Reuters Africa Business

Nigeria’s Dangote Group says it is cooperating with FX investigation

7 Jan 2024

LAGOS (Reuters) – Nigeria’s Dangote Group said on Sunday it was cooperating with an anti-graft commission which is investigating the possible misuse of foreign exchange from the central bank and would provide all required information. In its first comments since the Economic and Financial Crimes Commission (EFCC) visited the company’s headquarters in Lagos last week, …

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Libya’s NOC declares force majeure at Sharara oilfield

7 Jan 2024

TRIPOLI (Reuters) – Libya’s National Oil Corporation (NOC) on Sunday declared a force majeure with immediate effect at its Sharara oilfield, which can produce up to 300,000 barrels per day, due to protests in the area. Libya’s oil output has been disrupted repeatedly in the chaotic decade since the 2011 NATO-backed uprising against its former …

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Somalia president signs law nullifying Ethiopia-Somaliland port deal

7 Jan 2024

By Abdi Sheikh MOGADISHU (Reuters) – Somalia’s President Hassan Sheikh Mohamud signed a law nullifying an agreement by the breakaway Somaliland region to grant Ethiopia access to the Red Sea in return for recognition as an independent nation, he said late on Saturday. Ethiopian Prime Minister Abiy Ahmed’s stated ambition to secure access to the …

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Stocks edge up, bond yields dip as investors mull ‘soft landing’

6 Jan 2024

By Herbert Lash and Naomi Rovnick NEW YORK/LONDON (Reuters) -Bond prices slid and a gauge of global equity performance closed a tad higher in choppy trading on Friday after a surprisingly strong U.S. labor report increased the odds that the Federal Reserve can engineer a “soft landing” for the economy. U.S. employers hired more workers …

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Dollar flat after mixed US data, on pace for best weekly gain since July

5 Jan 2024

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar was little changed on Friday after a rally in response to mixed data that suggested the world’s largest economy showed pockets of weakness but remained resilient overall. The dollar index was flat at 102.43 in afternoon trading after hitting 103.10 in wake of the stronger-than-expected U.S. jobs …

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Nigeria’s top court says Shell’s appeal should be heard after oil spill claim

5 Jan 2024

By Camillus Eboh ABUJA (Reuters) – Nigeria’s Supreme Court on Friday ruled that Shell should be granted a hearing over an alleged oil spill in the Niger Delta after the Court of Appeal halted an asset sale and ordered a judgement claim to be paid prior to hearing its case. The case, one of several …

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Exclusive-Ghana official creditors to meet Monday, mull debt restructuring terms -sources

5 Jan 2024

By Rachel Savage, Maxwell Akalaare Adombila and Jorgelina do Rosario JOHANNESBURG/ACCRA/LONDON (Reuters) – Ghana’s official creditors are scheduled to meet on Monday to discuss restructuring some $5.4 billion in loans to the country, three sources told Reuters, a key step needed to secure its next tranche of funding from the International Monetary Fund. The bilateral …

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