By Duncan Miriri NAIROBI, Dec 15 (Reuters) – The African Development Bank (AfDB) opened a donor-pledging conference on Monday for its fund that lends money to low-income countries on favourable terms, seeking to offset a retreat in U.S. support that threatens its $25 billion target. Earlier this year, the Trump administration withheld a $197 million …
JOHANNESBURG, Dec 15 (Reuters) – South Africa recorded foreign direct investment outflows of 21.0 billion rand ($1.25 billion) in the third quarter of 2025, down from outflows of 73.5 billion rand in the second quarter, central bank data showed on Monday. The South African Reserve Bank said in its Quarterly Bulletin that the outflows were …
By Isaac Anyaogu LAGOS, Dec 15 (Reuters) – Nigeria’s richest man Aliko Dangote escalated his fight with regulators on Sunday, accusing them of enabling cheap fuel imports that threaten local refineries. Nigeria is Africa’s biggest oil producer but relies heavily on imports and Dangote’s refinery was meant to change that. Dangote said if imports continue …
Nigeria’s richest man Dangote escalates oil fight with regulator, seeks corruption probe Read More »
CAIRO, Dec 14 (Reuters) – Egypt signed a contract with Qatar’s Al Mana Holding for a first-phase investment of $200 million to produce sustainable aviation fuel from used cooking oil in the Suez Canal Economic Zone at Ain Sokhna, Egypt’s cabinet said on Sunday. The project will be developed in three phases and will span …
Egypt, Qatar’s Al Mana Holding sign $200 million sustainable aviation fuel deal Read More »
By Caroline Valetkevitch NEW YORK, Dec 12 (Reuters) – Major stock indexes fell on Friday, with technology-related shares dropping again as investors were wary of artificial intelligence bets, while the dollar edged higher and U.S. Treasury yields jumped. Yields gained as investors weighed commentary from Federal Reserve officials who voted against the U.S. central bank’s …
Stocks drop as AI exuberance worries linger; US yields jump Read More »
By Gertrude Chavez-Dreyfuss NEW YORK, Dec 12 (Reuters) – The U.S. dollar rose against major currencies on Friday after falling in recent sessions, but was still on track for its third straight weekly drop amid the prospect of interest rate cuts by the Federal Reserve next year. Sterling also eased after data showed the UK …
US dollar advances after recent fall; sterling dips after GDP data Read More »
ABUJA, Dec 12 (Reuters) – Nigeria has issued permits to 28 companies under a programme that aims to end routine gas flaring to cut carbon emissions and use some of the gas to generate power. The Nigerian Gas Flare Commercialisation Programme (NGFCP) marks a major step toward ending flaring and monetising wasted gas, NGFCP officials …
By Nqobile Dludla JOHANNESBURG, Dec 12 (Reuters) – South Africa will amend rules on local Black ownership requirements after a directive from the telecommunications minister, which could pave the way for satellite-internet companies, including Elon Musk’s Starlink, to operate in the country. Starlink’s parent company SpaceX wrote to the telecoms regulator ICASA last year saying …
By Portia Crowe Dec 12 – A Malian judge has ordered the return of possession of 3 metric tons of gold seized nearly a year ago from Barrick Mining’s Loulo-Gounkoto complex to the Canadian miner, according to two people familiar with the matter. The gold, worth about $400 million, was seized by a military helicopter …
Exclusive-Mali returns possession of 3 tons of seized gold to Barrick, sources say Read More »
JOHANNESBURG, Dec 12 (Reuters) – The South African rand was steady on Friday, supported by higher gold prices, while traders looked ahead to consumer inflation data due next week for signals on the health of Africa’s most-industrialised economy. At 1420 GMT, the rand traded at 16.8625 per dollar, little changed from Thursday’s close, as gold …
Higher gold prices keep South African rand steady ahead of local inflation data Read More »
