ABUJA (Reuters) – Shares of Airtel Africa <AIRTELAFRI.LG> rose 10% on Friday on the Nigerian Exchange to all-time high of 1,905 naira, Refinitiv data showed. Airtel Africa, the third biggest firm listed in Nigeria with a dual listing in London, rose in Lagos after the telecoms firm launched a payment service bank in Nigeria last …
BLANTYRE (Reuters) – Malawi’s maize output declined by 18.9% in the 2021/22 farming year due to a combination of factors like drought, tropical cyclones and inadequate supply of subsidized fertilizer, the agriculture ministry said on Friday. Production fell to 3.7 million metric tonnes from 4.6 million metric tonnes in the 2020/21 farming season, according to …
Drought, tropical cyclones cut Malawi maize output by 18.9% Read More »
By Rachel Savage LONDON (Reuters) – Central African Republic will start selling a cryptocurrency it says will be worth $21 million next week, it said on Friday, amid a wider rout in the industry and scepticism over the project’s feasibility in a poorly connected, war-torn country. The “Sango Coin”, described as a “national digital currency” …
Central African Republic launches ‘Sango Coin’ cryptocurrency amid industry rout Read More »
By MacDonald Dzirutwe LAGOS (Reuters) -Nigeria’s annual inflation quickened to its highest level in five and a half years in June, official data showed on Friday, driven by rising prices of staples like bread, rice and maize and the cost of diesel, which is used to generate power. The National Bureau of Statistics said inflation …
Nigeria’s consumer inflation at highest in more than five years Read More »
JOHANNESBURG (Reuters) – The South African government will within days announce new ways to address the country’s worst power crisis yet, President Cyril Ramaphosa said on Friday. Addressing a South African Communist Party (SACP) conference, Ramaphosa said the government needed to “use every available means and remove every regulatory obstacle to bring extra electricity onto …
South Africa to unveil solutions to power crisis within days Read More »
NAIROBI (Reuters) – Kenya’s shilling lost ground on Friday to touch a new all-time low due to increased dollar demand, especially from the oil companies, traders said. At 0736 GMT, commercial banks quoted the shilling at 118.20/30 per dollar, compared with Thursday’s close of 118.10/30. Earlier in the session, the shilling touched a new all-time …
Kenya’s shilling weakens on rising demand from oil companies Read More »
By David Lawder and Chris Gallagher WASHINGTON (Reuters) -The United States and Kenya on Thursday launched a strategic trade and investment partnership to pursue commitments to boost economic growth, support African regional economic integration and deepen trade cooperation. The U.S. and Kenyan governments will start work within three months to develop a road map for …
U.S., Kenya launch non-tariff trade and investment partnership talks Read More »
By David Lawder WASHINGTON (Reuters) -The International Monetary Fund on Thursday called on creditor committees for Chad, Ethiopia and Zambia to quickly reach agreements with authorities to restructure the countries’ debts, saying this could unlock IMF financing programs and disbursements for them. IMF spokesman Gerry Rice told a news briefing that the Fund has made …
IMF calls for quick creditor agreements on Chad, Ethiopia, Zambia debts Read More »
(Reuters) -South Africa’s rand fell on Thursday, as the dollar scaled new highs, driven by expectations that the U.S. Federal Reserve could hike interest rates later this month to combat soaring inflation. At 1603 GMT, the rand was 1.52% weaker at 17.1875 against the dollar. The dollar index, which measures the U.S. currency against six …
DUBAI (Reuters) – United Arab Emirates food and beverages group Agthia said on Thursday its board approved a proposed acquisition of 60% of Egyptian snacks company Abu Auf Holding worth 2.92 billion Egyptian pounds ($154.99 million). Agthia, majority owned by the Abu Dhabi government through state investor ADQ, has since late 2020 made a string …
UAE’s Agthia seeks to buy 60% stake in Egypt snacks firm Abu Auf Read More »
