Reuters Africa Business

By Promit Mukherjee JOHANNESBURG (Reuters) – South Africa’s biggest casino operator Tsogo Sun Gaming has increased its stake in City Lodge to 10%, it said on Thursday, making it the second biggest shareholder in the leading hotel chain. Reuters had reported on Wednesday the company, through its HSS Investments and Entertainment Holdings subsidiaries, had been …

S.Africa’s biggest casino operator Tsogo Sun ups stake in hotel chain Read More »

JOHANNESBURG (Reuters) – Below are some comments from analysts and investors after the South African Reserve Bank (SARB) raised its main lending rate, also called repo rate, by 50 basis points to 8.25%. JASON TUVEY, DEPUTY CHIEF EMERGING MARKETS ECONOMIST, CAPITAL ECONOMICS “We think today’s decision marks the end of the tightening cycle. Inflation should …

Reaction to South Africa’s 50 basis points hike in lending rate Read More »

By Noah Browning LONDON (Reuters) – Investment in clean energy will extend its lead over spending on fossil fuels in 2023, the International Energy Agency said on Thursday, with solar projects expected to outpace outlays on oil production for the first time. Annual investment in renewable energy is up by nearly a quarter since 2021 …

Solar power due to overtake oil production investment for first time -IEA Read More »

ABUJA (Reuters) – Nigeria has issued debt securities worth $1.18 billion to settle various judgment debts, outgoing President Muhammadu Buhari said in a public letter requesting parliament’s approval. Buhari, who is due on Monday to hand over power to President-elect Bola Tinubu, said his cabinet approved on March 29 the settlement of judgment and general …

Outgoing Nigerian president issues $1.18 billion notes to settle judgment debts Read More »

GABORONE (Reuters) – Botswana will not back down on demands for a bigger share of rough diamonds from its joint venture with De Beers, President Mokgweetsi Masisi said on Thursday, upping the stakes as talks for a new sales deal appear to be stalling. Botswana and De Beers mine the precious stones through their equally owned, …

Botswana president insists on bigger share of diamonds from De Beers venture Read More »

By Sam Tobin LONDON (Reuters) – Angolan billionaire Isabel dos Santos, daughter of the country’s former president, can be personally added to a $400 million lawsuit brought by Angolan telecoms operator Unitel against a company she owns, London’s High Court ruled on Thursday. Unitel sued dos Santos’ Dutch company Unitel International Holdings (UIH) in 2020 …

Angola’s Isabel dos Santos added to $400 million London lawsuit over unpaid loans Read More »

By Hari Kishan BENGALURU (Reuters) – Global stock indices will end this year higher than where they started it but most are set to be confined to ranges in coming months even as central banks approach the endgame for interest rate rises, according to Reuters polls of market strategists. Despite the drubbing in 2022 and …

Stocks set for range trading as central banks near end game – Reuters poll Read More »