NAIROBI (Reuters) – Kenya’s consumer inflation rose to 7.9% year-on-year in June, up from 7.1% a month earlier, the statistics office said on Thursday. On a monthly basis, inflation was 0.9% compared with 0.8% in May, the Kenya National Bureau of Statistics said in a statement. (Reporting by Hereward Holland; Editing by James Macharia Chege)
(Reuters) -South African state power utility Eskom said it will continue the worst power cuts the country has seen in more than two years later on Thursday and Friday. Blaming the latest outages on striking workers, the state electricity company said it found it difficult to conduct maintenance work and was unable to return some …
S.Africa’s Eskom extends worst power cuts seen in over two years Read More »
JOHANNESBURG (Reuters) – South African lender Absa Group said on Thursday it was making a raft of changes to its top management position to refocus its strategy towards being more customer centric, sustainable and aid expansion outside of the country. Absa has been trying to improve its performance since splitting from its former British parent …
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(Reuters) – Private sector credit in South Africa rose by 5.34% year on year in May after rising by a revised 5.87% in April, central bank data showed on Thursday. The broadly defined M3 measure of money supply increased by 7.29% in May after expanding by a revised 7.49% in the previous month. (Reporting by …
South Africa’s private sector credit up 5.34% y/y in May Read More »
WASHINGTON (Reuters) – The International Monetary Fund said on Wednesday its executive board had approved a $52.6 million disbursement for Niger under a three-year extended credit facility arrangement. The IMF in December approved a $276 million loan deal for the African country, meant to help it recover from the effects of the COVID-19 pandemic. (Reporting …
IMF board approves $53 million loan disbursement for Niger Read More »
TUNIS (Reuters) – Tunisia is using its strategic safety stock of petroleum products to meet local demand, as the Ukrainian crisis weighs heavily on the country’s cash flow, TAP state news agency quoted an official at the energy ministry as saying on Wednesday. Tunisia’s public finances, which officials say is facing its worst crisis, recorded …
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By Marwa Rashad and Isla Binnie LONDON (Reuters) – Algeria’s state oil and gas producer Sonatrach is negotiating ways to benefit from significant global gas price rises in its long-term contracts with European buyers, two sources familiar with the matter told Reuters. Sonatrach is considering several options, including a partial link to spot price gas …
WASHINGTON (Reuters) – The International Monetary Fund said on Wednesday its staff had reached an agreement with Cameroon on the second review of its loan programs that could lead to the disbursement of $73.6 million if approved by the Fund’s Executive Board. The Fund said Cameroon’s economic outlook remains positive, with growth of 3.8% expected …
IMF reaches staff agreement with Cameroon that could unlock $73.6 million Read More »
(Reuters) – South Africa will start auctioning a new floating rate note next week, the National Treasury said on Wednesday, as part of efforts to expand its offering of debt instruments. The Treasury said in a statement that the first auction would be conducted as an open tender without a pre-announced amount on July 6. …
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(Reuters) -The South African rand fell against the dollar on Wednesday after struggling state electricity company Eskom warned that the power system would remain constrained and vulnerable to additional breakdowns. At 1610 GMT, the rand traded at 16.2625 against the dollar, 1.07% weaker than its previous close. The safe-haven dollar index ticked up around 0.4% …
South African rand weaker on severe power cuts, recession worries Read More »
