By Colleen Goko JOHANNESBURG (Reuters) -Ghana’s cedi currency has jumped more than 40% versus the U.S. dollar this year, far outperforming its African and emerging market peers, shrinking the cost of the country’s foreign debt and giving it more fiscal breathing room. The rally, which has surprised some investors, is another much-needed boost for the …
Surge in cedi currency eases Ghana’s foreign debt burden Read More »
KAMPALA (Reuters) -The Ugandan shilling was stable on Wednesday and was forecast to gain due to dollar inflows from non-governmental organisations and coffee exporters, traders said. At 0837 GMT, commercial banks quoted the shilling at 3,638/3,648, compared with Tuesday’s closing rate of 3,643/3,653. (Reporting by Elias Biryabarema; Editing by George Obulutsa)
(Reuters) – A second person died from their injuries in hospital following a fire at a Chevron-operated oil platform offshore Angola, bringing the number of fatalities to three, government and company officials said late on Tuesday. Two workers were initially transferred to specialist units at hospitals in South Africa, while the body of a third …
Three dead in Chevron’s Angolan oil platform fire Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) -Economists have cut their consensus forecast for South African economic growth this year by 0.3 percentage points in May, in the biggest single monthly downgrade since early 2023, a Reuters poll showed on Tuesday, as they factor in the impact of U.S. tariffs. The last time growth forecasts got a …
South Africa GDP growth outlook gets biggest cut since early 2023; SARB to trim rates Read More »
NAIROBI (Reuters) -Kenya’s shilling was largely unchanged against the dollar on Wednesday, as dollar inflows from companies converting the U.S. currency to pay salaries, particularly in the horticulture sector, met demand, traders said. At 0715 GMT, commercial banks quoted the shilling at 129.00/50 compared with 128.95/129.45 at Tuesday’s close. (Reporting by George Obulutsa; editing by …
Kenyan shilling steady as horticulture FX flows meet demand Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s Tiger Brands posted better-than-expected half-year earnings on Wednesday, declaring a special dividend and also announcing the sale of its maize milling business. The owner of Jungle Oats and Koo baked beans said headline earnings per share from continuing operations, a key profit measure in South Africa, rose by …
South Africa’s Tiger Brands’ half-year profit rises more than expected Read More »
By Karen Brettell NEW YORK (Reuters) -The dollar strengthened on Tuesday as the yen came under pressure from a sharp fall in Japan’s long-dated bond yields, while the greenback was boosted by data improving U.S. consumer confidence. “It’s very much being driven by global bond markets, and most recently what we’ve seen in Japan,” said …
Dollar gains, yen slips as Japanese yields tumble Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled 1% lower on Tuesday as investors worried about a supply glut after Iranian and U.S. delegations made progress in their talks and on expectations that OPEC+ will decide to increase output at a meeting this week. Brent crude futures closed down 65 cents, or 1%, at $64.09 …
Oil prices ease as US-Iran talks, OPEC+ plans spur supply concerns Read More »
DAKAR (Reuters) -Emirates Global Aluminium’s (EGA) subsidiary in Guinea has accumulated a stockpile of nearly two million metric tonnes of bauxite since the suspension of its operations last year, three sources familiar with the matter told Reuters on Tuesday. EGA, equally owned by Abu Dhabi sovereign wealth fund Mubadala, and Dubai sovereign wealth fund the …
EGA’s Guinea unit hopes for talks as bauxite stockpile nears 2 million tonnes Read More »
By Camillus Eboh ABUJA (Reuters) -Nigerian President Bola Tinubu asked parliament to approve more than $21.5 billion in foreign borrowing for its 2025-26 borrowing plan to plug financial shortfalls to boost growth, according to a letter from the president seen by Reuters. Tinubu also asked parliament to approve 2.2 billion euros ($2.5 billion) and 15 …
Nigeria’s Tinubu seeks $21.5 billion foreign borrowing to boost growth Read More »
