African Digest

E.Guinea sells crude to Swaziland
JOHANNESBURG – Equatorial Guinea has agreed to supply Swaziland with crude oil, but the product will first need to be refined in neighbouring South Africa, the Business Report said on Friday.

Swaziland is Africa’s last absolute monarchy which analysts said has been run for years almost as a personal fiefdom by King Mswati III and now teeters on the brink of financial collapse. South Africa has offered a bailout loan but Swaziland has refused, seeing attached conditions calling for political reforms as too stringent, government officials said.SA manufacturing growsJOHANNESBURG – Growth in South Africa’s manufacturing output quickened to 2,6 per cent year-on-year in volume terms in November compared with an upwardly revised 1,2 rise rise in October, Statistics South Africa said.Compared with October, production in volume terms was up by a seasonally adjusted 2,9 per cent and rose 2,0 per cent in the three months to November compared with the previous three months.Nigeria strikes hit economy ABUJA – Nigeria’s nationwide strikes against the government’s removal of fuel subsidies is costing Africa’s second largest economy around 100 billion naira (US$617 million) a day, the central bank governor told Reuters.Nigeria removed subsidies on petrol imports on Jan. 1, more than doubling the price of petrol to around 150 naira per litre and pushing up the cost of transport, food and other goods.Lamido Sanusi said he expected inflation to rise to around 14-15 per cent by the middle of this year, up from 10,5 per cent now as the impact of subsidy removal is felt on prices. Reports: Nampa-Reuters-AP-AFP