JOHANNESBURG (Reuters) -The South African rand weakened around 1% against the dollar on Friday, bringing this week’s rally to a halt as prolonged power blackouts and expectations the central bank will leave its main interest rate on hold next week weighed on the investor mood. The risk-sensitive rand has been a big beneficiary of data …
South African rand falls on prolonged power cuts, bets for SARB pause Read More »
By Sergio Goncalves (Reuters) -Angola’s central bank kept its main interest rate unchanged at 17% on Friday, citing a sharp depreciation of the local kwanza currency that is stoking inflationary pressure. The kwanza is one of the worst-performing African currencies this year as low oil prices and an increase in debt payments have made it …
Angola keeps rates on hold as kwanza’s fall stokes inflation pressure Read More »
By Rachel Savage and Jorgelina do Rosario JOHANNESBURG/LONDON (Reuters) -Zambia is expected to reach a debt restructuring deal with its international bondholders by the time the International Monetary Fund undergoes a second review of its rescue loan programme with the country later this year, an IMF official said on Friday. The IMF’s executive board on …
IMF says Zambia may reach bondholder debt deal by second review Read More »
JOHANNESBURG (Reuters) – South African bank Absa said on Friday its loan losses were expected to have risen above its target range in the first half of this year as consumers felt the burden of higher interest rates. The South African Reserve Bank has raised rates by 475 basis points since late 2021, taking its …
South African bank Absa flags above-target loan losses Read More »
By Chris Mfula LUSAKA (Reuters) – Zambia’s government has shortlisted companies that have submitted binding offers for Mopani Copper Mines and wants to select a new investor by July 31, its mines minister said on Friday. Sources told Reuters last month that China’s Zijin Mining and Norinco Group, South Africa’s Sibanye Stillwater and an investment …
Zambia plans to choose buyer of Mopani Copper Mines by month-end Read More »
JOHANNESBURG (Reuters) -The International Monetary Fund’s executive board has approved an immediate $189 million disbursement to Zambia following its first review of a $1.3 billion loan programme, the IMF said on Thursday. The IMF board meeting came after Africa’s second-biggest copper producer clinched a deal last month with governments abroad including China to rework about …
IMF approves $189 million payment to Zambia after first programme review Read More »
RABAT (Reuters) – The European Union said on Thursday it wants to ensure the continuity and sustainability of its fisheries partnership with Morocco. This came in a joint statement with Morocco sent to Reuters by the African kingdom’s foreign ministry, following an assessment in Brussels of the four-year fisheries protocol by the two parties. The …
EU wants ‘continuity’ of fisheries partnership with Morocco -statement Read More »
BENGHAZI (Reuters) -Production at Libya’s El Feel, Sharara and 108 oilfields was shut on Thursday in a protest against the abduction of a former finance minister, a tribal leader told Reuters on Thursday. The shutdown was confirmed by oil engineers and a protester. It is a protest by the Al-Zawi tribe against the kidnapping of …
By Camillus Eboh ABUJA (Reuters) -Nigeria’s Department of State Security (DSS) said on Thursday it had filed charges in court against detained and suspended central bank governor Godwin Emefiele following an earlier order to charge him or release him. Papers filed by government lawyers showed that Emefiele is facing criminal charges including misappropriation of funds, …
Nigeria charges suspended central bank chief after court ruling Read More »
By Lawrence Delevingne and Huw Jones (Reuters) -U.S. stocks rose again and global equities hit new highs for 2023 on Thursday, while the dollar and Treasury yields continued to slide, as slowing U.S. inflation stoked bets that the Federal Reserve will pause rate hikes after this month. Wall Street’s main stock indexes built on Wednesday’s …
Cooler inflation keeps stocks up, dollar and yields down Read More »
