Reuters Africa Business Archives - Page 68 of 921

South Africa secures China, India investments to boost local auto manufacturing

3 Oct 2025 3 Oct 2025

(This Oct.2 story has been republished to change an image, with no changes to text) By Nqobile Dludla GQEBERHA South Africa (Reuters) -South Africa has secured commitments from Chinese and Indian car companies to upgrade their semi-knocked-down (SKD) vehicle assembly operations to full-scale manufacturing, the South African trade minister said on Thursday, as industry leaders …

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Stellantis aims to broaden planned South Africa plant’s vehicle lineup

3 Oct 2025 3 Oct 2025

By Nqobile Dludla GQEBERHA South Africa (Reuters) -Stellantis intends to expand its product line-up at a planned manufacturing plant in South Africa, moving beyond pick-up trucks as shifting market dynamics prompt a strategy rethink, the company’s local manager said. The automaker announced plans in 2023 to build a greenfield factory in the coastal city of …

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China’s Chery explores plant-sharing deals in South Africa

3 Oct 2025 3 Oct 2025

By Nqobile Dludla GQEBERHA South Africa (Reuters) -China’s Chery is in discussion with several automakers in South Africa about sharing plants with them to manufacture its vehicles, the company’s regional head told Reuters. Chinese automakers seeking global growth have built more car factories in overseas markets to protect themselves as foreign regulators consider imposing measures …

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Kenya raises $1.5 billion as part of debt buy-back plan

3 Oct 2025 3 Oct 2025

By Duncan Miriri NAIROBI (Reuters) -Kenya raised $1.5 billion via new 7-year 7.875% and 12-year 8.8% bonds, the finance ministry said on Friday, as part of an effort to extend its debt maturities and cut refinancing costs. The combined 8.7% interest rate was 1% lower than it would have paid at the start of the …

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Tharisa plans to spend $547 million on underground platinum mine project

3 Oct 2025 3 Oct 2025

(Reuters) -South Africa’s Tharisa Plc announced plans on Friday to spend $547 million on an underground platinum group metals mining project over the next decade, betting on the metals being integral to the global shift to cleaner energy technologies. The company will transition its depleting open pit PGM and chrome co-producing Tharisa mine on South …

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No payrolls, no problem as stocks hit record highs

3 Oct 2025 3 Oct 2025

By Marc Jones LONDON (Reuters) -World stocks were on course for a solid weekly gain and more record highs, as the seemingly unstoppable rally in tech shares and expectations of lower U.S. interest rates helped offset U.S. government shutdown uncertainty. Investors have mostly shrugged off the shutdown, the 15th since 1981, but on Friday it …

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Zimbabwe economic growth rate to rebound to 6% this year, IMF says

3 Oct 2025 3 Oct 2025

NAIROBI (Reuters) -Zimbabwe’s economic growth is expected to rebound to a 6% rate this year, the International Monetary Fund said, citing improving agricultural production, record-high gold prices and robust remittances from its citizens who live abroad. Economic growth in the southern Africa nation, which is engaging with creditors to clear arrears and restructure its debt, …

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South African state investor PIC benefits from mining stock rally, green bets slump

3 Oct 2025 3 Oct 2025

By Colleen Goko JOHANNESBURG (Reuters) -South African state investor Public Investment Corporation (PIC) reported a 22.5% increase in its listed equities portfolio to 999 billion rand ($57.95 billion) for the year ended March 2025, according to its annual report published on Friday. PIC, Africa’s largest asset manager which oversaw 3.049 trillion rand ($176.40 billion) as …

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Kenya’s private sector activity expands in September, PMI shows

3 Oct 2025 3 Oct 2025

NAIROBI (Reuters) -Kenya’s private sector activity expanded in September, lifted by improved performance across all sectors except construction, a survey showed on Friday. The Stanbic Bank Kenya Purchasing Managers’ Index rose 51.9 in September from 49.4 a month earlier. Readings above 50.0 indicate growth in business activity, while those below that signal contraction. September’s expansion …

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South African business conditions improve for fifth consecutive month in September, PMI shows

3 Oct 2025 3 Oct 2025

JOHANNESBURG (Reuters) -Business conditions in South Africa’s private sector improved for the fifth month running in September, buoyed by a rise in output and new orders, S&P Global reported on Friday. The Purchasing Managers’ Index (PMI) edged up to 50.2 in September from 50.1 in August, indicating a mild improvement in the sector’s health. PMI …

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