By Chijioke Ohuocha ABUJA (Reuters) -Nigerian GDP grew 3.11% in the first quarter, slower than in the previous quarter as a fall in oil production hit the rest of the economy, the national statistics office said on Monday ahead of a central bank interest rate decision on Tuesday. It was the sixth consecutive quarter of …
Nigeria Q1 GDP growth slows Q/Q ahead of rates decision Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – The Bank of Ghana (BOG) will raise its prime lending rate again later on Monday, probably lifting it by 175 basis points to 18.75%, as authorities struggle to put the brakes on runaway inflation, a Reuters poll found. African central banks are feeling liquidity pressures and dollar scarcity as …
Ghana’s central bank to hike rates to 18.75% to halt inflation Read More »
(Reuters) – South Africa’s Dis-Chem Pharmacies reported a rise in annual profit on Monday, buoyed by acquisitions of new drugstores and stronger demand for medicines as COVID-19 lockdowns ease. The drugstore chain said the acquisitions of dozens of locations during the year ended Feb. 28, and its recent launch of a health insurance offering have …
S.Africa’s Dis-Chem profit rises on new acquisitions, medicine demand Read More »
CAIRO (Reuters) – Egyptian President Abdel Fattah al-Sisi signed a law to increase the state budget in the 2021-2022 fiscal year that ends in June by six billion EGP ($329 million), state news agency (MENA) reported on Sunday. ($1 = 18.2100 Egyptian pounds) (Reporting by Yasmin Hussein;Editing by Elaine Hardcastle)
JOHANNESBURG (Reuters) – South African state utility Eskom said it would increase the frequency of rotational power cuts on Saturday and Sunday due to higher than expected demand and after some units tripped. It said it would increase rotational power cuts to “Stage 4” from “Stage 2” between 1 p.m. and 10 p.m. (1100-2000 GMT) …
South Africa’s Eskom increases power cuts to ‘Stage 4’ on Saturday, Sunday Read More »
CAIRO (Reuters) – Egypt expects the Suez Canal’s revenues to reach about $7 billion by the end of the current fiscal year, finance minister Mohamed Maait said on Saturday. Tourism revenues are expected to reach between $10 billion and $12 billion by then, despite the Ukrainian crisis, he added. Egypt’s fiscal year runs from July …
Egypt expects Suez Canal revenues to hit $7 billion by end of fiscal year – minister Read More »
GABORONE (Reuters) – Operations have been suspended at Khoemacau Zone 5 copper and silver mine in Botswana after an underground accident killed two people on Friday, the company said on Saturday. Situated in the Kalahari Copperbelt, which stretches from north east Botswana to western Namibia, the Khoemacau mine is the only operational copper mine in …
Work suspended at Botswana’s Khoemacau copper mine after accident kills two Read More »
(Reuters) – Ratings agency S&P South Africa’s outlook to “positive” on Friday, saying it reflects favourable terms of trade and a path toward contained fiscal expenditure for the country. S&P upgraded its outlook from “stable” and affirmed the “BB-/B” foreign currency as well as “BB/B” local currency ratings on South Africa. “Recent favourable terms of …
S&P raises South Africa’s outlook to ‘positive’ on trade terms, fiscal discipline Read More »
JOHANNESBURG (Reuters) -South Africa’s rand was little changed on Friday, holding on to most of the gains made in the previous session after the central bank announced its biggest rise to the main lending rate in more than six years to rein in inflation. The U.S. dollar’s retreat from two-decade highs has also supported the …
South Africa’s rand sees weekly gain after lending rate hike Read More »
DAKAR (Reuters) – Equatorial Guinea’s ailing economy has been dented by the pandemic and a series of deadly dynamite explosions in 2021 despite government efforts to mitigate the impact of these shocks on the oil-producing nation, the International Monetary Fund (IMF) said on Friday. The former Spanish colony on the west coast of central Africa …
Pandemic and explosions worsen Equatorial Guinea prospects, IMF says Read More »
