Reuters Africa

By Kopano Gumbi PRETORIA (Reuters) -The South African economy recorded a minor contraction in the third quarter of this year as output fell in the agriculture, mining and construction industries, statistics agency data showed on Tuesday. The 0.2% contraction in quarter-on-quarter seasonally adjusted terms was slightly larger than the 0.1% predicted by analysts polled by …

South African economy contracts marginally in third quarter Read More »

KAMPALA (Reuters) – Uganda is planning to more than double its level of domestic market borrowing to 6.8 trillion Ugandan shillings ($1.79 billion) in the 2023/24 financial year to help finance new spending needs, the ministry of finance said. Government finances have been squeezed since the World Bank, traditionally a key source of cheap credit …

Uganda plans to double domestic borrowing in 2023/24 FY -finance ministry Read More »

NOUAKCHOTT (Reuters) – Mauritania’s former president, Mohamed Ould Abdel Aziz, has been sentenced to five years in prison for money laundering and “illicit enrichment”. Abdel Aziz led the West African country for a decade after coming to power in a 2008 coup and was an ally of Western powers fighting Islamist militants in the Sahel …

Mauritania’s former president jailed for five years for corruption Read More »

NAIROBI (Reuters) – Kenya’s private sector activity declined for a third straight month in November, a survey showed on Tuesday, as businesses struggled with soaring costs. The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) fell to 45.8 last month, from 46.2 in October. Readings above 50.0 signal growth in business activity, while those below point …

Kenya private sector activity contracts for third month in Nov -PMI Read More »

JOHANNESBURG (Reuters) – South African private sector business activity flatlined in November, with a cooling of price pressures counteracted by supply chain disruptions due to a port crisis, a survey showed on Tuesday. The S&P Global South Africa Purchasing Managers’ Index (PMI) rose to 50.0 in November from 48.9 in October. A reading above 50 …

South African business activity flatlines in November -PMI Read More »

By Kanishka Singh WASHINGTON (Reuters) – The United States on Monday expanded a visa restriction policy on Ugandan officials to include those it believes are responsible for undermining democracy and repressing marginalized groups in Uganda, while also announcing a new visa restriction policy for officials in Zimbabwe. U.S. Secretary of State Antony Blinken announced the …

US restricts visas for Uganda, Zimbabwe officials, citing repression Read More »