Africa Business

Geingob wins 56.3% of vote in Namibian presidential election - Electoral Commission

30/11 Namibia's incumbent President Hage Geingob has won 56.3% of the vote in the 2019 presidential election, the Electoral Commission of Namibia (ECN) said on Saturday.. . .  Full story

AfDB approves $210 mln loan for Nigeria's power transmission project

30/11 The African Development Bank (AfDB) has approved a $210 million loan to help Nigeria upgrade its dilapidated electricity transmission and distribution network.. . .  Full story

Kenyan shilling under pressure from end month importer demand

29/11 The Kenyan shilling was under pressure on Friday from end month dollar demand from merchandise importers and the energy sector, traders said. At 1003 GMT, commercial banks quoted the. . .  Full story

Kenya's annual inflation rises to 5.56% in November

29/11 Kenya's annual inflation jumped in November as the price of food and alcoholic drinks rose, the statistics office said on Friday.. . .  Full story

Kenya Power, KenGen delay annual results on auditor-general appointment

29/11 Kenya Power and Lighting and Kenya Electricity Generating Co (KenGen) on Friday said there would be a further delay in their full-year results as the appointment of a new auditor general will not be finalised. . .  Full story

Kenya's parliament approves an extra 78 bln shillings in spending

29/11 Kenya's parliament has approved 78.14 billion shillings ($769.85 million) in extra spending requested by the Treasury in its revised budget for the 2019/20 financial year.. . .  Full story

Kenya Power annual results delayed on auditor-general appointment

29/11 Kenya Power and Lighting Co Ltd, the country's main power distributor, on Friday said the selection and appointment of the auditor general will not be completed by November-end, delaying the company's. . .  Full story

Libya's El Feel oilfield suffered "minor damage", production restarted - NOC

28/11 Libya's National Oil Corporation (NOC) said on Thursday that facilities at El Feel oilfield suffered only "minor damage" in fighting over the past two days, allowing for production to restart.. . .  Full story

Kenyan shilling weakens on end month dollar demand

28/11 The Kenyan shilling weakened on Thursday due to a surge in end month dollar demand from merchant importers and the energy sector, traders said. At 1112 GMT, commercial banks. . .  Full story

Zimbabwe president U-turns on scrapping grain subsidies - state media

28/11 Zimbabwe President Emmerson Mnangagwa's government will scrap its plan to remove grain subsidies next year, a move it says will protect impoverished citizens from rising food prices, state media reported on Thursday.. . .  Full story

Kenya's Centum banks on real estate after H1 profit trebles

28/11 Kenya's Centum Investment Company Plc expects real estate sales and higher income from other investments to lift its earnings in its next financial year, it said on Thursday, after first-half profit trebled.. . .  Full story

Production at Libya's El Feel oilfield gradually restarting - engineers

28/11 Production at Libya's 70,000-barrels per day (bpd) El Feel oilfield was gradually restarting on Thursday after a shutdown due to clashes, two field engineers told Reuters.. . .  Full story

GAIA Infrastructure Capital HY HEPS 18.06 Cents

28/11 GAIA Infrastructure Capital Ltd:. . .  Full story

Kenya's Centum's first-half pretax profit trebles

28/11 Kenya's Centum Investment Company Plc said on Thursday its first-half pretax profit trebled to 7.72 billion shillings ($76.06 million), boosted by higher income from its private equity and investment businesses.. . .  Full story

Libya's NOC says production at El Feel oilfield halted because of air strikes

27/11 Libya's National Oil Corporation said it had halted production on Wednesday at the 70,000 barrels per day El Feel oilfield because of air strikes.. . .  Full story

Kenyan shilling weakens on increased importer demand

27/11 Kenya's shilling weakened on Wednesday due to increased dollar demand from importers in sectors like energy, traders said. At 1213 GMT, commercial banks quoted the shilling at 102.60/70, from Tuesday's close. . .  Full story

Etion HY HEPS 0,97 Cents

27/11 Etion Ltd:. . .  Full story

Nigeria holds rates after border closures spur inflation

26/11 The Nigerian central bank left its benchmark lending rate on hold at 13.5% on Tuesday, after a government decision to close borders with neighbouring countries sent inflation to a 17-month high. . .  Full story

Tanzania secures $1 bln syndicated loan from TDB bank for infrastructure

26/11 Tanzania has received a $1 billion syndicated loan arranged by the Trade and Development Bank for infrastructure projects and is seeking an additional $500 million from the regional lender, the presidency said.. . .  Full story

Uganda's coffee exports rise 8% in October from a year ago

26/11 Uganda's coffee exports rose 7.8 percent in October compared to the same month a year earlier, helped by higher yields from Robusta trees, the regulator UCDA said in a report seen. . .  Full story

