeria this month due to troubles repatriating revenue from Africa’s most populous nation, according to a letter sent to the government and seen by Reuters. Emirates plans to cut the number of flights to Lagos to seven from 11 by mid-August, the …

Emirates plans to reduce Nigeria service due to trapped revenue – letter Read More »

JOHANNESBURG (Reuters) – South African manufacturing activity contracted for the first time in a year in July, when the country experienced major power cuts that dented output, a surved showed on Monday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) fell to 47.6 points in July from 52.2 in June, falling below the 50-point mark that …

South African factory activity shrinks in July during power crisis – Absa PMI Read More »

By Camillus Eboh ABUJA (Reuters) – Nigeria’s central bank is concerned about the value of the naira and is making deliberate efforts to avert a further downward slide in the currency, it said on Friday. The naira has fallen to successive record lows on the parallel market due to dollar scarcity since July 2021, when …

Nigeria central bank says it is concerned about naira value Read More »

GABORONE (Reuters) – Sales of rough diamonds by Debswana Diamond Company jumped 54% in the first six months of 2022, Bank of Botswana statistics showed on Friday, driven by strong jewellery demand in the key U.S. market as well tight global rough diamond supply. Debswana, a joint venture between Anglo American unit De Beers and …

Botswana’s Debswana diamond sales jump 54% in first half of 2022 Read More »