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Sunday, August 9, 2020

Angola’s inflation slows to 25.18 percent year/year in August

LUANDA (Reuters) - Angola’s inflation slowed to 25.18 percent year-on-year in August from 27.29 percent in July, data on the national statistics agency’s website showed. Price increases on a month-on-month basis fell to 1.59 percent in August from 1.69 percent previously. Writing by Olivia Kumwenda-Mtambo; Editing...

South Africa’s retail sales rise 5.3 percent y/y in December

JOHANNESBURG (Reuters) - South African retail sales rose by 5.3 percent year-on-year in December, after increasing by a revised 7.9 percent in November, data from the statistics office showed on Wednesday. Analysts polled by Reuters had forecast a 4 percent year-on-year increase in retail sales...

Impairments push Lafarge Africa to 2017 loss, shares sink

By Chijioke Ohuocha LAGOS, April 9 - A 33 billion naira ($105 million) writedown on Lafarge Africa’s operations in South Africa and Nigeria pushed the cement firm to a wider loss in 2017 than the previous year, sending its shares sharply lower. The one-off impairment charge...

Kenya’s foreign exchange rate reflects true value -cenbank governor

Duncan Miriri NAIROBI (Reuters) - Kenya’s central bank governor on Wednesday dismissed a report by the International Monetary Fund (IMF) that its national currency was overvalued and said the fund had used an inappropriate method to assess the shilling’s worth. Patrick Njoroge said the foreign exchange...

Kenya’s economy expands by 5.6% in the second quarter of this year

NAIROBI (Reuters) - Kenya’s economy grew by 5.6% in the second quarter of this year, dNAIROBI, Sept 30 (Reuters) - Kenya's economy grew by 5.6% in the second quarter of this year, down from expanding 6.4% in the same period a year earlier, the...

Moody’s says S.Africa budget credit negative; central bank flags growth fears

Olivia Kumwenda-Mtambo, Alexander Winning JOHANNESBURG (Reuters) - Ratings agency Moody’s said on Monday the budget statement presented by South African Finance Minister Malusi Gigaba last week was credit negative, while a central bank official raised concerns over economic growth. Gigaba shocked markets on Oct. 25 by...

IMF tells Ghana to adopt new revenue plan before April review

ACCRA (Reuters) - Ghana must legislate new measures to boost revenues by at least 0.5 percent of gross domestic product before the IMF reviews a $918 million credit deal next month, the Fund said. International Monetary Fund (IMF) logo is seen at the IMF headquarters...

SA’s Absa PMI declines in December after power cuts

JOHANNESBURG (Reuters) - South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) fell deeper into a contraction in December, following a slump in new sales orders and business activity due to power cuts, the survey showed on Wednesday. The index, which gauges manufacturing activity in Africa’s...

African governments hurry to beat higher borrowing costs

LONDON, Feb 20 (Reuters) - Governments across sub-Saharan Africa are hitting international debt markets hard and fast to try to beat rising borrowing costs, pushing the region’s debt levels to new highs. Nigeria has raised $5.5 billion over the past three months, Kenya wants to...

Zimbabwe central bank leaves rates unchanged, bullish on inflation

MacDonald Dzirutwe HARARE (Reuters) - Zimbabwe’s central bank left its benchmark interest rate at 35% on Monday, citing moderating inflation, as it looks to print more local currency and limit the use of foreign currencies. Zimbabwe is struggling through its worst economic crisis in a decade,...
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