By Duncan Miriri and Colleen Goko JOHANNESBURG (Reuters) -The Group of 20 major economies should team up with the International Monetary Fund and others to launch a new debt refinancing plan for low-income countries hit by heavy debt repayments, a panel of Africa experts said on Tuesday. “This proposal would focus on refinancing rather than …
Africa expert panel proposes a new G20 debt refinancing initiative Read More »
RABAT (Reuters) -Moroccan construction firm SGTM has won approval to launch an initial public offering on the Casablanca stock exchange, bourse regulator AMMC said on Tuesday. SGTM aims to raise 5.04 billion dirhams ($545 million), AMMC said in a statement. The subscription period runs from December 1 to December 8, it said. Besides Morocco, the …
Moroccan construction firm SGTM to launch IPO in Casablanca Read More »
ABIDJAN (Reuters) -Ivory Coast’s cocoa grind fell 25.4% year-on-year at the start of the 2025/26 season in October to 44,075 metric tons, data from exporters’ association GEPEX showed on Tuesday. The GEPEX data covers six of the largest grinding companies, including Barry Callebaut, Olam and Cargill Inc. Ivory Coast has a total grinding capacity of …
Ivory Coast cocoa grind down 25.4% year-on-year in October, exporters association says Read More »
By Colleen Goko and Nqobile Dludla JOHANNESBURG (Reuters) -African development banks should retain the same legal protections as global lenders like the International Monetary Fund when governments restructure debt, the head of Africa Finance Corporation said, as debate grows over their preferred creditor status. With countries including Ghana and Zambia recently working through debt restructurings, …
Keep African development banks as preferred creditors, AFC head says Read More »
(Reuters) -Pick n Pay’s founding Ackerman family has sold about 64 million shares, the South African retailer said on Tuesday, more than a year after pledging to cede control of the struggling grocer. In May 2024, the Ackerman family said it will relinquish control of Pick n Pay as part of a revamp aimed at stemming …
JOHANNESBURG (Reuters) -South African telecommunications firm Telkom reported on Tuesday a 16.4% rise in headline earnings per share (HEPS) driven by its data-led strategy. Telkom, majority owned by the government, said its HEPS – a key profit measure – rose to 305.6 cents in the six months ended September 30, up from 191.5 cents a …
South Africa’s Telkom posts 16.4% rise in interim profit Read More »
By Laura Matthews NEW YORK (Reuters) -The dollar strengthened against the euro and the yen on Monday as traders exercised caution ahead of what could be a busy week with the long-awaited return of U.S. economic data. Market reaction to U.S. President Donald Trump’s tariff U-turn on more than 200 food products was muted, with some …
Dollar strengthens as traders await return of U.S. data Read More »
ABIDJAN (Reuters) -Last week’s light rains in Ivory Coast’s cocoa-growing regions augur well for the October-to-March main crop, farmers said on Monday, adding that harvesting was intensifying before reaching its peak in December. The world’s top cocoa producer is in its dry season which runs from mid-November to March, when downpours are scarce. Farmers said …
Ivory Coast weather conditions keep cocoa outlook positive Read More »
(Corrects second bullet point, paragraph 8 and paragraph 10 in November 13 story to remove attribution to OPEC and make clear the surplus projection is implied according to a Reuters calculation based on the OPEC report) By Arathy Somasekhar HOUSTON (Reuters) -Oil prices held largely steady on Thursday after declining around 4% in the previous …
Oil prices steady after steep losses in previous session Read More »
JOHANNESBURG (Reuters) -The South African rand was flat for much of Monday’s trading session as investors awaited domestic inflation data and an interest rate decision later this week. At 1324 GMT, the rand traded at 17.0775 against the U.S. dollar, at the same level as Friday’s close as traders shrugged off S&P Global’s first credit …
South African rand flat as focus shifts to domestic inflation, rate-setting meeting Read More »
