Business news in africa today 21st november 2017

Here are some of the top business news stories in Africa for November 21st, 2017:

  1. Nigeria's Economy Grows by 0.55% in Q3: Nigeria's economy grew by 0.55% in the third quarter of 2017, according to the National Bureau of Statistics (NBS). This is the first positive growth rate since the country slipped into recession in 2016.

Source: Vanguard News

  1. South Africa's Rand Weakens Against Dollar: The South African rand weakened against the US dollar on November 20th, 2017, due to concerns over the country's economic growth and the impact of the US Federal Reserve's interest rate hike.

Source: Bloomberg

  1. Egypt's Suez Canal Revenue Reaches $5.6 Billion: The Suez Canal Authority announced that revenue from the canal reached $5.6 billion in the first half of the 2017-2018 fiscal year, a 10.5% increase from the same period last year.

Source: Reuters

  1. Kenya's Safaricom Launches Mobile Money Service in Tanzania: Safaricom, Kenya's largest mobile network operator, has launched its mobile money service, M-Pesa, in Tanzania. The service allows customers to send and receive money using their mobile phones.

Source: Business Daily Africa

  1. Ghana's Inflation Rate Rises to 12.7%: Ghana's inflation rate rose to 12.7% in October 2017, up from 11.6% in September, according to the Ghana Statistical Service. The rise in inflation is attributed to increases in food and fuel prices.

Source: Ghana Business News

  1. Ethiopia's State-Owned Banks to Merge: The Ethiopian government has announced plans to merge the country's state-owned banks, including the Commercial Bank of Ethiopia, the Bank of Abyssinia, and the Ethiopian Bank.

Source: Addis Fortune

  1. Tunisia's Economy Grows by 2.8% in Q3: Tunisia's economy grew by 2.8% in the third quarter of 2017, driven by a recovery in the tourism sector and an increase in agricultural production.

Source: Tunis Afrique Presse

  1. Nigerian Stock Exchange Index Falls by 0.45%: The Nigerian Stock Exchange (NSE) All-Share Index fell by 0.45% on November 20th, 2017, due to profit-taking in some stocks.

Source: The Punch

  1. South Africa's MTN Group to Sell Stake in Nigerian Unit: MTN Group, South Africa's largest mobile network operator, has announced plans to sell a stake in its Nigerian unit to raise funds for expansion and debt repayment.

Source: Business Day

  1. Egypt's Orascom Construction to Build New Airport in Sudan: Orascom Construction, an Egyptian construction company, has won a contract to build a new airport in Sudan's capital, Khartoum.

Source: Daily News Egypt