Wescoal HY Headline Loss Per Share 11.9 Cents

26/11 Wescoal Holdings Ltd:. . .  Full story

Nigeria's SecureID taps into Africa's move from cash to plastic

25/11 Sub-Saharan Africa lags other regions such as Asia in moving away from cash to plastic money. One Nigerian company is aiming to close that gap by tapping into a growing appetite. . .  Full story

Nigeria to issue guarantee note to lenders to Bank of Industry -minister

21/11 Nigeria will issue a sovereign guarantee note worth 500 million euros to Credit Suisse and a syndicate of international lenders, the minister of state of finance, budget and national planning said. . .  Full story

Algeria to cap wheat imports in bid to save foreign currency

21/11 Algeria has decided to cap soft wheat imports at 4 million tonnes a year, instead of 6.2 million tonnes, the government said in a statement.. . .  Full story

Momentum Metropolitan Q1 Diluted Normalised HEPS Up 13% Y-o-Y

21/11 Momentum Metropolitan Holdings Ltd :. . .  Full story

Morocco’s rail operator to sell Marrakech's La Momounia hotel to cut debt

20/11 Morocco's rail operator ONCF plans to sell the five-star La Mamounia hotel in Marrakech to other state institutions to help cut its $1 billion debt burden, its director general said on Wednesday.. . .  Full story

Kenya raises 66 bln shillings from state corporations for budget

20/11 Kenya's Treasury has raised 66 billion shillings ($650.89 million) out of a target of 78 billion in dividends and retained earnings from state corporations, the acting finance minister said on Wednesday.. . .  Full story

Ivory Coast 2019/20 cotton output expected to hit record 510,000 T

20/11 Ivory Coast's cotton output for the 2019/2020 season is forecast to hit a record 510,000 tonnes, up from about 468,000 tonnes in the previous season, the cotton ginners' association said on. . .  Full story

Zambia raises benchmark lending rate by 125 basis points to 11.5%

20/11 Zambia's central bank raised the country's benchmark lending rate by 125 basis points to 11.5% on Wednesday, citing rising consumer price inflation and the need to restore macroeconomic stability.. . .  Full story

Indequity Group FY HEPS 97.01 Cents

20/11 Indequity Group Ltd:. . .  Full story


20/11 PPC Ltd:. . .  Full story

Kenya's tea output drops 8.5% in first nine months of the year

19/11 Kenya's tea production fell 8.5% in the first nine months of the year to 316.80 million kilogrammes, from the same period a year earlier, mainly due to dry weather conditions, the. . .  Full story

Rhodes Food Group FY Diluted HEPS 83.8 Cents

19/11 Rhodes Food Group Holdings Ltd:. . .  Full story

Zimbabwe central bank cuts main lending rate to 35% from 70% -statement

18/11 Zimbabwe's central bank cut its main lending rate to 35% from 70% effective Wednesday after a meeting of the monetary policy committee, which said the inflation outlook was positive despite a. . .  Full story

Botswana cuts 2019 economic growth forecast

18/11 Botswana's economy is expected to grow by 3.6% this year, President Mokgweetsi Masisi said on Monday, down from a previous forecast of 4.3%.. . .  Full story

Food prices push Nigerian annual inflation up to 11.61 pct in Oct

18/11 Higher food prices after borders with neighbouring countries were closed in a crackdown on smuggling pushed up annual inflation in Nigeria last month.. . .  Full story

Astral Foods FY HEPS R16.74

18/11 Astral Foods Ltd:. . .  Full story

Capital Appreciation HY HEPS 3.43 Cents

18/11 Capital Appreciation Ltd:. . .  Full story

Pioneer Food Group FY HEPS 511 Cents

18/11 Pioneer Food Group Ltd:. . .  Full story

Barloworld FY HEPS 1 100 Cents

18/11 Barloworld Ltd:. . .  Full story

IMF agrees lending programme with DR Congo

16/11 The International Monetary Fund and Democratic Republic of Congo's government agreed on Friday to a financial assistance package that would allow the IMF to resume lending to Congo for the first. . .  Full story

IMF says lending programme agreed with Democratic Congo

15/11 An International Monetary Fund delegation said on Friday that it had agreed terms with Democratic Republic of Congo for a financial assistance package that would allow the IMF to resume lending. . .  Full story

Zimbabwe October inflation soars to 38.75% mth/mth - Zimstats

15/11 Zimbabwe's month-on-month inflation rate soared to a four-month high of 38.75% in October from 17.7% the previous month, propelled by a surge in the prices of food and alcholic beverages, statistical agency Zimstats said on. . .  Full story

Nigerian stocks rise to five-week high as banks rally

14/11 Nigerian stocks rose 1.84% to a five-week high on Thursday, powered by demand for stocks in the relatively liquid banking sector.. . .  Full story

Zimbabwe to lower value added tax from January - finance minister

14/11 Zimbabwe will cut value added tax (VAT) to 14.5% from 15% effective January 2020 in order to boost consumer demand, Finance Minister Mthuli Ncube said on Thursday in a budget statement.. . .  Full story

