LONDON (Reuters) – High offer prices for West African crude grades continued on Friday as crude from the region sold relatively swiftly and at high prices, traders said. * Uruguay’s Ancap closed a tender for early April-arriving crude, though results did not immediately emerge. * Fewer than ten cargoes of March-loading Angolan crude remain to …
JOHANNESBURG (Reuters) – South African state-owned power utility Eskom said on Friday it would reduce scheduled power cuts from 9 p.m. local time (1900 GMT) following an improvement in generation capacity. Eskom had been implementing “Stage 2” power cuts which require up to 2,000 megawatts (MW) to be shed from the national grid, but it …
South Africa’s Eskom to reduce power cuts from 9 p.m. local time Read More »
By Emma Rumney and Isla Binnie JOHANNESBURG (Reuters) – African Infrastructure Investment Managers (AIIM) has submitted an indicative bid for a 60% stake in Lekela Power, one of Africa’s largest renewable energy companies that could be worth $2 billion in total, two sources familiar with the matter said. Lekela’s majority shareholder, private equity firm Actis, …
AIIM in bidding race for $2 billion African renewables firm Lekela -sources Read More »
JOHANNESBURG (Reuters) -The South African rand weakened on Friday, eating into the week’s gains as the U.S. dollar was bolstered by much better-than-expected jobs numbers. At 1500 GMT, the rand traded at 15.4800 against the dollar, around 1.3% weaker than its previous close but still up around 0.8% on last Friday’s closing level. The dollar …
South African rand weaker as U.S. jobs data boosts dollar Read More »
HARARE (Reuters) – Zimbabwe has reduced the portion of taxes payable in foreign currency, Finance Minister Mthuli Ncube said on Friday, as the country tries to reduce U.S dollar demand and stop the rapid devaluation of the local currency. The southern African country reintroduced its currency in 2019 after a decade of dollarisation, but it …
Zimbabwe eases forex tax rules to shore up local currency Read More »
By Ron Bousso LONDON (Reuters) – Shell and its partners have made what the oil major described as an “encouraging” discovery in a closely-watched exploration well off the coast of Namibia, which could spark a wave of investment in the south African country. Shell said in a statement that results from the deep water Graff-1 …
Shell makes ‘encouraging’ oil discovery offshore Namibia Read More »
NAIROBI (Reuters) – Kenya’s first mortgage refinancing company is selling a 10.5 billion shilling ($93 million) medium term note, whose proceeds will be lent out to commercial banks to increase affordable home ownership, the company said on Friday. President Uhuru Kenyatta pledged to boost housing ownership levels upon re-election in 2017. He set a goal …
Kenya Mortgage Refinance starts selling first bond to boost home ownership Read More »
ZURICH (Reuters) – Credit Suisse has signed a deal with Barclays to take on rich clients in parts of Africa after it decided to exit wealth management in nine countries, the Swiss bank said on Friday, confirming an earlier Bloomberg report. “Credit Suisse has signed a private banking client referral agreement with Barclays as part …
Credit Suisse refers some African wealth management clients to Barclays Read More »
JOHANNESBURG (Reuters) – The Johannesburg Stock Exchange (JSE) has suspended South African state-owned defence company Denel’s bonds after it failed to submit financial results within the required timeframe. The suspension means investors cannot trade Denel’s bonds on the JSE’s secondary market nor can Denel sell more debt on the primary market. It marks the latest …
South African defence firm Denel’s bonds suspended from local exchange Read More »
JOHANNESBURG (Reuters) -South African stocks snapped a three-day winning streak on Thursday as weak commodity prices dragged the sector, while the Bank of England’s interest rate hike hit global risk appetite. The benchmark all-share index fell 0.22% to 75,021 points and the blue-chip index of top 40 companies ended down 0.28% at 68,461 points. The …
South Africa’s stocks snap 3-day winning streak in risk-off trade Read More »
