Reuters Africa - Squid Business

U.S.-Africa duty-free programme needs changes -U.S. trade official

By Joe Bavier JOHANNESBURG (Reuters) – The United States should make changes to its flagship trade initiative with Africa that would increase its impact as part of a potential reauthorisation by Congress, a senior U.S. trade official said on Thursday. Launched in 2000, the African Growth and Opportunity Act (AGOA) grants exports from qualifying countries …

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Witnesses give harrowing accounts of Johannesburg fire that killed 77

By Tannur Anders JOHANNESBURG (Reuters) – An inquiry opened on Thursday tasked with determining responsibility for a fire in Johannesburg that killed 77 people, exposing the living conditions of the victims and throwing a spotlight on gangs that seize abandoned buildings and rent them out. One of the worst disasters in living memory in South …

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South African violist tackles legacy of alcohol payments to labourers

By Thando Hlophe JOHANNESBURG (Reuters) – A South African violist has used music and art to explore the painful legacy of how labourers at wineries in the Western Cape province were for centuries given wine as part of their payment, a practice known as “the Dop System.” The system, which began at the time of …

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Ethiopia PM Abiy seeks to quell neighbours’ concerns over invasion

By Dawit Endeshaw and Giulia Paravicini ADDIS ABABA / NAIROBI (Reuters) – Ethiopian Prime Minister Abiy Ahmed said on Thursday he would not invade any nation, in comments aimed at quelling neighbouring countries’ concerns that he might use force to secure access to a sea port. Abiy told state media on Oct. 13 that Ethiopia …

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London woman guilty of aiding Kenyan female genital mutilation

LONDON (Reuters) – A woman from London has been found guilty of aiding the female genital mutilation (FGM) of a young girl in Kenya, becoming the first person to be convicted in England of committing the crime overseas, British prosecutors said on Thursday. The Crown Prosecution Service (CPS) said police launched an investigation after the …

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AFRICA-FX-Ugandan, Kenyan and Zambian currencies seen sliding

NAIROBI (Reuters) – The Ugandan and Kenyan shillings and Zambia’s kwacha are expected to slip in the next week to Thursday, while Nigeria’s naira is forecast to be range-bound on the official market and Ghana’s cedi and Tanzania’s shilling broadly stable, traders said. KENYA Kenya’s shilling is forecast to weaken because of increased demand for …

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Paramilitary RSF say they have seized Sudan’s second city

CAIRO (Reuters) – The paramilitary Rapid Support Forces that have been battling Sudan’s army for control of the country said they had seized Nyala, its second largest city, on Thursday. The seizure of the capital of South Darfur state in the west of the country could mark a turning point in Sudan’s six-month war, and …

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Nigerian naira hits record black market low -abokiFx

ABUJA (Reuters) – Nigeria’s naira hit a record low of 1,300 per dollar on the black market on Thursday, online platform abokiFX showed, driven by thin trading volumes on the parallel market and dollar shortages on the official market. The naira has been in free fall on the unofficial market, where it trades freely, after …

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Kenya’s Nation Media warns on profit for this year

NAIROBI (Reuters) – Kenya’s Nation Media Group expects earnings this year to plunge by more than 25% due to higher costs and a weaker exchange rate, it said on Thursday. The group, which publishes several newspapers and operates broadcast stations and online sites, blamed “relentless increases in prices of basic commodities”, including fuel, amid a …

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South Africa’s social relief grant faces scrutiny amid spending cuts

By Kopano Gumbi JOHANNESBURG (Reuters) – South Africa’s social relief grant is likely to be extended beyond next March, economists said, which may add an unbudgeted 50 billion rand ($2.6 billion) to state expenses and require difficult trade-offs before an election year. The social relief of distress (SRD) grant of 350 rand a month was …

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