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African Economy

AFRICA-FX: Nigeria naira, Kenya, Uganda shillings seen steady; Zambia kwacha to ease

September 8, 2016 9News Nigeria 0

NAIROBI, Sept 8 (Reuters) – The Nigerian naira, Kenyan, Ugandan and Tanzanian shillings are likely to hold steady against the dollar in the next week Read more

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South African economy bounces back in Q2 but outlook cloudy

September 6, 2016 9News Nigeria 0

By Mfuneko Toyana PRETORIA (Reuters) – South Africa’s economy grew its most in six quarters between April and June as declines in the rand helped Read more

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Kenyan shilling steady, importer demand subdued

September 6, 2016 9News Nigeria 0

NAIROBI (Reuters) – The Kenyan shilling held steady against the dollar on Tuesday owing to inflows from remittances and non-governmental organisations, but was seen under Read more

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South Africa’s rand rallies ahead of expected GDP boost

September 6, 2016 9News Nigeria 0

JOHANNESBURG (Reuters) – South Africa’s rand strengthened early on Tuesday, extending gains to a fourth consecutive session in thin trade after a holiday in the Read more

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Ivory Coast evicts thousands of cocoa farmers to save forests

September 6, 2016 9News Nigeria 0

By Ange Aboa and Joe Bavier MONT PEKO NATIONAL PARK, Ivory Coast(Reuters) – Before the morning mists had broken over Ivory Coast’s Mont Peko National Read more

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How your social media reputation could secure you a loan

September 5, 2016 9News Nigeria 0

Traditional banking in Africa has failed – 80% of the continent’s 1.2 billion people do not have a bank account or access to formal financial Read more

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South African Airways wins extension to file accounts in Hong Kong

September 5, 2016 9News Nigeria 0

JOHANNESBURG (Reuters) – South African Airways said on Monday it has been granted a three-week extension to submit financial statements to Hong Kong or risk Read more

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“My life was at risk. My wife and brother were killed on the same day.” – Nigerian migrants’ lament

September 4, 2016 9News Nigeria 0

“My life was at risk. My wife and brother were killed on the same day.” His name is Lucky – a 20-year-old Nigerian. He is Read more

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South Africa’s petrol price to decrease by 1.5 percent next week

September 2, 2016 9News Nigeria 0

JOHANNESBURG (Reuters) – The retail price of petrol in South Africa will decrease by 1.5 percent from September 7, while the price of wholesale diesel Read more

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South African government says committed to reducing debt

September 2, 2016 9News Nigeria 0

JOHANNESBURG (Reuters) – South Africa’s government, which is battling to restore investor confidence against the backdrop of a police probe into Finance Minister Pravin Gordhan Read more

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Rwanda signs $818 mln deal for new international airport

September 2, 2016 9News Nigeria 0

By Clement Uwiringiyimana KIGALI (Reuters) – Rwanda has signed a deal with the African division of Portuguese construction firm Mota-Engil to build an international airport Read more

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Tunisia’s state airline to cut 1,000 jobs: minister

August 30, 2016 9News Nigeria 0

TUNIS (Reuters) – Tunisair, Tunisia’s state-owned carrier, plans to lay off 1,000 employees or more than 12 percent of its full-time workforce, as part of Read more

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Gender Inequality Hampers African Human Development, Economic Growth

August 28, 2016 9News Nigeria 0

GENEVA —  A new report finds economic and social discrimination against women is costing Africa more than $100 billion a year. The U.N. Development Program’s Read more

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Africa Economy: Japan pledges $30 billion for Africa over next three years

August 28, 2016 9News Nigeria 0

By George Obulutsa NAIROBI (Reuters) – Japanese Prime Minister Shinzo Abe told African leaders on Saturday that his country will commit $30 billion in public Read more

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South African assets recover as investors eye Federal Reserve

August 28, 2016 9News Nigeria 0

JOHANNESBURG (Reuters) – South Africa’s rand and bonds rallied on Friday as soft economic growth data in the United States ahead of a speech by Read more

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South Africa’s opposition calls for urgent meeting to rescue state airliner

August 28, 2016 9News Nigeria 0

By Mfuneko Toyana JOHANNESBURG (Reuters) – South Africa’s main opposition the Democratic Alliance (DA) called on Friday for an urgent parliamentary meeting to work out Read more

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Young Entrepreneur Leads Unusual Tour in South Africa

August 25, 2016 9News Nigeria 0

JOHANNESBURG —  A young South African is winning widespread recognition for his unique business in Alexandra, Johannesburg. Jeffrey Mulaudzi takes tourists on bicycle rides through Read more

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Shoprite reported a 17 percent jump in full-year profit despite commodity crunch

August 23, 2016 9News Nigeria 0

By TJ Strydom JOHANNESBURG (Reuters) – Africa’s largest retailer Shoprite Holdings reported a 17 percent jump in full-year profit on Tuesday, shrugging off competition in Read more

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IMF evaluates Ghana’s fiscal outlook, could review assistance program

August 23, 2016 9News Nigeria 0

ACCRA (Reuters) – The International Monetary Fund (IMF) is evaluating Ghana’s fiscal outlook for the rest of 2016 and will consider the third review of Read more

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South Africa’s MTN to sell $729 mln stake to black investors

August 22, 2016 9News Nigeria 0

JOHANNESBURG (Reuters) – South African mobile phone company MTN Group will sell shares worth 9.9 billion rand ($729 million), a 4 percent stake, to black Read more

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Kenyan retailer Uchumi secures 1.2 bln shilling cash injection

August 16, 2016 9News Nigeria 0

NAIROBI (Reuters) – Kenya’s Uchumi Supermarkets will use a cash injection of 1.2 billion shillings ($11.83 million) from the government to repay debts owed to Read more

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IMF, Egypt agree on $12B loan to fix ailing economy

August 11, 2016 9News Nigeria 0

CAIRO (AP) — The International Monetary Fund said Thursday it will grant Egypt a $12 billion loan over three years to help the Arab world’s Read more

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Nigeria’s Economic Woes Affecting African Nations

August 3, 2016 9News Nigeria 0

The nation’s dwindling economy, which the government has confirmed is technically in recession, is currently affecting other African countries. President of Benin Republic, Patrice Talon, Read more

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African Economy: Barclays to cut Africa stake below 50%

August 1, 2016 9News Nigeria 0

Barclays is expected to sell more of its stake in its African subsidiary in the coming weeks to take its holding in the business to Read more

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