28 C
Lagos, South Africa and New York
Friday, May 29, 2020

Ethiopia to sell 40 percent of Ethio Telecom – Minister

ADDIS ABABA (Reuters) - The Ethiopian government will sell a 40 percent stake in Ethio Telecom, a monopoly operator, as part of the country’s plans for opening one of the world’s last major closed telecoms markets, State Minister of Finance Eyob Tekalign Tolina told...

Zambia’s Zesco, Chinese firm sign $548 mln solar power contracts

LUSAKA (Reuters) - Zambia’s state-owned electricity company Zesco Ltd has signed contracts worth $548 million with Power China to develop three solar power plants that will add 600 megawatts (MW) to the national grid, the company said in a statement. The three contracts are a...

SA top scientists say up to 50,000 COVID-19 deaths possible

JOHANNESBURG (Reuters) - South Africa could see up to 50,000 coronavirus deaths and as many as 3 million infections by the end of the year as the southern hemisphere winter leads to a higher rate of infection, scientific models showed on Thursday. The country already...

Tanzania lowers 2020 growth projection amid coronavirus outbreak

DAR ES SALAAM (Reuters) - Tanzania’s economy is expected to expand by 4 percent in 2020, less than an earlier projection of 6.9% due to the impact of the coronavirus, the finance minister said. The outbreak has had a particularly big impact on the country’s...

Kenya’s East African Breweries says COVID-19 may slash profit by 25%

NAIROBI (Reuters) - Kenya’s East African Breweries Limited (EABL) has said its profit after tax for the year ending June is likely to decline by 25% compared to the previous period, hurt by the coronavirus pandemic. “The COVID-19 global pandemic and the subsequent response measures...

Egypt to loan EgyptAir $127 mln to help it through coronavirus crisis

CAIRO (Reuters) - Egypt’s government will lend EgyptAir 2 billion Egyptian pounds ($127.39 million) due to the impact of the coronavirus on its operations, the finance ministry said. A member of the Star Alliance led by Germany’s Lufthansa, EgyptAir halted regular international flights on March...

Kenya central bank to hold rate-setting meeting on May 27

NAIROBI (Reuters) - The Kenyan central bank’s Monetary Policy Committee will hold its next rate-setting meeting on May 27, it said on Friday. At its April meeting, the bank cut its benchmark lending rate to 7.0% from 7.25%, saying action to cushion the impact of...

Zimbabwe to circulate higher bank notes as inflation soars

HARARE (Reuters) - Zimbabwe will introduce higher denomination bank notes to increase the amount of cash in circulation, the finance minister said in a government notice on Thursday, at a time inflation is soaring and pushing prices beyond the reach of the majority. The southern...

South African energy regulator allows Eskom to claw back $718 mln in tariffs

JOHANNESBURG (Reuters) - South African energy regulator Nersa said on Friday it will allow utility Eskom to recover 13.3 billion rand ($718 million) from customers for electricity supplied in the 2018/19 financial year, lower than what the state-owned power utility had applied for. Nersa said...

Sudan’s annual inflation rate rises to 98.81% in April – stats agency

KHARTOUM (Reuters) - Sudan’s annual inflation rate rose to 98.81% in April, up from 81.64% in March, due to rising prices of food, drink and fuel, the state Central Bureau of Statistics said on Saturday. Inflation in the country has risen in recent years, driven...