MULDERSDRIFT, South Africa (Reuters) -China’s Chery Auto launched the sale of the hybrid versions of its Omoda C9 and Jaecoo J7 SUVs in South Africa on Thursday, its first new-energy vehicles in the country. The launch comes at a time of growing competition in Africa’s largest automotive market, where sales of electric and hybrid vehicles …
Chery launches Omoda and Jaecoo hybrid electric SUVs in South Africa Read More »
BAMAKO (Reuters) – A Malian court has adjourned until June 12 a hearing on whether to put the Loulo-Gounkoto gold mining complex, suspended since January due to a dispute between its owner Barrick Mining and Mali’s government, under provisional administration, a judge said on Thursday. The government’s request to appoint an administrator comes amid soaring …
Mali hearing on Barrick’s suspended Loulo-Gounkoto complex adjourned to June 12 Read More »
By Duncan Miriri NAIROBI (Reuters) -Africa Finance Corporation, a Lagos-based continental financier, will sign a deal with Italy for $320 million financing partly for a new transport corridor linking critical mineral fields with an Angolan port, its chief executive said on Thursday. AFC, which is owned by African central banks and development lenders, is the …
Africa Finance Corp to sign $320 million deal with Italy to bolster Lobito funding Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Thursday, helped by better-than-expected current account data. The country’s current account deficit stood at 0.5% of gross domestic product (GDP) in the three months to March 31, unchanged from the previous quarter, central bank data showed on Thursday. Analysts polled by Reuters had expected a wider deficit …
South African rand firms on better-than-expected current account data Read More »
NAIROBI (Reuters) -The currencies of Kenya, Ghana, Uganda and Zambia are expected to be largely steady against the dollar in the next week to Thursday, traders said. KENYA Kenya’s shilling is forecast to remain in tight ranges, as it has done since last year. The shilling traded at 129.00/50 to the U.S. currency on Thursday, …
By Duncan Miriri NAIROBI (Reuters) -African governments should turn to an estimated $4 trillion in capital held by domestic institutions like pension funds to develop much-needed local infrastructure as external funding sources wane, the Africa Finance Corporation said on Thursday. Building railways and expanding power generation are major priorities for the continent as its population …
AFC says Africa has $4 trillion local capital available to fund infrastructure Read More »
ADDIS ABABA (Reuters) -Ethiopia’s cabinet has approved a nearly 2 trillion birr ($15 billion) budget for the 2025/26 financial year starting in July, a 31% increase from the previous year, the Prime Minister’s office said on Thursday. The East African nation, which struck a four-year deal with the International Monetary Fund last July, is in …
Ethiopia’s cabinet approves 31% budget increase for 2025/26 Read More »
NAIROBI (Reuters) -Kenya’s private sector activity contracted in May for the first time in seven months, hurt by a slowing performance in the construction, wholesale and retail and services sectors, a business survey showed on Thursday. The Stanbic Bank Kenya Purchasing Managers’ Index fell to 49.6 in May from 52.0 a month earlier. Readings above …
Kenya private sector activity contracts for first time in seven months, PMI shows Read More »
KAMPALA (Reuters) – The World Bank said on Thursday it would resume funding to Uganda, nearly two years after the global lender suspended new financing to the country in response to an anti-LGBT law that imposes penalties including death and life imprisonment. The bank halted funding to the East African country in August 2023 after …
World Bank to resume Uganda funding after halt over anti-LGBT law Read More »
By Stephen Culp NEW YORK (Reuters) -Wall Street wavered and U.S. Treasury yields dropped on Wednesday as investors monitored U.S. trade negotiations and looked ahead to Friday’s critical employment report. Tech pushed the Nasdaq modestly higher, while the S&P 500 ended the session essentially flat and the Dow closed slightly lower. The dollar dipped and …
US stocks end mixed, Treasury yields dip as investors eye trade talks, jobs data Read More »
