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Ethiopia becomes Africa’s latest sovereign default
LONDON (Reuters) – Ethiopia became Africa’s third default in as many years on Tuesday after it failed to make a $33 million “coupon” payment on its only international government bond. Africa’s second…
South Africa’s path to inflation stabilisation uncertain- cenbank
JOHANNESBURG (Reuters) – South Africa’s central bank said on Tuesday that upside risks to inflation had strengthened over the past months, heightening uncertainty about a precise path for inflation. The South African…
South Africa’s economy expected to improve into 2024 – Reuters poll
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s economic growth is expected to pick up slightly next year due to better energy supply, a Reuters poll found, while slowing inflation might give…
Sub-Saharan Africa’s growth dragged down by continent’s heavyweights -World Bank
By Joe Bavier JOHANNESBURG (Reuters) – Sub-Saharan Africa’s economic growth is expected to slow this year, dragged down by slumps in heavyweights South Africa, Nigeria and Angola, the World Bank said on…
South Africa’s consumer confidence recovers in third quarter- Survey
(Reuters) – South Africa’s consumer confidence regained some composure in the third quarter, according to a survey released on Thursday, as a rebound in the economic outlook and improvement in time-to-buy durable…
South Africa’s president briefs Xi on African Russia-Ukraine peace plan
(Reuters) – South Africa’s President Cyril Ramaphosa has briefed Chinese leader Xi Jinping on the upcoming visit by African leaders to Russia and Ukraine in a bid to end hostilities, the South…
South Africa’s central bank flags risks of capital outflows and sanctions
JOHANNESBURG (Reuters) – South Africa’s central bank has warned of risks to the country’s financial stability, due to capital outflows and the possibility of sanctions following a U.S. diplomat’s accusation of supplying…
South Africa’s unemployment rate rises amid power crisis
By Kopano Gumbi PRETORIA (Reuters) – South Africa’s unemployment rate rose in the first quarter after declining for four consecutive quarters last year, data showed on Tuesday, as the country reeled from…
South Africa’s producer inflation slows to 10.6% y/y in March
JOHANNESBURG (Reuters) – South Africa’s producer inflation slowed to 10.6% year-on-year in March from 12.2% in February, statistics agency data showed on Wednesday. On a month-on-month basis, the producer price index was…
South Africa’s Tiger Brands grows sales after price hikes
JOHANNESBURG (Reuters) – South Africa’s biggest food producer Tiger Brands said on Tuesday its four-month revenue to end January rose 17% year-on-year as it raised prices to manage soaring input costs. Consumer…
S. Africa’s Sasol expects HY profit to double on higher oil price
(Reuters) – South African petrochemical group Sasol said on Tuesday it expects its half-year profit to double, driven by strong oil prices and despite operational challenges in its domestic unit. Sasol expects…
South Africa’s Telkom, Rain terminate deal talks; Telkom shares jump
JOHANNESBURG (Reuters) – South African telecoms operator Telkom and data network provider Rain have terminated discussions about a potential acquisition of Rain, Telkom said in a statement on Wednesday, sending Telkom’s shares…
Sub-Saharan Africa’s debt pressures to continue to rise – Fitch
By Rachel Savage JOHANNESBURG (Reuters) – The external debt service burden in Sub-Saharan Africa will continue to climb in the coming years, ratings agency Fitch said on Wednesday, as the pressures of…
MTN lands subsea cable in South Africa to boost Africa’s connectivity
JOHANNESBURG (Reuters) – MTN South Africa and MTN GlobalConnect, in partnership with a consortium, have landed a 45,000 kilometre subsea cable in South Africa, part of plans to build a subsea network…
South Africa’s Ramaphosa files court papers challenging misconduct report
JOHANNESBURG (Reuters) – South African President Cyril Ramaphosa has filed court papers challenging a report by a panel of experts that found preliminary evidence he may have violated the constitution and committed…
South Africa’s Ramaphosa will not resign, spokesperson says
JOHANNESBURG (Reuters) – South African President Cyril Ramaphosa will not resign and will seek a second term as leader of the ruling African National Congress (ANC) after allies rallied behind him to…
South Africa’s Shoprite to close operations in Democratic Republic of Congo
KINSAHA (Reuters) – South African retailer Shoprite will shut down its operations in Democratic Republic of Congo, it said in a statement seen by Reuters on Tuesday. The decision follows the closure…
E-moped firm out to win over West Africa’s sceptical moto-taxi drivers
By Pulcherie Adjoha and Seraphin Zounyekpe COTONOU (Reuters) – Shrouded in exhaust fumes, Arouna Gdamassi slid silently among the motorcycles swarming through rush hour traffic in Benin’s commercial capital Cotonou. The 40-year-old…
South Africa’s Paramount receives orders for Mwari aircraft
PRETORIA (Reuters) – Private South African defence firm Paramount Aerospace Industries has received orders for nine of its Mwari aircraft – the first military aircraft to be designed and built in the…
South Africa’s Ramaphosa to discuss climate change, energy transition with Biden
WASHINGTON (Reuters) – South African President Cyril Ramaphosa said on Friday he wanted to discuss climate change and fears related to energy transition in his talk with U.S. President Joe Biden. A…
Analysis: Scientists look to solve ozone threat to Africa’s food security
By Gloria Dickie ABERGWYNGREGYN, Wales (Reuters) – Plant scientist Felicity Hayes checks on her crops inside one of eight tiny domed greenhouses set against the Welsh hills. The potted pigeon pea and…
South Africa’s Mr Price expands baby portfolio with standalone stores
JOHANNESBURG (Reuters) – South Africa’s value fashion and homeware retailer Mr Price is testing standalone baby stores, in a push to gain a share of the growing and highly competitive baby care…
South Africa’s COSATU leads union protests over high cost of living
By Shafiek Tassiem and Wendell Roelf PRETORIA/CAPE TOWN (Reuters) – Hundreds of South Africans protested in Pretoria and Cape Town on Wednesday against inflation that has soared to a 13-year high, in…
THE NEW SCRAMBLE FOR AFRICA: Europe Eyes Africa’s Vast Gas Reserves As Alternative To Russia
THE NEW SCRAMBLE FOR AFRICA: Europe Eyes Africa’s Vast Gas Reserves As Alternative To Russia Micaela Burrow on July 27, 2022 European countries see African energy resources as a possible substitute for…
Hundreds evacuated amid renewed flooding in South Africa’s coastal province
JOHANNESBURG – Hundreds of people have been evacuated to safety after heavy rains once again hammered South Africa’s coastal province of KwaZulu-Natal, flooding roads and houses and damaging properties, a government official…
S&P raises South Africa’s outlook to ‘positive’ on trade terms, fiscal discipline
(Reuters) – Ratings agency S&P revised https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/2842888 South Africa’s outlook to “positive” on Friday, saying it reflects favourable terms of trade and a path toward contained fiscal expenditure for the country. S&P…
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