Reuters Africa Business

By Nellie Peyton JOHANNESBURG (Reuters) -South Africa on Monday outlined support measures for local companies that will be hit by a 30% U.S. tariff this week, including exemptions from some competition rules and financial support facilities. It also dismissed speculation that its failure to negotiate a lower tariff was because of its local affirmative action …

South Africa outlines support measures in response to US tariffs Read More »

By Anait Miridzhanian DAKAR (Reuters) -Prime Minister Ousmane Sonko on Friday unveiled a new economic recovery plan for Senegal, pledging to finance 90% of the initiative through domestic resources and avoid additional debt. The plan, aimed at stabilizing the finances of a West African nation that began producing oil and gas last year, comes with …

Senegal unveils recovery plan to rely on domestic funding Read More »

By Karen Brettell NEW YORK (Reuters) -The dollar dropped on Friday and was on track for its biggest daily loss against the yen since January 2023 after data showed that U.S. employers added fewer jobs in July than economists had expected, while last month’s jobs gains were revised sharply lower, leading traders to ramp up …

Dollar tumbles, traders bet on more US rate cuts after weak jobs report Read More »

JOHANNESBURG, August 1 (Reuters) -The South African rand gained against a softer dollar after the United States reported weaker-than-expected jobs data, but stocks on the local bourse fell sharply as traders mulled the impact of higher tariffs on the country after it failed to clinch a trade agreement with Washington. At 1604 GMT, the rand …

South African rand recoups some losses after US jobs data, stocks fall on tariff concerns Read More »

By Nellie Peyton and Nelson Banya JOHANNESBURG (Reuters) -South Africa said on Friday it would draft measures to support exporters hit by U.S. President Donald Trump’s new 30% tariff, which is expected to trigger widespread job losses in the nation’s automotive and agriculture industries. Pretoria’s trade ministry has launched an “Export Support Desk” to assist …

South Africa plans measures to support exporters hit by Trump tariffs Read More »

JOHANNESBURG (Reuters) -South African manufacturing sentiment improved in July, a survey showed on Friday, pointing to improved business conditions in the sector for the first time in nine months. The seasonally-adjusted purchasing managers’ index (PMI) sponsored by South African bank Absa rose to 50.8 points in July from 48.5 in June. It was the first …

South Africa factory mood lifts in July, Absa PMI shows Read More »