NAIROBI (Reuters) – Kenyan private sector activity fell in April, hurt by rising consumer inflation and supply shortfalls for some goods. The S&P Global Kenya Purchasing Managers’ Index (PMI) dropped to 49.5 from 50.5 a month earlier. The 50.0 mark separates growth in activity from contractions. “Kenyan companies saw a renewed deterioration in business conditions …
Kenya private sector activity falls in April – PMI Read More »
NAIROBI (Reuters) – Ethiopia’s inflation accelerated to 36.6% year-on-year in April from 34.7% a month earlier due to food and non-food price rises, the statistics office said. Month-on-month, inflation was 2.2%, the Central Statistics Agency said in a statement late on Thursday. “In the month of April 2022 high rates of trading was observed between …
By Nelson Banya (Reuters) – Zimbabwe expects its harvest of staple white maize grain to fall by almost half this year due to poor rainfall in the 2021/22 growing season, but still has enough buffer stocks following a record harvest the previous year, according to a cabinet statement seen by Reuters on Thursday. The Southern …
Zimbabwe govt expects 43% decline in maize harvest this year Read More »
KIGALI (Reuters) – First quarter pre-tax profits for MTN Rwandacell , a unit of the South African telecoms group MTN, rose 15.7% to 24.7 billion Rwandan francs ($24 million), driven by growth in voice, data, and mobile money services, the company said on Thursday. The results come on the back of a rebound in the …
MTN’s Rwandacell Q1 pre-tax profits rise 15.7% to $24 million Read More »
DAKAR (Reuters) – Mali has failed to pay 1.28 billion CFA francs ($2.06 million) in interest on a treasury bond that was due on May 3, the West African debt agency Umoa-Titres said on Thursday. ($1 = 620.2500 CFA francs) (Reporting by Sofia Christensen; Editing by Estelle Shirbon)
JOHANNESBURG (Reuters) -South Africa’s rand slumped by close to 4% on Thursday, one of is biggest single day losses in over two years, as the dollar recouped losses after the U.S. Federal Reserve indicated an unlikely chance of a 75 basis point rate hike. At 1600 GMT, the rand was trading at 16.0650 against the …
South Africa’s rand slumps after Fed hike, stocks drop Read More »
JOHANNESBURG (Reuters) -Angola is expecting to record its lowest rate of inflation in 18 months when April data is released, the oil-producing Southern African country’s central bank governor said on Thursday, while economic growth was estimated at over 2% in the first quarter. While price pressures are rising sharply worldwide driven by spikes in food …
Angola expects April inflation to be lowest in 18 months Read More »
By Duncan Miriri NAIROBI (Reuters) -Kenya’s growth rebounded to 7.5% in 2021, data released on Thursday showed, as its finance minister Ukur Yatani forecast the economy would continue on this trajectory this year. Growth in East Africa’s biggest economy slid into its first contraction in nearly three decades in 2020 as the COVID-19 pandemic damaged …
Kenyan finance minister positive on growth after 2021 rebound Read More »
NAIROBI (Reuters) – Kenya’s shilling weakened on Thursday, undermined by sustained importer dollar demand from various sectors, traders said. At 1003 GMT, commercial banks quoted the local unit at 115.85/116.05 per dollar, from Wednesday’s close of 115.75/95. Earlier on Thursday, the shilling touched a new all-time low of 115.90/116.10, according to Refinitiv data. ………………………Shilling spot …
Kenyan shilling weakens on sustained importer demand Read More »
(Reuters) – South Africa’s Gold Fields Ltd on Thursday reported a 7% increase in first quarter production while flagging the impact of rising inflation on costs. Output for the quarter ended March 31 rose to 580,000 ounces from 541,000 ounces a year earlier. Its South African, Australian and Peruvian operations increased production with only its …
South Africa’s Gold Fields first-quarter output up 7% Read More »
