Reuters Africa Business

Abundant Ivory Coast rains signal promising end to cocoa mid-crop, farmers say

28 Apr 2025

ABIDJAN (Reuters) – Above average rainfall last week across most of Ivory Coast’s main cocoa growing regions is expected to boost the development of the April-to-September mid-crop, farmers said on Monday. Ivory Coast, the world’s top cocoa producer, has entered its April to mid-November rainy season, a period when showers are abundant and often heavy. …

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Kenyan shilling unchanged versus dollar, LSEG data shows

28 Apr 2025

NAIROBI (Reuters) -The Kenyan shilling remained unchanged on Monday compared to its previous session, data from the London Stock Exchange Group (LSEG) showed. At 0753 GMT, the Kenyan shilling was quoted at 129.10/129.50, same level as Friday’s close. (Reporting by Elias Biryabarema; Editing by Bate Felix)

Demand from energy importers expected to weigh on Ugandan shilling

28 Apr 2025

KAMPALA (Reuters) -The Ugandan shilling remained largely steady on Monday, with a marginal tilt towards weakness, due to increased demand for hard currency from energy importers, according to traders. Commercial banks quoted the shilling at 3,662/3,672 at 0741 GMT, compared to Friday’s close of 3,661/3,671. (Reporting by Elias Biryabarema; Editing by Bate Felix)

Exclusive-Ethiopia expects preliminary deal on IMF review within days, finance minister says

28 Apr 2025

By Karin Strohecker WASHINGTON (Reuters) -Ethiopia expects to reach a preliminary agreement on the third review of its $3.4 billion loan programme with the International Monetary Fund early this week and sees formal debt talks with bondholders starting in summer, State Finance Minister Eyob Tekalign told Reuters. The East African nation, which struck a four-year, …

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Tanzania lifts ban on agriculture imports from South Africa, Malawi

26 Apr 2025

DAR ES SALAAM (Reuters) -Tanzania has lifted a ban on imports of agricultural produce from Malawi and South Africa, it said late on Friday, days after imposing it in retaliation for similar measures imposed by the two southern African nations. Tanzania Plant Health and Pesticides Authority (TPHPA)’s director general, Joseph Ndunguru, said that Tanzania was …

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Nigerian tribunal upholds $220 million fine against Meta for violating consumer, data laws

26 Apr 2025

By Camillus Eboh ABUJA (Reuters) -A $220 million fine against Meta Platforms by Nigeria’s competition watchdog for violating local consumer, data protection and privacy laws has been upheld following an unsuccessful appeal, Nigeria’s Competition and Consumer Protection Tribunal said on Friday. Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) fined Meta last July for discriminatory …

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Burkina Faso grants mining lease to Russia’s Nordgold for gold project

25 Apr 2025

(Reuters) -Burkina Faso has granted an industrial mining licence to Russian miner Nordgold for a gold project, the military-led West African government said, aiming to capitalise on record-high gold prices to strengthen an economy hit by insecurity. The move signals deepening economic ties between Russia and Burkina Faso, as the junta that seized power in …

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South African rand firms as investors seek clarity on budget

25 Apr 2025

By Tannur Anders JOHANNESBURG (Reuters) -South Africa’s rand firmed on Friday as investors awaited clarity amid a dispute over the national budget that has rattled domestic markets. At 1500 GMT, the rand traded at 18.7475 against the dollar, about 0.3% stronger than its previous close. South Africa’s political parties have clashed over a proposal to …

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War-hit Congo park turns to chocolate gorillas in conservation push

25 Apr 2025

By Gradel Muyisa BENI, Democratic Republic of Congo (Reuters) -Threatened by armed conflict, volcanic activity and rampant deforestation, Africa’s oldest national park is turning to a new product to raise its profile and boost conservation efforts: chocolate gorillas. Virunga National Park in war-ravaged eastern Congo is marking its 100th anniversary this month by producing 25,000 …

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