CAIRO (Reuters) – Egypt’s President Abdel Fattah al-Sisi has ratified the country’s budget for the 2022/23 financial year which began on July 1, state news agency MENA reported on Tuesday. (Reporting by Moataz Mohamed, Writing by Nadine Awadalla,; Editing by Louise Heavens)
By Elias Biryabarema KAMPALA (Reuters) – The Bank of Uganda said on Tuesday it had raised its key lending rate to 8.5% from 7.5% to help tame inflation that rose to 6.8% last month, a five-year high. The central bank announced the decision after a special sitting of its monetary policy committee (MPC), taking the …
Uganda central bank raises key rate to two-year high after special sitting Read More »
NAIROBI (Reuters) – Kenya’s private sector activity contracted in June for the third month in a row, reaching its lowest level since April 2021, due to rising prices and shortages of items used in manufacturing, a survey showed on Tuesday. The S&P Global Kenya Purchasing Managers’ Index (PMI) slid to 46.8 last month from May’s …
Kenya’s private sector activity sinks further in June -PMI Read More »
CAIRO (Reuters) – Egypt’s Suez Canal revenue hit a record high of $7 billion in the financial year to June 30, up 20.7% from the previous year, Canal Authority Chairman Osama Rabea said on Monday. A statement from the authority attributed the rise to an increase in vessel numbers and cargoes, with total cargoes reaching …
Egypt’s Suez Canal revenue hits $7 billion record peak Read More »
By Saliou Samb CONAKRY (Reuters) -Guinea’s mines minister has ordered all work related to the Simandou iron ore mine project to be halted after the two companies involved missed an extended deadline to agree on a joint venture, a letter seen by Reuters showed on Monday. Rio Tinto’s Guinea subsidiary Simfer SA and Chinese-backed consortium …
Guinea halts Simandou iron ore project, mulls talks with new partners Read More »
(Reuters) -South Africa’s rand was flat against the dollar on Monday, helped by a quiet trading session amid a holiday in the United States, while stocks rose on higher oil prices as worries over tight supply outweighed recession fears. At 1544 GMT, the rand traded at 16.3400 against the dollar, close to its previous close …
South African rand flat against the dollar, stocks rise on higher oil Read More »
DAR ES SALAAM (Reuters) – Tanzania said on Monday it had signed an agreement with a Turkish firm, Yapi Merkezi, to build a $900 million modern railway line as part of the country’s efforts to upgrade transportation links and boost trade with its neighbours. The 165-kilometer line which will connect two towns in northwest Tanzania …
Tanzania signs $900 million railway construction deal with Turkish firm Read More »
ACCRA (Reuters) – A delegation from the International Monetary Fund (IMF) is scheduled to arrive in Accra on Tuesday to start talks with Ghanaian government representatives over an economic support package, Ghana’s finance ministry said on Monday. Ghana, one of West Africa’s largest economies, had said on Friday it would hold formal talks with the …
Ghana to start talks with IMF on support package on Tuesday Read More »
By Duncan Miriri NAIROBI (Reuters) – Kenya on Monday opened the Nairobi International Financial Centre (NIFC), with a goal of attracting investment of more than $2 billion by 2030, and of setting up East Africa’s first carbon exchange. Singapore’s AirCarbon Exchange (ACX), which will develop the carbon exchange, said it will trade certified carbon offsets …
Kenya in deal to set up East Africa’s first carbon offset exchange Read More »
(Reuters) -South African fuel prices will jump again in July, the government said on Monday, as it will halve a temporary reduction in the general fuel levy. The Department of Mineral Resources and Energy said in a statement that the petrol pump price would increase by up to 2.57 rand ($0.1576) a litre and the …
