Reuters Africa Business

South African rand weakens on firmer dollar, traders eye inflation data next week

17 Oct 2025

JOHANNESBURG (Reuters) -The South African rand was weak for most of Friday’s trading session, capping a volatile week dominated by renewed trade jitters, while investor attention shifted towards a domestic inflation print due next week. At 1509 GMT, the rand traded at 17.38 against the dollar, 0.2% weaker than Thursday’s close and in line with …

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Morocco, Russia renew deal on Russian fishing in Atlantic waters

17 Oct 2025

RABAT (Reuters) -Morocco and Russia renewed a deal on Friday allowing Russian ships to fish in Morocco’s Atlantic waters, the Moroccan foreign ministry said. The deal was signed by Moroccan Foreign Minister Nasser Bourita and Ilya Shestakov, the head of Russia’s federal fisheries agency, in Moscow, the ministry said in a statement. Under the four-year …

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Rio Tinto ramps up Simandou stockpiles to 2 million tons for first shipment

17 Oct 2025

By Maxwell Akalaare Adombila DAKAR (Reuters) -Rio Tinto has stockpiled 2 million metric tons of high-grade iron ore at its Simandou project in Guinea for a mid-November shipment, three sources told Reuters, which would be the first from the mega-mine set to reshape global supplies and pricing. In its third-quarter production report on Tuesday, Rio …

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UBS lifts global equities view to ‘attractive’ on AI boost

17 Oct 2025

By Joel Jose (Reuters) -UBS Global Wealth Management upgraded its stance on global equities to “attractive”, citing expected productivity gains from AI spending and a supportive policy backdrop.”Structural trends remain firmly in place. The wave of strategic partnerships among leading AI players reinforces our confidence in a sustained capex cycle and greater revenue visibility”, UBS …

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High prices, bad quality slow down Ivory Coast cocoa purchases, sources say

17 Oct 2025

ABIDJAN (Reuters) -Cocoa purchases in Ivory Coast have stalled at the start of the 2025/26 season, as a record farmgate price and poor-quality stocks deterred buyers and exporters, industry sources told Reuters. The world’s top cocoa producer raised its state-guaranteed price to 2,800 CFA francs ($5.05) per kilogram on October 1, a level traders described …

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Angola eyes June completion of debt swap deal with World Bank

17 Oct 2025

By Karin Strohecker and Colleen Goko WASHINGTON/JOHANNESBURG (Reuters) -Angola anticipates finalizing a debt-for-development swap with the World Bank before June, a senior debt management official said this week on the sidelines of the International Monetary Fund and World Bank annual meetings in Washington. “We are working with the World Bank on a debt-for-development swap, which …

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Huayou to start Zimbabwe lithium sulphate production early 2026

17 Oct 2025

By Chris Takudzwa Muronzi HARARE (Reuters) -China’s Zhejiang Huayou Cobalt will start producing lithium sulphate during the first quarter of 2026 from its new $400 million plant in Zimbabwe, the company said on Thursday, as the African country pushes for more local processing. The newly completed plant at Huayou’s wholly owned Prospect Lithium Zimbabwe’s Arcadia …

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Exclusive-CNPC keeps oil flowing in Niger as negotiations seek to tackle disputes, sources say

17 Oct 2025

By Chen Aizhu (Reuters) -China’s CNPC has continued to export crude from a newly expanded oilfield in Niger that has generated more than $2 billion in revenue despite disputes with government officials over hiring more local workers and improving their benefits, sources with knowledge of the situation said. The Chinese state oil giant has been …

Exclusive-CNPC keeps oil flowing in Niger as negotiations seek to tackle disputes, sources say Read More »

Egypt raises domestic fuel prices, freezes them for at least a year

17 Oct 2025

(Corrects percentage in paragraph 8 to 12.7% from 12.9%) By Enas Alashray CAIRO (Reuters) -Egypt raised prices on a wide range of fuel products on Friday, the country’s official gazette said, marking the second increase this year, in line with government policies to reduce subsidies and ease a budget deficit. The increases of 10.5% to 12.9% on a wide range of …

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Morocco will prioritize health, education spending in 2026 budget, finance minister says

17 Oct 2025

By Karin Strohecker WASHINGTON (Reuters) -Morocco will adjust its upcoming budget to prioritize spending on health and education as well as allocate some additional funds to reduce regional inequalities, Finance Minister Nadia Fettah Alaoui told Reuters.  Youth-led protests spread across the kingdom in recent weeks, revealing deep-seated anger over poverty and public services behind a …

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