Reuters Africa Business

Detained anti-crude pipeline activist in Uganda released, pressure group says

10 Jun 2024

KAMPALA (Reuters) – An employee of a environmental group campaigning to stop construction of a $5 billion crude oil pipeline in east Africa who the organisation said had been detained by the Ugandan military last week has been released. Stephen Kwikiriza, from the Ugandan environmental pressure group Environment Governance Institute (EGI), has campaigned to stop …

Detained anti-crude pipeline activist in Uganda released, pressure group says Read More »

Omnia’s explosives business boosted by battery metals exploration

10 Jun 2024

(Reuters) – South African chemicals company Omnia Holdings on Monday declared a special dividend as increased demand for explosives, driven by battery metals exploration, boosts the company’s prospects. Omnia’s after-tax profit was flat at 1.163 billion rand ($61.88 million) in the year ended March 31, compared with 1.152 billion the year before, after fertiliser prices …

Omnia’s explosives business boosted by battery metals exploration Read More »

Stocks retreat, Treasuries flail as US rate cut hopes wither

7 Jun 2024

By Naomi Rovnick and Koh Gui Qing NEW YORK/LONDON (Reuters) -Global stocks pulled back from an all-time high on Friday after surprisingly strong U.S. monthly jobs data dimmed hopes that the Federal Reserve would soon follow euro zone and Canadian interest rate cuts, causing Treasury yields to shoot higher. The world’s largest economy added 272,000 …

Stocks retreat, Treasuries flail as US rate cut hopes wither Read More »

Oil dips on deflated US interest rate cut expectations, OPEC+ decision

7 Jun 2024

By Nicole Jao NEW YORK (Reuters) -Oil prices edged down on Friday and posted a third straight weekly loss as investors weighed OPEC+ reassurances against the latest U.S. jobs data that lowered expectations that the Federal Reserve will cut interest rates soon. Brent crude futures settled 25 cents lower at $79.62 a barrel, while U.S. …

Oil dips on deflated US interest rate cut expectations, OPEC+ decision Read More »

US dollar bounces as strong jobs report likely delays Fed easing this year

7 Jun 2024

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar rebounded on Friday after data showed the world’s largest economy created a lot more jobs than expected last month, suggesting that the Federal Reserve could take time in starting its easing cycle this year. The dollar index, which tracks the currency’s value against six major peers …

US dollar bounces as strong jobs report likely delays Fed easing this year Read More »

Nigerians get month free pay-TV after tribunal fines MultiChoice

7 Jun 2024

By Camillus Eboh ABUJA (Reuters) – A Nigerian consumer tribunal fined the local unit of Africa’s biggest pay-TV company MultiChoice Group 150 million naira ($107,142.86) on Friday for contempt of court and ordered the company to offer its subscribers one month of free service. MultiChoice, which operates pay-TV services DSTV and GOTV in Nigeria, increased …

Nigerians get month free pay-TV after tribunal fines MultiChoice Read More »

Africa development bank calls for $25 billion and better terms to avoid ‘lost decade’

7 Jun 2024

By Marc Jones and Libby George LONDON (Reuters) – Africa needs quicker debt restructurings, more favourable lending terms and some $25 billion for the Africa Development Fund to avoid a lost decade, the head of its development bank said. The continent was suffering from “long fiscal COVID” and the world was not doing enough to …

Africa development bank calls for $25 billion and better terms to avoid ‘lost decade’ Read More »

South African rand gains after ANC says it seeks unity government

7 Jun 2024

JOHANNESBURG (Reuters) -The South African rand gained on Friday, after the African National Congress (ANC) said it would seek to form a government of national unity following its failure to win a majority in last week’s election. At 1505 GMT, the rand traded at 18.88 against the dollar, around 0.6% stronger than its previous close. …

South African rand gains after ANC says it seeks unity government Read More »

Nigeria to procure 3.5 million electricity meters in 2024 to raise revenue

7 Jun 2024

By Isaac Anyaogu LAGOS (Reuters) – Nigeria said on Friday it plans to procure 3.5 million electricity meters before the end of year to improve revenue for its cash-strapped power sector, where more than half of the customers are billed by estimates. The government signed an agreement last month with the Nigerian Sovereign Investment Authority …

Nigeria to procure 3.5 million electricity meters in 2024 to raise revenue Read More »

Algeria’s Sonatrach, China’s Sinopec sign MoU to expand cooperation – statement

7 Jun 2024

DUBAI (Reuters) – Algeria’s state oil and gas firm Sonatrach said on Friday it has signed a memorandum of understanding (MoU) with China’s Sinopec that aims to expand cooperation, especially in the areas of exploration, renewable energies, petrochemistry, petroleum engineering, and skills development. (Reporting by Clauda Tanios, Editing by Louise Heavens)

Close Bitnami banner
Bitnami