Reuters Africa Business

Nigeria’s central bank pledges to keep policy tight as it holds key rate again

22 Jul 2025

By Chijioke Ohuocha and Elisha Bala-Gbogbo ABUJA (Reuters) -Nigeria’s central bank kept its monetary policy rate at 27.50% for the third consecutive time this year, pledging on Tuesday to maintain its current stance until inflation risks recede. Consumer inflation in the oil-producing West African nation fell for the third straight month in June to 22.22% …

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Nigeria partners with S&P Global for West African petroleum price index

22 Jul 2025

By Isaac Anyaogu LAGOS (Reuters) -Nigeria has partnered with S&P Global Commodity Insights to develop a regional pricing benchmark for refined petroleum products in West Africa, the country’s downstream regulator said on Tuesday. The initiative, launched at the West African Refined Fuel Conference in Nigeria’s capital Abuja, aims to create localised indices for products such …

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Stellantis to debut Leapmotor’s EVs in South Africa this year

22 Jul 2025

By Nqobile Dludla JOHANNESBURG (Reuters) -Stellantis plans to sell Chinese-branded electric vehicles developed by its partner Leapmotor in South Africa starting with the C10 from September, the company said on Tuesday. The C10 is an electric SUV with a petrol engine used purely to charge the battery. More Leapmotor models are expected to be launched …

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Mali court rejects appeal to release four Barrick employees, judge says

22 Jul 2025

BAMAKO (Reuters) -A court in Mali on Tuesday rejected an appeal by Barrick Mining to release four employees arrested last November, judge Samba Sarr said, the latest development in a long-running standoff between the Canadian firm and the Mali government over taxes and ownership of mining operations in the country. The appeal by the company, …

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Ibex, formerly Steinhoff, sells entire Pepkor stake for $1.5 billion

22 Jul 2025

JOHANNESBURG (Reuters) -Ibex Investment Holdings Ltd., formerly known as Steinhoff International, sold its entire 28% stake in South Africa’s clothing retailer Pepkor for $1.5 billion via an accelerated book-building process. The company offered about 1 billion shares worth approximately 28 billion rand or $1.6 billion, according to the terms of the deal published on Monday. …

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BHP exits $942 million Tanzania nickel project, partner Lifezone says

22 Jul 2025

(Corrects project capital costs to $942 million pre-production from $2.5 billion life of mine development costs in headline, paragraphs 1 and 3) MELBOURNE (Reuters) -BHP Group has opted to sell its interest in the $942 million Kabanga nickel project in Tanzania to its partner Lifezone Metals for as much as $83 million, Lifezone said. The …

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US stocks close higher, Treasury yields soften as tariff deadlines, earnings loom

21 Jul 2025

By Stephen Culp NEW YORK (Reuters) -Wall Street stocks advanced on Monday, while Treasury yields softened at the top of a busy week of corporate earnings reports, as tariff negotiations between the U.S. and its trading partners ramped up in the face of a fast-approaching August 1 deadline. All three major U.S. stock indexes moved …

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Morocco’s central bank explores digital currency cross-border payments

21 Jul 2025

By Ahmed Eljechtimi RABAT (Reuters) -Morocco’s central bank was exploring the use of its own digital currency for peer-to-peer and cross border payments, bank governor Abdellatif Jouahri said on Monday.  A central bank digital currency (CBDC) is controlled by the central bank, in contrast to cryptocurrencies that are usually decentralised. Cryptocurrencies have been banned in …

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AVZ Minerals says Congo deal with KoBold breaches arbitration order

21 Jul 2025

DAKAR (Reuters) -Australia-based AVZ Minerals, which holds a majority stake in the contested Manono lithium project in the Democratic Republic of Congo, said on Monday a new deal between Kinshasa and U.S.-backed KoBold Metals to develop part of the project breaches an existing international arbitration order. The DRC government said on July 18 it had …

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Zimbabwe’s spodumene exports surge 30% despite weak lithium prices

21 Jul 2025

By CHRIS TAKUDZWA MURONZI HARARE (Reuters) -Zimbabwe’s exports of spodumene concentrate, a lithium-bearing mineral essential for battery production, surged 30% in the first half of 2025 despite weak global lithium prices, official statistics show. Africa’s top lithium producer exported 586,197 metric tons of spodumene concentrate between January and June, compared to 451,824 metric tons during …

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