Reuters Africa Business

By Chibuike Oguh NEW YORK (Reuters) -The U.S. dollar rose against major currencies on Wednesday as data supported market expectations of a Federal Reserve interest rate cut, while the pound sterling fell amid a selloff in British government bonds. Traders were also positioning ahead of the Labor Department’s employment report for June, due to be …

US dollar rises, British pound falls as markets weigh trade deals, Fed rate cut Read More »

By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose 3% on Wednesday as Iran suspended cooperation with the U.N. nuclear watchdog and the U.S. and Vietnam reached a trade deal, but a surprise build in U.S. crude supplies limited price gains somewhat. Brent crude settled $2.00 higher, or 3%, to $69.11 a barrel, while U.S. …

Oil prices jump 3% as Iran suspends cooperation with UN nuclear watchdog Read More »

(Fixes typo in byline) By Libby George LONDON/DAKAR (Reuters) -The International Monetary Fund said it remained engaged with Senegal as the West African country’s prime minister promised a recovery plan to clean up billions in debts that were not disclosed by the previous administration.  The IMF, a key financier for the debt-laden country, froze disbursements …

IMF says it remains engaged with Senegal, Sonko promises ‘recovery plan’ Read More »

ADDIS ABABA (Reuters) -Ethiopia said on Wednesday it had agreed a memorandum of understanding with its Official Creditor Committee that formalises an initial debt restructuring deal reached earlier this year. The debt rework offers relief of more than $3.5 billion, the finance ministry said in a statement. The Horn of Africa nation opted to restructure …

Ethiopia says it formalises debt rework with official creditors Read More »

By Karin Strohecker LONDON (Reuters) -Nigeria needs to adapt its 2025 budget to lower oil prices and scale up cash transfers to shield the most vulnerable parts of its population that face hunger and poverty, the International Monetary Fund said on Wednesday. Releasing the results of its routine “Article IV” assessment of Nigeria’s economic policies, …

Nigeria needs to recalibrate its budget for lower oil prices, says IMF Read More »

LONDON (Reuters) -Kenya is planning to privatise some state assets via initial public offerings in order to bring in more private sector investment, President William Ruto said in remarks at the London Stock Exchange on Wednesday. The government plans to start with listing the Kenya Pipeline Company via an IPO on the Nairobi Securities Exchange …

Kenya looks to privatise state assets to draw private-sector investments, says President Ruto Read More »

ACCRA (Reuters) -Ghana’s consumer inflation slowed for the sixth month in a row in June to 13.7% year-on-year, its lowest level since December 2021, the statistics service said on Wednesday. Government statistician Alhassan Iddrisu told a news conference that the underlying causes of inflation were cooling, and the downward shift over the last six months …

Ghana consumer inflation slows to lowest level since 2021 Read More »