ABUJA, Dec 4 (Reuters) – The Nigerian, Ghanaian and Kenyan currencies are expected to be steady against the dollar in the next week to Thursday, while Uganda’s may gain and Zambia’s could slip, traders said. NIGERIA Nigeria’s naira should be stable, supported by central bank interventions in the face of steady dollar demand. The naira …
AFRICA-FX-Mixed picture for African currencies next week Read More »
By Duncan Miriri and George Obulutsa NAIROBI, Dec 4 (Reuters) – Kenya is selling a 15% stake in telecom operator Safaricom to South Africa’s Vodacom in a deal worth about $1.6 billion, the companies and the finance minister said, as the government seeks to raise cash by offloading some state assets. Facing high public debt, …
Debt-strained Kenya to sell Safaricom stake to Vodacom in $1.6 billion deal Read More »
By Ngouda Dione DAKAR, Dec 3 (Reuters) – Clashes between students and security forces at Senegal’s main university intensified on Wednesday as protesters demanded stipends and other financial aid amid the government’s ongoing fiscal challenges. Authorities at Cheikh Anta Diop University in the heart of the capital requested help from law enforcement to ensure safety …
Students in Senegal clash with security forces over financial aid Read More »
JOHANNESBURG, Dec 4 (Reuters) – The African Development Bank plans $1.78 billion of financing for Namibia over the next few years, backing projects in sectors such as transport, energy and water, a bank spokesperson said. The financing is part of the bank’s strategy to support Namibia’s economic growth over 2025-2030, and the total amount of …
African Development Bank says it plans $1.78 billion financing for Namibia Read More »
By Chibuike Oguh NEW YORK, Dec 3 (Reuters) – Global shares rose while U.S. Treasury yields fell after weak economic data solidified expectations of a Federal Reserve interest rate cut. Wall Street’s main indexes finished higher, with energy, financials and industrials stocks topping gains while technology and utilities shares were the main drag. The Dow Jones …
Stocks gain, US yields drop as markets weigh likely Fed rate cut Read More »
By Karen Brettell NEW YORK, Dec 3 (Reuters) – The euro hit an almost seven-week high against the dollar on Wednesday, boosted by data showing an expansion in euro zone business activity, while weaker than expected U.S. jobs data and expectations of further U.S. rate cuts weighed on the dollar. Business activity in the euro zone …
Euro hits almost seven-week high, dollar broadly lower Read More »
By Camillus Eboh ABUJA, Dec 3 (Reuters) – Nigeria’s cabinet has signed off on a medium-term fiscal plan that projects spending of around 54.5 trillion naira ($37.71 billion) in 2026, its minister of budget and planning said on Wednesday. The plan forecasts total federal revenue at 34.33 trillion naira, leaving a 20.1 trillion naira deficit, …
Nigeria approves fiscal plan proposing $37.7 billion 2026 budget Read More »
ABUJA, Dec 3 (Reuters) – Nigeria’s central bank announced sweeping changes to its cash management policies on Tuesday, introducing stricter withdrawal limits and scrapping fees on excess deposits in a bid to curb cash dependency and tackle security and money-laundering risks. Effective January 1, 2026, individuals will be limited to cumulative weekly withdrawals of 500,000 …
Nigeria tightens cash withdrawal limits to curb money-laundering risk Read More »
JOHANNESBURG, Dec 3 (Reuters) – South Africa’s rand was stable on Wednesday after the release of a purchasing managers’ index dealing with business conditions, while global investors keep tabs on key U.S. data before the Federal Reserve’s interest rate decision next week. At 1203 GMT, the rand traded at 17.0750 against the dollar, up roughly …
South African rand steady after slight PMI contraction Read More »
WINDHOEK, Dec 3 (Reuters) – Namibia’s central bank left its main lending rate unchanged at 6.50% on Wednesday, saying neighbouring South Africa’s decision to lower its inflation target meant it had to be extra careful about controlling price pressures. Namibia’s monetary policy is closely aligned with South Africa’s as the Namibian dollar is pegged to …
Namibia holds key rate, citing South Africa’s new inflation target Read More »
