By Suleiman Al-Khalidi AMMAN (Reuters) – Jordan’s Bank al Etihad has acquired smaller peer Investbank in a deal that will create one of the kingdom’s biggest lenders, bank officials said on Thursday. The two banks’ boards agreed to a stock-for-stock acquisition that will create an entity with a total equity value of over $1.4 billion, …
Jordan’s Bank al Etihad to buy smaller Investbank, bank officials say Read More »
ABUJA (Reuters) -Nigeria’s headline inflation rate fell slightly in April, to 23.71% year on year from 24.23% in March, data from its statistics agency showed on Thursday. Inflation in Africa’s most populous country soared to repeated 28-year peaks last year, spurred by President Bola Tinubu’s moves to end costly subsidies and devalue the naira currency …
By Colleen Goko JOHANNESBURG (Reuters) -U.S. envoys in Africa will be rated on commercial deals struck, not aid spent, a senior State Department official said, touting it as the new strategy for U.S. support on the continent. President Donald Trump’s administration wants to eliminate trade deficits and drive mutual prosperity, African Affairs senior bureau official …
US shifting Africa strategy to ‘trade, not aid’, envoy says Read More »
By Duncan Miriri, Miguel Gomes NAIROBI/LUANDA (Reuters) -The International Monetary Fund has cut its 2025 growth forecast for Angola to 2.4%, mainly due to concerns about the impact of lower crude oil prices on the government’s finances and higher interest rates in global markets. Here is an explanation of Angola’s debt and economic challenges: WHY …
JOHANNESBURG (Reuters) -South Africa’s Public Investment Corporation (PIC) has appointed Patrick Dlamini as its new CEO, effective June 1, one of Africa’s largest fund managers said on Thursday. The PIC, which managed assets worth just over 3 trillion rand ($165.62 billion) as of September 26, and is the largest investor in companies listed on the …
South Africa’s state-owned Public Investment Corporation appoints new CEO Read More »
By Philbert Girinema KIGALI (Reuters) -Rwanda’s central bank kept its policy rate unchanged at 6.5% in a decision announced on Thursday and said it planned to start buying gold for its international reserves. Governor Soraya Hakuziyaremye told a press conference that the level of the Central Bank Rate was adequate to keep inflation within the …
Rwanda central bank holds key rate and plans to buy gold for its reserves Read More »
NAIROBI (Reuters) -The Kenyan and Nigerian currencies are expected to weaken slightly against the dollar in the next week to Thursday, while Uganda’s and Zambia’s may hold steady and Ghana’s could add to recent gains, traders said. KENYA Kenya’s shilling is forecast to fall due to increased importer demand for dollars from sectors such as …
AFRICA-FX-Kenyan and Nigerian currencies could slip Read More »
By Kissima Diagana NOUAKCHOTT (Reuters) – Mauritania’s former president, Mohamed Ould Abdel Aziz, was on Wednesday sentenced to 15 years in prison on corruption charges following an appeal to a Nouakchott court by both the state and Aziz’s defence against a sentence imposed in 2023. Abdel Aziz led the West African country for a decade …
Former Mauritanian president jailed for 15 years following appeal Read More »
KAMPALA (Reuters) -The Ugandan shilling was little-changed on Thursday although it was expected to strengthen, helped by inflows from offshore investors who participated in this week’s Treasury bond auction, traders said. At 0912 GMT, commercial banks quoted the shilling at 3,645/3,655, compared with Wednesday’s close of 3,648/3,658. (Reporting by Elias Biryabarema; Editing by George Obulutsa)
BLANTYRE (Reuters) -Malawi’s $175 million loan programme from the International Monetary Fund has been terminated after no review was completed over an 18-month period, the fund said late on Wednesday. The donor-dependent Southern African country only received an initial disbursement of $35 million under the four-year Extended Credit Facility approved in November 2023. The IMF …
Malawi’s IMF programme ends after only $35 million disbursed Read More »
