By Felix Onuah ABUJA (Reuters) – Nigeria’s government is considering suspending mining in the country because it is being used to finance attacks that have increased insecurity, the justice minister said on Thursday. An Islamist insurgency in the northeast that has festered for more than a decade and rising kidnappings for ransom by armed gangs …
Nigeria considers suspending mining to tackle insecurity Read More »
CAIRO (Reuters) – The World Bank has agreed to provide the U.N.’s World Food Programme with $100 million for an “emergency safety net project” to address food insecurity in Sudan, it said in a statement on Thursday. The programme, whose funding comes from the European Union, United Kingdom, Saudi Arabia and several other Western nations, …
World Bank to fund $100 million in food insecurity aid to Sudan through WFP Read More »
ABUJA (Reuters) – Nigeria could spend up to 6.72 trillion naira ($16.2 billion) next year if it keeps a fuel subsidy in place, Finance Minister Zainab Ahmed said on Thursday, a nearly 70% jump from this year’s budget. In April, Nigeria’s parliament approved a 4 trillion naira petrol subsidy for this year after President Muhammadu …
Nigeria petrol subsidy seen nearly 70% higher at $16.2 billion next year Read More »
By Ahmed Eljechtimi MARRAKECH, Morocco (Reuters) – Morocco is negotiating with electric vehicle battery manufacturers to set up a plant in the country to mesh with its existing automotive sector and cobalt output, Industry Minister Ryad Mezzour said on Thursday. “We hope to sign a deal for the plant before the end of this year,” …
Morocco plans to set up EV battery ‘gigafactory’ -minister Read More »
By Noah Browning, Ron Bousso and Wendell Roelf BRUSSELS/LONDON/CAPE TOWN (Reuters) – Europe’s thirst for oil and gas to replace sanctioned Russian supply is reviving interest in African energy projects that were shunned due to costs and climate change concerns, industry executives and African officials said. Energy firms are considering projects worth a total of …
Analysis-Ukraine war rekindles Europe’s demand for African oil and gas Read More »
(Reuters) -South Africa’s rand gained against the dollar on Thursday after the central bank hiked its main lending rate by 75 basis points to 5.50%, its biggest rise in nearly two decades, to tame soaring inflation. At 1540 GMT, the rand traded at 17.0575 against the dollar, 0.55% stronger than its previous close. This was …
S.African rand gains as central bank delivers biggest rate hike since 2002 Read More »
JOHANNESBURG (Reuters) -South Africa’s central bank delivered its biggest interest rate hike in two decades on Thursday to try to curb inflation, which surged to a 13-year high in June despite four previous hikes. Governor Lesetja Kganyago said the South African Reserve Bank (SARB) was determined to act on rising inflation and was cognisant of …
S.Africa gets biggest rate hike in two decades as inflation soars Read More »
ABUJA (Reuters) – The Nigerian Civil Aviation Authority said on Thursday it has suspended the operations of Dana Airlines with immediate effect, citing the outcome of an audit of the carrier. The aviation regulatory body said the suspension was necessary because “Dana Airlines is no longer in a position to meet its financial obligations and …
Nigerian aviation authority suspends Dana Airline after audit Read More »
By Chris Mfula LUSAKA (Reuters) -Zambia’s government is anxiously awaiting an official debt relief commitment from its bilateral creditors, Finance Minister Situmbeko Musokotwane said on Thursday, as the country seeks to restructure its debts after defaulting in 2020. Musokotwane said Zambia, which has been seeking relief from creditors since it reached a $1.4 billion staff-level …
Zambia waiting anxiously for debt relief commitments -finance minister Read More »
By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s naira hit a new low of 643 against the dollar in volatile black market trade on Thursday, currency dealers said, citing dollar scarcity while import demand for wheat, fuel and diesel, was rising. “Against this backdrop and amid higher dollar demand and ongoing FX (foreign exchange) supply constraints, we …
Nigerian naira hits record low in volatile black market trade Read More »
