By Bhargav Acharya and Kopano Gumbi JOHANNESBURG (Reuters) -South African assets gave up some gains on Monday as the initial optimism shown by the markets waned a day after President Cyril Ramaphosa formed a new cabinet. Some investors earlier said the gains were likely to be short-lived as it would take time for the new …
South African markets retreat after ‘sugar rush’ of Ramaphosa’s cabinet Read More »
By Isaac Anyaogu, Ahmad Ghaddar and Julia Payne LAGOS (Reuters) – Nigeria’s new Dangote oil refinery is increasing gasoil exports to West Africa, taking market share from European refiners, according to traders and shipping data. The $20 billion refinery, built by Africa’s richest man Aliko Dangote on the outskirts of Lagos, is producing a lower …
Nigeria’s Dangote refinery boosts gasoil exports to W. African market Read More »
By Sfundo Parakozov JOHANNESBURG (Reuters) – South African poultry producer Rainbow Chicken is focused on keeping its costs low as it begins life as a stand-alone company, CEO Marthinus Stander said on Monday. Rainbow, one of South Africa’s leading poultry firms, was spun off by parent company RCL Foods and listed on the Johannesburg Stock …
S.Africa’s Rainbow Chicken targets low-cost future after listing Read More »
By Aaron Ross NAIROBI (Reuters) -Kenyan activists called for protesters to take to the streets again on Tuesday, with many rejecting appeals from President William Ruto for dialogue following his decision to withdraw proposed tax hikes. At least 24 people were killed in clashes between protesters and police last week, when parliament was briefly stormed …
Kenyan activists call for more protests as govt pledges austerity Read More »
(Corrects name spelling in para 10) By Libby George LONDON (Reuters) -The violent unrest that forced Kenya’s president to withdraw support for a finance bill has left the country’s efforts to meet International Monetary Fund targets in doubt and could make borrowing most costly, investors and analysts said. The bill included unpopular levies on bread, …
Kenya’s tax-bill turmoil complicates IMF cash, could boost borrowing costs Read More »
JOHANNESBURG (Reuters) – South African manufacturing activity contracted again in June, a Purchasing Managers’ Index (PMI) survey showed on Monday, reflecting weak demand. The seasonally-adjusted PMI for the factory sector was at 45.7 points in June compared to 43.8 in May. A reading above the 50-point mark shows growth. “Many comments from respondents flag depressed …
South African factory activity contracts again in June – Absa PMI Read More »
(Reuters) – South African pharmacy chain Clicks Group said on Monday it would sell drug maker Unicorn Pharmaceuticals to comply with a court ruling, clearing the way for the health ministry to issue the company with licences for new stores. South Africa’s Constitutional Court in March 2023 ruled in favour of the Independent Community Pharmacy …
South African pharmacy chain Clicks to sell drug maker after court ruling Read More »
CAIRO (Reuters) – Egypt is looking to raise its target for the renewable share of energy generation to 58% by 2040 in an updated strategy for expanding green power, Electricity Minister Mohamed Shaker said on Saturday. Shaker told an Egypt-EU investment conference that the government hoped to publish the new strategy in the next two …
Egypt looking to raise target for renewable energy to 58% by 2040 Read More »
By Maxwell Akalaare Adombila, Cooper Inveen and Harshita Meenaktshi DAKAR (Reuters) -The International Monetary Fund’s executive board approved the second review of Ghana’s $3 billion loan programme on Friday, allowing for the immediate disbursement of around $360 million, the Fund said. The decision comes after the oil, gold and cocoa producer finalised a deal with …
IMF board approves $360 million payout to Ghana after second review Read More »
By Nicole Jao NEW YORK (Reuters) -Oil prices fell on Friday as investors weighed weak U.S. fuel demand and took some money off the table at quarter-end, while key inflation data for May boosted the chances the Federal Reserve will start to cut interest rates this year. Brent crude futures for August settlement, which expired …
