Reuters Africa Business

ACCRA (Reuters) – The International Monetary Fund said on Tuesday it was “optimistic” that Ghana and its official bilateral creditors would reach a debt restructuring deal soon, paving the way for another $600 million IMF loan payment to the country. Discussions between Ghanaian authorities and the Official Creditor Committee, co-chaired by China and France, are …

IMF ‘optimistic’ Ghana will reach official creditor debt deal soon Read More »

JOHANNESBURG (Reuters) – Global diamond giant De Beers said it will go ahead with a planned $1 billion investment to extend the life of its flagship Jwaneng mine in Botswana, even as last year’s downturn in gem demand persists. The Anglo American unit and the Botswana government, which jointly own Debswana Diamond Company, have approved …

De Beers approves $1 billion spending at Botswana mine Read More »

CAIRO (Reuters) -Egypt’s annual urban consumer price inflation rate eased to 33.7% in December from 34.6% in November, data from statistics agency CAPMAS showed on Wednesday. The figure was slightly higher than the median 33.4% forecast by 14 analysts. Month-on-month, prices rose by 1.4% in December, up from 1.3% in November. Food prices jumped by …

Egypt’s annual headline inflation slows to 33.7% in December Read More »

By Arathy Somasekhar and Laura Sanicola HOUSTON (Reuters) – Cheap gasoline from a supply glut along the U.S. Gulf Coast has reopened far-flung markets including Australia and Mozambique to exports of the U.S. fuel. U.S. gasoline demand at the end of December fell to the lowest in a year. Stocks in PADD 3 along the …

Cheap US gasoline heads to Australia, Mozambique in rare shipments Read More »

By Ahmad Ghaddar, Libby George and Chijioke Ohuocha LONDON/ABUJA (Reuters) – Nigeria’s state oil company NNPC is expected to supply four crude cargoes from its February programme to the $20 billion Dangote refinery, which is poised to begin operations after years of construction delays, three sources with direct knowledge of the matter told Reuters. What …

Nigeria’s NNPC allocates four February crude oil cargoes to Dangote Read More »

JOHANNESBURG (Reuters) -South Africa’s rand weakened on Tuesday, as dollar gained ahead of a highly anticipated reading on U.S. inflation due later this week. At 1535 GMT, the rand traded at 18.6600 against the dollar, 0.3% lower than its previous close. The dollar was last up around 0.14% at 102.44 against a basket of currencies. …

South African rand slips ahead of US inflation data Read More »