Reuters Africa Business

Nigeria Senate approves Tinubu’s troop deployment to Benin Republic after coup bid

9 Dec 2025

By Camillus Eboh ABUJA, Dec 9 (Reuters) – Nigeria’s Senate on Tuesday gave its approval for President Bola Tinubu’s deployment of troops to Benin Republic after Benin’s government asked its bigger neighbour for help to quell an attempted coup on Sunday. Tinubu said in a letter to lawmakers that Benin’s authorities had asked for “exceptional and …

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South African rand flat following infrastructure bonds sale

9 Dec 2025

JOHANNESBURG, Dec 9 (Reuters) – South Africa’s rand traded flat on Tuesday after the government issued its first infrastructure and development finance bonds, and ahead of this week’s U.S. Federal Reserve’s policy meeting. At 1258 GMT, the rand traded at 17.06 against the dollar, little changed from its previous closing level. The National Treasury said …

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Costs of EV battery material cobalt hydroxide jump on Congo export restrictions

9 Dec 2025

By Dylan Duan and Pratima Desai SHANGHAI/LONDON, Dec 9 (Reuters) – Prices of cobalt hydroxide used to make chemicals for electric vehicle batteries have risen sharply this year due to cobalt export restrictions from top producer Democratic Republic of Congo, industry sources said. Congo suspended all cobalt exports in February, but then introduced a quota …

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South African consumer confidence improves on holiday season optimism

9 Dec 2025

Dec 9 (Reuters) – South Africa’s consumer confidence improved in the fourth quarter to hit its highest reading for 2025, helped by consumers’ appetite to spend into the holiday season, a survey showed on Tuesday. The consumer confidence index, sponsored by First National Bank (FNB) and compiled by the Bureau for Economic Research, improved to …

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Nigeria’s central bank licenses 82 exchange bureaus under new forex rules

9 Dec 2025

By Camillus Eboh Dec 9 – Nigeria’s central bank has granted final licenses to 82 exchange bureaus (BDCs) under revised guidelines, effective Nov. 27, following a sweeping crackdown last year that saw 4,173 licences revoked for regulatory breaches.  The central bank last year outlawed street-trading of foreign exchange and raised minimum capital levels for exchange bureaus …

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Angola’s wealth fund, Gemcorp to launch Africa infrastructure fund

9 Dec 2025

By Federico Maccioni and Libby George ABU DHABI/LONDON, Dec 9 (Reuters) – Angola’s sovereign wealth fund is teaming up with asset management firm Gemcorp Capital to launch a $500-million Africa-focused infrastructure fund, according to a joint statement on Tuesday.  The fund aims to make investments across the continent to get more private-sector cash into critical …

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Global pilots warn India’s rest rule exemption for IndiGo raises safety concerns

9 Dec 2025

By Allison Lampert Dec 9 (Reuters) – India’s decision to ease stricter rules on pilot rest following a wave of flight cancellations by the country’s largest carrier should be reversed due to the adverse effect of fatigue on safety, the head of global pilot union group IFALPA said. IndiGo, which controls about 65% of India’s domestic aviation …

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