Reuters Africa Business

Northam Platinum pays first dividend after exiting race for RBPlat assets

25 Aug 2023

By Felix Njini NAIROBI (Reuters) -Northam Platinum declared its first dividend payout after bolstering its cash position by selling a stake in Royal Bafokeng Platinum (RBPlat) to rival Impala Platinum. The Johannesburg-based platinum group metals producer said it would pay investors 600 rand cents a share, or 2.4 billion rand ($129 million), and has also …

Northam Platinum pays first dividend after exiting race for RBPlat assets Read More »

Oil settles up, rebounds from lows after European storage report

24 Aug 2023

By Shariq Khan BENGALURU (Reuters) -Oil prices closed a volatile session slightly higher on Thursday, falling a dollar a barrel in early trading on demand worries and a strong dollar, but then bouncing back after a report of sliding gasoil stocks in Europe. Prices began to recover at mid-morning in New York after Dutch consultancy …

Oil settles up, rebounds from lows after European storage report Read More »

Nigeria’s president orders immediate resolution to disagreement with Emirates Airline

24 Aug 2023

By Felix Onuah ABUJA (Reuters) – Nigeria’s president, Bola Tinubu, has ordered an immediate resolution to disagreements with Emirates Airline and visa issuance by the United Arab Emirates, the president’s spokesman said on Thursday. The UAE stopped issuing visas to Nigerians last year after Dubai’s Emirates suspended flights due to an inability to repatriate funds …

Nigeria’s president orders immediate resolution to disagreement with Emirates Airline Read More »

BRICS payment system would not replace SWIFT -S.Africa finance minister

24 Aug 2023

JOHANNESBURG (Reuters) – South Africa’s finance minister said on Thursday that the BRICS grouping would not be looking to replace international payment systems including SWIFT, but rather consider creating one that would strengthen trade in local currencies. At the conclusion of a three-day BRICS summit in Johannesburg, the bloc’s leaders announced they would task their …

BRICS payment system would not replace SWIFT -S.Africa finance minister Read More »

BRICS bank can help African countries tackle urgent challenges

24 Aug 2023

(Reuters) -The New Development Bank created by BRICS countries in 2015 can help finance African countries’ projects to tackle their most urgent challenges, the bank’s president Dilma Rousseff said on Thursday. The BRICS countries are “good partners” for Africa, former Brazilian President Rousseff said in a speech in Johannesburg, adding the bank would finance physical …

BRICS bank can help African countries tackle urgent challenges Read More »

Botswana holds policy rate as inflation slowdown seen as temporary

24 Aug 2023

GABORONE (Reuters) – Botswana’s central bank kept its main interest rate unchanged at 2.65% on Thursday, saying that a fall in inflation to below its target range was likely to be temporary. Annual inflation fell sharply in July to 1.5%, from 4.6% in June. The Bank of Botswana’s objective inflation range is 3%-6% in the …

Botswana holds policy rate as inflation slowdown seen as temporary Read More »

South Africa’s Eskom says transmission company to be operational by 2025

24 Aug 2023

JOHANNESBURG (Reuters) – South Africa’s state power utility Eskom said in a presentation on Thursday that its transmission company will be operational by the first quarter of fiscal year 2025. President Cyril Ramaphosa announced in 2019 that the debt-laden utility would be split into three divisions – generation, transmission and distribution – to improve management …

South Africa’s Eskom says transmission company to be operational by 2025 Read More »

Close Bitnami banner
Bitnami