Reuters Africa Business

By Emilio Parodi MILAN (Reuters) -Italian prosecutors on Tuesday dropped criminal proceedings over a $1.3 billion Nigerian oilfield deal, clearing energy majors Eni and Shell, as well as managers including Eni Chief Executive Claudio Descalzi. Attorney General Celestina Gravina signalled the prosecution did not plan to pursue the case at the start of an appeal …

Italy prosecutors abandon $1.3 billion Eni Nigeria graft appeal Read More »

ABUJA (Reuters) -Nigeria’s central bank raised its benchmark lending rate to 14.0% from 13.0% on Tuesday to tame soaring inflation, and warned of further tightening if prices continued rising. Governor Godwin Emefiele said a previous 150 basis points rate increase in May had not permeated enough in the economy to halt rising inflation, which came …

Nigeria’s central bank raises rates again to tame inflation “scourge” Read More »

(Reuters) – Petra Diamonds on Tuesday reported a 44% jump in full-year revenue to $585.2 million, driven by higher gem prices, an increase in exceptional stones and record jewellery demand in the United States. The company, which operates three mines in South Africa and one in Tanzania, sold 11% fewer diamonds in the year ended …

Petra Diamonds annual revenue up 44% on U.S. demand for gems Read More »

TUNIS (Reuters) – Revenues at Tunisia’s national carrier Tunisair jumped by 177% in the first half of this year to 512 million dinars ($161 million), the company said on Monday. The state-owned group said passenger numbers rose to 937,000 from 339,000 in the first half of 2021. (Reporting by Tarek Amara; Editing by Jan Harvey)

By David Lawder WASHINGTON (Reuters) – The International Monetary Fund on Monday said its executive board approved a $1.04 billion, 40-month Extended Credit Facility loan arrangement for Tanzania, with an immediate disbursement of about $151.7 million. The IMF said in a statement that the financing package would assist Tanzania’s economic recovery, address spillovers from Russia’s …

IMF says board approves $1.04 billion loan deal for Tanzania Read More »

By David Lawder WASHINGTON (Reuters) – The International Monetary Fund said its executive board approved a $235.6 million disbursement to Kenya on Monday as it approved a third review of the country’s Extended Credit Facility and Extended Fund Facility arrangements. The disbursement is usable for budget support and brings such payouts to $1.208 billion under …

IMF approves $235.6 million disbursement to Kenya on loan review Read More »

ALGIERS (Reuters) -Algeria will supply “very big volumes of gas” to Italy through a $4 billion deal, President Abdulmadjid Tebboune said on Monday, hailing a “strategic partnership” with Rome during a visit by Italian Prime Minister Mario Draghi. An official Algerian source said last week that state energy company Sonatrach would increase gas supplies to …

Algeria to ink $4 billion Italy gas supply deal Read More »

JOHANNESBURG (Reuters) – Chinese-led Winning Consortium Simandou (WCS) has put workers on forced leave with the prospect of layoffs if a dispute with Guinea’s government over infrastructure for a massive iron project is not resolved, three sources told Reuters. WCS did not immediately reply to a request for comment. Guinea’s mines minister on July 3 …

Chinese consortium puts workers on forced leave after Guinea halts Simandou Read More »