JOHANNESBURG (Reuters) -South Africa’s rand was steady on Thursday, as markets awaited the outcome of a meeting between senior African National Congress (ANC) leadership figures on the future of the country’s government. At 1534 GMT, the rand traded at 18.9275 against the dollar, about 0.07% firmer than its previous close. The local currency tumbled the …
South African rand steady after losses, focus on ANC talks Read More »
ABIDJAN (Reuters) – Ivory Coast’s gold output hit a record high in 2023, helped by the opening of new mines, and will continue to grow further, mines minister Mamadou Sangafowa Coulibaly said on Thursday. Ivory Coast, the world’s top cocoa producer, is seeking to develop its long-neglected mining sector to diversify its sources of income. …
Opening of new mines boosts Ivory Coast 2023 gold output Read More »
CAPE TOWN (Reuters) -A South African unit of mining giant Rio Tinto will seek board approvals next year to resume expansion plans at the mineral sands business halted in 2019 following rising insecurity and threats to its workers. Richards Bay Minerals (RBM) plans to take the Zulti South project to the Rio Tinto board for …
Rio Tinto’s S.African unit may resume mineral sands project halted by violence Read More »
NAIROBI (Reuters) – Kenya’s economy is expected to grow 5.7% this year after 5.6% last year, the central bank governor said on Thursday. “Despite the recent flooding in some parts of the country, the economy is expected to remain strong in 2024 supported by the resilient services sector and robust performance of the agricultural sector,” …
Kenya’s central bank governor: GDP to grow 5.7% in 2024 Read More »
By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s Fidelity Bank said on Thursday it would raise up to 127.1 billion naira ($88 million) via a rights issue and a public share offering to comply with a new minimum capital requirement for local lenders introduced by the central bank in March. The central bank on Tuesday said local …
Nigeria’s Fidelity Bank to sell shares to meet new capital requirement Read More »
JOHANNESBURG (Reuters) – The Botswana government may raise its shareholding in global diamond miner De Beers, President Mokgweetsi Masisi told JCK News, after parent company Anglo American said it plans to spin off or sell the business. The government owns a 15% stake in De Beers and Botswana accounts for 70% of the company’s annual …
Botswana may raise De Beers stake as Anglo weighs spin-off Read More »
NAIROBI (Reuters) -Kenya’s central bank held its benchmark lending rate at 13.0% on Wednesday, saying inflation was stable within its near-term target range, and it aimed to keep exchange rate stability. It is the second time running that the central bank has held its rate, after leaving it unchanged in April. It had hiked rates …
Kenya central bank holds benchmark rate, says inflation is stable Read More »
BAMAKO (Reuters) -A worker’s union in Mali has called on employees of banks, insurance companies, micro-finance institutions and petrol stations to temporarily stop work from Thursday after the arrest of its secretary-general. The National Union of Banks, Insurance Companies, Financial Institutions and Businesses of Mali (SYNABEF) said its secretary-general, Hamadoun Bah, was arrested on Wednesday. …
Mali financial workers union calls for strike after leader arrested Read More »
By Danilo Masoni and Koh Gui Qing NEW YORK/MILAN (Reuters) -World shares rose and U.S. Treasury yields fell on Wednesday as investors focused on an upcoming European Central Bank policy meeting and soft U.S. labor market data firmed bets of a September Federal Reserve interest rate cut. Canada’s central bank cut interest rates by 25 …
Stocks gain on rate cut bets as ECB meeting looms Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar drifted higher on Wednesday after data showed the services sector in the world’s largest economy rebounded in May after contracting the month before, highlighting uncertainty surrounding the expected start of the Federal Reserve’s easing cycle later this year. The Institute for Supply Management said its nonmanufacturing …
US dollar rises as strong service sector data muddles Fed easing this year Read More »
