Reuters Africa Business Archives - Page 124 of 921

AfDB offers Morocco $116 million loan to support sustainable agriculture

21 Jul 2025 21 Jul 2025

RABAT (Reuters) -The African Development Bank said on Monday it approved a loan worth 100 million euros ($116.4 mln) to support sustainable farming led by women and young people in Morocco. The financing is intended to boost food security, and strengthen the resilience of small-scale farming against climate change, the AFDB said in a statement. …

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South African rand flat with inflation the week’s main focus

21 Jul 2025 21 Jul 2025

JOHANNESBURG (Reuters) -The South African rand held steady in early trade on Monday, with the main focus this week on inflation data that will influence the central bank’s thinking on interest rates. At 0740 GMT the rand traded at 17.7075 against the dollar, unchanged from Friday’s close. Statistics South Africa will release June inflation data …

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Zambia sees economic growth picking up to 6.4% next year

21 Jul 2025 21 Jul 2025

LUSAKA (Reuters) -Economic growth in Zambia is expected to accelerate to 6.4% next year from 5.8% this year, driven by its mining and agriculture sectors, the finance ministry said. The Southern African country’s economy is recovering from a severe regional drought, which curbed growth last year after years of protracted debt-restructuring negotiations. The finance ministry’s …

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Dollar slips against euro but maintains weekly gains

18 Jul 2025 18 Jul 2025

By Karen Brettell NEW YORK (Reuters) -The U.S. dollar slipped against the euro on Friday but held on to weekly gains, as investors weighed expected Federal Reserve policy amid signs that tariffs may be starting to increase some inflation pressures and as U.S. President Donald Trump continued to criticise Chair Jerome Powell. Data on Tuesday …

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Kenyan start-up aiming to generate carbon credits from thin air

18 Jul 2025 18 Jul 2025

By Jefferson Kahinju and Hereward Holland GILGIL, Kenya (Reuters) – In the scrublands of central Kenya, technicians monitor four large metallic tanks where steam heated by the Earth’s crust is used to pull carbon dioxide from the air in an effort to limit global warming. Sitting astride the Great Rift Valley, a tectonic scar running …

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South Africa’s Maziv valued at $2 billion after revised deal with Vodacom

18 Jul 2025 18 Jul 2025

JOHANNESBURG (Reuters) -South Africa’s Vodacom Group said on Friday its proposed acquisition of a 30% stake in fibre network operator Maziv could value the target company at up to 36 billion rand ($2 billion) after agreeing revised terms. The telecoms operator, majority-owned by Vodafone is moving closer to finalising the long-delayed deal following a breakthrough …

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KoBold Metals, backed by Bezos and Gates, secures deal for disputed Congo lithium deposit

18 Jul 2025 18 Jul 2025

DAKAR (Reuters) – KoBold Metals, the mining company backed by U.S. billionaires Jeff Bezos and Bill Gates, has signed an agreement with the Democratic Republic of Congo that positions the U.S. firm to acquire the contested Manono lithium deposit and launch large-scale critical mineral exploration, it said on Friday. The deal represents a dramatic escalation in …

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Factbox-Main points and omissions in G20 communique

18 Jul 2025 18 Jul 2025

DURBAN (Reuters) -G20 finance chiefs agreed a communique on Friday that underscored the importance of central bank independence and the role of the World Trade Organisation in advancing trade issues. Here are the key points the finance ministers and central bank governors agreed on during a two-day meeting in the coastal city of Durban, South …

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Ghana central bank notes economic recovery but takes no action at emergency MPC

18 Jul 2025 18 Jul 2025

ACCRA (Reuters) -Ghana’s central bank said on Friday that an emergency meeting of its Monetary Policy Committee on Thursday had considered whether to take immediate action but held off until a regular meeting later this month. The bank noted in a statement that a broad range of macroeconomic indicators had improved as the West African …

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South Africa’s Takealot bets on Mr D to drive on-demand delivery expansion

18 Jul 2025 18 Jul 2025

By Nqobile Dludla JOHANNESBURG (Reuters) -South African e-commerce company Takealot Group is ramping up on-demand delivery by repurposing its Mr D takeaway food platform to handle pet supplies, toys and other high-frequency purchase items in a bid to fend off growing competition. Mr D, which before the COVID-19 pandemic focused on doorstep food delivery, has …

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