TUNIS (Reuters) -Tunisia’s central bank said on Friday it has kept its benchmark interest rate unchanged at 7.5%, after cutting it from 8% in March for the first time in five years amid intense pressure from President Kais Saied. Tunisia’s inflation rate fell to 5.9% in March and then to 5.6% in April, reaching its …
Tunisia’s central bank keeps key interest rate unchanged at 7.5% Read More »
(Reuters) -Ethiopia and the International Monetary Fund have reached a staff-level agreement on the third review of the country’s $3.4 billion loan programme from the lender, the Fund said on Friday. Once approved by the IMF’s Executive Board, Ethiopia will gain access to another $260 million in financing. “The (Ethiopian) authorities’ policy actions in the …
Ethiopia, IMF staff agree programme review that could unlock $260 million Read More »
JOHANNESBURG (Reuters) -The South African rand retreated on Friday following strong recent gains, but analysts said the outlook for the currency remained positive. The rand traded at 17.94 against the dollar at 1340 GMT, about 0.7% weaker than Thursday’s closing level. The currency was hurt by dollar strength, as well as investor uncertainty over U.S. …
South African rand falls back after strong gains Read More »
By Isaac Anyaogu LAGOS (Reuters) -Nigerian President Bola Tinubu has signed an executive order introducing a performance-driven framework for oil sector operators, designed to link tax incentives directly to verifiable cost savings. Under the new Upstream Petroleum Operations Cost Efficiency Incentives Order 2025, operators who successfully implement industry-standard cost reductions in onshore, shallow water, …
Nigeria offers oil tax relief for cost-cutting measures Read More »
NAIROBI (Reuters) -Kenya’s shilling strengthened slightly on Friday, helped by dollar inflows from remittances although the gains were limited by increased foreign-currency demand from general goods importers, traders said. At 0639 GMT commercial banks quoted the shilling at 128.80/129.30 per dollar, compared with Thursday’s closing rate of 129.00/129.50. (Reporting by George Obulutsa;Editing by Alexander Winning)
JOHANNESBURG (Reuters) -South African pharmacy chain Dis-Chem Pharmacies reported a 20% increase in full-year earnings on Friday, and also declared a final dividend of 27.85 cents. The group’s headline earnings per share, a key profit measure in South Africa, increased to 137.5 cents for the year ended February 28, up from 114.6 cents a year …
South Africa’s Dis-Chem Pharmacies posts annual profit jump, declares final dividend Read More »
KAMPALA (Reuters) -Uganda plans to borrow a total of 500 million euros ($568 million) from three lenders including Afreximbank to finance infrastructure development, Finance Minister Matia Kasaija said. Lawmakers on Thursday approved the government request to acquire the loans despite resistance from opposition lawmakers who have criticised the country’s growing debt burden. At least 270 …
Uganda says it will borrow 500 million euros, including from Afreximbank Read More »
By Divya Rajagopal TORONTO (Reuters) -Barrick Mining has asked the arbitration tribunal of the World Bank to intervene in legal proceedings in Mali, as the miner faces the possibility of the Loulo-Gounkoto mine falling under the control of the Mali government. Barrick’s move comes as a local court in Mali is expected to rule on …
Barrick asks World Bank court to intervene in Mali proceedings Read More »
ACCRA (Reuters) -Ghana asked Afreximbank to sit down for debt treatment talks with the gold producing nation and its advisors in a letter sent last week by the finance minister and seen on Thursday by Reuters. “The objective of these discussions is to identify debt treatment solutions that are acceptable to Afreximbank, while ensuring that …
Ghana asks Afreximbank to discuss debt treatment Read More »
(Reuters) – JPMorgan has named HSBC’s former global head of mergers and acquisitions, Kamal Jabre, as its new M&A Vice Chair to drive expansion across Europe, the Middle East and Africa (EMEA), according to a memo seen by Reuters on Thursday. Alongside Jabre, the bank also named insider Marc Pandraud, who joined JPMorgan from Deutsche …
JPMorgan hires former HSBC dealmaker Kamal Jabre to drive EMEA growth Read More »
