Reuters Africa Business

By Nqobile Dludla JOHANNESBURG (Reuters) -Beijing Automotive Group (BAIC) South Africa will start assembling its newly launched B30 off-road SUV at its factory in the country’s Eastern Cape province as early as January, its CFO said, marking a significant step in boosting local production. To offset pressure from a damaging price war in their home …

China’s BAIC to start assembling B30 SUVs in South Africa early next year Read More »

LAGOS (Reuters) -An exhibition celebrating the life and legacy of Afrobeat pioneer Fela Kuti has opened in Lagos in Nigeria, marking the African debut of an event first developed by the Philharmonie de Paris in France. The Lagos show features 440 items including personal memorabilia, photographs, paintings and videos of Fela’s performances. Visitors can also …

Afrobeat icon Fela Kuti’s legacy celebrated in Lagos show with photos, live music and bright underwear Read More »

JOHANNESBURG (Reuters) -The South African rand was little changed on Tuesday, after the release of unemployment and manufacturing data, with traders’ attention mainly on a national budget review on Wednesday. At 1216 GMT, the rand traded at 17.1450 against the dollar, near its previous closing level. The local currency staged a recovery on Monday, gaining …

South African rand little moved by unemployment, manufacturing figures Read More »

By Kopano Gumbi PRETORIA (Reuters) -South Africa’s unemployment rate fell slightly in the third quarter of this year, as jobs were added in construction, social services and trade, the statistics agency said on Tuesday. The official jobless rate stood at 31.9% in July-September, down from 33.2% in April-June. Unemployment rose above 30% five years ago …

South Africa’s unemployment rate falls, helped by construction Read More »

By Duncan Miriri NAIROBI (Reuters) -The International Monetary Fund said on Tuesday it has discussed various options with Senegal to address the country’s “significant debt vulnerabilities,” adding a decision on whether to overhaul the debt rests with the government. The IMF froze a $1.8 billion financial support package for the West African economy last year …

Senegal has sovereign right to decide how to tackle debt, IMF says Read More »

By Sinéad Carew and Nell Mackenzie NEW YORK/LONDON (Reuters) -MSCI’s global equities gauge rallied 1.4% on Monday while government bond yields rose modestly on bets the record-long U.S. government shutdown will soon end, enabling official data releases to resume to provide much-needed clarity on the state of the economy. The U.S. Senate moved forward on …

Stocks rally, Treasury yields advance on hopes for a US government reopening Read More »

By Shariq Khan NEW YORK (Reuters) -Oil prices settled higher on Monday as analysts focused on potential fuel supply disruptions from fresh U.S. sanctions and Ukrainian drone attacks on Russian refineries, although predictions of a crude supply surplus kept gains in check. Brent crude futures rose 43 cents, or 0.7%, to settle at $64.06 a …

Oil settles higher as tight fuel markets offset crude supply concerns Read More »

GABORONE (Reuters) -Botswana is working on acquiring a majority stake in De Beers, President Duma Boko said on Monday, after Angola announced a rival bid to control the giant diamond company. Botswana, which owns 15% of De Beers and contributes 70% of its annual rough diamond production, considers the company a strategic national asset, despite …

Botswana taking steps to acquire majority stake in De Beers, president says Read More »