KAMPALA (Reuters) -The Ugandan shilling was slightly firmer against the dollar on Friday on thinning foreign currency demand from merchandise importers and interbank players, traders said. At 0941 GMT commercial banks quoted the shilling at 3,658/3,668, compared to Thursday’s close of 3,661/3,671. (Reporting by Elias Biryabarema; Editing by Hereward Holland)
RABAT (Reuters) -Morocco’s largest telecom operator, Maroc Telecom, reported a 5.9% drop in first quarter profit on Friday as falling revenue in Morocco offset growth at its African subsidiaries. The company said profit attributable to shareholders totalled 1.43 billion dirhams ($154 million) for January-March and its consolidated revenue fell 2% from a year earlier to …
By Karin Strohecker and Colleen Goko WASHINGTON (Reuters) -South African Finance Minister Enoch Godongwana said on Thursday he will not resign after the government’s U-turn on a planned value-added tax hike, despite opposition calls for him to quit. “My job is to introduce money bills – nothing says they must be popular,” he told Reuters …
South Africa’s finance minister says he won’t resign after VAT U-turn Read More »
By Lisa Baertlein NEW ORLEANS (Reuters) -Maritime consultancy Drewry said on Thursday it expects global container port volume to fall 1% as a direct result of U.S. trade policies. That would be the third drop in global container shipping demand since London-based Drewry began collecting that data in 1979. Container volume fell 8.4% during the …
Global container shipping volume to fall 1% on Trump trade policies, Drewry says Read More »
By Ahmed Eljechtimi RABAT, Morocco (Reuters) – Morocco’s King Mohammed VI gave the go-ahead on Thursday for a rail expansion plan worth 96 billion dirhams ($10.3 billion), including the construction of a high-speed line to Marrakesh, the country’s main tourist hub, by 2030, state media reported. Morocco’s preparations to co-host the World Cup in 2030, …
Morocco launches $10 billion rail expansion plan Read More »
By Wendell Roelf CAPE TOWN (Reuters) -Namibia received a boost on Thursday when Rhino Resources discovered “high quality” light oil in its latest well and U.S. oil producer Chevron said it was considering a new drilling campaign in either 2026 or 2027. A global exploration hotspot, the southern African nation is aiming to produce its …
African energy explorer Rhino Resources finds light oil off Namibia Read More »
By Tannur Anders JOHANNESBURG (Reuters) -The South African rand was stable on Thursday after the finance ministry said it was withdrawing a contentious increase in value-added tax (VAT) that was due to take effect next month and as investors awaited clarity on the budget plans. The country’s biggest parties have clashed over the budget’s proposal …
South African rand stable after VAT hike withdrawn, markets await budget clarity Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) -Atlantic Lithium is continuing negotiations with Ghana’s government to salvage its Ewoyaa lithium project, the company’s chief Keith Muller said on Thursday as falling prices of the critical battery metal cast a shadow on viability of the West Africa nation’s maiden lithium mine. The Australia-based miner is seeking concessions …
Atlantic Lithium seeks compromise with Ghana on maiden lithium project terms Read More »
KAMPALA (Reuters) -The Ugandan shilling held its levels against the dollar on Thursday, supported by hard currency inflows from aid agencies, traders said. At 0921 GMT commercial banks quoted the shilling at 3,660/3,670, compared to Wednesday’s close of 3,662/3,672. (Reporting by Elias Biryabarema; Editing by Hereward Holland)
By Libby George and Karin Strohecker LONDON (Reuters) -Ghana and Zambia battled their way to debt restructuring deals with their primary creditors last year, but simmering disagreements over two key African banks could keep them in default for longer than anticipated, hampering their economic recoveries. Four sources close to the talks said the Paris Club …
Battle over ‘baby multilaterals’ may trap Zambia, Ghana in longer debt default Read More »
