(Reuters) – South Africa’s current account surplus widened slightly to 2.2% of gross domestic product (GDP) in the first quarter from 2.1% of GDP in the final quarter of 2021, central bank data showed on Thursday. In rand terms, the current account surplus for the January-March period rose to 143 billion rand ($9.40 billion) from …
South Africa’s current account surplus widens in Q1 Read More »
By Wendell Roelf CAPE TOWN (Reuters) – Private developers of Angola’s new $3.5 billion oil refinery are planning to start construction early next year once the site is completely demined, officials at U.S.-led Quanten Consortium said, in an effort to reduce reliance on imported fuels. A shortage of oil refineries across sub-Saharan Africa coupled with …
Angola’s new $3.5 billion oil refinery on track, says U.S.-led developers Read More »
KINSHASA (Reuters) – The World Bank and Congo have signed two funding conventions of$900 million to boost female entrepreneurship and access to water and electricity in the east and west of the country, the Bank said in a statement. The projects will focus on Congo’s centralwest Kasai province and eastern regions. “These operations supplement a …
World Bank to fund $900 million development projects in east Congo Read More »
(Corrects figure in paragraph 5 to 9.3 trillion from 9.3 billion CFA francs) ABIDJAN (Reuters) – Ivory Coast’s economy is expected to grow by 7.2% in 2022, the Minister of Economic Planning and Development Niale Kaba said on Wednesday. The government’s prediction is higher than a World Bank estimate of 5.7% growth for 2022. Kaba …
(Reuters) -South Africa’s rand strengthened on Wednesday as a weaker U.S. dollar lent support even as concerns about weak global growth weighed on markets. At 1559 GMT, the rand traded at 15.2650 against the dollar, 0.59% stronger than its previous close. Earlier in the day, the currency had weakened over 0.5%. The dollar index was …
South African rand firms as dollar weakens, stocks drop Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -SPAR Group is likely to miss a target for its Polish grocery business to breakeven by the end of this year due to a slower-than-expected uptake from independent retailers, the South African wholesaler’s CEO said on Wednesday. After buying a controlling stake in Polish deli and supermarket chain Piotr i …
S.Africa’s SPAR sees Polish arm taking longer to break even Read More »
DAKAR (Reuters) – Senegal has issued a sukuk, or Islamic bond, worth 330 billion CFA francs ($541 million) to finance the acquisition of government buildings and other projects, a branch of the Islamic Development Bank Group said on Wednesday. The bond was sold in three tranches of seven years, ten years and 15 years, said …
NAIROBI (Reuters) – Tanzania will for the first time allow residents of East African and Southern African trade blocs to invest in its Treasury bonds and bills, the central bank said on Wednesday. The Bank of Tanzania said a new law regulating foreign exchange had been gazetted in May, replacing two previous ones that had …
Tanzania opens up investment in govt securities to regional countries Read More »
NAIROBI (Reuters) – Shares in Kenya’s Centum Investment Co. Plc rose on Wednesday after the firm said it had agreed to sell its 83.4% stake in Kenya’s Sidian Bank for 4.3 billion shillings ($37 million). Centum said the deal with Nigeria’s Access Bank, a subsidiary of Access Holdings, was subject to regulatory approval in Kenya …
Kenya’s Centum Investment shares surge on planned bank stake sale Read More »
By Christian Akorlie and Cooper Inveen ACCRA (Reuters) – Ghana’s consumer price inflation accelerated to 27.6% year-on-year in May from 23.6% in April, marking a full year of continuous price acceleration in the West African nation, the statistics service said on Wednesday. Inflation in Africa’s second-largest gold and cocoa producer hit an 18-year high in …
Ghana consumer inflation rises further to 27.6% y/y in May Read More »
