Business news in africa today

Here are some of the top business news stories in Africa 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 agricultural 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.
  3. Egypt's Economy Grows 5.6% in Q1 2023: Egypt's economy grew by 5.6% in the first quarter of 2023, driven by a recovery in the tourism sector and increased government spending, according to the Central Agency for Public Mobilization and Statistics.

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 10.4% Revenue Growth: Dangote Cement, a leading cement producer in Africa, reported a 10.4% revenue growth in the first quarter of 2023, driven by increased demand in Nigeria and other African countries.
  3. Shoprite Holdings to Sell Nigerian Business: Shoprite Holdings, a leading retailer in Africa, has announced plans to sell its Nigerian business to a local investor, as part of its strategy to focus on its core operations in South Africa.

Investment News

  1. African Development Bank to Invest $1 Billion in Renewable Energy: The African Development Bank has announced plans to invest $1 billion in renewable energy projects across Africa, as part of its efforts to promote sustainable development and reduce carbon emissions.
  2. International Finance Corporation to Invest $100 Million in African Startups: The International Finance Corporation, a member of the World Bank Group, has announced plans to invest $100 million in African startups, as part of its efforts to promote entrepreneurship and innovation on the continent.
  3. China to Invest $60 Billion in African Infrastructure: China has announced plans to invest $60 billion in African infrastructure projects over the next three years, as part of its efforts to promote economic cooperation and development on the continent.

Other News

  1. Kenya's Central Bank Raises Interest Rates to 8.5%: Kenya's Central Bank has raised interest rates to 8.5% to curb inflation and support the country's economic growth.
  2. South Africa's Reserve Bank Keeps Interest Rates Unchanged: South Africa's Reserve Bank has kept interest rates unchanged at 3.5%, citing concerns about the impact of higher interest rates on the country's economic growth.
  3. Egypt's Stock Market Rises 2.4%: Egypt's stock market rose 2.4% on Monday, driven by gains in the banking and real estate sectors.

These are just a few of the top business news stories in Africa today.