Reuters Africa Business Archives - Page 127 of 921

Ghana’s cocoa regulator warns of production drop amid heavy rains

15 Jul 2025 15 Jul 2025

By Emmanuel Bruce ACCRA (Reuters) -Ghana’s cocoa regulator said on Tuesday that increased disease incidence caused by prolonged rainfall and not enough sunlight could lead to moderate production decline, after farmers called for state intervention to mitigate the impact of bad weather. The West African country, the world’s second-biggest cocoa producer, has seen output fall …

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South African rand firms after local mining data, US inflation print

15 Jul 2025 15 Jul 2025

JOHANNESBURG (Reuters) -The South African rand firmed on Tuesday after the release of better-than-expected local mining production figures and as U.S. data showed rising inflation in June in the world’s largest economy. At 1311 GMT, the rand traded at 17.7775 against the dollar, 0.7% firmer than Monday’s close. South Africa’s mining output rose 0.2% year-on-year …

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Namib Minerals plans to spend $300 million to restart Zimbabwe mines

15 Jul 2025 15 Jul 2025

By CHRIS TAKUDZWA MURONZI HARARE (Reuters) -Namib Minerals plans to spend $300 million to restart operations at two of its mothballed gold mines in Zimbabwe and lift production, its chief executive Ibrahima Tall told Reuters on Tuesday. Namib Minerals owns three gold mines in Zimbabwe, including the How mine, which is currently in operation. Tall …

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Moroccan healthcare company Vicenne’s IPO oversubscribed 64 times

15 Jul 2025 15 Jul 2025

RABAT (Reuters) -The initial public offering (IPO) of Moroccan healthcare company Vicenne was oversubscribed 64 times, the Casablanca stock exchange said on Tuesday. The offering, the first IPO this year, attracted more than 32 billion dirhams ($3.5 bln) in demand for 500 million dirhams in shares. The IPO drew 37,674 investors, including more than 36,000 individual investors from 49 different …

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Traders largely shrug off tariffs before US consumer price data

14 Jul 2025 14 Jul 2025

By Karen Brettell NEW YORK (Reuters) -The euro dipped on Monday and the dollar gained against a basket of currencies, as traders largely shrugged off new tariffs ahead of key U.S. inflation data on Tuesday. U.S. President Donald Trump threatened on Saturday to impose a 30% tariff on imports from Mexico and the European Union …

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Italy’s Chianti wine makers eye South America, Asia amid Trump tariff threat

14 Jul 2025 14 Jul 2025

MILAN (Reuters) – Producers of Italy’s renowned Chianti wine have demanded a new export strategy backed by the EU targeting markets such as South America, Asia and Africa following U.S. President Donald Trump’s threat of additional tariffs on European imports. Italy currently exports more wine to the U.S. than any other country, but producers are …

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South African car exports to U.S. plunge as Trump tariffs bite

14 Jul 2025 14 Jul 2025

JOHANNESBURG (Reuters) -South African car exports to the United States dropped sharply in the first quarter of 2025, and tumbled more than 80% in April and May after import tariffs imposed by U.S. President Donald Trump hit automakers’ sales, industry association naamsa said. The United States is South Africa’s second-largest trading partner and key destination …

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South African rand wobbly as tariff uncertainty hangs over markets

14 Jul 2025 14 Jul 2025

JOHANNESBURG -The South African rand was mostly on shaky ground on Monday as investors mulled over U.S. President Donald Trump’s latest tariff threats. At 1358 GMT the rand traded at 17.89 against the dollar, about 0.3 stronger than Friday’s close, after trading uncomfortably closer to the 18 rand per dollar mark earlier in the day. …

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Mozambique paves way for TotalEnergies to restart $20 billion LNG project, report says

14 Jul 2025 14 Jul 2025

MAPUTO (Reuters) -Mozambique has created the necessary conditions for the resumption of TotalEnergies’ $20 billion liquefied natural gas project in the country, the country’s energy minister was quoted as saying by Portuguese news agency Lusa on Monday. TotalEnergies, which halted construction in 2021 after an Islamic State-linked insurgency attack threatened its Afungi site in the …

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ArcelorMittal South Africa says little progress made to avert plant closure

14 Jul 2025 14 Jul 2025

(Reuters) -Talks with the South African government have so far yielded little progress to avert the closure of loss-making long steel operations at ArcelorMittal South Africa, the company said on Monday. The South African unit of world number two steelmaker ArcelorMittal SA initially said in November 2023 it planned to close the two plants, citing …

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