By Maxwell Akalaare Adombila ACCRA (Reuters) – Ghanaian independent power producer Sunon Asogli said it has delayed for a week a threatened shutdown at its 560 MW gas-fired power plant after reaching an interim payment agreement for $60 million of its debt with the government. The company, which owns around 10% of the West African …
Ghana’s Sunon Asogli delays power plant shutdown after interim debt deal Read More »
JOHANNESBURG (Reuters) -The South African rand fell on Tuesday as third-quarter gross domestic product (GDP) contracted slightly more than expected and the U.S. dollar rose on global markets. At 1615 GMT, the rand traded at 18.9950 against the dollar, around 1% weaker than its previous close. The dollar last traded around 0.2% stronger against a …
South African rand falls as third-quarter GDP contracts Read More »
By George Obulutsa and Duncan Miriri NAIROBI (Reuters) -Kenya’s central bank unveiled a big interest rate hike on Tuesday aimed at stabilising the shilling currency, whose depreciation has spurred price pressures, curbed foreign investment and affected debt-servicing. The Central Bank of Kenya raised its policy rate by 2 percentage points to 12.5%, its first hike …
Kenya central bank tries to stabilise shilling with big rate hike Read More »
By Chris Mfula LUSAKA (Reuters) – Zambia’s Copperbelt Energy Corporation (CEC) will issue the southern African country’s first green bond by the end of the year, the power company said on Tuesday, with a $54 million note to be sold as part of a $200 million green bond programme. The proceeds will be used to …
COP28: Zambia’s first green bond to be issued by year-end by Copperbelt Energy Corp Read More »
By Kopano Gumbi PRETORIA (Reuters) -The South African economy recorded a minor contraction in the third quarter of this year as output fell in the agriculture, mining and construction industries, statistics agency data showed on Tuesday. The 0.2% contraction in quarter-on-quarter seasonally adjusted terms was slightly larger than the 0.1% predicted by analysts polled by …
South African economy contracts marginally in third quarter Read More »
NAIROBI (Reuters) – Kenya’s private sector activity declined for a third straight month in November, a survey showed on Tuesday, as businesses struggled with soaring costs. The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) fell to 45.8 last month, from 46.2 in October. Readings above 50.0 signal growth in business activity, while those below point …
Kenya private sector activity contracts for third month in Nov -PMI Read More »
JOHANNESBURG (Reuters) – South African private sector business activity flatlined in November, with a cooling of price pressures counteracted by supply chain disruptions due to a port crisis, a survey showed on Tuesday. The S&P Global South Africa Purchasing Managers’ Index (PMI) rose to 50.0 in November from 48.9 in October. A reading above 50 …
South African business activity flatlines in November -PMI Read More »
ACCRA (Reuters) – Ghanaian independent power producer Sunon Asogli indefinitely suspended operations at its 560 MW gas-fired power plant on Monday, citing unpaid government debt and what it called unproductive engagements to find a solution. “This is our last resort. The accumulating unpaid bills have significantly impacted our operational capacities, making it unsustainable to continue …
Ghana’s Sunon Asogli suspends power supply over unpaid government debt Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices fell on Monday on concern about a drop in demand and on continued uncertainty about the depth and duration of OPEC+ supply cuts. Brent crude futures settled down 85 cents, or 1.08%, at $78.03 a barrel. U.S. West Texas Intermediate crude futures finished down $1.03, or 1.39%, at …
Oil falls on doubts OPEC+ will make further cuts Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -A gauge of global stocks was poised to snap a four-session winning streak on Monday while Treasury yields rose as investors awaited U.S. labor market data to indicate the likely route of the Federal Reserve’s rate policy. Softening economic data and recent comments from Fed officials, including Chair Jerome …
Stocks retreat after rally with jobs data eyed, yields climb Read More »
