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Africa News
S. Africa’s Sasol’s revenues drop 34% in half-year
South African Sasol reported a 34 per cent decline in half-year profit on Monday, mainly attributed to weaker oil…
Cabinet approves Egypt’s FEDA membership
The Egyptian Cabinet approved on Thursday a draft presidential decree regarding the country’s membership of the…
BNR keeps key rate unchanged
Rwanda's central bank (BNR) decided to keep its key interest rate steady at 7.5 per cent on Thursday.
Bank of Botswana holds policy rate unchanged
Bank of Botswana maintained its main interest rate at 2.40 per cent while reducing its projection for this year's…
Mozambique’s Maputo port in $2bln capacity expansion plan
Mozambique's Maputo port, which has grown to be a major hub for the world's exported chrome will see a $2 billion…
S. Africa’s unemployment rate surges to 32.1%
South Africa’s unemployment rate rose by 2 per cent to stand at 32.1 per cent in the fourth quarter of 2023 from…
Nigeria’s unemployment rate surges 5%
Nigeria’s unemployment rate rose by 5 per cent in the third quarter of 2023 due to a crisis in the cost of living…
Uganda estimates spending UGX53.3tn on current financial year
Uganda's government estimates spending 53.3 trillion shillings ($13.74 billion) for the fiscal year that begins in…
Niger misses debt payment, default climbs to nearly $520mln
Niger missed 13.4 billion CFA francs ($22 million) debt payment last week, which brings the country’s total default…
Nigeria’s inflation hits 29.90%, highest since mid-1996
Nigeria’s headline inflation rate rose to 29.90 per cent in January 2024, compared to 28.92 per cent in December…