Reuters Africa Business

CAIRO (Reuters) -Egypt’s central bank kept key interest rates unchanged on Thursday, pausing a trend of rate reductions despite inflation rates easing. The bank’s monetary policy committee held the overnight deposit rate at 24% and the lending rate at 25%, it said in a statement. The decision was in line with median forecasts in a …

Egypt’s central bank keeps key interest rates unchanged Read More »

JOHANNESBURG (Reuters) -South Africa’s rand held on to early gains on Thursday after better-than-expected manufacturing data, while investors kept a close tab on trade negotiations in =the wake of U.S. President Donald Trump’s latest tariff threats. At 1505 GMT, the rand traded at 17.74 against the dollar, up roughly 0.6% from Wednesday’s close. It kept …

South African rand retains gains after better-than-expected manufacturing data Read More »

ABUJA (Reuters) -The Nigerian, Ghanaian, Ugandan, Kenyan and Zambian currencies are expected to be stable against the dollar in the next week to Thursday, traders said. NIGERIA Nigeria’s naira is seen broadly unchanged on both the official and parallel markets, supported by central bank interventions and foreign portfolio inflows. The unit was quoted at 1,524 …

AFRICA-FX-Nigerian and Ghanaian currencies among those seen stable Read More »

By Camillus Eboh ABUJA (Reuters) -Nigeria has secured a $747 million syndicated loan, led by Deutsche Bank, to finance construction of the first phase of its planned 700-km (435-mile) coastal highway project, the finance ministry said on Thursday. Finance ministry spokesperson Mohammad Manga said the loan is the first of its size for road infrastructure …

Nigeria secures $747-million Deutsche Bank-led syndicated loan for coastal highway Read More »

CITRUSDAL, South Africa (Reuters) -U.S. President Donald Trump’s threatened 30% tariff on South African exports is set to deal an economic blow to a community he has vocally and controversially championed: white farmers. Citing false claims that white South Africans are being persecuted, Trump has cut aid to the country, publicly berated its president in …

US tariffs on South Africa set to hit white farmers Trump has embraced Read More »

By Siyabonga Sishi MASERU (Reuters) -When Limpho Lefalatsa first learned she had lost her job at a Lesotho garment factory after 12 years due to U.S. President Donald Trump’s decision to hit her tiny African homeland with a crippling tariff on its exports, she was in shock. “I thought I was going insane. It made …

Trump tariffs create national disaster for tiny Lesotho Read More »

By Caroline Valetkevitch NEW YORK (Reuters) -Major stock indexes rose on Wednesday as Nvidia briefly climbed to a $4-trillion valuation, while the euro edged lower, with the Trump administration getting closer to a deal with its biggest trading partner, the European Union. U.S. President Donald Trump issued final tariff notices to seven minor trading partners. …

Stocks climb as Nvidia hits $4-trillion valuation; euro inches lower Read More »