Reuters Africa Business

By Ahmed Eljechtimi RABAT (Reuters) – Nigeria’s Sovereign Investment Authority (NSIA) is seeking to take over underperforming government assets, including a power plant, as it transitions into an asset management firm, CEO Uche Orji said on Monday. “We are looking at many industrial projects and government-owned enterprises that are either moribund or not performing sub-optimally,” …

Nigeria’s sovereign fund to pivot to asset management, CEO says Read More »

CAIRO/HOUSTON (Reuters) – Egypt’s state-owned gas company and U.S.-based Chevron Corp on Monday signed a preliminary agreement to explore sending natural gas from offshore Mediterranean fields to Egypt for processing and export. The memorandum of understanding signed by Egyptian Natural Gas Holding Company (EGAS) and Chevron will consider transport, import, liquefication and export of natural …

Egypt and Chevron agree to explore new East Med gas deal Read More »

By Khalid Abdelaziz and Mohamed Nureldin Abdalla Khartoum (Reuters) – An accelerated breakdown in services including water and electricity supplies has left Sudanese citizens counting the cost of political stalemate after a military takeover last October. The slide in living conditions comes after the coup triggered the suspension of billions of dollars in international funding, …

Sudan’s economy sinks as post-coup leadership searches for support Read More »

DAKAR (Reuters) – Mali has failed to pay 25 billion CFA francs ($39.74 million) in principal on a treasury bond that was due June 16, the West African debt agency Umoa-Titres said on Monday. Mali is under sanctions by the West African regional bloc ECOWAS following two coups. ($1 = 629.1100 CFA francs) (Reporting by …

Mali misses $40 million treasury bond payment – debt agency Read More »

(Reuters) – South African state power utility Eskom said it would implement “Stage 2” rotational power cuts between 1700 and 2200 local time (1500 and 2000 GMT) on Monday and every evening till Thursday night at the same time due to a shortage of generation capacity. Economic growth in Africa’s most industrialised nation has been …

South Africa’s Eskom to implement evening power cuts till Thursday Read More »

(Reuters) – Fertilizer manufacturer Omnia Holdings says African governments are increasing support for smallholder farmers amid fears that input costs, driven higher after Russia’s invasion of Ukraine, could cut crop production and worsen food insecurity. Omnia supplies fertilizer to both commercial and smallholder farmers in several sub-Saharan African countries, including South Africa, Zimbabwe, Zambia, Mozambique, …

Omnia sees Africa increasing farm input support amid food security fears Read More »

By Alexander Cornwell DOHA (Reuters) – Nigeria is withholding $450 million in revenue international carriers operating in the country have earned, an executive at the world’s largest airlines association said on Sunday. Africa’s largest economy has restricted access to foreign currency for imports and for investors seeking to repatriate their profits as the nation tackles …

Nigeria blocking repatriation of $450 million foreign airline revenue, IATA says Read More »