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Africa Business

Kenya's Treasury avoids dealing with rate cap in draft law

09h18 Kenya's Treasury avoided mentioning a cap on commercial-bank lending rates in a draft law on the conduct of the financial sector that was published for public comment late on Wednesday.  Full story

Angola central bank holds benchmark rate at 18 percent

16h50 Angola's central bank said on Thursday it has left its benchmark interest rate unchanged at 18 percent at a meeting of its monetary policy committee.. . .  Full story

Ethiopia opens telecoms sector to limited competition

23/05 Ethiopia's state-run telecoms monopoly has agreed to allow some local firms to provide internet services through its infrastructure, a move seen as spurring competition and expanding the data market, officials said.. . .  Full story

Ghana producer price inflation rises to 6.4 pct in April

23/05 Ghana's producer price inflation rose to 6.4 percent year-on-year in April from 3.7 percent in March, the statistics office said on Wednesday.. . .  Full story

Angola cuts tax rates for development of marginal oil fields

22/05 Angola has halved headline tax rates for marginal oil fields as part of a series of laws to drive investment and reverse declining output in Africa's second largest crude producer.. . .  Full story

Drought, armyworms cut Malawi maize crop by 19 pct - minister

21/05 Malawi's maize output declined by 19.4 percent in the 2017/18 farming year to 2.8 million tons due to damage caused by drought and crop-eating armyworms, Agriculture Minister Joseph Mwanamvekha said on. . .  Full story

Nigeria's economic growth slows for first time since end of recession

21/05 Nigeria's economic growth slowed in the first quarter of 2018 for the first time since the country pulled out of recession last year as the non-oil sector struggled, the National Bureau. . .  Full story

Malawi GDP to grow 5.1 pct this year: finance minister

18/05 Malawi's economy is expected to grow 5.1 percent in 2018, supported by more infrastructure investment and social spending, Finance Minister Goodall Gondwe said in a budget speech on Friday.. . .  Full story

Zimbabwe will not require foreign mining companies to list locally

18/05 Zimbabwe will not require foreign mining companies to list locally as previously announced and will remove the clause from a mines amendment bill now before parliament, the mines minister said on Friday.. . .  Full story

Zimbabwe will not require foreign mines to list locally: mines minister

18/05 Zimbabwe will not require foreign mining companies to list locally as previously announced and will remove the clause from a mines amendment bill now before parliament, the mines minister said on. . .  Full story

AfDB approves $100 mln loan for Nigeria's Indorama Eleme

17/05 The African Development Bank has approved a $100 million loan for Nigeria's Indorama Eleme Fertilizer & Chemicals aimed at helping it boost fertilizer production, the bank said in a statement on Thursday.. . .  Full story

Mauritius 2017 unemployment falls to lowest since 2008

17/05 The unemployment rate in Mauritius fell to 7.1 percent last year from 7.3 percent in 2016, its lowest level since 2008, official data showed on Thursday.. . .  Full story

Gunmen kill Ethiopia country manager of Nigeria's Dangote

17/05 Unidentified gunmen killed the Ethiopia country manager of Nigeria's Dangote Industries on Wednesday after he was attacked in the restive Oromiya region while returning to the capital from Ethiopia's largest cement factory, officials said.. . .  Full story

Tunisia's central bank holds key rate unchanged at 5.75 percent

16/05 Tunisia’s central bank said on Wednesday it kept its key interest rate unchanged at 5.75 percent.. . .  Full story

World Bank sees Uganda growth at 5.5 pct in year to June

16/05 Uganda's economy is expected to grow around 5.5 percent in the fiscal year ending in June and the pace of expansion could accelerate to 6 percent in the next 12 months. . .  Full story

Mauritius' MCB Group's 9-month pretax profit up 3 pct

15/05 Mauritian bank MCB Group reported a 3.1 percent rise in nine-month pretax profit on Tuesday, helped by higher net interest income.. . .  Full story

Nigerian annual inflation falls to more than two year low in April

15/05 Annual inflation in Nigeria stood at 12.48 percent in April, its lowest level in more than two years and its 15th straight monthly drop, the National Bureau of Statistics said on. . .  Full story

Nigeria issues crude oil contracts expected to last 2 years

14/05 Nigeria's state oil firm NNPC has issued crude export contracts that are expected to last two years instead of the usual one year, trading sources familiar with the matter said on Monday.. . .  Full story

Angola plans to privatise more than 70 companies in medium term: prospectus

11/05 Angola plans to privatise 74 state companies over the next few years, predominantly those in the industrial sector, according to the prospectus sent to investors as part of the country's Eurobond. . .  Full story

