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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

CNBCAfrica

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Africa

World Bank Cuts Kenya’s Growth Forecast to 4.7%

CNBCAfrica says the World Bank on revised Kenya’s 2024 economic growth projection down to 4.7% from an earlier estimate of 5.0%, attributing the downgrade to the effects of floods, anti-government protests, and sluggish fiscal reforms on Tuesday. Despite progress in stabilizing the exchange rate, increasing central bank reserves, and reducing inflation, Kenya remains at a high risk of debt distress, according to the bank's latest report.

todayDecember 11, 2024 7

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Africa

South32 Halts Forecast for Mozal Aluminium Amid Mozambique Unrest

Australian firm South32 has withdrawn its production forecast for the Mozal Aluminium smelter in Mozambique, citing escalating violence following disputed October election results according to CNBCAfrica. The unrest has led to road blockages, disrupting the delivery of raw materials to the plant, where South32 holds a 63.7% stake. Protests by opposition supporters have fueled the instability.

todayDecember 11, 2024 11

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Africa

Protests Intensify in Mozambique After Controversial Election Results

  Protests have intensified in Mozambique following the disputed victory of the Frelimo party in the October 9 election. CNBCAfrica says with over 56% voter abstention, clashes between police and protesters have resulted in at least 30 deaths, while human rights groups condemn the government's violent crackdown on demonstrators. Independent candidate Venancio Mondlane, whose supporters believe the election was rigged, has called for more protests.

todayNovember 18, 2024 12

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Africa

Nigeria’s Dangote Oil Refinery Holds 500 Million Litres of Petrol

  Nigeria's Dangote oil refinery possesses a reserve of 500 million litres of petrol, according to its billionaire founder, refuting assertions from marketers that they require additional imports to address fuel shortages. CNBCAfrica indicates that, in response to the situation, Nigeria's President, Bola Tinubu, convened a meeting on Tuesday in Abuja with oil regulators, the head of the state-owned NNPC, the finance minister, and Aliko Dangote.  

todayOctober 31, 2024 8

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