By Chibuike Oguh NEW YORK (Reuters) -The U.S. dollar gained against the safe-haven yen and Swiss franc on Thursday with market nerves soothed by a bilateral trade deal between the United States and the United Kingdom, while sterling reversed gains made after an interest rate cut from the Bank of England. U.S. President Donald Trump …
Dollar rises against safe-haven currencies buoyed by US-UK trade deal Read More »
BAMAKO (Reuters) -Mali owes more than $94 million to the entity managing a dam which also provides power to Senegal and Mauritania, and the debt has become “a question of life and death” for its ability to continue operating, according to a letter seen by Reuters. The funding gap raises the spectre of more electricity …
Mali pressed to pay ‘enormous’ debt for regional dam, document says Read More »
LAGOS (Reuters) -Nigeria has repaid $3.4 billion in emergency funding it received from the International Monetary Fund (IMF) to help the country cope with the impact of the coronavirus pandemic five years ago, the global lender said on Thursday. In April 2020, the IMF provided the financing to help Africa’s largest oil exporter cope with …
IMF says Nigeria repays $3.4 billion COVID-19 funding Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Thursday, boosted by optimism that U.S. President Donald Trump would seal trade deals with major partners after he announced a first agreement with Britain. U.S. and Chinese officials are set for trade talks on Saturday in a meeting that investors hope will start to dial down the …
South African rand lifted by optimism about US trade deals Read More »
KIGALI (Reuters) -Rwanda’s economy is forecast to grow at a slower pace this year than in 2024, while government spending for the 2025/26 fiscal year is expected to rise by about a fifth, Finance Minister Yusuf Murangwa said on Thursday. Murangwa said the economy is projected to expand 7.1% this year and jump to 7.5% …
Rwanda economy to grow at slower pace in 2025, finance minister says Read More »
ACCRA (Reuters) -Ghana’s currency is seen rising further in the coming week to Thursday, while Nigeria’s and Uganda’s could be broadly steady and Zambia’s may drop, traders said. GHANA Ghana’s cedi is expected to extend its recent gains, bolstered by sustained central bank support and offshore inflows. LSEG data showed the cedi trading at 13.20 …
HARARE (Reuters) -Grocery retailer OK Zimbabwe Ltd’s majority shareholders have agreed to back a $30 million rights issue to cover a “funding gap” and stabilise the company’s financial position, its chief executive said. “Most of the top five shareholders have indicated interest in following their rights,” CEO Willard Zireva told Reuters on Wednesday. Earlier this …
By Duncan Miriri and Miguel Gomes NAIROBI/LUANDA (Reuters) -A $200 million margin call by JPMorgan on Angola’s $1 billion loan at the height of the global selloff of risky assets has exposed the high costs of unorthodox financing heavily indebted African issuers have been turning to, analysts say. Africa’s debt has soared to more than …
JPMorgan’s $200 million Angola margin call reveals Africa’s new debt pains Read More »
KAMPALA (Reuters) -The Ugandan shilling was stable against the dollar on Thursday, with hard currency demand subdued across both merchandise importers and interbank players, traders said. At 0821 GMT commercial banks quoted the shilling at 3,655/3,665, unchanged from Wednesday’s close. (Reporting by Elias Biryabarema; Editing by)
(Reuters) -Britain’s Airtel Africa on Thursday said it expects to list Airtel Money, its mobile money services unit, in the first half of the calendar year 2026. (Reporting by Yamini Kalia in Bengaluru)
