By Felix Njini JOHANNESBURG (Reuters) -Harmony Gold, South Africa’s top gold producer by volume, has agreed to buy Australian miner Mac Copper Ltd in a deal worth $1.03 billion as it steps up a diversification into copper. Johannesburg-based Harmony said it is offering $12.25 per Mac Copper share in the cash deal, a 20.7% premium …
Harmony Gold agrees to buy Australian Mac Copper for $1 billion Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened against a stronger dollar on Tuesday, hurt by lower gold prices as risk sentiment improved following U.S. President Donald Trump’s decision to postpone tariffs on the European Union. At 1510 GMT, the country’s commodity-backed currency traded at 17.8900 against the dollar, about 0.2% softer than its previous close. Meanwhile …
By Nqobile Dludla and Bhargav Acharya JOHANNESBURG (Reuters) -South Africa is not planning to water down its Black economic empowerment laws just to suit Elon Musk’s Starlink, a minister said on Tuesday, responding to criticism of policy changes he announced days after President Cyril Ramaphosa met Donald Trump. The policy changes would allow communications companies, …
South Africa is not changing policy to suit Musk’s Starlink, minister says Read More »
By Sonia Rolley (Reuters) – Congo is grappling with soaring military costs and declining tax revenues due to an offensive by Rwandan-backed rebels, who now occupy much of the country’s eastern borderlands, a revised wartime budget under consideration by lawmakers showed. The International Monetary Fund said this month that the fighting was straining public finances, …
Congo faces rising military costs, tax shortfall in revised ‘combat budget’ Read More »
By Saliou Samb CONAKRY (Reuters) – Guinea’s military government has cancelled 129 minerals exploration permits, it said in a statement late on Monday, as the West African nation tightens control over its assets. A senior official at the Ministry of Mines said the decision was taken to free unused resources for other investors. “We’ve simplified …
Guinea cancels 129 exploration permits, further tightening control Read More »
KAMPALA (Reuters) -The Ugandan shilling was flat against the dollar on Tuesday, data from London Stock Exchange Group showed. At 0844 GMT the shilling traded at 3,644/3,654 against the dollar, the same level as Monday’s close. (Reporting by Elias Biryabarema; Editing by George Obulutsa)
NAIROBI (Reuters) -The Kenyan shilling held steady against the dollar on Tuesday, data from the London Stock Exchange Group showed. At 0651 GMT, the shilling traded at 129.00/50, compared with Monday’s closing rate of 128.94/129.45. (Reporting by George Obulutsa; editing by Elisha Bala-Gbogbo)
JOHANNESBURG (Reuters) -South African discount retailer Pepkor Holdings reported on Tuesday a 12.4% rise in half-year earnings, while revenue grew 12.8%, supported by improved product availability and strong growth in cellular connectivity. The owner of PEP and Ackermans clothing brands said headline earnings per share (HEPS) from continuing operations rose to 84.3 cents in the …
South Africa’s Pep owner Pepkor reports 12.4% earnings rise Read More »
By Duncan Miriri NAIROBI (Reuters) -The World Bank has cut Kenya’s growth forecast for this year by half a point from its initial prediction to 4.5%, it said on Tuesday, citing high levels of debt, high lending rates and a decline in private sector credit. Kenya, which is East Africa’s biggest economy, has recorded robust …
World Bank cuts Kenya’s 2025 growth forecast as private sector squeezed Read More »
RABAT (Reuters) – Kenya said on Monday it supports Morocco’s plan to give the disputed region of Western Sahara autonomy under the North African kingdom’s sovereignty, joining a growing number of African, Arab and Western countries that have tilted towards backing Rabat in the five-decade conflict. The long-frozen conflict, dating back to 1975, pits Morocco, which …
Kenya backs Morocco’s autonomy plan for Western Sahara, joint statement says Read More »
