By Camillus Eboh ABUJA (Reuters) -Nigeria’s lower house of parliament on Thursday approved a plan to restructure 23.7 trillion naira ($52 billion) in short-term loans due to the central bank to long-term debt, a day after the Senate gave its consent. Nigerian government revenues are under pressure as oil production fell due to crude theft…
By MacDonald Dzirutwe LAGOS (Reuters) – Nigerian law student Umar Yusuf Yaru was relaxing in his apartment when he first heard gunfire last month in his Khartoum neighbourhood. For the next nine days, Yaru hunkered down alone as the Sudanese armed forces clashed with the paramilitary Rapid Support Forces (RSF), hoping the fighting would end….
JOHANNESBURG (Reuters) – Some South Africans are calling for Britain to return the world’s largest diamond, known as the Star of Africa, which is set in the royal sceptre that King Charles III will hold at his coronation on Saturday. The diamond, which weighs 530 carats, was discovered in South Africa in 1905 and presented…
By Khalid Abdelaziz, Sarah El Safty and Nafisa Eltahir KHARTOUM/CAIRO (Reuters) – The conflict shaking Sudan has dealt a crippling blow to the heart of the country’s economy in the capital Khartoum, as well as disrupting internal trade routes, threatening imports and triggering a cash crunch. Across swathes of the capital factories, banks, shops and…
By Duncan Miriri MALINDI, Kenya (Reuters) – Kenyan cult leader Paul Mackenzie lived with hundreds of followers in makeshift homes of polythene sheeting and thatch in a remote forest camp that he divided into areas with biblical names like Jerusalem and Judea, relatives of his adherents say. He told them the world as they knew…
By Dawit Endeshaw ADDIS ABABA (Reuters) -The U.N. World Food Programme has paused food distribution in Ethiopia’s war-ravaged Tigray region in response to reports that significant amounts of aid were being diverted, the agency said. The announcement follows a similar one by the U.S. Agency for International Development, which said on Wednesday it had discovered…
NAIROBI (Reuters) – Kenya’s private sector activity fell in April as both the manufacturing and services sectors slowed, with inflation and political unrest leading to a drop in consumer demand and dampening the outlook, a survey showed on Thursday. The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) fell to 47.2 from 49.2 in March. Readings…
CAIRO (Reuters) – Egypt’s current account turned a surplus for the first time in years in the October-to-December quarter as imports dropped and exports rose, the central bank said in a statement on Wednesday. Egypt imposed import restrictions during most of 2022 and continues to suffer an acute shortage of foreign currency. The current account…
By Mohamed Noureldin KHARTOUM (Reuters) – Sudan’s warring military factions agreed to a new and longer seven-day ceasefire from Thursday, neighbour and mediator South Sudan said, even as more air strikes and shooting in the Khartoum capital region undercut their latest supposed truce. Previous ceasefire pledges have ranged from 24 to 72 hours but there…
By Scott DiSavino NEW YORK (Reuters) -Oil prices sank about 5% to a five-week low on Tuesday on concerns about the economy as U.S. politicians discuss ways to avoid a debt default and investors prepare for more rate hikes this week. Brent futures fell $3.99, or 5.0%, to settle at $75.32 a barrel, while West…