Reuters Africa Business

South African retailer Pepkor secures approval to launch banking services

25 Nov 2025

By Siyanda Mthethwa JOHANNESBURG (Reuters) -South African discount retailer Pepkor Holdings has received regulatory approval to establish a banking presence, it said on Tuesday, as it expands beyond retail and financial services. Pepkor said in a statement that it had secured approval from the Prudential Authority in November, enabling it to enter South Africa’s competitive …

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South Africa’s Transnet gets 300 million euro loan from French development agency

25 Nov 2025

JOHANNESBURG (Reuters) -France’s development agency has agreed to give South African state-owned logistics group Transnet a 300 million euro ($345.78 million) loan for clean energy initiatives. Transnet manages the freight rail network, ports and pipelines in Africa’s biggest economy. The South African government is trying to revive the company after years of chronic underperformance that …

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Exclusive-Nigeria’s Dangote picks Honeywell to help fulfill ambitious capacity expansion

25 Nov 2025

By Utkarsh Shetti DUBAI (Reuters) -Nigeria’s Dangote has tapped Honeywell to provide services and help double its refining capacity to 1.4 million barrels per day by 2028, in what is the clearest indication yet that its plans to become the world’s largest petroleum refinery are bearing fruit. The agreement will allow Dangote to process a …

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Barrick, Mali government agree to resolve gold mine dispute

25 Nov 2025

By Divya Rajagopal and Portia Crowe (Reuters) -Barrick Mining said on Monday it had reached an agreement with Mali’s government to resolve all their disputes over the Loulo-Gounkoto gold mining complex after two years of negotiations, sending shares in the Toronto-listed company to a record high. Reuters reported on Friday that the parties had an …

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Stocks jump, US yields fall as Fed rate cut bets increase

25 Nov 2025

By Chuck Mikolajczak NEW YORK (Reuters) -Global stocks advanced for a second straight session on Monday as rising expectations for a December rate cut from the U.S. Federal Reserve helped to soothe recent concerns about stretched valuations in the AI space while longer-dated U.S. Treasury yields dipped. Stocks stumbled last week to their largest weekly …

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Barrick resolves dispute with Mali government over Loulo-Gounkoto mining complex

25 Nov 2025

(Reuters) -Canadian miner Barrick Mining has reached an agreement with Mali’s government to resolve all their disputes over the Loulo-Gounkoto gold mining complex since 2023. The dispute was over the implementation of a new Mali mining code that raises taxes and gives the government a greater share of gold mines. The miner, formerly called Barrick …

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US dollar slips as dovish Fed comments weigh; yen falls

25 Nov 2025

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar dipped on Monday, as investors weighed dovish remarks from Federal Reserve officials that boosted expectations for a rate cut next month and limited the greenback’s upside against major currencies. The U.S. currency, however, rose against the yen, as investors remained on the lookout for signs of …

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Oil prices settle up 1% on bets Fed will cut US rates and doubts about Ukraine peace

24 Nov 2025

By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 1% on Monday on increased bets of a U.S. interest rate cut in December and mounting doubts about whether Russia will get a peace deal with Ukraine that will boost Moscow’s oil exports. Brent futures rose 81 cents, or 1.3%, to settle at $63.37 a …

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African Union chair calls for fairer debt restructuring tools at summit with EU

24 Nov 2025

LUANDA (Reuters) -Angolan President Joao Lourenco, current chair of the African Union, on Monday called for fairer debt restructuring tools and innovative financing instruments to support Africa’s development. Lourenco’s comments, delivered to African and European Union leaders assembled in Angola’s capital, come as a growing number of African countries are at risk of debt distress. …

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