Reuters Africa Business

By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund on Wednesday said its executive board has approved members to use their Special Drawing Rights (SDRs), or IMF reserve assets, to acquire so called hybrid capital bonds issued by multilateral development banks. The Inter-American Development Bank (IDB) and the African Development Bank (AfDB), which had …

IMF board approves members to channel reserve assets to MDBs for hybrid instruments Read More »

JOHANNESBURG (Reuters) – South Africa’s rand held onto its gains on Wednesday, after encouraging domestic retail sales figures and a U.S. inflation report. At 1400 GMT, the rand traded at 18.3525 against the dollar, 0.22% stronger than its previous close. The dollar index was last trading down 0.25% against a basket of currencies. U.S. consumer …

South African rand firms after local retail sales, US inflation data Read More »

By Elisha Bala-Gbogbo ABUJA (Reuters) -Nigeria’s headline consumer inflation accelerated to a new 28-year high in April, hitting 33.69% year-on-year, up from 33.20% in March, statistics agency data showed on Wednesday. Inflation in Africa’s most populous nation has been spurred by President Bola Tinubu’s administration slashing petrol and electricity subsidies and twice devaluing the local …

Nigeria inflation scales new 28-year peak in April Read More »

SEOUL (Reuters) -Qatar Airways will soon announce an investment in an airline in southern Africa, its CEO said on Wednesday, part of the Gulf carrier’s drive to expand its network in Africa. “We are at the final stage of an equity investment in an airline in the southern part of Africa,” Badr Mohammed Al Meer …

Qatar Airways to invest in an airline in southern Africa, CEO says Read More »