Reuters Africa Business

By Libby George LONDON (Reuters) – Egypt’s blockbuster cash infusions, currency devaluation and interest rate hike are not quite enough for Fitch to adjust the country’s credit rating, the agency’s head of Middle East and Africa sovereigns told Reuters. The North African nation, which has been struggling with a prolonged economic crisis linked to chronic …

Fitch says Egypt must prove reforms are lasting before credit rating action Read More »

By Joe Cash BEIJING (Reuters) – Chinese President Xi Jinping said he would support Chinese firms that invest in Angola’s agriculture and manufacturing sectors, state media reported on Friday, as the African oil producing nation seeks help in diversifying its economy. “The Chinese side is willing to work with Angola to implement key infrastructure projects …

China’s Xi willing to work with Angola as it moves on from oil Read More »

By Kopano Gumbi and Bhargav Acharya JOHANNESBURG (Reuters) -South African President Cyril Ramaphosa has extended the term of central bank governor Lesetja Kganyago for another five years from November and appointed Mampho Modise as a new deputy governor of the bank, the presidency said on Friday. “The re-appointment of Governor Kganyago will ensure continuity and …

South African president extends central bank governor’s term, appoints new deputy Read More »

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. Asian markets are likely to come under downward pressure at the open on Friday, following the sharp rise in U.S. bond yields and the dollar the previous day on the back of yet another hotter-than-expected U.S. inflation report. Wall Street’s late …

Morning bid: Markets under pressure, China house prices eyed Read More »

By Joe Bavier MARIKANA, South Africa (Reuters) – The United States is looking to Africa to help loosen a Chinese stranglehold on battery metals and reduce Russia’s influence over the market for other minerals, U.S. Deputy Treasury Secretary Wally Adeyemo said on Thursday. Coronavirus pandemic fallout and Moscow’s war in Ukraine have sent Western governments …

Africa to play ‘huge role’ in US critical mineral strategy, says Treasury’s No. 2 Read More »