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Marsa Maroc to invest in Djibouti’s Damerjog petroleum terminal, decree says

6 Jan 2025

RABAT (Reuters) – Morocco’s top port operator Marsa Maroc will invest an undisclosed sum in Damerjog Oil FZE, which is planning to build an oil and gas port on Djibouti’s Gulf of Aden coast, according to a Moroccan government decree seen on Monday. Marsa Maroc has created a subsidiary, Marsa Maroc International Logistics, which will …

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Kenya’s shilling stable, LSEG data shows

6 Jan 2025

NAIROBI (Reuters) – Kenya’s shilling was steady against the dollar on Monday, data from London Stock Exchange Group showed. At 0736 GMT, the shilling traded at 129.00/129.50 per dollar, the same as Friday’s closing rate. (Reporting by George Obulutsa; Editing by Duncan Miriri)

Nairobi Securities Exchange allows Kenya Airways shares to trade again

6 Jan 2025

NAIROBI (Reuters) -Nairobi Securities Exchange has lifted a suspension on trading shares of national carrier Kenya Airways, the bourse said on Monday. “The suspension on the trading of Kenya Airways PLC shares was lifted following the company’s recent performance which saw the company record a profit after tax and the withdrawal of the National Aviation …

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Egypt’s non-oil private sector contracts in December as cost pressures rise, PMI shows

6 Jan 2025

CAIRO (Reuters) – Operating conditions in Egypt’s non-oil private sector deteriorated in December, with output and new orders falling at the sharpest rates in eight months amid rising cost pressures, S&P Global reported on Monday. The headline S&P Global Egypt Purchasing Managers’ Index (PMI) dropped to 48.1 in December from 49.2 in November, its fourth …

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Egypt to receive $1.2 billion as part of IMF programme in January, finance minister says

5 Jan 2025

CAIRO (Reuters) – Egypt is expected to receive a $1.2 billion disbursement from the International Monetary Fund this month as part of an $8 billion programme with the international lender, Finance Minister Ahmed Kouchouk said on Sunday. Last month, the IMF said it reached a staff-level agreement with Egypt on the fourth review of the …

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Mauritius’ former central bank governor released on bail, local media report

4 Jan 2025

PORT LOUIS (Reuters) – The former governor of Mauritius’ central bank has been released on bail after he was detained and charged with conspiracy to commit fraud, a local newspaper reported. Harvesh Seegolam was arrested on Friday, the first major move by the government of Prime Minister Navin Ramgoolam, who has said the previous administration …

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Ghana’s parliament passes provisional budget, averts government shutdown

3 Jan 2025

By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghana’s parliament has passed a provisional budget that allows the government to spend 68.1 billion Ghanaian cedis ($4.65 billion) through March, the chamber’s speaker said, narrowly averting an unprecedented government shutdown. Parliamentary Speaker Alban Bagbin said the parliament had approved the provisional budget in a sitting that stretched …

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