Reuters Africa - Squid Business

Africa seeks action plan on slavery reparations at Ghana conference

ACCRA (Reuters) – Financial reparations are long overdue to Africans and the diaspora as compensation for the enslavement of people of African descent, Ghanaian President Nana Akufo-Addo said on Tuesday on the first day of a conference on how to address such historical injustices. Advocates have long called for paying reparations or making other amends …

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African online retailer Jumia’s Q3 losses narrow with further fall expected

JOHANNESBURG (Reuters) – African e-commerce firm Jumia Technologies said on Wednesday that cost savings had helped it reduce third quarter losses by 67% from a year earlier, with a further sharp drop expected this year. Jumia is aggressively cutting costs in order to turn profitable, including head count reductions, scaling back the range of products …

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Zimbabwe minibus crash leaves 22 dead, two hurt – police

HARARE (Reuters) – Zimbabwean police said 22 people were killed and two injured late on Tuesday after a minibus collided with a truck on a highway, which links the country to the South African border. The fatal accident, on the Bulawayo-Beitbridge road, involved the minibus, which was carrying 21 passengers, and the truck with one …

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S.Africa’s Multichoice profit falls, Showmax-Comcast platform to launch by early 2024

JOHANNESBURG (Reuters) -South African pay TV company Multichoice Group reported a 5% drop in half-year profit on Wednesday, hit by weaker currencies in several markets, losses at its Showmax streaming business and a lower contribution from its home country. The group, whose pay-TV business operates in 50 countries in sub-Saharan Africa, said it made core …

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Ethio Lease set to wind down operations in Ethiopia

NAIROBI (Reuters) -Equipment leasing company Ethio Lease, Ethiopia’s only foreign-owned firm to obtain a financial services licence from the central bank, said on Wednesday it was winding down operations in the east African country. The National Bank of Ethiopia granted a financial services license to Ethio Lease in 2019 – the first such for a …

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Nigeria inflation rises further in October, upping pressure on new central bank head

By Elisha Bala-Gbogbo ABUJA (Reuters) -Nigerian inflation rose for the tenth month in a row in October, increasing pressure on the new central bank governor to raise interest rates when the monetary policy committee meets for the first time since his appointment. Consumer inflation rose to 27.33% year on year in October from 26.72% in …

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UK’s Rwanda migrant resettlement plan ruled unlawful: Reactions

LONDON (Reuters) – The United Kingdom’s Supreme Court ruled on Wednesday that the government’s plan to send asylum seekers to Rwanda was unlawful, delivering a major blow to Prime Minister Rishi Sunak’s pledge to stop people arriving in small boats. Below is reaction: PRIME MINISTER RISHI SUNAK “We have seen today’s judgment and will now …

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Congo opposition parties discuss joint election candidate, fair vote

By Sonia Rolley KINSHASA (Reuters) – Representatives of Congo’s main opposition parties began talks this week in Pretoria on how to ensure the general election on Dec. 20 will be fair and to decide on a potential joint candidate to challenge President Felix Tshisekedi. A crowded opposition field of 25 candidates has been officially approved …

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South African retail sales rise 0.9% year on year in September

JOHANNESBURG (Reuters) – South African retail sales rose 0.9% year on year in September after declining by a revised 0.3% in August, Statistics South Africa figures showed on Wednesday. On a month-on-month basis, sales increased 0.1%. Sales in the three months to the end of September were down 0.1% compared with the same period last …

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Morocco’s Managem says water at cobalt mine safe, denies report on arsenic contamination

RABAT (Reuters) – Moroccan mining company Managem said on Wednesday an audit of its water supplies showed no irregularities after a German newspaper reported that toxic arsenic had been found in water samples taken from mines in the country. Managem’s Bou Azzer mine supplies German automaker BMW with cobalt, widely used in electric car batteries. …

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