JOHANNESBURG (Reuters) -Gabon moved forward with Africa’s first debt-for-nature swap on Tuesday in a deal that saw the country buy back a nominal $500 million of its international debt and price an equal size eco-friendly blue amortizing bond that will mature in 2038. Buying bonds back at a discount, Gabon accepted a total of $436 …
Gabon sees Africa’s first ‘debt-for-nature’ swap over the line Read More »
JOHANNESBURG (Reuters) -South Africa’s rand slipped again on Tuesday as weak economic data from China kept investors away from risk-sensitive currencies. At 1506 GMT, the rand traded at 19.0025 against the dollar, down around 1.6% from its previous close. The currency has lost more than 6% against the greenback this month. The dollar last traded …
South African rand extends losses on weak China data Read More »
By Nyasha Nyaungwa WINDHOEK (Reuters) – Japan on Tuesday signed an agreement with Namibia to jointly explore for rare earth minerals as part of its broader plan to develop supply chains for cobalt and other minerals used in making electric vehicle batteries. The Japan Organization for Metals and Energy Security (JOGMEC) will collaborate with Namibia’s …
Japan signs deal with Namibia to explore for rare earth minerals Read More »
By Bate Felix and Anait Miridzhanian DAKAR (Reuters) – Niger’s regional and Western allies have announced a series of sanctions against the country following the July 26 coup. Niger is the world’s seventh-biggest producer of uranium, the radioactive metal widely used for nuclear energy and treating cancer. It is also one of the world’s poorest …
Factbox-What sanctions have been imposed on Niger since the coup? Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) -South Africa’s Nedbank Group, amongst the top five lenders in the country, warned on Tuesday that its bad loans would stay elevated for the rest of the year and it could miss its 2025 financial targets. But its shares were up 2.5% in early trading as profit for the six …
S.Africa’s Nedbank warns of sticky bad loans, 2025 targets at risk Read More »
(This Aug. 7 story has been corrected to remove incorrect paragraph on Piedmont’s supply to Tesla relying partly on Atlantic’s Ghana operations, and to change 2011 to 2021 in paragraph 3) (Reuters) – Atlantic Lithium said on Monday the Africa-focused company was confident of getting a lease for a lithium mine in Ghana following the …
Atlantic Lithium says it is confident of getting mining lease in Ghana Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices settled down 1% on Monday, after six straight weekly gains, as investors braced for weaker demand from China and the United States, the world’s two biggest economies. Brent crude settled 90 cents, or 1.04% lower, at $85.34 a barrel. U.S. West Texas Intermediate crude settled down 88 cents, …
By Herbert Lash NEW YORK (Reuters) -A gauge of global equities rose and the dollar edged higher on Monday, reversing downward moves after a mixed U.S. jobs report last week, as investors await U.S. and Chinese inflation data that could test the stock market’s recovery this year. The dollar recovered from a one-week low on …
Stocks, dollar gain ahead of key inflation data this week Read More »
JOHANNESBURG (Reuters) -The South African rand fell on Monday as global markets were in a cautious mood after a mixed U.S. jobs report and ahead of U.S. and Chinese inflation figures later this week. At 1502 GMT, the rand traded at 18.7150 against the dollar, about 1.41% weaker than its closing level on Friday. The …
South African rand on back foot as caution reigns Read More »
By Sarah El Safty CAIRO (Reuters) – Egypt’s natural gas production fell to a three-year low in the first five months of 2023, figures from the Joint Organisations Data Initiative (JODI) show, raising questions about the country’s efforts to position itself as a regional energy hub. Currently the country is grappling with power shortages when …
Egypt’s natural gas production declines and power cuts bite Read More »
