Reuters Africa Business

By Rishav Chatterjee (Reuters) -Malaysian state-owned energy giant Petroliam Nasional said on Monday its unit had initiated proceedings against South Sudan for allegedly blocking a $1.25 billion sale of its local assets and instead taking over the business. The company, also known as Petronas, announced on Aug. 7 it would exit South Sudan after running …

Malaysian energy giant Petronas sues South Sudan over local assets deal Read More »

(Reuters) – Global credit ratings agency S&P downgraded Kenya’s rating on Friday to “B-” from “B,” citing the recent repeal of the East African country’s 2024/2025 Finance Bill, which it said will slow its fiscal consolidation. President William Ruto discarded the government’s finance bill for the year, which contained tax hikes worth 346 billion shillings …

S&P downgrades Kenya on weaker fiscal and debt trajectory Read More »

By Ange Aboa ABIDJAN (Reuters) – Ivory Coast’s government will increase its support for small local cocoa exporters to help them more than double their annual purchasing volumes, two government sources said on Friday. Ivorian exporters, which have been struggling to secure financing from local banks due to financial difficulties, have to compete with financially …

Ivory Coast increases support for cocoa exporters, say sources Read More »

By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghana’s cocoa marketing board, Cocobod, is fine-tuning a new funding model for bean purchases that will require global traders to deposit at least 60% of the value of their forward contracts at the start of the season, two sources told Reuters. The new system will replace a three-decade …

Exclusive-Ghana’s Cocobod to ask traders to pre-finance bean purchases in new funding model Read More »