Reuters Africa Business

JOHANNESBURG (Reuters) – South Africa’s government has agreed to give ailing state-owned logistics group Transnet a 51 billion rand ($2.8 billion) guarantee facility, the transport ministry said on Thursday. Transnet has struggled to provide adequate freight rail and port services for years because of equipment shortages and maintenance backlogs linked to under-investment, with cable theft …

South Africa’s Transnet gets $2.8 billion government guarantee Read More »

ACCRA (Reuters) -The Ghanaian and Ugandan currencies are expected to strengthen in the next week to Thursday, while Nigeria’s could be stable and Kenya’s and Zambia’s may fall, traders said. GHANA Ghana’s cedi is expected to firm further, underpinned by strong hard-currency inflows from remittances and continued central bank support. LSEG data showed the cedi …

AFRICA-FX-Ghana and Uganda currencies could gain Read More »

KAMPALA (Reuters) -Uganda has signed a $800 million financing agreement with the Islamic Development Bank to support projects, including a planned railway, that aim to boost the landlocked east African country’s trade, its finance ministry said. The railway will connect to neighbouring Kenya’s Standard Gauge Railway and on to the Indian Ocean port of Mombasa. …

Uganda signs $800 million financing deal with Islamic Development Bank Read More »

By Isaac Anyaogu LAGOS (Reuters) -The Dangote Petroleum Refinery and Petrochemicals said it will partner with Vinmar Group, an international petrochemicals distribution company, to bring Dangote polypropylene to global markets. Dangote’s $2 billion Petrochemical Plant in Lagos with 830MT tonnes capacity, began producing polypropylene in March, in 25kg bags for the local market. “We’re pleased …

Nigeria’s Dangote refinery agrees to export polypropylene with Vinmar Read More »