Reuters Africa Business

By Christian Akorlie ACCRA (Reuters) -Ghana has reached a deal with nine more mining companies to purchase 20% of their gold production, a government body said on Wednesday, aiming to consolidate a gold purchase programme meant to boost the country’s gold reserves and stabilise its currency. Africa’s top gold producer signed an agreement with members …

Ghana secures deal with nine more gold miners to buy 20% of their output Read More »

LUSAKA (Reuters) – Zambia’s copper production was up about 30% on the previous year in the first quarter of 2025, reaching roughly 224,000 metric tons from around 173,000 metric tons in the first quarter of 2024, Mines Minister Paul Kabuswe said on Wednesday. Kabuswe said in a statement that higher production by two big companies, …

Zambia copper production up 30% year on year in Q1, minister says Read More »

JOHANNESBURG (Reuters) -South Africa recorded a budget deficit of 13.11 billion rand ($704 million) in March, compared with a surplus of 3.36 billion rand in the same month last year, National Treasury data showed on Wednesday. ($1 = 18.6237 rand) (Reporting by Sfundo Parakozov; Editing by Hugh Lawson)

NAIROBI (Reuters) -The Kenyan shilling was broadly stable against the dollar on Wednesday, with month-end foreign exchange inflows from aid agencies and remittances offsetting importer demand, traders said. As of 0854 GMT commercial banks quoted the shilling at 129.05/55 to the U.S. currency, compared to 129.00/50 at the close of Tuesday’s session. (Reporting by Hereward …

Kenyan shilling stable, supported by month-end FX inflows Read More »

KAMPALA (Reuters) -Uganda’s proposed budget for the 2025/2026 financial year has grown 25% to 71.9 trillion shillings ($19.6 billion), compared to the previous projection of 57.4 trillion shillings given in September, the finance ministry said. The ministry did not provide a reason for the raise in a statement posted on X on Tuesday. The government …

Uganda’s 2025/26 budget up 25% from previous projection Read More »

NAIROBI (Reuters) -Kenya’s inflation rate in April rose to 4.1% year-on-year, up from 3.6% a month before, the statistics office said on Wednesday. On a monthly basis, inflation was at 0.3% in April, the Kenya National Bureau of Statistics said in a statement. Kenya’s inflation rate has risen steadily since a low of 2.7% in …

Kenya inflation rate rises to 4.1% in April Read More »

NAIROBI (Reuters) -Kenya will cap its fiscal deficit at 4.5% of GDP in 2025/26, down from 5.1% the previous year, and revise its initial budget of 4.3 trillion Kenyan shillings ($33 billion) substantially, its cabinet said on Tuesday. Last year mass protests forced President William Ruto to withdraw $2.7 billion in proposed tax hikes and …

Kenya to cap fiscal deficit at 4.5% in FY 2025/26 Read More »