Reuters Africa Business

JOHANNESBURG (Reuters) -The South African rand was weaker on Monday as better-than-expected domestic manufacturing data failed to offset trade concerns, with the country scrambling to secure a lower tariff rate on its exports to the United States. U.S. imports from South Africa face a 30% duty, the highest rate among sub-Saharan African countries, but President …

South African rand weakens as manufacturing beat fails to offset tariff nerves Read More »

By Duncan Miriri NAIROBI (Reuters) -Kenya has invited international development lenders to finance a $2 billion expansion of its main airport in Nairobi nine months after it cancelled a deal with India’s Adani Group after its founder was indicted in the United States. The East African nation, which is seeking new ways to finance infrastructure …

Kenya taps development banks for airport expansion after ditching Adani deal Read More »

ADDIS ABABA (Reuters) -The African Development Bank will contribute $500 million towards the financing of a new airport in Ethiopia – which is expected to be Africa’s largest when completed in 2029 – it said on Monday. State-owned Ethiopian Airlines has signed an agreement for the design of the four-runway airport near the town of …

African Development Bank to finance $500 million of Ethiopia’s new airport Read More »

CAIRO (Reuters) -Egypt’s annual urban consumer price inflation dropped to 13.9% in July from 14.9% in June, data from statistics agency CAPMAS showed on Sunday. Urban food and beverage prices were down 3% overall compared with June 2025 but rose by 3.4% against July 2024. Urban inflation on a monthly basis inched down in July …

Egypt’s annual urban consumer price inflation down to 13.9% in July, CAPMAS says Read More »

By Arathy Somasekhar HOUSTON (Reuters) -Oil held steady on Friday as markets awaited a meeting in coming days between Russian president Vladimir Putin and his U.S. counterpart Donald Trump, but prices marked their steepest weekly losses since late June on a tariff-hit economic outlook. Brent crude futures settled 16 cents, or 0.2%, higher at $66.59 …

Oil steadies on reports of US-Russia deal, ends week about 5% lower Read More »

By Chris Mfula LUSAKA (Reuters) -Zambia’s government voiced concern on Friday about the “unnecessary financial strain” that would be caused by a new rule requiring its citizens to pay bonds of up to $15,000 to obtain some types of U.S. visas.  Starting August 20, U.S. President Donald Trump’s administration will require applicants from countries with …

Zambia concerned by ‘financial strain’ of new US visa bond Read More »

(Refiles to use minister’s first surname in headline) KINSHASA (Reuters) -Democratic Republic of Congo appointed former mining executive Louis Watum Kabamba as mines minister in a cabinet reshuffle, the government said on Friday, ahead of key decisions on potential foreign investments and cobalt exports. Kinshasa is engaged in peace talks in both Washington and Doha …

Congo names veteran executive Watum as mines minister in reshuffle Read More »