LAGOS (Reuters) – Royal Dutch Shell’s Nigerian subsidiary SPDC has declared force majeure on exports of Nigerian Forcados crude oil after the obstruction of a tanker path by a malfunctioning barge, the company said in a statement. The action came into effect on Monday at 12:00 midday and Shell Petroleum Development Company of Nigeria Limited …
Shell declares force majeure on Nigerian Forcados crude Read More »
HARARE (Reuters) -China’s Zhejiang Huayou Cobalt said on Wednesday it would pay a total $422 million to acquire the Arcadia hard-rock lithium mine in Zimbabwe. The move marks Huayou’s second foray into lithium, a key ingredient in rechargeable batteries, in the space of a week. It is the latest acquisition of overseas battery mineral resources …
China’s Huayou buys lithium mine in Zimbabwe for $422 million Read More »
JOHANNESBURG (Reuters) -South Africa’s rand firmed against the dollar on Wednesday, as risk appetite continued to improve on expectations the impact of the Omicron variant on the global economy will be limited based on early data. At 1531 GMT, the rand traded at 15.8500 against the dollar, 0.06% stronger than its previous close. The holiday …
South Africa’s rand recovers on improved risk appetite Read More »
By Emma Rumney and Estelle Shirbon JOHANNESBURG (Reuters) -COVID-19 cases appear to have peaked in South Africa’s Gauteng province about a month after the Omicron variant was first detected there and the impact of surging infections has been less severe than previous waves, scientists said on Wednesday. Scientists from the National Institute of Communicable Diseases …
Epicentre of Omicron outbreak in S.Africa passes peak – scientists Read More »
By Ange Aboa ABIDJAN (Reuters) – Cocoa arrivals at ports in top grower Ivory Coast are down between 12% and 13% from the same period last year and are likely to stay down for the rest of the season, the director general of the Coffee and Cocoa Council (CCC) said on Wednesday. Yves Brahima Kone, …
Ivory Coast 2021/22 cocoa port arrivals down 12-13%, CCC director says Read More »
BLANTYRE (Reuters) – Malawi’s GDP is projected to grow by 5% in 2022, President Lazarus Chakwera said on Tuesday, compared with a projected figure for the current year of 2.2%. In a televised address, Chakwera said the growth rebound hinged on an economic recovery plan with multiple strands including accelerating COVID-19 vaccinations to 7,000 a …
Malawi GDP projected to grow by 5% in 2022 -president Read More »
JOHANNESBURG (Reuters) -African insurer Sanlam Ltd said on Wednesday it was exploring “strategic alternatives” with Germany’s Allianz SE for their respective African businesses, excluding Sanlam’s home market of South Africa. Sanlam, South Africa’s No.1 insurer, did not elaborate on what the options were, but advised shareholders to exercise caution when dealing its shares. “If these …
Insurers Sanlam and Allianz exploring options for Africa operations Read More »
By Patrick Werr CAIRO (Reuters) – Some foreign investors are becoming cautious about buying domestic Egyptian treasuries due to jitters over emerging markets and the sustainability of high Egyptian yields. Egypt’s central bank says its unconventional strategy to deal with the coronavirus pandemic has been successful: raising interest rates on domestic deposits, lowering domestic lending …
Some investors turn cautious on Egypt’s lucrative carry trade Read More »
By Camillus Eboh ABUJA (Reuters) – Nigeria’s lower house of parliament on Tuesday approved a higher spending plan for 2022 of a record 17.13 trillion naira ($41.8 billion) after lawmakers raised the deficit and the oil price assumption in attempt to boost the economy. The Senate is expected to pass the increased budget on Wednesday. …
Nigeria’s parliament passes $41.8 billion spending plan for 2022 Read More »
JOHANNESBURG (Reuters) -South Africa’s stocks rebounded on Tuesday, as market appetite for risk assets improved after a selloff in global markets, though a surge in COVID-19 cases kept investors worried about the near-term economic outlook. Risk appetite took a blow on Monday as a rapid increase in cases of the Omicron coronavirus variant forced countries …
South Africa’s stocks firm as risk appetite improves, rand weakens Read More »
