Cnbcafrica news

CNBC Africa is a leading business and financial news network in Africa, providing up-to-date news, analysis, and insights on the continent's economy, markets, and business trends. Here are some recent news stories from CNBC Africa:

Top Stories

  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 and improved agricultural output.
  2. South Africa's Inflation Rate Rises to 5.9%: South Africa's inflation rate rose to 5.9% in May 2023, driven by higher food and fuel prices, according to data from 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 strong performance in the services sector and improved agricultural output.
  4. Kenya's Central Bank Keeps Interest Rates Unchanged: Kenya's Central Bank kept its benchmark interest rate unchanged at 7.5% in May 2023, citing a stable inflation outlook and a strong economy.
  5. Ghana's Economy Grows 8.3% in Q1 2023: Ghana's economy grew by 8.3% in the first quarter of 2023, driven by a strong performance in the services sector and improved agricultural output.

Market News

  1. JSE All-Share Index Rises 1.2%: The Johannesburg Stock Exchange (JSE) All-Share Index rose 1.2% in May 2023, driven by gains in the financial and industrial sectors.
  2. Nigerian Stock Exchange Index Falls 1.5%: The Nigerian Stock Exchange (NSE) All-Share Index fell 1.5% in May 2023, driven by losses in the banking and consumer goods sectors.
  3. Egypt's EGX30 Index Rises 2.1%: The Egyptian Stock Exchange (EGX30) Index rose 2.1% in May 2023, driven by gains in the banking and real estate sectors.

Business News

  1. MTN Group to Invest $1.5 Billion in Nigeria: MTN Group, a leading telecommunications company in Africa, plans to invest $1.5 billion in Nigeria over the next three years to expand its network and improve services.
  2. Shoprite to Sell Nigerian Business: Shoprite, a leading retailer in Africa, has announced plans to sell its Nigerian business to a local investor, citing challenging market conditions.
  3. Vodacom to Invest $100 Million in Mozambique: Vodacom, a leading telecommunications company in Africa, plans to invest $100 million in Mozambique over the next three years to expand its network and improve services.

These are just a few of the latest news stories from CNBC Africa. For more news and analysis, please visit the CNBC Africa website or follow them on social media.