JOHANNESBURG (Reuters) -The South African rand strengthened below 19 to the U.S. dollar for the first time in three weeks on Wednesday, as a weakening greenback and an easing of rolling power cuts boosted the currency. The rand firmed more than 1% at 18.975 to $1, its strongest level since May 16, before retreating to …
South African rand firms below 19 to US dollar as power cuts ease Read More »
By Duncan Miriri (Reuters) -Kenya’s national assembly on Wednesday approved President William Ruto’s pick of economist and senior civil servant, Kamau Thugge, as the next central bank governor. Thugge, who served as the principal secretary, No. 2 official, in the finance ministry until mid-2018, was nominated to the post by Ruto last month after serving …
Kenya’s parliament approves appointment of new central banker Read More »
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s central bank allowed the naira to drop about 2% on the official market to a record low on Wednesday, but the currency’s rate remained above where it trades at central bank auctions and on the black market. Nigeria is trying to find a way to unify its multiple …
Nigeria central bank allows naira to weaken 2% to record low Read More »
By Maxwell Akalaare Adombila and Jorgelina do Rosario ACCRA/LONDON (Reuters) – Ghana has sent a debt restructuring proposal to its official creditors, two sources with direct knowledge of the matter said, as the West African country battles to escape its worst economic crisis in a generation. The “working proposal” is a crucial first step for …
Ghana sends debt rework proposal to official creditors: sources Read More »
JOHANNESBURG (Reuters) – South Africa’s Emira Property Fund said on Wednesday that its distributable earnings were 558.0 million rand ($29.29 million) in the nine months to the end of March, versus 673.9 million rand in the 12 months to the end of June 2022. The company has moved its year-end from June 30 to March …
Emira Property Fund 9-mth distributable earnings at $29 million Read More »
By Felix Njini and Sonia Rolley (Reuters) – Eurasian Resources Group has asked authorities in Congo to reconsider a three-month ban imposed on its Boss Mining unit’s copper and cobalt operations after the government accused the miner of polluting the environment. The Democratic Republic of Congo’s mines ministry temporarily halted Boss Mining’s operations in Katanga …
ERG asks Congo to lift copper unit ban, denies pollution charge Read More »
(Reuters) – South Africa’s business confidence fell in the second quarter of 2023 to the lowest in three years, dragged down by persistent power outages, rising interest rates and cost pressures weighing on profitability, a survey published on Wednesday showed. The survey by the Rand Merchant Bank (RMB) and compiled by the Bureau for Economic …
S.Africa’s business confidence index falls further in second quarter- survey Read More »
By Duncan Miriri NAIROBI (Reuters) – Kenya’s economy is expected to grow at a slightly faster pace this year, the World Bank said on Wednesday, underpinned by a recovery in the key agriculture sector. The East African nation’s economy will expand by 5.0% in 2023, the bank said in its latest biannual Kenya Economic Update …
Kenya economic growth to edge up this year, World Bank says Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices eased about 1% on Tuesday as worries that sluggish global economic growth could reduce energy demand outweighed Saudi Arabia’s pledge to deepen output cuts. Brent futures fell 42 cents, or 0.6%, to settle at $76.29 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 41 cents, …
Oil prices ease as economic fears overshadow Saudi output cut Read More »
JOHANNESBURG (Reuters) -The South African rand and stocks rose in afternoon trade on Tuesday after the country’s gross domestic product (GDP) figures showed marginal growth in the first quarter. At 1605 GMT, the rand traded at 19.2300 against the dollar, around 0.17% stronger than its previous close. South Africa narrowly avoided a recession in the …
South African rand and stocks strengthen after GDP data Read More »
