What’s trending

South Africa’s GDP, Nigeria’s LPG market, banking in Kenya, cars in Egypt and more

Business, economic and corporate news roundup

South Africa’s GDP expanded by only 0.2% in the period between July to September compared with a revised 3.5% in the second quarter. Household expenditure increased by 2.6% in Q3 after increasing by 1.4% in the previous quarter.

A study shows Nigeria’s Liquefied Petroleum Gas (LPG) market can grow its penetration and market share by 32 per cent from 400,000 metric tonnes per annum (MTPA) to 3 million MTPA within five years.

Price increases swept across Egypt’s automotive industry in November on account of increased import prices after the Central Bank of Egypt decided to float the Egyptian pound, more than doubling the value of the US dollar.

Kenya’s Central Bank will resume licensing of new banks. The regulator froze issuing of banking licenses in November 2015 on concerns that most local banks were undercapitalized.

Investors see little hope in Mozambique meeting an end-year dead-line to restructure its debt. The country is facing a debt crisis.

Corporate news

There are reports that Dangote’s $500 million cement plant in Tanzania has shut down.

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