Reuters Africa Business

JOHANNESBURG (Reuters) – South African manufacturing activity expanded further in February, as better demand supported new sales orders and output volumes, a survey showed on Tuesday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) rose to 58.6 points in February from 57.1 points in January, remaining above the 50-point mark that separates expansion from contraction. “Respondents …

South Africa factory activity expands further in February – Absa PMI Read More »

TUNIS (Reuters) – Tunisia has raised fuel prices by about 3% for the second time in a month due to a sharp rise in oil prices, in an effort to rein in its budget deficit, the Energy Ministry said on Monday. The North Africa country, suffering from its worst financial crisis, is trying to agree …

Tunisia raises fuel prices for second time in a month Read More »

WINDHOEK (Reuters) – Namibia’s Finance Minister Iipumbu Shiimi said on Thursday the country’s growth rate was projected to accelerate to 3.7% in 2023 led by a pick up in mining, agriculture, fishing and other primary sector of the economy. The country was expected to have grown by 1.2% in 2021, lower than the estimated 1.9% …

Namibia projects economic growth at 3.7% by 2023 – finance minister Read More »

CAIRO (Reuters) – Algerian President Abdelmadjid Tebboune on Thursday said that the country’s investments in hydrocarbons will exceed $39 billion within the next four years, state news agency APS reported. (Reporting by Lilian Wagdy; Editing by David Goodman)

By Camillus Eboh ABUJA (Reuters) – West Africa’s regional bloc said it has launched a 330 kilowatt interconnection line to supply electricity from Nigeria to Niger, Burkina Faso, Benin and Togo at a cost of $568 million. Once the newly-launched project is completed, all 14 member countries of the Economic Community of West African States …

West Africa to jump start power market with $568 million power line Read More »

JOHANNESBURG (Reuters) -South Africa’s energy regulator Nersa said on Thursday that it had granted struggling state power utility Eskom an overall average tariff increase for the 2022/23 financial year of 9.61%, versus the 20.50% increase Eskom had applied for. Nersa rarely allows Eskom the full amount it applies for, with disputes between the two often …

South Africa’s Eskom granted 9.61% tariff rise, less than half sought Read More »

GABORONE (Reuters) – Botswana’s central bank left its main lending rate unchanged at 3.75% in a decision announced on Thursday, saying it believed high inflation was transitory. The bank said it saw inflation, which was running at 10.6% in annual terms in January, starting to decline in the second quarter and falling back within a …

Botswana holds main rate, says high inflation transitory Read More »