African business news today

Here are some of the top African business news stories for today:

Economic News

  1. Nigeria's economy grows 2.3% in Q1 2023: Nigeria's economy grew by 2.3% in the first quarter of 2023, driven by a rebound in the oil sector, according to the National Bureau of Statistics.
  2. South Africa's inflation rate rises to 5.9%: South Africa's inflation rate rose to 5.9% in April 2023, driven by higher food and fuel prices, according to Statistics South Africa.

Company News

  1. MTN Group reports 12.4% revenue growth: MTN Group, a leading telecommunications company in Africa, reported a 12.4% revenue growth in the first quarter of 2023, driven by growth in its mobile money and data services.
  2. Dangote Cement reports 14.1% revenue growth: Dangote Cement, a leading cement producer in Africa, reported a 14.1% revenue growth in the first quarter of 2023, driven by increased demand in Nigeria and other African countries.

Investment News

  1. Egypt attracts $1.5 billion in foreign investment: Egypt attracted $1.5 billion in foreign investment in the first quarter of 2023, driven by investments in the energy and infrastructure sectors, according to the Egyptian Ministry of Investment and International Cooperation.
  2. Kenya's government launches $1.5 billion infrastructure bond: Kenya's government launched a $1.5 billion infrastructure bond to finance the development of roads, railways, and other infrastructure projects, according to the Ministry of Finance.

Industry News

  1. African airlines report 12.4% passenger growth: African airlines reported a 12.4% passenger growth in the first quarter of 2023, driven by increased demand for air travel, according to the International Air Transport Association (IATA).
  2. South Africa's automotive industry reports 10.3% growth: South Africa's automotive industry reported a 10.3% growth in the first quarter of 2023, driven by increased demand for vehicles and components, according to the National Association of Automobile Manufacturers of South Africa (NAAMSA).

Other News

  1. African Development Bank approves $1.5 billion loan for Nigeria: The African Development Bank approved a $1.5 billion loan for Nigeria to finance the development of its power sector, according to the bank's website.
  2. Kenya's government launches digital payment system: Kenya's government launched a digital payment system to facilitate the payment of taxes and other government services, according to the Ministry of Finance.

These are just a few of the top African business news stories for today. I hope you find them informative and useful!