Reuters Africa Business Archives - Page 696 of 921

South Africa’s Growthpoint posts marginal rise in distributable income

15 Mar 2023 15 Mar 2023

JOHANNESBURG (Reuters) – South Africa’s Growthpoint Properties Ltd on Wednesday its said half-year distributable income rose by 1.3%, but warned that growth is expected to be muted in 2023 due to uncertainty in the global macroeconomic environment. Growthpoint said its distributable income per share, the primary measure of underlying financial performance in the listed property …

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Zambia says it is pushing to agree debt restructuring despite delays

15 Mar 2023 15 Mar 2023

LUSAKA (Reuters) – Zambia is working very hard with its creditors including China so that hopefully a debt restructuring can be agreed by the end of March or shortly afterwards, Finance Minister Situmbeko Musokotwane said on Wednesday. Zambia was the first African country to default on its sovereign debt during the COVID-19 pandemic in 2020, …

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Global equities gain, as rising bond yields pressure gold

14 Mar 2023 14 Mar 2023

By Chris Prentice and Amanda Cooper NEW YORK/LONDON (Reuters) -Global shares stemmed a five-session rout on Tuesday as bank shares rebounded and closely-watched U.S. inflation data was in line with expectations, bolstering bets of a smaller interest rate hike by the Federal Reserve at its meeting next week. Bond yields in the U.S. and the …

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Dollar little changed as U.S. inflation data poses quandary for Fed

14 Mar 2023 14 Mar 2023

By Herbert Lash NEW YORK (Reuters) -The dollar traded little changed on Tuesday after strong consumer price data revived the likelihood that the Federal Reserve will hike interest rates next week as fears of turmoil spreading in the banking sector faded. The dollar index, a measure of the greenback against six other currencies, fell 0.087% …

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South African shares slip as U.S banking crisis continue to weigh

14 Mar 2023 14 Mar 2023

JOHANNESBURG (Reuters) -South African shares were subdued on Tuesday as the brewing U.S. banking crisis continued to weigh on global markets while the rand traded higher on appetite for emerging market currencies sparked by the fallout. The blue-chip Top 40 index closed around 0.5% lower while its broader all-share index was down around 0.7%. “These …

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Afreximbank in talks to help raise $500 million for Senegal refinery upgrade

14 Mar 2023 14 Mar 2023

By Wendell Roelf CAPE TOWN (Reuters) -The African Export-Import Bank (Afreximbank) is in advanced discussions with Senegal’s sole oil refiner to help raise $500 million in syndicated finance a further upgrade of its old refinery, a senior bank official said on Tuesday. Société Africaine de Raffinage (SAR) is West Africa’s oldest refinery and recently underwent …

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BlackRock-managed fund buys stake in Kenyan wind farm

14 Mar 2023 14 Mar 2023

By Duncan Miriri NAIROBI (Reuters) -Climate Finance Partnership, a fund managed by BlackRock Alternatives, is buying nearly a third of the shares in Kenyan wind farm Lake Turkana, it said on Tuesday. Climate-focused funds are increasingly training their sights on Africa, which offers growing demand for clean energy and other climate infrastructure. The continent is …

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BlackRock-managed fund buys stake in Kenyan wind farm

14 Mar 2023 14 Mar 2023

BlackRock-managed fund buys stake in Kenyan wind farm Read More »

South Africa’s Attacq looks to solar to reduce reliance on diesel

14 Mar 2023 14 Mar 2023

By Nqobile Dludla JOHANNESBURG (Reuters) -Attacq plans to reduce its reliance on diesel generators used to keep the lights on at its shopping malls, opting for solar and battery power to cope with the rising costs from the energy crisis in South Africa. State electricity utility Eskom is implementing the worst rolling blackouts on record, …

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Work set to resume at Simandou iron ore after Guinea, shareholders agree terms

14 Mar 2023 14 Mar 2023

(This March 13 story has been corrected to fix spelling of name in paragraph 13 and to clarify shareholding in paragraphs 10-12) CONAKRY (Reuters) – Guinean authorities and shareholders have agreed on the terms of a joint venture to mine Simandou, one of the world’s largest deposits of iron ore, paving the way for work …

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