Reuters Africa Business

By George Obulutsa and Colleen Goko NAIROBI/JOHANNESBURG (Reuters) -Kenya’s economic growth this year is expected to exceed official forecasts despite higher U.S. tariffs and other challenges, President William Ruto said at a conference on Wednesday, where Kenya and Japan also signed a yen-denominated loan deal. The East African nation’s economy is forecast to grow by …

Kenya expects faster growth in 2025, signs yen-denominated loan with Japan Read More »

By Nelson Banya (Reuters) -Lobito Atlantic Railway (LAR) aims to finalise by the end of this year a $533 million loan deal with the U.S. International Development Finance Corporation (DFC) that is vital for the upgrade of its Angolan concession, LAR’s CEO told Reuters. The U.S. development lender pledged the loan in 2024 to support …

Trafigura-led consortium aims to finalise US loan deal by end-2025 Read More »

By Nqobile Dludla JOHANNESBURG (Reuters) -India’s Tata Motors returned to South Africa’s passenger vehicles market after a six-year absence, launching three ranges of SUVs and an entry-level compact hatchback to take on Chinese competitors. Growing demand for budget-friendly cars is luring global automakers to offer consumers more options, in a shift that spotlights rising reliance …

India’s Tata Motors returns to South African car market after six years Read More »

HOUSTON (Reuters) -Oil prices fell on Tuesday as traders bet that talks over a possible agreement to legitimize or end Russia’s invasion of Ukraine could ease sanctions on Russian crude oil, boosting global supply. Brent crude futures settled at $65.79 a barrel, down 81 cents, or 1.22%. U.S. West Texas Intermediate crude futures for September …

Oil prices fall on talks to end Russian invasion of Ukraine Read More »

By Karen Brettell NEW YORK (Reuters) -The dollar was mixed on Tuesday as traders awaited the Federal Reserve’s Jackson Hole Economic Policy Symposium later this week for further clues on U.S. interest rate policy. A speech on Friday by Fed Chair Jerome Powell is this week’s main focus, with little major economic data to drive …

Dollar mixed as traders wait on Jackson Hole Read More »

JOHANNESBURG (Reuters) -South Africa’s rand was on the back foot for much of Tuesday’s trading session as markets awaited the U.S. Federal Reserve’s upcoming Jackson Hole symposium and inflation figures from Africa’s most industrialised economy. At 1545 GMT the rand traded at 17.6625 against the dollar, down about 0.3% from Monday’s close. Fed Chair Jerome …

South African rand range-bound as markets await local inflation data, Fed signals Read More »

By Nelson Banya (Reuters) -South Africa’s Assmang is weighing the closure of its Beeshoek iron ore mine after failing to secure a contract to supply its sole customer, the ailing steel producer ArcelorMittal South Africa. The closure of the mine could result in the loss of 688 jobs, Assmang – a joint venture between African …

S.African iron ore mine faces closure as ArcelorMittal crisis weighs Read More »