JOHANNESBURG (Reuters) – The South African rand slipped against a stronger dollar on Monday, with looming U.S. data likely to dictate currency moves this week. The dollar was up around 0.37% against a basket of global currencies, as markets looked to Wednesday’s U.S. inflation report for clues about the size of a Federal Reserve rate …
South African rand slips with dollar in driving seat Read More »
WINDHOEK (Reuters) – Namibia’s state-owned power utility NamPower on Monday said it had signed a contract with two Chinese firms to start building the country’s largest solar power plant. The southern African country is a net importer of electricity, relying on neighbouring Zambia and South Africa for power, but the plant will add 100 megawatt …
Chinese firms to build Namibia’s largest solar power plant Read More »
By Duncan Miriri NAIROBI (Reuters) -Kenya’s finance ministry will seek suggestions from the public on new legislation to boost revenue and tackle other challenges, Finance Minister John Mbadi said on Monday, after protesters forced the government to withdraw its financing law. President William Ruto discarded tax hikes worth more than 346 billion shillings ($2.7 bln) …
Kenya asks public for help with economic fix laws after protests Read More »
By Robert Harvey and Arathy Somasekhar LONDON/HOUSTON (Reuters) – A halt in Libyan oil exports has supported the values of Azeri, African and U.S. oil grades, while some refiners could consider reducing crude intake altogether due to poor profit margins, traders and analysts told Reuters. Crude oil exports from Libya’s major ports have been shut …
Libyan oil loss pushes up rival Mediterranean, US grades Read More »
ABUJA (Reuters) – Nigeria’s state security service arrested the president of its largest labour federation on Monday on charges that are yet to be disclosed, the Nigeria Labour Congress (NLC) said. The arrest of Joe Ajero comes days after he criticised the government for raising the price of gasoline by 39%, threatening to call a …
Leader of Nigeria’s labour federation arrested, union says Read More »
JOHANNESBURG(Reuters) -Sun International reported a 9.1% rise in first-half earnings on Monday, as record growth in the South African casino and hotel group’s betting business helped drive its income. The owner of the Sun City resort and Maslow Sandton and Table Bay high-end hotels said adjusted headline earnings per share – its main profit measure …
Sun City owner’s profit jumps on big betting gains Read More »
JOHANNESBURG (Reuters) – Land Bank’s debt and loan book have been cut by more than half, South African officials said on Monday, as the state-owned agricultural lender prepares to emerge from more than four years of default. Land Bank defaulted on its debt in April 2020, becoming the first large South African state entity to …
South Africa’s Land Bank shrinks debt, loan book as it surfaces from default Read More »
JOHANNESBURG (Reuters) -South Africa’s AVI reported a 24.1% rise in full-year profit on Monday as the food producer and fashion retailer lifted prices to offset the impact of rising input costs. The group posted its headline earnings per share – the country’s main profit measure – of 687.1 cents for the full year ended June …
South Africa’s AVI posts 24% rise in annual profit Read More »
CAIRO (Reuters) – Egypt’s inflation is forecast to have declined for a sixth month in August, helped by a favourable base effect, but some analysts say it is likely to have increased month on month after a series of government-led price hikes. Egypt in March signed an $8 billion financial support package with the International …
Egypt August inflation seen dropping despite price hikes Read More »
LAGOS (Reuters) – Nigeria’s state-owned oil firm NNPC Ltd said on Saturday it will not be the sole buyer of gasoline from Dangote refinery but would step in if the facility sold above pump prices. CONTEXT The 650,000 barrel-per-day capacity Dangote refinery started producing gasoline earlier this week, raising expectations that this would end decades …
Nigeria’s NNPC says not sole buyer of Dangote gasoline Read More »
