South Africa's Nedbank booked a $293 million writedown on the value of its west African associate Ecobank on Tuesday, and reported its slowest growth in annual profit since 2009.
South Africa's Cell C and its creditors have agreed a deal with Blue Label Telecoms and an unnamed investor that would lower the mobile phone firm's debt to 6 billion rand ($463 million), Blue Label said in a statement.
Uganda's economy will grow 5.5% in the year to June 2018, edging up from estimates for the current fiscal year thanks to lower borrowing costs and higher oil sector investments, a budget paper seen by Reuters on Monday showed.
Aid agencies must get food to close to 3 million people by July to avert a famine in Africa's Lake Chad region caused by drought, chronic poverty and Islamist insurgents Boko Haram, the United Nations said on Friday as it launched a funding appeal.
South Africa's Liberty Holdings will acquire a 75% stake in a Nigerian long-term insurer for $12m, the company said on Friday, after reporting a 38% decline in earnings.
South African lender Barclays Africa asked for forgiveness on Thursday for its role in rigging the local currency, a scandal that has raised questions over the dominance of four big local banks.
ARM Cement plans to expand grinding capacity at its one million tonne-a-year plant in Kenya by 50% over the next year to meet rising demand, its chief executive said.
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- Ghana's President Akufo-Addo says economy is in a "bad way".
- South Africa's Gordhan sees difficult political year for ruling ANC
- South African banking shares under pressure after watchdog charges
- Traders profit from Nigeria’s appetite for grasshoppers.
- IMF may consider extending Ghana aid deal, says its Ghana country head
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