By Africanews According to figures released this Wednesday by Statistics South Africa, retail sales in the country fell 0.8% year on year in January after falling by a revised 0.5% in December. On a month-on-month basis, sales increased 1.5%. The numbers are relevant as they offer an insight into consumer demand in Africa’s most industrialised…
By Rédaction Africanews By multiplying the heavy infrastructure projects in Africa, China, and Russia aim to establish their influence in the countries of the continent, which risk their part to find themselves “trapped”, warn experts. Railway lines, and civil infrastructure: China is multiplying gigantic projects in cooperation with African states, of which it is becoming…
On March 9, 2023, 9:11 AM A German company says it has signed a memorandum of understanding for a $34bn (£29bn) green energy project in Mauritania. Egyptian and Emirati firms are also part of the deal. The facility will produce up to eight million tonnes of green hydrogen and other hydrogen-based products annually in Mauritania….
Staff Writer, Agence France-Presse (AFP) March 7, 2023 South Africa’s economy shrank 1.3 percent in the final three months of 2022 to return below pre-pandemic levels as record power shortages hit activity, official data showed Tuesday. “After rallying in the third quarter of 2022, South African gross domestic product (GDP) declined by 1.3 percent in…
Camillus Eboh, Reuters News March 4, 2023 ABUJA – Nigeria’s Supreme Court on Friday ordered the central bank to extend until Dec. 31 the use of old banknotes, whose withdrawal from circulation became an election issue after it caused cash shortages, widespread hardship and anger. The timing left many Nigerians fed up, hungry and exhausted right…
The South African Reserve Bank (SARB), the country’s central bank, said it is committed to the fight against money laundering. The SARB made the remarks in a statement on Friday after the Financial Action Task Force, a global money laundering and terrorist financing watchdog, placed South Africa on the grey list of jurisdictions under increased…
AP , Monday 27 Feb 2023 French President Emmanuel Macron will unveil on Monday his country’s changing economic and military strategy in Africa in the coming years, as France’s influence substantially declines on the continent. Macron is expected to call for a more balanced partnership with African nations, in a speech at the Elysee presidential…
Alexander Winning, Reuters News February 27, 2023 The South African rand was weaker on Monday, extending losses from the week before, when a global financial crime watchdog added South Africa to its list of countries needing special scrutiny. At 0645 GMT, the rand traded at 18.4700 against the dollar, about 0.2% weaker than its previous…
Reuters JOHANNESBURG, Feb 21 (Reuters) – The South African rand was slightly weaker on Tuesday, with investors awaiting the finance minister’s budget speech due the following day that is likely to provide cues on the government’s policy trajectory. At 0639 GMT, the rand traded at 18.1325 per dollar, about 0.18% weaker than its previous close…
The deal is the largest signed by the company to date as it continues to expand its order book Abu Dhabi Ship Building (ADSB), which is part of defence conglomerate Edge, has signed its largest defence export contract to date, worth €1 billion ($1.06 billion), to supply three 71-metre corvettes and other vessels to the Angolan Navy. The…
