Reuters Africa Business

Absa CEO targets retail growth in South Africa and scale on the continent

18 Aug 2025

By Nqobile Dludla JOHANNESBURG (Reuters) -The CEO of South Africa’s Absa Group says he will focus on modernising and building its retail banking business, promising stability after becoming the lender’s sixth new head since longstanding chief Maria Ramos left in 2019. South Africa’s third-largest bank by assets has been trying to innovate and improve performance …

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Ivory Coast cocoa grind down 31.2% year-on-year in July, exporters association says

18 Aug 2025

ABIDJAN (Reuters) -Ivory Coast’s cocoa grind dropped 31.2% year-on-year in July to 39,301 metric tons, data from exporters’ association GEPEX showed on Monday, with grinders citing poor bean quality and low volumes of the mid-crop. The total grind – part of the process of transforming cocoa beans into chocolate – from the start of the …

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Thungela expects industry-wide thermal coal output curbs due to weaker prices

18 Aug 2025

(Reuters) -Global thermal coal producers are expected to curtail output as low prices for the fossil fuel persist amid an uncertain economic outlook, South African coal miner Thungela’s outgoing CEO July Ndlovu said on Monday. South Africa’s top thermal coal exporter reported an 80% slump in its profit to 248 million rand ($14 million) in …

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MTN South Africa CEO Molapisi to switch roles to technology officer

18 Aug 2025

JOHANNESBURG (Reuters) -Africa’s biggest mobile operator MTN Group said on Monday that Ferdi Moolman, the current Group Chief Risk Officer, will succeed Charles Molapisi as CEO and Executive Director of MTN South Africa, as part of its strategic review and operating model changes. Molapisi will take up his previous role as Group Chief Technology and …

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Uganda targets higher exports with first large-scale gold mine

17 Aug 2025

KAMPALA (Reuters) -Uganda has inaugurated its first large-scale gold mine, a $250 million Chinese-owned project in the country’s east that will also refine the bullion to 99.9% purity, according to a statement from the president’s office. The landlocked east African country, which has a variety of minerals including copper, cobalt and iron ore, wants to …

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Dollar eases as data keep September rate cut on track; eyes on Trump-Putin meeting

15 Aug 2025

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar slipped on Friday as a data-heavy week wound down, keeping the case for a September Federal Reserve interest rate cut intact, while traders awaited talks in Alaska between U.S. President Donald Trump and Russian leader Vladimir Putin regarding Ukraine. The dollar, which had jumped on Thursday …

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Isuzu plans South Africa as hub for African truck production

15 Aug 2025

By Nqobile Dludla GQEBERHA South Africa (Reuters) -The South African arm of Japanese automaker Isuzu Motors aims to be the manufacturing hub of commercial trucks for the African market, helping it increase volumes and locally sourced parts, its president said on Friday. Billy Tom, President and CEO of Isuzu Motors South Africa told Reuters he …

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China’s Tsingshan to invest $800 million in its Zimbabwe steel plant

15 Aug 2025

By Chris Takudzwa Muronzi MVUMA, Zimbabwe (Reuters) -Chinese nickel producer Tsingshan Holding Group plans to invest $800 million in its steel plant in central Zimbabwe through its unit Dinson Iron and Steel Company, a top company official said at a media tour on Friday. Tsingshan, one of the world’s leading nickel producers, has already made …

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