Reuters Africa Business

(Adds reporting credit) NAIROBI (Reuters) -Ghana’s cedi is expected to weaken against the dollar in the next week to Thursday, while the currencies of Kenya, Nigeria, Uganda and Zambia are expected to be broadly unchanged, traders said. KENYA Kenya’s shilling is expected to be steady against the dollar over the next week. Commercial banks quoted …

AFRICA-FX- Ghana’s cedi could weaken, other local currencies seen stable Read More »

By George Obulutsa and Colleen Goko (Reuters) -Japan will provide up to 25 billion yen ($169.42 million) in Samurai financing to Kenya that will be directed towards boosting the East African nation’s vehicle assembly and energy sectors, officials said on Thursday. The agreement was signed by Kenyan Foreign Affairs Minister Musalia Mudavadi and Nippon Export …

Kenya gets $169 million in Japan Samurai financing to boost industries Read More »

(Reuters) -South African miner Exxaro Resources is considering boosting shareholder returns once it completes a deal announced in May to buy manganese assets as it will no longer require a big cash buffer to fund acquisitions, its CEO said on Thursday. Its shares jumped 9% after the diversified resource company, which seeks to add critical …

Exxaro weighs bigger shareholder payouts after manganese acquisition, shares rise Read More »

JOHANNESBURG (Reuters) -Shoppers at Checkers supermarkets in South Africa could soon be cruising the aisles with “smart” trolleys that let them know how much money they are spending and include in-built payment terminals, the chain’s owner Shoprite said. Similar high-tech shopping trolleys have been rolled out or piloted in other countries including Chile via Walmart, …

Shoprite’s Checkers trials high-tech shopping trolleys in South Africa Read More »

By Jaspreet Kalra and Noel Randewich MUMBAI/SAN FRANCISCO (Reuters) -Wall Street shares dropped on Wednesday, with a tech selloff extending into a second day, while a key meeting of central bankers later this week remained in focus for currency and rates traders. The S&P 500 ended down 0.2% and the tech-heavy Nasdaq Composite slid 0.7%, …

Wall Street tech selloff deepens, European shares steady Read More »

By Nelson Banya and Nqobile Dludla JOHANNESBURG (Reuters) -A South African government trade body looking into the country’s struggling steel sector proposed import duties starting at 10% to defend the industry from an influx of imports mainly from China. The International Trade Administration Commission released its preliminary findings after a broad review of steel tariffs …

S.African trade body recommends duties to curb steel imports Read More »

NAIROBI (Reuters) -Kenya is in talks with China to convert a dollar-denominated railway loan into Chinese yuan, an aide to the Finance Minister John Mbadi told Reuters on Wednesday.  China is Kenya’s biggest bilateral lender, and the country took on the debt to construct a $5 billion high-speed railway, one of the country’s largest infrastructure …

Kenya in talks with China to convert dollar rail loan into yuan Read More »

By Siyanda Mthethwa JOHANNESBURG (Reuters) -South Africa’s rand was little moved on Wednesday, despite the country’s highest inflation reading for 10 months, as investors awaited minutes from the Fed’s July meeting and a symposium later this week that could provide U.S. monetary policy clues. The rand, like other risk-sensitive currencies, often takes cues from global …

South African rand little moved by domestic inflation data, investors await Fed cues Read More »

By Sfundo Parakozov and Anathi Madubela JOHANNESBURG (Reuters) -South Africa’s consumer price inflation rose to 3.5% year-on-year in July, driven to its highest level since September 2024 by higher food and fuel prices though still within the central bank’s target range. The increase from June’s 3.0% reading matched economists’ expectations. Food and non-alcoholic beverages inflation …

South Africa’s inflation pushed to 10-month high by food and fuel prices Read More »