(This May 26 story has been corrected to change the conversion to cubic feet, not cubic metres, in paragraph 2) By Wendell Roelf CAPE TOWN (Reuters) – South Africa has offered to buy liquefied natural gas from the United States over a 10-year period as part of proposals to secure a trade deal, according to …
South Africa proposes buying US LNG as seeks trade deal Read More »
NAIROBI (Reuters) -Ghana’s cedi is forecasted to gain strength in the coming week, bolstered by continued remittance inflows and interventions from the central bank, while Kenya’s shilling is expected to remain steady, and Nigeria’s naira to stay range-bound, traders said. GHANA The cedi currency has jumped more than 40% versus the U.S. dollar this year, …
AFRICA-FX- Ghana’s cedi to strengthen further next week Read More »
By Sfundo Parakozov JOHANNESBURG (Reuters) -South Africa’s rand, government bonds and stocks strengthened on Thursday after the South African Reserve Bank (SARB) trimmed its main lending rate, citing well-contained inflation. At 1525 GMT, the rand traded at 17.8050 against the dollar, roughly 1% stronger than Wednesday’s closing level, and hovering around a five-month high. The …
South African assets firm after central bank trims lending rate Read More »
By Colleen Goko and Kopano Gumbi JOHANNESBURG (Reuters) -South Africa’s central bank believes it has reached a “neutral zone” on interest rates after its latest cut and now needs government reforms to spark stronger economic growth, Reserve Bank officials said on Thursday. Africa’s most industrialized economy has grown by less than 1% annually on average …
South African rates in ‘neutral zone’ after latest cut, central bank deputy says Read More »
JOHANNESBURG (Reuters) -South Africa’s SPAR Group plans to sell its retail businesses in Switzerland and in the United Kingdom after completing a strategic review of its European operations, the retail and wholesale group said on Thursday. The group, which owns several SPAR country licences of the Dutch SPAR group, has been trimming its international operations …
South Africa’s SPAR plans to sell Swiss and UK retail businesses Read More »
By Duncan Miriri NAIROBI (Reuters) -The African Development Bank will launch a carbon markets support facility for the continent, senior bank officials said on Thursday, to unlock finance for a region increasingly impacted by climate change-linked droughts and storms. The Africa Carbon Support Facility, which is still at the design stage, will have two components, …
African Development Bank to launch carbon credits support facility Read More »
By Sfundo Parakozov, Kopano Gumbi and Alexander Winning PRETORIA (Reuters) -South Africa’s central bank was unexpectedly decisive in cutting interest rates on Thursday, with all members of its Monetary Policy Committee backing a cut as they doubled down on their preference for a lower inflation target. The South African Reserve Bank (SARB) cut its repo …
South African central bank cuts rates and doubles down on lower inflation target Read More »
By Ope Adetayo ABUJA (Reuters) -Nigerian President Bola Tinubu on Wednesday marked his second anniversary in office by declaring that his economic reforms were working, but international bodies have warned of persistent economic and security problems. Since 2023, Tinubu’s policies – the removal of a costly petrol price subsidy, cuts to electricity price subsidies, and …
Nigeria’s Tinubu touts economic gains at mid-term but inflation and insecurity persist Read More »
RABAT (Reuters) -Bank of Africa, Morocco’s third-largest lender, reported a 26% increase in profit attributable to shareholders to 920 million dirhams ($99.5 million) in the first quarter, driven by a rise in net banking income. Net banking income rose 11% to 5 billion dirhams, the bank said, noting an improvement in interest and fee margins. …
Morocco’s Bank of Africa reports 26% rise in first-quarter profit Read More »
JOHANNESBURG (Reuters) -South Africa’s producer inflation was at 0.5% year on year in April, unchanged from March, statistics agency data showed on Thursday. The Producer Price Index increased 0.5% month on month in April, Statistics South Africa said. (Reporting by Kopano Gumbi and Sfundo Parakozov;Editing by Alexander Winning)
