CAIRO (Reuters) -Egypt’s annual urban consumer inflation slowed to 13.2% year-on-year in June from 13.5% in May, data from the state statistics agency CAPMAS showed on Thursday. Month on month, headline inflation eased 0.1%, compared to a 1.1% increase in May. The sharpest annual price increases were in the food and drink, recreation, and restaurant …
Egypt’s headline inflation eases slightly to 13.2% in June Read More »
ABUJA (Reuters) – Nigeria’s naira hit a record low of 617 against the dollar on the black market, where it is freely traded, traders said on Thursday. “In the near term, we expect further depreciation given increased dollar demand in a tight FX market,” Ikenga Kalu of African currency broker AZA wrote in a note. …
Nigeria naira at record low on black market, forwards ease Read More »
By Patrick Werr EAST PORT SAID, Egypt (Reuters) – Once known as a graveyard for tanks, an Egyptian mudflat east of the Suez Canal is being reclaimed for what its backers hope will be a vast industrial zone producing goods for export and the domestic market. The East Port Said Industrial Zone sits on the …
Egypt reclaims Suez Canal mudflat for industrial hub Read More »
NAIROBI (Reuters) – Kenya’s shilling was unchanged on Thursday, as hard currency appetite flagged and some offshore investors sought local currency to buy equities, traders said. At 0937 GMT, commercial banks quoted the shilling at 118.00/20 per dollar, the same as Wednesday’s close. The shilling touched a new all-time low of 118.10/118.30, Refinitiv data showed. …
Kenyan shilling unchanged amid flagging hard currency appetite Read More »
ALGIERS (Reuters) – Algeria has signed a three-year contract with French firm Engie to deliver gas with a new price, a statement from state-owned Sonatrach said on Thursday. Algeria is reviewing gas prices for all its clients to cope with rises in international markets. (Reporting by Lamine Chiki and Lilian Wagdy; editing by Jason Neely)
ABUJA (Reuters) – Crude oil theft in Nigeria poses an existential threat to the country’s oil industry, the local head of Shell told an energy conference on Wednesday, adding this has resulted in the shutdown of two of its major pipelines. Osagie Okunbor, managing director and country chair for Shell Petroleum Development Company of Nigeria …
Shell Nigeria says crude oil theft an existential threat to industry Read More »
By Rachel Savage LONDON (Reuters) – An IMF programme that boosts Ghana’s liquidity and access to funding could help improve the West African country’s credit rating, a senior officer with ratings agency Moody’s said on Wednesday. “If it changes the dynamic of the budget then, yes, we said that could be upward pressure on the …
Ghana’s credit ratings could improve if IMF plan boosts liquidity, says Moody’s Read More »
(Reuters) – South Africa’s net reserves fell to $53.813 billion in June from $54.431 billion in May, the Reserve Bank said on Thursday. Gross reserves also fell, to $58.923 billion in June from $59.258 billion in May. The forward position, which represents the central bank’s unsettled or swap transactions, dropped to $2.383 billion from $2.836 …
South Africa’s net reserves fall to $53.813 billion in June Read More »
ADDIS ABABA (Reuters) – Safaricom Ethiopia, a unit of Kenyan telecoms operator Safaricom, will start the phased launch of its network from next month, its chief executive said on Thursday. “We will start with Dire Dawa and switch on the network in another 24 cities across the country by April 2023,” Anwar Soussa wrote on …
Safaricom Ethiopia to start phased network launch next month Read More »
ADDIS ABABA (Reuters) – Safaricom Ethiopia, a unit of Kenyan telecoms operator Safaricom, will start the phased launch of its network from next month, its chief executive said on Thursday. “We will start with Dire Dawa and switch on the network in another 24 cities across the country by April 2023,” Anwar Soussa wrote on …
Safaricom Ethiopia to start phased network launch next month Read More »
