By Miguel Gomes LUANDA (Reuters) -Angola’s central bank kept its main interest rate unchanged for the sixth meeting in a row on Wednesday, citing global economic uncertainty despite a slowdown in domestic inflation. The Bank of Angola has maintained its key lending rate at 19.50% since May last year. The central bank has kept policy …
Angola holds key rate for sixth straight meeting Read More »
By Ahmed Eljechtimi RABAT (Reuters) -Gotion Power Morocco, a subsidiary of Sino-European electric vehicle battery maker Gotion High Tech, will begin building its gigafactory in the north African country “within days,” the company’s Morrocan head Khalid Qalam said on Wednesday. Gotion High Tech signed an investment deal with the Moroccan government in June last year …
Gotion to begin building Morocco gigafactory ‘within days’ Read More »
JOHANNESBURG (Reuters) -The South African rand was steady on Wednesday, trading near a five-month high an hour before President Cyril Ramaphosa was set to meet U.S. President Donald Trump to try to improve relations. At 1440 GMT the rand traded at 17.9150 against the dollar, near its previous close and not far from its strongest …
South African rand near five-month high before Trump meeting Read More »
By Wendell Roelf CAPE TOWN (Reuters) -South Africa will wait for global oil prices to rise to around $100 a barrel before selling more of its strategic crude reserves, a senior energy official told Reuters. The country has been looking to sell crude since 2022, when the government cushioned consumers from high petrol and diesel …
South Africa wants $100 a barrel oil before selling more crude stocks Read More »
CAIRO (Reuters) -Two of Egypt’s largest fertiliser producers said on Wednesday they had received official notification of a two-week reduction in natural gas supply to their plants, triggering an immediate drop in production. Abu Qir Fertilizers and Chemical Industries and Misr Fertilizers Production both said in stock exchange statements that they expected output to drop …
Egypt’s fertiliser producers cut output as gas supplies slashed Read More »
ACCRA (Reuters) -Ghana’s central bank will assess whether its current monetary policy stance is enough to continue driving consumer inflation lower, governor Johnson Asiama said on Wednesday. The Bank of Ghana raised its interest rate in a surprise decision in March after a marginal decline in inflation in February. However, the bank said it would …
Ghana’s central bank to assess interest rate impact on inflation, says governor Read More »
(Reuters) -A Congolese former prime minister was convicted of embezzling millions from a huge failed agriculture venture, in one of the highest-profile corruption cases brought under President Felix Tshisekedi against the government of his predecessor. Matata Ponyo Mapon, who served as prime minister from 2012-2016 under then-President Joseph Kabila, was convicted on Tuesday in a …
Congo ex-prime minister convicted of embezzlement in huge failed farm project Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s Competition Commission recommended France’s Canal+ takeover of pay TV broadcaster MultiChoice Group be approved with conditions, clearing a major hurdle on Wednesday. If final approval is granted, the deal would be transformative for Canal+ as part of its expansion in Africa, particularly in English-speaking regions. Canal+, which spun …
Canal+ set to gain conditional approval for MultiChoice takeover Read More »
By Bhargav Acharya JOHANNESBURG (Reuters) -South Africa’s inflation rose marginally in April due to higher food prices but remained below the central bank’s target range, statistics agency data showed on Wednesday. Headline consumer inflation stood at 2.8% year-on-year last month compared with 2.7% in March, while in month-on-month terms, inflation was at 0.3% in April …
South Africa inflation rises slightly in April on food costs Read More »
By Felix Njini, Pratima Desai JOHANNESBURG/ LONDON (Reuters) -China’s CMOC Group, the world’s top cobalt mining company, called on Democratic Republic of Congo last week to lift a ban on exports of the battery metal, which is currently due to expire next month, three sources told Reuters. Congo, the world’s leading cobalt producing country, imposed …
China’s CMOC calls on Congo to lift cobalt export ban, sources say Read More »
