By Chijioke Ohuocha ABUJA (Reuters) -Nigerian annual inflation climbed in May to 17.71%, rising for the fourth straight month in Africa’s biggest economy, driven by both food and non-food prices, the statistics office said on Wednesday. Inflation, which has been in double digits since 2016, picked up from 16.82% in April, the National Bureau of …
Nigerian inflation rose for 4th straight month in May Read More »
JOHANNESBURG (Reuters) – South Africa’s retail sales rose 3.4% year on year in April after rising by a revised 1.7% in March, Statistics South Africa figures showed on Wednesday. On a month-on-month basis, sales fell 0.2%. Sales were up 1.4% in the three months to the end of April compared with the same period last …
South Africa retail sales rise 3.4% y/y in April Read More »
By Nyasha Nyaungwa WINDHOEK (Reuters) -Namibia’s central bank on Wednesday raised its main lending rate by 50 basis points to 4.75%, citing persistent inflationary pressures. Inflation is projected to average around 5.9% for the year, from the 6.0% forecast at the last Monetary Policy Committee meeting, central bank governor Johannes !Gawaxab said. “Although overall inflation …
Namibia hikes lending rate to 4.75% over inflationary pressures Read More »
NAIROBI (Reuters) – Kenya could run out of funds to subsidise fuel costs in the 2022/23 fiscal year if prices keep rising, which could push public debt to unsustainable levels and jeopardise the scheme, the country’s finance minister said on Wednesday. Fuel accounts for a fifth of Kenya’s import bill, according to the ministry. It …
Kenya could run out fuel subsidy cash if prices keep rising -Finance Minister Read More »
(Reuters) – Coca-Cola Co said on Tuesday it had delayed the plans of an estimated $3 billion initial public offering (IPO) of its African bottling unit to 2023 due to turbulence in the market. The flotation of the division, Coca-Cola Beverages Africa (CCBA), would be the biggest on the Johannesburg Stock Exchange since at least …
JOHANNESBURG (Reuters) -Zambian mining investment firm ZCCM-IH has hired investment bank Rothschild & Co for a strategic review of Mopani Copper Mines “to ensure its sustainability and continued development”, the state-owned company said on Wednesday. In April, ZCCM-IH said it was seeking a financial adviser to restructure Mopani and help find a new external investor …
Zambia’s ZCCM-IH hires Rothschild & Co for Mopani Copper Mines restructuring Read More »
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s growth outlook has improved thanks to non-oil sectors and higher oil prices, but those gains are being undermined by the increased cost of a petrol subsidy and distortions in the exchange rate of the naira, the World Bank said on Tuesday. Nigeria’s economy grew for the sixth consecutive …
World Bank raises Nigeria growth estimate but flags oil subsidy concern Read More »
OUAGADOUGOU (Reuters) – Soldiers in Burkina Faso have recovered 79 bodies so far after an attack in the northern Seno province over the weekend, the government said on Tuesday, as new details of the assault emerged. At least 100 people were killed, and possibly as many as 165, in the attack, security and local sources …
Soldiers in Burkina Faso recover 79 bodies so far after weekend attack Read More »
JOHANNESBURG (Reuters) – Global media and services company Thomson Reuters has suspended work with a South African subcontractor following a newspaper report that focused on an alleged conflict of interest related to the awarding of a 225 million rand ($14 million) government IT contract. South African newspaper The Sunday Times reported https://www.timeslive.co.za/sunday-times/news/2022-06-12-it-tender-cloud-hangs-over-office-of-chief-justice-amid-r225m-contract that Thomson Reuters, …
Thomson Reuters launches investigation, halts work with S.African partner Read More »
By Helen Reid and Nelson Banya JOHANNESBURG (Reuters) – European countries, scrambling to secure alternatives to Russian coal, imported 40% more coal from South Africa’s main export hub in the first five months of this year than over the whole of 2021, figures obtained by Reuters showed on Wednesday. South Africa’s Richards Bay Coal Terminal …
Europe imports more South African coal as Russian ban looms Read More »
