By Loucoumane Coulibaly BOUNDIALI, Ivory Coast (Reuters) – Ivory Coast officially opened a 37.5 megawatt (MW) solar power plant on Wednesday in what the government said was the first step of a plan to integrate more renewable energy into the power sector. Ivory Coast, the world’s top cocoa producer, is seeking to become a major …
Ivory Coast bets on solar as part of renewables drive Read More »
ABIDJAN (Reuters) – Ivory Coast contracts for the 2023/24 main cocoa crop between exporters and the Coffee and Cocoa Council (CCC) that could not be completed due to a bean shortage will be postponed to prevent exporters from defaulting, a CCC note seen by Reuters showed. As traders scramble for beans after disease and adverse …
Ivory Coast regulator postpones main crop cocoa contracts Read More »
By Nyasha Chingono HARARE (Reuters) – African development banks are seen as the most likely funders of Caledonia Mining Corporation’s planned $250 million gold mine in Zimbabwe, the mining company’s CEO Mark Learmonth said on Wednesday. Caledonia, which already owns the Blanket gold mine in Zimbabwe, is updating a feasibility study ahead of the planned …
African development banks expected to fund Caledonia’s new Zimbabwe mine, CEO says Read More »
JOHANNESBURG (Reuters) -South Africa’s rand recovered against the dollar on Wednesday, as focus in the absence of local economic data shifted towards a speech by U.S. Federal Reserve Chair Jerome Powell for clues on the timing of potential interest rate cuts. At 1541 GMT, the rand traded at 18.68 against the dollar, 0.5% stronger than …
South African rand recovers against dollar ahead of Powell’s speech Read More »
PRETORIA (Reuters) – South African policymakers are discussing lowering the central bank’s inflation target from its current range of 3% to 6%, central bank Governor Lesetja Kganyago said on Wednesday. Kganyago told Reuters that his personal preference was for a decision to be taken to lower the target “before we get to 2025,” but that …
South African policymakers discussing lower inflation target – Kganyago Read More »
By Alex Lawler, Ahmad Ghaddar and Maha El Dahan LONDON (Reuters) – An OPEC+ ministerial panel is unlikely to recommend any oil output policy changes at a meeting later on Wednesday, three OPEC+ sources told Reuters, following the producers’ earlier decision to extend voluntary oil output cuts until June. The Organization of the Petroleum Exporting …
OPEC+ unlikely to change output policy at panel meeting Read More »
CAIRO (Reuters) – An expanded IMF agreement and major investment by the UAE provided little relief to Egypt’s non-oil private sector in March, a survey showed on Wednesday. The S&P Global Purchasing Managers’ Index (PMI) for Egypt inched up to 47.6 in March from 47.1 in February but remained below the 50.0 threshold that separates …
Egypt’s non-oil business sector yet to gain from IMF deal, PMI shows Read More »
By Isaac Anyaogu LAGOS (Reuters) – Nigeria’s Dangote oil refinery started supplying petroleum products to the local market on Tuesday, a company executive and fuel marketing associations said, a major step in the country’s quest for energy independence. The refinery, Africa’s largest, was built on a peninsula on the outskirts of the commercial capital Lagos …
Nigeria’s Dangote refinery supplies petroleum products to local market Read More »
By Laura Sanicola (Reuters) -Oil prices settled higher on Tuesday after a session in which Ukrainian attacks on Russian energy facilities and escalating conflict in the Middle East pushed the Brent benchmark above $89 a barrel for the first time since October. Brent futures for June delivery settled up $1.50, or 1.7%, at $88.92 after …
Oil settles up on supply threats, hits 2024 highs during session Read More »
By Hannah Lang NEW YORK (Reuters) -The U.S. dollar was down on Tuesday after earlier hitting its highest in almost five months, following a new report that showed U.S. job openings held steady at higher levels in February. The Japanese yen was last up at 151.605 per dollar, after earlier dipping to 151.79. It has …
