Reuters Africa Business

By Helen Reid JOHANNESBURG (Reuters) – Russia, supported by Belarus, Central African Republic, Kyrgyzstan and Mali, has torpedoed a Western-backed proposal to discuss whether its diamonds are funding war ahead of an international conflict diamond meeting in Botswana, letters seen by Reuters show. The rift in the Kimberley Process (KP), which certifies rough diamond exports, …

Top producer Russia thwarts move to redefine ‘conflict diamonds’ Read More »

(Reuters) – Nigeria’s real GDP growth is broadening to all sectors except oil but inflation remains elevated, the International Monetary Fund said on Thursday after a team held meetings with the Nigerian authorities last week. The IMF described the economic outlook for Africa’s most populous nation and top oil producer as challenging, with high food …

IMF sees Nigeria GDP growing 3.4% in 2022, inflation staying high Read More »

By Chris Mfula LUSAKA (Reuters) – Zambia’s finance minister said on Wednesday its major creditors were willing to discuss debt restructuring, part of efforts to draw a line under a debt crisis that spurred Africa’s first pandemic-era default. The southern African copper producer defaulted in November 2020, when an economic downturn triggered by COVID-19 lockdowns …

Zambia says major creditors willing to discuss restructuring Read More »

(Reuters) – South Africa’s energy minister on Wednesday said the country should consider importing crude oil from Russia as part of efforts to curb rising fuel prices, which have soared since the beginning of the war in Ukraine. “We should consider importing crude oil from Russia at a low price because it is not sanctioned,” …

South Africa should consider Russian crude imports, minister says Read More »

ABIDJAN (Reuters) – Multilateral and bilateral lenders on Wednesday made a series of pledges to support Ivory Coast’s 2021-25 Development Plan totalling $26.1 billion, Prime Minister Patrick Achi said. The West Africa Development Bank pledged 1 billion euros, the African Development Bank $4.3 billion, the World Bank $8.7 billion and the Islamic Development Bank $2 …

Lenders pledge $26.1 billion to Ivory Coast 2021-25 plan Read More »