By Ahmad Ghaddar LONDON (Reuters) -Libya is set to offer 22 areas for oil exploration and development in its first such bidding round in more than 17 years, oil officials said on Monday, adding that deals will involve production sharing agreements. The new bidding round, announced on March 3, comes as Africa’s second-largest oil producer …
Libya to offer production sharing contracts under new oil bid round Read More »
(Reuters) – South Africa’s National Treasury is looking at alternative revenue-raising options to a value-added tax increase, but the chances of avoiding it are low, President Cyril Ramaphosa said on Sunday. The second biggest party in the ruling coalition, the pro-business Democratic Alliance (DA), on Wednesday rejected a proposal in the budget to raise VAT …
South Africa’s treasury looking at alternatives to VAT hike Read More »
CAIRO (Reuters) – Libya’s central bank announced a 13.3% devaluation of the country’s dinar currency on Sunday, setting the exchange rate at 5.5677 to the U.S. dollar effective immediately. This is the first official devaluation since the bank agreed to a devalued exchange rate of 4.48 dinars to the dollar in 2020. The parallel market …
Libya devalues currency for first time in four years Read More »
CAIRO (Reuters) – Egypt’s net foreign assets climbed by $1.48 billion in February, their second increase this year after having fallen in each of the last three months of last year, central bank data showed. Net foreign assets climbed to the equivalent of $10.18 billion from $8.70 billion at the end of January, according to …
By Karin Strohecker and Libby George LONDON (Reuters) -Ethiopia’s official creditors expect to finalise within months a draft debt restructuring that gives the government more time to pay but stops short of an outright haircut, the co-chair of the group told Reuters. The East African nation, which defaulted in December 2023, announced a preliminary agreement …
Exclusive-Official creditors grant Ethiopia more time to pay debt, no write-down Read More »
By Nqobile Dludla and Bhargav Acharya JOHANNESBURG (Reuters) -South Africa has no immediate plans to retaliate against the United States over tariffs announced by President Donald Trump this week and will instead seek to negotiate exemptions and quota agreements, senior government officials said on Friday. Trump imposed a 31% tariff on U.S. imports from South …
South Africa not planning to retaliate over Trump’s tariffs Read More »
By Sfundo Parakozov JOHANNESBURG (Reuters) -South African assets fell further on Friday as investors worried about the impact of U.S. President Donald Trump’s sweeping tariffs and the future of South Africa’s coalition government. At 1511 GMT, the rand traded at 19.0175 against the dollar, down about 1.5% on Thursday’s closing level. The South African currency …
South African assets extend drop on tariffs and local politics Read More »
(Reuters) – Kenya has renewed a contract to purchase fuel on credit from three state-owned Gulf companies by two years and renegotiated lower margins, Bloomberg News quoted the country’s energy regulator as saying. Saudi Aramco, Emirates National Oil and Abu Dhabi National Oil will continue to supply gasoline, diesel, kerosene and jet fuel to the …
Kenya extends oil supply agreement with three Gulf companies, Bloomberg News reports Read More »
DAR ES SALAAM (Reuters) -Tanzania’s central bank on Friday kept its key interest rate unchanged at 6%, saying that while inflation was under control global trade tensions posed a risk. It was the fourth monetary policy meeting in a row that the rate was maintained. “Maintaining the central bank rate will help to minimise negative …
Tanzania central bank holds key rate, eye on global trade Read More »
KAMPALA (Reuters) – The Ugandan shilling was stable on Friday, but was expected to weaken, driven by demand for dollars from energy firms, traders said. At 0904 GMT, commercial banks quoted the shilling at 3,648/3,658, compared with Thursday’s closing of 3,647 / 3,657. (Reporting by Elias Biryabarema; Editing by George Obulutsa)
