HARARE (Reuters) – Zimbabwe will ban the export of lithium concentrates from 2027 as it extends its push for more local processing, mines minister Winston Chitando said on Tuesday. Africa’s top producer of lithium, used in batteries to power renewable energy technologies, banned the export of lithium ore in 2022 and has been pushing miners …
Zimbabwe to ban export of lithium concentrates from 2027 Read More »
By MacDonald Dzirutwe, Libby George and Julia Payne LAGOS/LONDON/BRUSSELS (Reuters) -Nigeria and Saudi Arabian oil company Aramco are struggling to reach an agreement on a record $5 billion oil-backed loan after a recent decline in crude prices sparked concern among banks that were expected to back the deal, four sources told Reuters. The facility would …
By Wendell Roelf CAPE TOWN (Reuters) -Canada-listed Africa Energy Corp is aiming to start production from South Africa’s largest gas discovery by 2033, its CEO said on Tuesday, as it forges ahead with a project former operator TotalEnergies walked away from. The company is awaiting regulatory approval for a reworked environmental authorisation to survey Block …
Africa Energy sees first output from South Africa’s largest gas field by 2033 Read More »
ADDIS ABABA (Reuters) -Ethiopia’s economy will grow slightly faster in the fiscal year that starts next month, while its budget deficit will increase marginally, its finance minister said on Tuesday. The East African nation, which is restructuring its external debt, is implementing far-reaching economic reforms backed by an International Monetary Fund loan programme. Finance Minister …
Ethiopia forecasts faster growth next fiscal year Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Tuesday despite a sharp contraction in local manufacturing output, as investors waited for more clarity on U.S.-China trade talks. At 1415 GMT, the rand traded at 17.69 against the dollar, about 0.2% stronger than Monday’s closing level. South Africa’s manufacturing output fell 6.3% year on year in …
South African rand shrugs off weak manufacturing data Read More »
By George Obulutsa NAIROBI (Reuters) -Kenya’s central bank cut its benchmark lending rate for the sixth meeting in a row on Tuesday but by a smaller margin, saying it wanted to provide further support to the economy. The Central Bank Rate was lowered by 25 basis points to 9.75%, whereas its previous cut was by …
Kenya central bank cuts key rate again but by smaller margin Read More »
JOHANNESBURG (Reuters) -South Africa’s manufacturing output fell 6.3% year on year in April, after falling by a revised 1.2% in March, statistics agency data showed on Tuesday. Factory production rose 1.9% month on month in April after falling by a revised 2.5% in March. (Reporting by Sfundo Parakozov;Editing by Alexander Winning)
By Nqobile Dludla JOHANNESBURG (Reuters) -South African telecommunication firm Telkom reported on Tuesday a 62.3% rise in full-year earnings and boosted free cash flow, allowing it to resume dividends and sweeten the pay-out with a special dividend after a four-year suspension. In 2020, the operator of South Africa’s biggest fixed-line network announced the suspension of …
South Africa’s Telkom resumes dividends, shares jump 7% Read More »
By Ben Ezeamalu IBADAN, Nigeria (Reuters) -Nigeria’s two-year-old cost of living crisis, which has seen the price of grocery staples like rice rise over 100% since 2023, has reached the relatively affluent class of dog owners, who are struggling to feed their pets because of soaring food costs. Keeping animals as pets is a recent …
Nigeria’s dog owners hit with surging pet food prices amid cost of living crisis Read More »
(Corrects session high for Brent to $67.19, from $67.12, in paragraph 2) By Stephanie Kelly NEW YORK (Reuters) -Oil prices hit multi-week highs on Monday, buoyed by a weaker U.S. dollar, while investors awaited news from U.S.-China trade talks in London in hopes a deal could boost the global economic outlook and subsequently fuel demand. …
Oil prices hit multi-week highs amid US-China trade talks Read More »