Angola plans to privatise more than 70 companies in medium term –prospectus

11/05 Angola plans to privatise 74 state companies over the next few years, predominantly those in the industrial sector, according to the prospectus sent to investors as part of the country's Eurobond issuance.. . .  Full story

South Sudan appoints Dier Ngor as central bank governor

10/05 South Sudan has appointed Dier Ngor as its new central bank governor, President Salva Kiir said in a statement.. . .  Full story

Rwanda's inflation rises to 1.7 percent in April

10/05 Rwanda's year-on-year inflation rose to 1.7 percent in April from 0.9 percent in March, the statistics office said on Thursday.. . .  Full story

Mozambique's inflation slows to 2.33 percent y/y in April

09/05 Mozambique's annual consumer price inflation slowed to 2.33 percent year-on-year in April from 3.05 percent in March, the National Institute of Statistics said on Wednesday.. . .  Full story

Coffee faces a double threat to its existence in eastern Ethiopia

09/05 For generations, farmers planted the lush earth of Awedai and nearby areas in eastern Ethiopia with coffee trees, earning a livelihood from a crop that is now the country's main export.. . .  Full story

Mauritius 2017 FDI jumps 28 pct yr/yr: central bank

08/05 Foreign direct investment (FDI) in Mauritius grew faster in 2017 than earlier reported, driven by inflows into real estate, revised central bank data showed on Tuesday.. . .  Full story

Zambia to complete 50 MW World Bank solar project in September

08/05 Zambia will complete its first large-scale 50 megawatt (MW) solar power generation plant in September this year as the nation battles a power deficit which threatens industrial output, a state-owned agency. . .  Full story

Tanzanian inflation dips in April

08/05 Tanzania's inflation rate eased in April from March as prices of food and non-alcoholic drinks rose more slowly, the country's statistics office said on Tuesday.. . .  Full story

Burkina Faso on track for GDP growth of around 6 pct this year: IMF

08/05 Burkina Faso's economy is on track to grow by around 6 percent this year, in line with the last two years' average, the International Monetary Fund said in a statement on. . .  Full story

Seychelles inflation slows to 4.18 percent in April

08/05 Seychelles year-on-year inflation slowed to 4.18 percent in April from 4.66 percent the previous month, the statistics office said on Tuesday.. . .  Full story

Kenya's fiscal deficit seen dropping to 5.7 pct of GDP in 2018/19

07/05 Kenya's budget deficit is expected to drop to 5.7 percent of GDP in the 2018/19 (July-June) fiscal year from 7.2 percent this fiscal year, estimates sent to parliament by the Treasury. . .  Full story

Tunisian annual inflation rises to 7.7 pct in April, record level

05/05 Tunisia’s annual inflation rate rose to 7.7 percent in April from 7.6 percent in March, official data showed on Saturday, to hit a record level.. . .  Full story

Zambia 2018 maize output to fall about 34 percent - government

05/05 Zambia’s maize production for the 2017/2018 crop season will fall to 2.39 million tonnes from 3.61 million tonnes produced in the previous season largely due to drought, a government survey said. . .  Full story

Malawi's president says economy to grow by 6 percent in 2019

04/05 Malawi's economy will grow by as much as 6 percent in 2019 from a 4 percent expansion expected in 2018, President Peter Mutharika said on Friday, in remarks ahead of the. . .  Full story

Kenya private sector activity jumps in April - Markit

04/05 Kenya's private sector activity jumped in April, continuing its recovery after months of slowdown last year due to a prolonged and volatile election period, a survey showed on Friday.. . .  Full story

Ethiopia inflation falls to 13.7 percent in April -Stats Office

04/05 Ethiopia’s year-on-year inflation rate fell to 13.7 percent in April from 15.2 percent the previous month, its statistics agency said on Thursday.. . .  Full story

Pace of Uganda's private sector activity weaker on lower orders, output

04/05 Economic activity in Uganda's private sector slowed in April from the previous month, undermined by lower output and fewer new orders in the industry, services and retail segments, a survey showed. . .  Full story

Nigeria's Forte Oil falls to one-week low on divestment plans

03/05 Shares of Nigeria's Forte Oil fell to one-week low on Thursday after the energy firm announced plans to seek a shareholder vote to divest subsidiaries in Nigeria and Ghana.. . .  Full story

World Bank grants Kenya $1 bln loan for infrastructure projects

03/05 The World Bank said on Thursday it had given Kenya a $1 billion concessional loan for energy, transport and water infrastructure projects in poorer regions in its north and northeast.. . .  Full story