Reuters Africa Business

South African rand softer as investors eye inflation expectations survey

2 Jul 2025

JOHANNESBURG (Reuters) -The South African rand weakened against a stronger dollar in early trade on Wednesday, ahead of the release of a domestic inflation expectations survey, while U.S. jobs data and trade negotiations remained in focus. At 0630 GMT the rand traded at 17.6250 against the dollar, about 0.2% weaker than Tuesday’s close. South Africa’s …

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South African assets lifted by signs of progress on lower inflation target

1 Jul 2025

JOHANNESBURG (Reuters) -South Africa’s rand and government bonds firmed on Tuesday, buoyed by investor optimism over signs of progress towards a lower inflation target. At 1535 GMT the rand traded at 17.6475 against the dollar, up about 0.3% on Monday’s closing level. It earlier struck its best level since November and is up more than …

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African Development Bank to give South Africa $475 million loan

1 Jul 2025

JOHANNESBURG (Reuters) -The African Development Bank will give South Africa a $474.6 million loan to upgrade its transport and energy infrastructure, the bank said on Tuesday, the second big infrastructure loan the country has been promised in weeks. The money adds to the $1.5 billion loan South Africa agreed with the World Bank last month …

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South African manufacturing sentiment shows tentative improvement in June

1 Jul 2025

JOHANNESBURG (Reuters) -A gauge of South African manufacturing sentiment showed signs of improvement in June, reaching its second-highest level this year though output is still weak and logistics bottlenecks remain, a survey showed on Tuesday. The seasonally-adjusted purchasing managers’ index (PMI) sponsored by South African bank Absa rose to 48.5 points in June from 43.1 …

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South Africa seeks extension of Trump tariff deadline to pursue trade deal

1 Jul 2025

JOHANNESBURG (Reuters) -South Africa has asked for more time to negotiate a trade deal with U.S. President Donald Trump’s administration before his higher tariff regime goes into effect on July 9, Pretoria’s trade ministry said on Tuesday. Trump imposed a 31% tax on U.S. imports from South Africa in April as part of his global …

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Exclusive-Most packaged food in Kenya would need health warning label under new rules, report says

1 Jul 2025

By Jennifer Rigby LONDON (Reuters) -Almost all of the packaged food and drink sold in Kenya by local and international companies would require a health warning label under newly drafted government rules, according to an independent report shared with Reuters. Kenya released its nutrient profile model this month, and committed to using it to develop …

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Dollar hits near 4-year low versus euro, weighed by worries over tax bill, trade deal

30 Jun 2025

(Adds missing word “the” in first paragraph, corrects nickname for the Swedish krona in paragraph 5, corrects verb tense in paragraph 6) By Chibuike Oguh NEW YORK (Reuters) -The dollar hit a near four-year low against the euro on Monday amid worries over the rising U.S. government deficit and uncertainty surrounding trade deals with major …

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Oil edges down on easing Middle East risks but gains for a second month

30 Jun 2025

By Georgina McCartney HOUSTON (Reuters) -Oil prices edged down on Monday as investors weighed easing Middle East risks and a possible OPEC+ output increase in August. Both Brent and U.S. crude oil benchmarks posted their biggest weekly declines since March 2023 last week but rose for the second consecutive month, gaining around 6% and 7% …

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Mali completes takeover of gold mines abandoned by foreign companies

30 Jun 2025

BAMAKO (Reuters) -Mali has completed its takeover of the Yatela and Morila gold mines abandoned by their previous owners, the government announced at the weekend, but questions remain over how any untapped value can be released. The takeovers and failure to disclose how the operations will be funded highlight the complex challenges facing Mali as …

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