Kenya's KCB Group's nine-month profit rises 6%

13/11 Kenya's biggest bank by assets KCB Group reported on Wednesday a 6% increase in net profit for the first nine months of this year to 19.2 billion shillings ($187.59 million.. . .  Full story

Kenya's KCB Group's nine-month net profit jumps 6%

13/11 Kenya's KCB Group posted a 6% increase in its net profit to 19.2 billion shillings ($187.59 million) compared with a year earlier, it said on Wednesday.. . .  Full story

Zimbabwe bans new electric water heaters to save energy

13/11 Zimbabwe is banning the installation of new electric water heaters in a bid to save power, energy regulations published on Wednesday showed, at a time when the country is enduring rolling. . .  Full story

Kenya's budget update sees higher 2019/20 spending, deficit

13/11 Kenya's government spending will increase by 3% this financial year and its budget deficit will rise, as it reallocates money to priority projects after lowering its revenue collection target, new estimates from the Treasury showed. . .  Full story

Mozambique GDP growth seen at 5.5% in 2020 -IMF

13/11 Mozambique's economic growth rate will hit 5.5% in 2020, the International Monetary Fund forecast on Wednesday, saying the southern African nation will benefit from factors including reconstruction efforts following two devastating. . .  Full story

Kenya's finance ministry asks parliament to hike 2019/20 budget -reports

13/11 Kenya's finance ministry has requested parliament to increase the 2019/20 (July-June) budget by 86.4 billion shillings ($844 million) for power, rail and road projects, Business Daily and Daily Nation newspapers said. . .  Full story

Kenya's Silverstone Air suspends all flights

12/11 Kenya's Silverstone Air is suspending all flights effective Nov. 12, it said on Tuesday, after an accident last month badly injured a woman and an incident in which a plane was. . .  Full story

Cargo handled by Kenya's Mombasa port up 9% January-September - port operator

12/11 Kenya’s main port of Mombasa handled 9% more cargo in the first nine months of this year compared with the same period in 2018, due to greater handling capacity and more. . .  Full story

Mauritius to appoint Renganaden Padayachy as its new finance minister, Padayachy tells Reuters

12/11 Mauritius will appoint Renganaden Padayachy as its new finance minister, Padayachy told Reuters on Tuesday, days after incumbent Prime Minister Pravind Kumar Jugnauth secured another a five-year term.. . .  Full story

Novus Holdings HY HEPS 29,4 Cents

11/11 Novus Holdings Ltd:. . .  Full story

MultiChoice Group HY HEPS 341 Cents

11/11 MultiChoice Group Ltd:. . .  Full story

Congo central bank lowers 2019 GDP growth forecast to 4.6%

11/11 The Congolese central bank expects the economy to grow 4.6% in 2019, after revising down an earlier estimate of 5.1% during a policy meeting on Friday.. . .  Full story

Flurry of spot cargoes sell as new IMO rules loom

09/11 Angolan crude cargoes flew off the shelf this week as refiners mopped up heavy, sweet oil that produces high yields of fuel that will comply with new IMO rules on shipping. . .  Full story

Zambia's president vows to contain debt within sustainable levels

09/11 Zambia is committed to ensuring that debt is contained within sustainable levels through continued austerity measures, President Edgar Lungu said on Friday.. . .  Full story

Kenya's president finalises removal of rate cap for banks

07/11 Kenya's President Uhuru Kenyatta has signed a law that scraps a cap on banks' commercial lending rates which had been blamed for stalling lending to businesses, his office said on Thursday.. . .  Full story

Ghana to change laws on licences to spur oil production

06/11 Ghana plans to revise its laws on oil and gas licences in an effort to spur production and will revoke licences from four companies that have not developed their assets, its deputy energy minister. . .  Full story

Kenyan lenders target small and medium businesses with digital loans

06/11 A group of Kenyan banks on Wednesday committed 10 billion Kenyan shillings ($97 million) in loans to small and medium businesses under a new mobile phone-based loan service targeting a fast-growing. . .  Full story

Ghana to revoke four petroleum licences for lack of development - deputy minister

06/11 Ghana will revoke four petroleum exploration licences from companies that are not developing the assets, the country's deputy minister for petroleum said on Wednesday.. . .  Full story

DR Congo Hydrocarbons Minister says change of power in country encouraging investment

06/11 Democratic Republic of Congo's Hydrocarbons Minister Rubens Muhima said on Wednesday that the country's recent change in power at the ballot box had encouraged oil investment, with tenders expected to be. . .  Full story

Ghana deputy energy minister says laws must change for more offshore exploration

06/11 Ghana's Deputy Energy Minister Amin Adam said on Wednesday that domestic laws must be changed to allow companies already producing to further explore offshore areas for more oil.. . .  Full story

Uganda energy minister invites bidding on five oil blocks

06/11 Uganda's Energy Minister Irene Muloni on Wednesday invited bidding on five blocks, speaking at an African oil conference in Cape Town.. . .  Full story