JOHANNESBURG (Reuters) – South Africa recorded foreign direct investment (FDI) inflows of 604.3 billion rand ($41.15 billion) in 2021, a big jump from inflows of 50.4 billion rand in 2020, the central bank said on Tuesday. The South African Reserve Bank said in its Quarterly Bulletin publication that the inflows last year were mainly due …
South Africa FDI inflows jump in 2021, securities outflows soar Read More »
JOHANNESBURG (Reuters) – The International Monetary Fund and Mozambique have reached a staff-level agreement on a $470 million facility, the Fund said on Monday, in what would be the African nation’s first programme since the global lender suspended support six years ago. In 2016, Mozambique unveiled hefty state-backed borrowing it had previously failed to disclose, …
IMF staff agree $470 million programme for Mozambique Read More »
JOHANNESBURG (Reuters) -South Africa’s rand retreated from a five-month high against the dollar on Monday as the greenback strengthened, with China’s re-imposition of a lockdown in Shanghai impacting risk taking. At 1608 GMT, the rand traded at around 14.7006 against the dollar, 1.01% weaker than its close on Friday when it touched 14.4738, the strongest …
S.Africa’s rand pulls back as dollar firms, markets slightly down Read More »
LUSAKA (Reuters) – Zambia, Africa’s second-largest copper producer, said it plans to limit the number of mining licences that a company can hold at a time to curb speculation and promote investment. The ministry of mines last month suspended the issuance of mining licenses and commissioned an audit in response to public complaints about a …
Zambia to cap number of mining licences issued to single firms Read More »
NAIROBI (Reuters) -Kenya’s central bank has barred Ecobank from foreign exchange trading in the East African nation between March 29 and April 4 as part of regulatory action for unsafe trading practices, the regulator said on Monday. Under Governor Patrick Njoroge, who was first appointed in 2015, the central bank has taken a hard line …
Kenya’s central bank temporarily blocks Ecobank from FX trading Read More »
By Nqobile Dludla CAPE TOWN (Reuters) -South Africa’s Tiger Brands is co-investing in plant-based food company Herbivore Earthfoods with private equity firm Secha Capital, one of its directors said on Monday, as the food producer forays into the fast-growing plant protein sector. Demand for plant-based meal replacements has risen in recent years, with much of …
Tiger Brands bets on plant-based food with Herbivore Earthfoods investment Read More »
KAMPALA (Reuters) – Uganda’s sole power distributor Umeme Limited said on Monday its pretax profits jumped 34% last year as a loosening of COVID-19 restrictions fuelled a surge in demand for energy. Umeme said its pre-tax profit rose to 642.2 billion shillings ($179 million) in the twelve months to end-December, compared with 478.9 billion shillings …
Uganda power distributor Umeme 2021 pretax profit jumps 34% Read More »
ABIDJAN (Reuters) – Cocoa arrivals at ports in top grower Ivory Coast had reached 1.676 million tonnes by March 27 since the start of the season on Oct. 1, up 1.8% from the same period last season, exporters estimated on Monday. About 11,000 tonnes of beans were delivered to Abidjan port and 14,000 tonnes to …
Ivory Coast 2021/22 cocoa arrivals seen at 1.676 million T by March 27 Read More »
JOHANNESBURG (Reuters) – Telkom said on Monday it had enough room on its balance sheet to pay 2.1 billion rand ($143.73 million) for bands of radio frequency spectrum it bought in a recent auction, despite negative free cash flow that tracked below expectations. The South African firm, 40% owned by the government, and fellow telecom …
S.Africa’s Telkom says it can fund $144 million cost for spectrum Read More »
DOHA (Reuters) – Lebanese Prime Minister Najib Mikati told the Algerian foreign minister in a meeting on Sunday that he hoped Algiers would consider exempting Lebanon from an Algerian sugar export ban. The news was published by Mikati’s office on Twitter, after Algeria banned on March 13 the export of foodstuffs that it imports including …
Lebanon asks to be exempt from Algeria’s sugar export ban Read More »
