Reuters Africa Business

South African rand stronger on early Omicron signs, stocks slide

8 Dec 2021

JOHANNESBURG (Reuters) -The South African rand extended this week’s gains on Wednesday, as signs that the Omicron coronavirus variant identified locally and in Hong Kong is causing mainly mild infections supported risk appetite. At 1445 GMT, the rand traded at 15.7950 against the dollar, 0.35% stronger than its previous close. Financial markets have been highly …

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South African business confidence falls in November

8 Dec 2021

JOHANNESBURG (Reuters) – South African business confidence fell in November compared to the previous month as both exports and imports dipped, data showed on Wednesday. The South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) declined to 92.8 in November from 94.9 in October. “The foreign trade account was the main …

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Kenya’s Treasury slams brakes on 150 billion shillings roads bond -report

8 Dec 2021

NAIROBI (Reuters) – Kenya’s finance ministry has stopped the planned issuance of a 150 billion shilling ($1.33 billion) bond by the country’s roads board to settle pending bills for contractors and to complete projects, the Business Daily newspaper reported on Wednesday. The issue was stopped to prevent the country’s fiscal position from slipping outside of …

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Tongaat shareholder Artemis backs investors in bid to stall rights offer

7 Dec 2021

By Promit Mukherjee JOHANNESBURG (Reuters) – Artemis Investments, a major shareholder in Tongaat Hulett, has offered its backing to a group of minority investors upset with the timing and size of a rights offer which South Africa’s top sugar producer announced last month, investors told Reuters. Once a billion-dollar company and still the largest private …

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Tongaat shareholder Artemis backs investors in bid to stall rights offer

7 Dec 2021

By Promit Mukherjee JOHANNESBURG (Reuters) – Artemis Investments, a major shareholder in Tongaat Hulett, has offered its backing to a group of minority investors upset with the timing and size of a rights offer which South Africa’s top sugar producer announced last month, investors told Reuters. Once a billion-dollar company and still the largest private …

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Zambia may seek longer to repay debts, finance minister says

7 Dec 2021

LUSAKA (Reuters) – Zambia may seek talks with creditors to extend its debt repayments after reaching a preliminary deal with the International Monetary Fund (IMF) for a $1.4 billion facility, Finance Minister Situmbeko Musokotwane said on Tuesday. Zambia, one of the world’s largest copper producers, became Africa’s first COVID-era sovereign defaulter in November 2020 after …

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Zambia may seek longer to repay debts, finance minister says

7 Dec 2021

LUSAKA (Reuters) -Zambia may seek talks with creditors to extend its debt repayments after reaching a preliminary deal with the International Monetary Fund (IMF) for a $1.4 billion facility, Finance Minister Situmbeko Musokotwane said on Tuesday. Zambia, one of the world’s largest copper producers, became Africa’s first COVID-era sovereign defaulter in November 2020 after years …

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