Reuters Africa Business

By Nellie Peyton, Alexander Winning JOHANNESBURG (Reuters) -South African President Cyril Ramaphosa, who has staked his reputation on cleaning up the image of the ruling African National Congress, will lead the party toward its biggest test of the democratic era when South Africans vote on Wednesday. Ramaphosa, who helped found the country’s biggest mining union …

South Africa’s Ramaphosa steers ANC into potentially pivotal election Read More »

By Rachel Savage and Duncan Miriri JOHANNESBURG/NAIROBI (Reuters) – China’s flagship economic cooperation program is bouncing back after a lull during the global pandemic, with Africa a primary focus, according to a Reuters analysis of lending, investment and trade data. Chinese leaders have been citing the billions of dollars committed to new construction projects and …

Post-COVID, China is back in Africa and doubling down on minerals Read More »

By Sinéad Carew and Alun John NEW YORK/LONDON (Reuters) -A global equities gauge fell slightly on Tuesday while U.S. Treasury yields rose to multi-week peaks as investors waited cautiously for inflation data due later in the week with hopes for clues on the outlook for U.S. interest rates. U.S. Treasury yields gained ground after a …

Global equity index dips, yields rise with inflation data in focus Read More »

By Karen Brettell (Reuters) -The dollar gained on Tuesday, giving back earlier losses, as benchmark U.S. Treasury yields hit a four-week high following some weak auctions. The Treasury Department saw soft demand for sales of two-year and five-year notes. They came after data showed that U.S. consumer confidence unexpectedly improved in May after deteriorating for …

Dollar rebounds as yields rise, consumer confidence improves Read More »

By Karin Strohecker LONDON (Reuters) -Zambia’s ministry of finance said on Tuesday more than 90% of holders of its $3 billion in outstanding international bonds had accepted its restructuring proposal, paving the way for it to emerge from a lengthy default. The country defaulted more than three years ago and is reworking its debt under …

Zambia to emerge from debt default as bondholders back $3 billion restructuring Read More »

JOHANNESBURG (Reuters) -The South African rand strengthened a day before a national election on Wednesday which could see the ruling party lose its majority for the first time in 30 years. At 1605 GMT, the rand traded at 18.2775 against the dollar, around 0.6% stronger than its previous close. The dollar last traded around 0.12% …

South African rand strengthens on eve of national election Read More »