Latest Updates from Reuters

Africa’s major central banks embarking on policy easing cycle ride

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By Vuyani Ndaba JOHANNESBURG (Reuters) – Africa’s major central banks are entering an easing cycle as they try to stimulate growth after months of drought, austerity drives and confidence issues across the continent, a Reuters poll found on Thursday. Much of southern and eastern Africa is still recovering after an El Niño-related drought wilted crops...

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Former Etisalat Nigeria, 9mobile, is open to new investors: CEO

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By Chijioke Ohuocha LAGOS (Reuters) – Telecoms group 9mobile is open to new investors but will continue to manage the business in the meantime, its chief executive said on Wednesday at an event to officially announce the company’s new name to replace Etisalat Nigeria. UAE’s Etisalat terminated its management agreement with its Nigerian business in...

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Guinea Bissau reaches $47 mln deal on submarine cable

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Africa M.E.

BISSAU (Reuters) – Guinea Bissau has agreed a memorandum of understanding with the World Bank, Orange and MTN for a $47 million project to link the country to a submarine telecoms cable connecting Africa with Europe, the government said on Wednesday. Under the agreement, French telecoms company Orange and South Africa’s MTN Group will form...

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Ghana president says will not extend three-year IMF aid programme

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ACCRA (Reuters) – Ghana will not extend its three-year aid programme with the International Monetary Fund beyond April 2018, President Nana Akufo-Addo said on Tuesday, despite continuing fiscal difficulties. The president’s announcement is a surprise turnaround after government officials said last month that Ghana was considering a request by the Washington lender to extend the...

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Leaders

South Africa’s Q1 business confidence rises 11 points to 45

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South Africa's business confidence rose in the first quarter by 11 points in a sign that the country's economy is picking up pace, a survey showed on Wednesday.

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Shell, Eni preempt any U.S. probe over Nigeria with filings

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Oil giants Royal Dutch Shell and Eni have voluntarily filed to U.S. authorities internal probes into how they acquired a giant field in Nigeria as the companies seek to fight corruption allegations in Europe and Africa.

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Barclays Africa lifts profit, looks to Nigeria for growth

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Barclays Africa Group, South Africa's No.2 lender by market value, reported a 4 percent rise in annual profit on Thursday, thanks to a substantial decline in impairments. Normalised diluted headline EPS, the primary measure of profit in South Africa that strips out one-off items, came in at 1,837.7 cents in the year ended December compared with 1,769.4 a year earlier.

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South Africa economic confidence to get a lift after cabinet reshuffle.

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Confidence in South Africa's economy will get a boost after Monday's cabinet reshuffle by President Cyril Ramaphosa returned trusted hands to crucial budget-related ministries, a Reuters poll showed on Thursday.

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Politics

Mali militia says it obtains U.S. military vehicle from Niger raid

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A Malian militia said on Wednesday it had obtained a sport utility vehicle abandoned by U.S. special forces in neighboring Niger during a deadly ambush last October, and offered to return it to the United States.

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South Africa’s Q1 business confidence rises 11 points to 45

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South Africa's business confidence rose in the first quarter by 11 points in a sign that the country's economy is picking up pace, a survey showed on Wednesday.

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Nigeria increases excise duties on tobacco and alcohol

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Nigeria's President Muhammadu Buhari has approved an increase in excise duties on tobacco and alcoholic beverages, the finance ministry said in a statement on Sunday.

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IMF tells Ghana to adopt new revenue plan before April review

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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.

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Business

South Africa’s Gold Fields ties up with Canada’s Asanko in Ghana

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JOHANNESBURG (Reuters) – South Africa’s Gold Fields will buy a near 50 percent share of Asanko Gold Inc’s Ghana subsidiary and take a stake in the Canadian miner in a $202.6 million deal announced on Thursday. Investors were cautious, questioning whether the African joint venture would make a return any time soon and sending Gold...

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Djibouti plans new container terminal to bolster transport hub aspirations

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Djibouti is in talks with French shipping company CMA CGM to develop a new container terminal at an initial cost of $660 million as part of the tiny African country's bid to expand into a sea and air transport hub for the continent.

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South Africa’s Q1 business confidence rises 11 points to 45

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South Africa's business confidence rose in the first quarter by 11 points in a sign that the country's economy is picking up pace, a survey showed on Wednesday.

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Shell, Eni preempt any U.S. probe over Nigeria with filings

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Oil giants Royal Dutch Shell and Eni have voluntarily filed to U.S. authorities internal probes into how they acquired a giant field in Nigeria as the companies seek to fight corruption allegations in Europe and Africa.

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