By Shariq Khan BENGALURU (Reuters) -Oil prices rose a dollar a barrel on Monday after three straight sessions of declines, boosted by the prospect of tightening supplies in Canada and elsewhere, although recession fears kept pressuring the market. Brent crude futures rose $1.06, or 1.4% to settle at $75.23 a barrel. U.S. West Texas Intermediate …
Oil gains over 1%, ends losing streak on tightening supplies Read More »
By Christian Akorlie and Maxwell Akalaare Adombila ACCRA (Reuters) -Ghana expects the International Monetary Fund to approve a first loan tranche of $600 million as soon as Wednesday, paving the way for disbursement within a week, Minister of State in the Finance Ministry Mohammed Amin Adam told Reuters on Sunday. Ghana is seeking $3 billion …
Ghana expects first $600 million tranche from IMF after Wednesday meeting – minister Read More »
By Nyasha Chingono HARARE (Reuters) – The African Development Bank (AFDB) has developed financial instruments to “fast track and front load” $3.5 billion in compensation to white farmers whose land was taken from them by Zimbabwe’s government, the bank’s president said on Monday. Akinwumi Adesina’s announcement, which did not include details of the proposed instruments, …
African Devt Bank proposes ‘fast track’ compensation for Zimbabwe white ex-farmers Read More »
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s annual inflation rose to 22.22% in April from 22.04% the previous month, as the price of food continued to rise, the National Bureau of Statistics said on Monday. Inflation has remained elevated in Africa’s biggest economy, eroding savings and incomes, and prompting the central bank to hike interest …
Nigeria inflation quickens in April as food prices surge Read More »
JOHANNESBURG (Reuters) -South Africa’s biggest mobile carrier Vodacom Group expects the country’s power crisis to continue to pose a key challenge for the company in the current year, even as it invests to mitigate the impact. Telecom players in the country have been spending heavily to install diesel generators to keep their networks on as …
S.Africa’s Vodacom says power crisis will remain key challenge Read More »
NAIROBI (Reuters) – African financing platform M-Kopa has signed a total of $255 million in new debt and equity from Standard Bank and Sumitomo Corporation among others to fund its expansion in Sub-Saharan Africa, M-Kopa said on Monday. Founded in 2011, M-Kopa started its operations in Kenya and has expanded to Uganda, Nigeria and Ghana …
African digital credit company M-Kopa signs $255 million in new funding Read More »
By Laura Sanicola NEW YORK (Reuters) – Oil prices settled more than 1% lower on Friday, falling for the fourth consecutive week, as the market balanced supply fears against renewed economic concerns in the United States and China. Brent crude futures settled down 81 cents, or 1.1%, to $74.17 while West Texas Intermediate (WTI) U.S. …
Oil prices fall on stronger dollar, demand fears Read More »
(Reuters) – Global ratings agency Moody’s on Friday cut Kenya’s senior unsecured debt rating as well as long-term foreign-currency and local-currency issuer ratings to B3 from B2. “The rating downgrade is driven by an increase in government liquidity risks,” the agency said. The agency added that Kenya’s domestic funding conditions have deteriorated considerably over the …
Moody’s cuts Kenya’s debt and currency ratings to B3 from B2 Read More »
By Tannur Anders and Rachel Savage JOHANNESBURG (Reuters) -The South African rand set a record closing low against the dollar on Friday but ended far from session lows after officials said the country had not approved any arms shipment to Russia late last year. The currency was pummelled this week by investor concerns over the …
S.African rand sets record low, volatility seen ahead Read More »
By Herbert Lash NEW YORK (Reuters) -The dollar rose on Friday but a gauge of global stocks retreated on a report that showed U.S. consumer sentiment slumped to a six-month low in May, reinforcing bearish investor sentiment over talks to raise the U.S. government’s debt ceiling. The dollar strengthened against the euro, yen and other …
Stocks slip as US consumer confidence slumps, dollar gains Read More »
