ABUJA (Reuters) – Nigeria’s double-digit inflation quickened to 15.92% in March, rising for a second straight month as prices for food and non-food items rose in Africa’s biggest economy, the statistics office said on Friday. Inflation, which has been in double digits since 2016, rose from 15.70% in February, it said. The price of diesel, …
By Ayenat Mersie NAIROBI (Reuters) – Kenya’s energy minister on Thursday threatened to reduce import quotas for oil companies that fail to sell their full allocation as the country grapples with a biting fuel shortage. The fuel crisis in Kenya is in its second week and has seen traffic in parts of the capital Nairobi …
Kenya cracks down on fuel companies, confirms departure of Rubis’ CEO Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s 614 km (384 mile) gas pipeline that is under construction will start operating during the first quarter of next year, which would help boost electricity supply, head of state oil firm NNPC Mele Kyari said on Thursday. Construction of the Ajaokuta-Kaduna-Kano (AKK) pipeline began in June 2020, with …
Nigeria’s AKK gas pipeline to open in early 2023, NNPC says Read More »
(Corrects last paragraph to show investment declined, not climbed) CAIRO (Reuters) – Egypt’s current account deficit narrowed to $3.8 billion in the October-December quarter from $4.85 billion in the same period a year earlier, boosted by a jump in tourism, the central bank said in balance of payments figures released on Thursday. The figures also …
Egypt current account deficit narrows to $3.8 billion in Oct-Dec Read More »
By Alistair Smout and Clement Uwiringiyimana DUNGENESS, England/KIGALI (Reuters) -Britain could send tens of thousands of asylum seekers to the East African country of Rwanda, Prime Minister Boris Johnson said on Thursday, aiming to break people-smuggling networks and stem the flow of migrants across the Channel. Concerns over immigration were a big factor in the …
Britain plans to send migrants to Rwanda under tougher asylum policy Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened on Thursday as poor mining data added to worries of slower economic growth, coming right after two successive similar drops – in manufacturing and retail sales numbers – that dampened investor confidence. At 1500 GMT, the rand traded at around 14.6744 against the dollar, down 0.77% from its previous …
South Africa’s rand falls as mining data disappoints, stocks rise Read More »
ABUJA (Reuters) – Nigeria’s parliament on Thursday approved a 4 trillion naira ($9.6 billion) petrol subsidy after President Muhammadu Buhari asked for additional funds to offset higher global oil prices driven by the conflict in Ukraine. Buhari last week requested the extra money in a letter to parliament, saying the 443 billion naira earlier budgeted …
Nigerian parliament approves $9.6 billion fuel subsidy Read More »
By Helen Reid JOHANNESBURG (Reuters) -South Africa’s state-owned logistics firm Transnet has declared force majeure and is seeking to terminate long-term coal transportation agreements, thermal coal producer and exporter Thungela Resources said on Thursday. Despite Thungela saying rail services and coal exports are continuing, and the development would not significantly impact its 2022 production forecast, …
South Africa’s Transnet declares force majeure on coal contracts, Thungela says Read More »
ABIDJAN (Reuters) – Cocoa production in Ghana is expected to fall by at least 31% in 2021/22 from the season before, industry sources said on Thursday, due to growing conditions described by one exporter as “catastrophic”. Ghana is the world’s second biggest cocoa producer after its neighbour Ivory Coast. Its output exceeded one million tonnes …
Ghana cocoa output to slide 31% in 2021/22 due to ‘catastrophic’ conditions Read More »
ABIDJAN (Reuters) – Ivory Coast seeks to raise over 2 trillion CFA francs ($3.32 billion) on the West Africa regional market in 2022, the Treasury director general, Jacques Assahore, said on Thursday. The country raised 2.7 trillion CFA francs on the regional market last year, Assahore said at a press conference in Abidjan. President Alassane …
Ivory Coast seeks to raise $3 billion on the regional market in 2022 Read More »
