JOHANNESBURG (Reuters) – Malawi’s central bank said on Friday that its Monetary Policy Committee (MPC) had decided to keep its policy rate unchanged at 26.0%. “The MPC noted that while inflation is expected to ease in 2025, there are still risks that could disrupt this outlook. In particular, the rapid growth in money supply is …
By Nicole Jao NEW YORK (Reuters) -Oil prices rose nearly 1% on Thursday as the market weighed how President-elect Donald Trump’s policies would affect supplies and as drillers cut output while bracing for Hurricane Rafael. A strong dollar and lower crude imports in China limited gains. On Wednesday, the election of Republican former President Trump …
Oil rises 1% as investors digest US election fallout Read More »
By Divya Rajagopal and Felix Njini TORONTO (Reuters) -Barrick Gold, the world’s No. 2 gold miner, is confident of concluding talks for a new mining code with Mali’s junta-led government before the end of the year, CEO Mark Bristow told Reuters on Thursday. Talks between Toronto-based Barrick and the authorities in Mali on how to …
Barrick sees deal with Mali over new mining code before year-end Read More »
JOHANNESBURG (Reuters) -South African assets recouped the previous day’s losses on Thursday ahead of a Federal Reserve interest rate announcement as the dollar gave back some of its gains linked to Donald Trump’s U.S. election win. At 1527 GMT, the rand traded at 17.28 against the dollar, about 2.1% stronger than its previous close. The …
South African assets stage recovery, eyes on Fed decision Read More »
By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghana’s crude oil output increased by 10.7% year-on-year in the first six months of 2024, reversing an annual production decline that began five years prior, the country’s public interest and accountability committee (PIAC) reported. Crude oil production in Ghana, Africa’s leading gold producer, began in 2010, but output …
Ghana sees first oil output increase in five years Read More »
CAPE TOWN (Reuters) – Angola intends to replicate its maiden multi-year licensing round for oil and gas acreage from 2026, a senior government energy official said on Thursday, as the country looks to boost production and investment. The first multi-year auction for 50 onshore and offshore blocks was for 2019-2025, as Angola strives to arrest …
Angola plans more multi-year oil and gas license rounds Read More »
LAGOS (Reuters) – Nigeria’s commercial capital Lagos on Thursday invited bids for construction of up to 4,000 megawatt (MW) gas-fired power plants to cover a national grid shortfall, seeking to end years of blackouts that have hit businesses and households. The World Bank says that four in 10 people in Nigeria, Africa’s most populous nation, …
Nigeria’s Lagos seeks investors for 4,000 MW gas-fired power plants Read More »
SINGAPORE (Reuters) – Rwanda’s monetary policy can remain accommodative as inflation is expected to remain under 5% through 2025, National Bank of Rwanda governor John Rwangombwa said on Thursday. Speaking to Reuters on the sidelines of a fintech event in Singapore, Rwangombwa also said growth in the East African nation was expected to come in …
Rwanda central bank chief says policy expected to stay accommodative Read More »
By Hereward Holland NAIROBI (Reuters) -Kenya’s biggest telecoms operator, Safaricom, lowered its full-year earnings guidance on Thursday, after reporting a sharp fall in net income due to the depreciation of Ethiopia’s birr currency. The company won the first licence to operate in Africa’s second most populous country, with about 120 million people, in 2022, following …
Safaricom trims forecast on Ethiopia’s birr depreciation Read More »
(Reuters) – Logistics company Grindrod has suspended port and terminal operations in Mozambique after South Africa temporarily closed the main border with its northeastern neighbour over safety concerns after a violent crackdown on post-election protests, the company said on Thursday. The suspension will hit the movement of goods and commodities in a region already battling …
Grindrod suspends port operations in Mozambique after border closure Read More »
