AFRICA-FX: Nigeria naira, Kenya, Uganda shillings seen steady; Zambia kwacha to ease
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
African Economy
South African economy bounces back in Q2 but outlook cloudy
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
Kenyan shilling steady, importer demand subdued
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
South Africa’s rand rallies ahead of expected GDP boost
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
Ivory Coast evicts thousands of cocoa farmers to save forests
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
How your social media reputation could secure you a loan
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
South African Airways wins extension to file accounts in Hong Kong
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
“My life was at risk. My wife and brother were killed on the same day.” – Nigerian migrants’ lament
“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
South Africa’s petrol price to decrease by 1.5 percent next week
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
South African government says committed to reducing debt
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
Rwanda signs $818 mln deal for new international airport
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
Tunisia’s state airline to cut 1,000 jobs: minister
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
Gender Inequality Hampers African Human Development, Economic Growth
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
Africa Economy: Japan pledges $30 billion for Africa over next three years
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
South African assets recover as investors eye Federal Reserve
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
South Africa’s opposition calls for urgent meeting to rescue state airliner
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
Young Entrepreneur Leads Unusual Tour in South Africa
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
Shoprite reported a 17 percent jump in full-year profit despite commodity crunch
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
IMF evaluates Ghana’s fiscal outlook, could review assistance program
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
South Africa’s MTN to sell $729 mln stake to black investors
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
Kenyan retailer Uchumi secures 1.2 bln shilling cash injection
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
IMF, Egypt agree on $12B loan to fix ailing economy
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
Nigeria’s Economic Woes Affecting African Nations
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
African Economy: Barclays to cut Africa stake below 50%
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