Reuters Africa Business Archives - Page 208 of 921

South Africa grants Eskom coal plants limited emissions exemptions

31 Mar 2025 31 Mar 2025

By Wendell Roelf CAPE TOWN (Reuters) -South African coal-fired power stations have received limited exemptions from air quality laws and harmful emissions reduction regulations, the environment minister said on Monday, but he stressed that the measures did not constitute a “blanket reprieve”. The government is struggling to strike a balance between calls to reduce its …

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South African rand gains as reports say coalition partners close to budget deal

31 Mar 2025 31 Mar 2025

JOHANNESBURG (Reuters) -The South African rand strengthened on Monday as local news reports said the two biggest political parties in the ruling coalition government were close to an agreement that could end an impasse over the country’s national budget. At 1240 GMT, the rand traded at 18.38 against the dollar, 0.3% stronger than Friday’s closing …

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Umeme receives $118 million from Uganda for unrecovered investments

31 Mar 2025 31 Mar 2025

KAMPALA (Reuters) – Ugandan private power utility Umeme Limited said on Monday it had received $118 million in compensation from the government for unrecovered investments, following the expiration of its monopoly rights to distribute electricity in the country. Umeme signed a 20-year concession agreement in 2005. But as it was nearing its end in 2022, …

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Ugandan shilling flat on scant dollar demand

31 Mar 2025 31 Mar 2025

KAMPALA (Reuters) – The Ugandan shilling was flat on Monday on the back of scant demand for dollars from all sectors of the economy, traders said. At 0955 GMT, commercial banks quoted the shilling at 3,655/3,665, the same level as Friday’s close. (Reporting by Elias Biryabarema; Editing by George Obulutsa)

West African juntas impose levy on imported goods

30 Mar 2025 30 Mar 2025

ATHENS (Reuters) – West African neighbours Mali, Burkina Faso and Niger have announced a new 0.5% levy on imported goods as they seek to fund a new three-state union after leaving the larger regional economic bloc, they said in a statement. The Alliance of Sahel States began in 2023 as a security pact between the …

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Niger withdraws from Lake Chad military force

30 Mar 2025 30 Mar 2025

NIAMEY (Reuters) – Niger has quit an international force fighting armed Islamist groups in West Africa’s Lake Chad region as it seeks to shore up security around oil assets at home, the government said in a bulletin on state television. The Multinational Joint Task Force (MNJTF), which also includes soldiers from Nigeria, Chad and Cameroon, …

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Uganda signs deal with UAE investment firm over oil refinery

29 Mar 2025 29 Mar 2025

(Reuters) – Uganda on Saturday signed an oil refinery agreement with UAE-based Alpha MBM Investments for a 60% stake in crude oil refinery in Kabaale, Hoima District, President Yoweri Museveni’s office said in a statement. The country’s state-run Uganda National Oil Company will retain the remaining 40% stake in the 60,000-barrel-per-day refinery, according to the …

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Stocks lose ground amid inflation concerns, trade war worries

28 Mar 2025 28 Mar 2025

By Chibuike Oguh and Marc Jones NEW YORK/LONDON (Reuters) -Safe-haven gold hit a fresh record high on Friday as an index of global shares fell, weighed down by worries over a looming trade war sparked by tariff decisions from U.S. President Donald Trump. U.S. traders had new sticky inflation data to grumble about [.N] but …

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South African rand slips as US tariff and budget worries linger

28 Mar 2025 28 Mar 2025

JOHANNESBURG (Reuters) -South Africa’s rand slipped on Friday, as concerns lingered over U.S. President Donald Trump’s tariffs and an impasse between the ruling coalition’s two biggest parties over the state budget. At 1507 GMT, the rand traded at 18.3975 against the dollar, about 0.8% weaker than its previous close. The markets have remained on tenterhooks …

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Ugandan shilling firms on FX inflows from commodity exporters, charities

28 Mar 2025 28 Mar 2025

KAMPALA (Reuters) – The Ugandan shilling was stronger on Friday, boosted by a healthy infows of foreign exchange from charities and commodity exporters, traders said. At 0917 GMT commercial banks quoted the shilling at 3,655/3,665, compared to Thursday’s close of 3,660/3,670. (Reporting by Elias Biryabarema; Editing by Hereward Holland)