Reuters Africa Business

NAIROBI (Reuters) -Kenya’s Equity Group Holdings, the country’s biggest lender by customers, said on Thursday its first quarter pretax profit for this year rose by 30 percent, helped by rising interest income. Equity, which also operates in Uganda, Tanzania, Rwanda, Burundi, South Sudan and Democratic Republic of Congo, said its pretax profit rose 15.28 billion …

Kenya’s Equity Group says Q1 pretax profit, interest income up Read More »

By Cooper Inveen ACCRA (Reuters) -Ghana is committed to managing its debt without assistance from the International Monetary Fund (IMF), Finance Minister Ken Ofori-Atta said, expressing his confidence that government measures were moving the country in the right direction. Ghana’s total public debt, which stood at about 77% of its gross domestic product at the …

Ghana will solve debt crisis without IMF help, finance minister says Read More »

ABUJA (Reuters) – Nigeria’s naira NGNP hit a record low of 596 naira per dollar on the black market on Thursday, as increased political spending ahead of month-end election primaries hit the currency, traders said. Political parties in Nigeria are due to pick presidential candidates by June 3, according to the electoral commission, while official …

Nigeria naira at record black market low against dollar Read More »

DAR ES SALAAM (Reuters) – Tanzania is in talks with the International Monetary Fund for a $1.1 billion three-year financing package, and that a team was in the country to examine the request, President Samia Suluhu Hassan’s spokesperson said on Thursday. “When the president was in the US, she met with the IMF boss where …

Tanzania says in talks with IMF over $1.1 billion financing package Read More »

JOHANNESBURG (Reuters) – South Africa’s manufacturing output was down 0.8% year on year in March after rising by a revised 0.7% in February, the statistics agency said on Thursday. Factory production rose 0.6% month on month in March, Statistics South Africa said. (Reporting by Olivia Kumwenda-Mtambo; Editing by Tim Cocks)

JOHANNESBURG (Reuters) – South Africa’s power utility Eskom will again implement rotational power cuts from 1500 GMT to 2000 GMT on Thursday, as it struggles with breakdowns at its generating units. Eskom said in a statement the outages will be under “Stage 2”, which requires up to 2,000 megawatts to be cut from the national …

South Africa’s Eskom says power cuts to resume on Thursday Read More »

JOHANNESBURG (Reuters) – South Africa’s National Institute for Communicable Diseases on Wednesday reported 10,017 new COVID-19 cases, the first day since January the institute has reported more than 10,000 new infections. Health authorities have warned South Africa may be entering a fifth wave of infections driven by the BA.4 and BA.5 Omicron sub-variants. South Africa …

S.Africa’s new COVID cases cross 10,000 for first time since January Read More »