By Kopano Gumbi JOHANNESBURG (Reuters) – South Africa’s central bank said on Tuesday that the scope for monetary policy easing had narrowed because of the highly uncertain global backdrop. In a biannual review of its monetary policy, the South African Reserve Bank (SARB) said the global trade war started by U.S. President Donald Trump was …
South Africa’s central bank says scope for policy easing has narrowed Read More »
WINDHOEK (Reuters) – Canadian gold mining company B2Gold plans to cut 300 jobs in Namibia this year as it goes ahead with the phased downscaling of operations at its Otjikoto mine after depletion of open pit reserves. The Otjikoto mine, which began commercial production in March 2015, produced a record 198,142 ounces of gold last …
(Reuters) – West Africa-focused oil and gas explorer Tullow Oil said on Tuesday it would sell its assets in Kenya to Gulf Energy Ltd for at least $120 million as it works to reduce its debt. Tullow will get three $40 million payments, be entitled to royalty payments and have the right to 30% participation …
UK’s Tullow Oil to sell Kenya assets for at least $120 million Read More »
By Ahmed Eljechtimi MARRAKECH (Reuters) – Moroccan payment solutions firm HPS plans to spur growth with the acquisition of a fintech firm before 2027, the company’s CEO said on Monday. Casablanca-listed HPS operates in 95 countries and posted 2024 revenue of 1.267 billion dirhams ($140 million), up 6.4%. Last December, it bought Dublin-based CR2, a …
Morocco’s HPS plans fintech acquisition before 2027, CEO says Read More »
By Karen Brettell NEW YORK (Reuters) -The dollar was flat against the euro on Monday after a bruising week last week sent it to a three-year low against the single currency and left it oversold by some technical metrics. The greenback fell against the yen, meanwhile, as U.S. President Donald Trump’s erratic implementation of tariffs …
Dollar struggles near three-year low against euro Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled slightly higher on Monday on exemptions for some electronics from U.S. tariffs and data showing a sharp rebound in China’s crude imports in March, but gains were limited by concerns that the trade war could weaken global economic growth and dent fuel demand. Brent crude futures closed …
Oil rises marginally on tariff exemption, Chinese crude imports Read More »
MASERU (Reuters) – Lesotho has granted a licence to Elon Musk’s Starlink to operate a satellite network and provide satellite internet services, the country’s communications authority said on Monday. The licence granted to Starlink Lesotho will be valid for 10 years, Lesotho Communications Authority (LCA) said in a statement. The development comes as Lesotho seeks …
Lesotho grants operating licence to Musk’s Starlink Read More »
ACCRA (Reuters) – Ghana has ordered foreigners to exit its gold trading market by the end of the month, a new government body said on Monday, as the West African country looks to streamline gold purchases from small-scale miners, increase earnings and reduce smuggling. Africa’s leading gold producer is shifting away from a system in …
Ghana orders foreigners to exit gold market by April 30 Read More »
(Reuters) – South Africa’s Gold Fields said on Monday it is winding down operations at its Damang mine in Ghana after the government rejected an application to extend the lease. The Johannesburg-based miner has been weighing selling its smaller operations – including Damang and the Cerro Corona mine in Peru, which has less than five …
Gold Fields ends ops at Ghana’s Damang mine after govt rejects lease renewal Read More »
By Kopano Gumbi and Sisipho Skweyiya JOHANNESBURG (Reuters) – For South African beverage company owner, Ndumiso Madlala, the impending value-added tax hike could spell trouble for his small-scale business that makes alcoholic ginger beer and non-alcoholic drinks. The National Treasury plans to raise VAT by 1-percentage-point over two years from May 1, as part of …
South African businesses on edge as VAT hike looms Read More »
