Reuters Africa Business

Nigerian oil producer Oando completes pipeline repairs after spills

13 May 2025

By Tife Owolabi ABUJA (Reuters) -Nigerian oil producer Oando has completed repairs on its pipeline in the oil-rich Bayelsa state after four oil spill incidents caused by sabotage in recent weeks, the company said on Tuesday. The company activated emergency responses immediately after each spill, shutting down affected wells, halting crude delivery and deploying containment …

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Angola’s $1 billion loan from JPMorgan cost below 9%, finance ministry says

13 May 2025

By Miguel Gomes LUANDA (Reuters) -A loan to Angola from JPMorgan, which was the subject of a $200 million margin call during a market selloff caused by U.S. trade tariffs, cost just below 9%, the finance ministry said. This was less than what the country would have paid for conventional debt, the ministry added. It …

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Egypt’s Suez Canal offers 15% discount for big container ships to win back trade

13 May 2025

CAIRO (Reuters) -Egypt’s Suez Canal will offer a 15% discount on transit fees for container ships with net tonnage of at least 130,000 metric tons, to encourage trade back now the security situation has eased and help ships offset rising insurance costs, its authorities said on Tuesday. The discounts will be applied from May 15 …

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France’s Orano files lawsuit over staff detention in Niger

13 May 2025

(Reuters) -French uranium miner Orano said on Tuesday it had filed a lawsuit with the Niger courts over the “arbitrary arrest, illegal detention and unjust confiscation of property” involving its staff and assets in the country. Niger and neighbouring Mali and Burkina Faso have been stepping up pressure on foreign mining companies over the past …

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Ugandan shilling unchanged; traders await central bank rate decision

13 May 2025

KAMPALA (Reuters) -The Ugandan shilling was unchanged on Tuesday, propped by some commodity dollar inflows and subdued demand from both importers and commercial banks, traders said. Market participants were also holding back from taking positions while awaiting cues from the central bank’s latest lending rate announcement later on Tuesday, traders added. At 0738 GMT, commercial …

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French development agency to invest in Morocco-ruled Western Sahara

13 May 2025

By Ahmed Eljechtimi RABAT (Reuters) -The French Development Agency (AFD) said it would invest 150 million euros ($167 million) in Western Sahara in 2025-2026, following Paris’ recognition of Morocco’s sovereignty over the disputed desert territory. The long-frozen conflict, dating back to 1975, pits Morocco, which considers the territory as its own, against the Algeria-backed Polisario …

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Kenya shilling gains slightly versus dollar, LSEG data shows

13 May 2025

NAIROBI (Reuters) -Kenya’s shilling firmed slightly against the dollar on Tuesday, data from the London Stock Exchange Group showed. At 0709 GMT, the shilling traded at 128.80/129.40, compared with Monday’s closing rate of 129.00/50. (Reporting by George Obulutsa; editing by Elisha Bala-Gbogbo)

South Africa coal miner Exxaro agrees deal to buy manganese assets

13 May 2025

JOHANNESBURG (Reuters) -Exxaro Resources said on Tuesday it has reached an agreement to buy manganese mines in South Africa in a deal worth 11.67 billion rand as it diversifies into green transition minerals. The South African coal miner entered into a binding agreement to buy shares and claims in manganese assets held by Ntsimbintle Holdings …

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Egypt’s Suez Canal mulls discounts on transit fees to bring back traffic

12 May 2025

CAIRO (Reuters) – Egypt’s Suez Canal Authority chief, Osama Rabie, said the authority is considering offering discounts ranging from 12% to 15% on transit fees to help restore traffic in the strategic waterway reeling from attacks by Yemen’s Houthis on Red Sea shipping. Rabie told privately owned Sada al-Balad television channel in a phone interview …

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