Reuters Africa Business

South African tax authorities extend jet fuel lifeline to airports

8 Aug 2025

CAPE TOWN (Reuters) -South Africa’s fuels industry body FIASA on Friday welcomed a year-long extension from tax authorities to special licences for importing and storing jet fuel, helping to avert a potential supply crisis at major airports. The Fuels Industry Association of South Africa (FIASA) said the arrangement meant its members could operate special storage …

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South African rand flat as traders await tariff updates after Ramaphosa-Trump call

8 Aug 2025

JOHANNESBURG (Reuters) -The South African rand was little changed on Friday as investors awaited details of President Cyril Ramaphosa’s telephone call with his U.S. counterpart President Donald Trump on bilateral trade. U.S. imports from South Africa face a 30% duty, the highest rate among Sub-Saharan African countries, but Ramaphosa’s office said on Thursday he had …

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South Africa’s central bank sees only modest impact from US tariffs

8 Aug 2025

By Kopano Gumbi PRETORIA (Reuters) -South Africa’s central bank believes U.S. tariffs will only have a modest impact on the country’s economic growth while leaving its inflation levels broadly unchanged, its governor said on Friday. U.S. imports from South Africa are now subject to a 30% duty – the highest rate in Sub-Saharan Africa – …

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South Africa’s Thungela flags profit plunge on weak thermal coal prices

8 Aug 2025

(Reuters) -South Africa’s Thungela Resources expects its half-year profit to fall by as much as 85%, mainly due to lower thermal coal prices as global economic uncertainty impacts energy demand, the coal miner said on Friday. Thungela said it expects headline earnings per share (HEPS) to be between 1.40-2.10 rand ($0.0789-$0.1184) in the six months …

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African Development Bank to lead efforts to raise $7.8 billion for new Ethiopian airport

8 Aug 2025

NAIROBI (Reuters) -The African Development Bank will take the lead in helping to raise $7.8 billion for a new airport in Ethiopia, the bank said. When completed in 2029, the airport will be the continent’s largest and will have the capacity to handle 100 million passengers a year. “The appointment of the African Development Bank …

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South Africa pushes ahead with new Cape nuclear plant

8 Aug 2025

CAPE TOWN (Reuters) -South Africa’s environment minister on Friday upheld a previous decision granting environmental authorisation for state-owned power utility Eskom to build and operate a new nuclear power station in Western Cape province. Environmentalists had appealed against the original 2017 authorisation for a new 4,000-megawatt nuclear power station being built at Duynefontein, close to …

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EM central banks plough on with easing in July as major peers linger

8 Aug 2025

By Karin Strohecker and Sumanta Sen LONDON (Reuters) -Emerging market central banks implemented their largest rate-cutting push in years in July, while their developed market counterparts held steady as uncertainty over U.S. trade and tariff policies reverberated across global economies. Seven central banks from a Reuters sample of 18 developing economies delivered 625 basis points …

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South Africa looks to join international diamond marketing push

7 Aug 2025

By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s cabinet has approved participation in an international effort to boost the marketing of real diamonds, responding to the increasing appeal of lab-grown gems and funded by a 1% levy on the annual revenues of diamond companies. The natural diamond market has struggled in the past three years due …

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South Africa rand buoyed by stronger gold prices as US tariffs kick in

7 Aug 2025

JOHANNESBURG (Reuters) -South Africa’s commodity-backed currency was steady on Thursday, supported by higher gold prices as investors fled to the safe-haven metal after steep tariffs imposed by U.S. President Donald Trump took effect. At 1527 GMT the rand traded at 17.7850 against the dollar, a whisker away from Wednesday’s close. U.S. imports from South Africa …

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