ABUJA (Reuters) -Shares of Nigeria’s two biggest listed firms, MTN Nigeria and Dangote Cement, hit record highs on Wednesday, lifting the main stock index to a more than 13-year high, Refinitiv Eikon data showed. Nigerian stocks have been rising this year as domestic investors pile into local equities in the wake of double-digit inflation and …
Shares of Dangote Cement and MTN Nigeria hit record highs Read More »
JOHANNESBURG (Reuters) -South Africa’s struggling state-owned utility Eskom said on Wednesday that the power outlook remained highly uncertain, with unplanned outages often varying by 2,000 megawatts (MW) in one week. Repeated breakdowns at Eskom’s coal fleet are a major brake on economic growth in Africa’s most industrialised nation. The company with a nominal capacity of …
South Africa’s Eskom warns power outlook highly uncertain Read More »
By Cooper Inveen ACCRA (Reuters) -Ghana’s consumer price inflation accelerated to 23.6% year-on-year in April from 19.4% in March, the statistics service said on Wednesday, a recent record one economist said was “shocking”. The West African nation’s latest inflation reading was the highest in 18 years and more than double government’s targeted band of 6% …
Ghana’s consumer inflation spikes to ‘shocking’ 23.6% in April Read More »
By Tarek Amara TUNIS (Reuters) – Tunisia will raise the prices of some foods including milk, eggs and poultry this week, the agriculture minister said, following protests by farmers against a jump in animal feed barley prices due to the war in Ukraine and an increase in energy costs. Unions warn that the wave of …
Tunisia to raise the prices of some foodstuffs after farmers’ protests Read More »
(Reuters) -South Africa’s largest metal-workers’ union began a strike at ArcelorMittal South Africa Ltd on Wednesday after wage negotiations broke down, the steelmaker said in a statement. The National Union of Metalworkers of South Africa had given notice of the strike on May 9, ArcelorMittal said. “It was hoped that this action could be averted …
South Africa labour union begins strike at ArcelorMittal Read More »
BENGHAZI, Libya (Reuters) -Libya’s parliament wants the government it has appointed under Fathi Bashagha to be based for now in Sirte, it said on Tuesday, amid a stalemate over control of the capital Tripoli where another administration refuses to hand over power. The move represents the clearest acknowledgement since the parliament appointed Bashagha in March …
Libyan parliament says Bashagha govt should start work in Sirte Read More »
JOHANNESBURG (Reuters) -The South African rand gained on Tuesday, helped by a recovery in risk appetite globally after a steep loss on Monday. But U.S. dollar strength and power cuts by struggling state-owned utility Eskom continued to pose risks for the South African currency. As of 1520 GMT, the rand traded at 16.1500 against the …
South African rand gains, helped by recovery in risk appetite Read More »
By Wendell Roelf and Promit Mukherjee CAPE TOWN (Reuters) – Botswana has been inundated with inquiries to supply coal to Europe and estimates that demand from Western countries could top a million tonnes a year, President Mokgweetsi Masisi said on Tuesday, as the Ukraine war forces Europe to pivot more to Africa for energy resources. …
By Nelson Banya HARARE (Reuters) – Zimbabwean security guard Edwin Dapi was already struggling to provide for his wife and four children before a conflict 11,000 km (6,800 miles) away in Ukraine sent global prices for grains, cooking oils, fuel and fertilizer soaring. Now his monthly pay of 18,000 Zimbabwe dollars, worth roughly $55 at …
HARARE (Reuters) – Zimbabwe’s freeze on bank lending is a temporary measure which is meant to contain inflation and stabilise its economy, central bank governor John Mangudya told state television on Tuesday. President Emmerson Mnangagwa on Saturday ordered the suspension with immediate effect, saying the move was meant to stop speculation against the Zimbabwean dollar, …
Zimbabwe central bank says bank lending freeze is temporary Read More »
