TUNIS (Reuters) -Tunisia plans to lower electricity and fuel subsidies to reduce a budget deficit driven by high oil prices, Tunisian Industry and Energy Minister Naila Nouira told newspaper Assabah on Friday, in a key reform asked for by international lenders. Tunisia, which is suffering a financial crisis, is seeking to obtain a rescue package …
Tunisia will cut energy subsidies, minister tells newspaper Read More »
JOHANNESBURG (Reuters) – Africa’s largest mobile operator by subscriber numbers, MTN said on Friday its profits for the year to Dec. 31 would probably rise by up to 35%, without giving a reason. Headline earnings per share (HEPS), the main profit measure in its home market of South Africa, are likely to range between 936 …
Africa’s MTN flags annual profit rise of up to 35% Read More »
By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s economy recorded its fastest growth in seven years in 2021 despite a slight slowdown in the fourth quarter due to oil sector woes, the statistics office said on Thursday. The National Bureau of Statistics (NBS) said full-year growth stood at 3.40% in 2021, its fastest rate of expansion since …
Nigeria records fastest GDP growth in seven years in 2021 Read More »
JOHANNESBURG (Reuters) -The South African rand firmed in afternoon trade on Thursday as commodity prices, which benefit the resource-rich country, rose amid an escalation in the Ukraine-Russia conflict. The rand has been resilient recently, despite markets being on edge over Ukraine tensions, supported by South Africa’s strong terms of trade, relatively high real yields and …
South African rand firms on higher commodity prices, stocks slip Read More »
By Joe Bavier and Rachel Savage JOHANNESBURG/LONDON (Reuters) – Wealthy nations must improve their floundering flagship debt relief initiative or face a spate of debt crises in the developing world, experts and campaigners say as a meeting of finance chiefs of G20 major economies opened on Thursday. As the pandemic battered global economies, the Group …
G20 must push relief to avoid debt crises – experts, campaigners Read More »
NEW YORK (Reuters) – Strong Harmattan conditions have been registered over the hinterlands of Ivory Coast and Ghana, the world’s two largest producers of cocoa, and also over southwest Nigeria, damaging the tree canopy, Climate42 said in a report on Wednesday. Harmattan is a climatic occurrence characterized by very dry and strong winds blown from …
Strong Harmattan conditions seen in West Africa cocoa area – report Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) -South African miner Gold Fields Ltd reported a 20% rise in full-year profit on Thursday, boosted by higher production and firmer prices, but flagged growing cost pressures. The gold miner’s headline earnings per share (HEPS) – the main measure of corporate profit in South Africa – rose to 100 U.S. …
South Africa’s Gold Fields profit up 20%, flags rising costs Read More »
BERLIN (Reuters) – The German government is planning to transfer hydrogen production technology to African countries amid its efforts to quit coal and nuclear energy, a German government official said on Wednesday. Germany will have to import 40-60% of the hydrogen it needs for its energy transformation plans, the official said ahead of a meeting …
Germany to transfer hydrogen technology to Africa -govt official Read More »
JOHANNESBURG (Reuters) -The South African rand weakened in afternoon trade on Wednesday, as data showed consumer inflation slowed in January, lowering expectations of aggressive domestic interest rates hikes. At 1425 GMT the rand traded at 15.1500 against the dollar, 0.3% weaker than Tuesday’s close. South Africa’s January inflation fell to 5.7% year on year in …
South African rand falls as inflation slows, stocks rise Read More »
JOHANNESBURG (Reuters) – Tiger Brands on Wednesday reported a 1% fall in first-quarter revenue and said it plans more price increases in the second quarter to help ease pressure on margins at South Africa’s largest food producer. Consumer goods companies are grappling with a surge in commodities, energy, transport and labour costs. Tiger Brands is …
South Africa’s Tiger Brands plans more price increases as margins struggle Read More »
