Reuters Africa Business

NAIROBI (Reuters) – The Kenyan shilling is expected to face pressure but that may ease gradually, while the Zambian kwacha is also anticipated to weaken amid higher importer appetite for hard currency. KENYA Kenya’s shilling is expected face pressure in coming days but traders said they anticipated demand for dollars would ease as the Christmas …

Kenyan shilling to weaken, Zambian kwacha too seen hurt by importer demand Read More »

ABIDJAN (Reuters) – Ivory Coast cocoa grind rose 6% year-on-year in November to 53,000 tonnes compared with the same period last year, data from exporters’ association GEPEX showed on Thursday. Total grind since the start of the season in October stood at 107,000 tonnes of beans up from 100,000 tonnes over the same period last …

Ivory Coast cocoa grind up 6% in November, say exporters Read More »

JOHANNESBURG (Reuters) – South Africa’s MTN Group on Wednesday named a new chief executive officer for its South African operations as part of a management overhaul as it sharpens its focus on the continent. MTN is seeking to be the dominant presence in Africa across wireless and fixed line infrastructure and to offer a digital …

S.Africa’s MTN appoints Charles Molapisi as country CEO Read More »

DAKAR (Reuters) – The African Development Bank said its board of directors has approved a borrowing program for 2022 of up to $10 billion to be raised from the capital markets. The borrowing program for 2021 allowed for borrowing of up to $10.4 billion. (Reporting by Bate Felix; Writing by Aaron Ross; editing by Diane …

African Development Bank approves 2022 borrowing program of up to $10 billion Read More »

(Reuters) – Fitch on Wednesday upgraded the outlook on South Africa’s long-term foreign-currency issuer default rating to “stable” from “negative”, citing a faster-than-expected economic recovery. “A recovery is underway and GDP now seems on track to return to pre-pandemic levels during 2022” Fitch said. The rating agency affirmed the country’s sovereign debt rating at ‘BB-‘, …

Fitch revises South Africa’s outlook to ‘stable’ on economic recovery Read More »