By Joe Bavier and Duncan Miriri NAIROBI (Reuters) – Norah Nasimiyu knows the future of Kenya’s garment trade, which has employed her for 13 years and helped her put six children through school and university, lies in the hands of the U.S. Congress. And like others, she is worried. U.S. officials visiting South Africa this …
Analysis-African apparel industry’s future hangs on a U.S. thread Read More »
By Nellie Peyton (Reuters) – South Africa will host the annual African Growth and Opportunity Act (AGOA) Forum in Johannesburg from Nov 2-4 to discuss the United States’ flagship trade programme for the continent. Here are some key facts about AGOA: WHAT IS AGOA? The African Growth and Opportunity Act is a U.S. trade initiative …
Factbox-The U.S. African Growth and Opportunity Act (AGOA) Read More »
By Caroline Valetkevitch and Herbert Lash NEW YORK (Reuters) – The yen slid across the board and hit a 15-year low against the euro on Tuesday after the Bank of Japan’s move to loosen monetary policy was seen as inadequate, while global stock indexes rose a day before the Federal Reserve meets to decide on …
Yen slides after minor BOJ policy tweak, stocks gain Read More »
By Miguel Gomes LUANDA (Reuters) – Angola should let its currency float, International Monetary Fund officials said on Tuesday during a visit to the southern African country, where authorities have kept the kwanza in a tight range for months. The government let the kwanza drop by more than one-third over May and June, with analysts …
Angola should let currency float, IMF officials say on visit Read More »
LAGOS (Reuters) – Nigeria’s Lagos state has secured a partnership with African Export-Import Bank and Access Bank for an investment of $1.35 billion for infrastructure projects, its governor Babajide Sanwo-Olu said on Tuesday. Sanwo-Olu said the investment will be used to develop a bridge project, a creek project, and expand its light rail project in …
Nigeria’s Lagos gets $1.35 billion deal with Afrexim, Access on investments Read More »
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices eased on Tuesday as markets worried less about potential supply disruptions from the Middle East conflict and on data showing rising output from OPEC and the United States. Brent crude futures for December delivery, settled 4 cents lower at $87.41 a barrel, ahead of their expiry later …
NAIROBI (Reuters) – Kenya’s annual inflation rate rose slightly in October, with price rises for fuel, transport and food important contributors, data from the statistics agency showed on Tuesday. Inflation reached 6.9% year-on-year in October, up from 6.8% a month earlier. On a month-on-month basis inflation was 1.0%, the same as in September, the Kenya …
Kenyan inflation edges up in October, fuel a big driver Read More »
KIGALI (Reuters) -The International Monetary Fund said on Tuesday that a mission to Rwanda had agreed a new 14-month Stand-by Credit Facility worth $262 million to help the East African country deal with balance of payment pressures from climate shocks. IMF staff and Rwanda also reached agreement on policies needed to complete the second reviews …
Rwanda set for new $262 million IMF stand-by facility Read More »
WASHINGTON (Reuters) – Mauritania’s trade preference benefits under the African Growth and Opportunity Act will be reinstated on Jan. 1, 2024 after the northwest African country made “substantial and measurable progress on worker rights and eliminating forced labor,” the U.S. Trade Representative’s office said on Tuesday. The reinstatement of Mauritania’s trade benefits suspended in 2019 …
U.S. to restore Mauritania’s AGOA trade preferences after worker rights progress Read More »
(Reuters) -South Africa’s Impala Platinum will reduce planned spending across its business to reflect current low metal prices, the company said on Tuesday. The prices of platinum group metals (PGM), which are used by automakers for catalysts that help curb toxic emissions, have fallen steeply this year, squeezing miners still facing high operational costs. Platinum …
Impala Platinum to cut spending after metal price decline Read More »
