By Nelson Banya (Reuters) -Shares in Anglo American Platinum (Amplats) fell to their lowest level in more than two years on Monday after the platinum group metals (PGM) miner reported a 38% fall in annual profit and said power cuts could dent output this year. Amplats’ shares were down 3.1% by 1130 GMT, having hit …
Amplats shares fall after power outages dim outlook Read More »
ABIDJAN (Reuters) – Cocoa arrivals at ports in top grower Ivory Coast had reached 1.650 mln tonnes between the start of the season on Oct. 1 and Feb. 19, down 0.5% from the same period last season, exporters estimated on Monday. About 10,000 tonnes of beans were delivered to Abidjan port and 12,000 tonnes to San …
Ivory Coast 2022/23 cocoa arrivals at 1.650 million T by Feb. 19 – exporters Read More »
(Reuters) – South Africa’s state power utility Eskom on Sunday said it would implement “Stage 6” power cuts continuously until further notice due to breakdowns of eight generation units on Sunday afternoon. Further changes on the stages of loadshedding at short notice are possible given the high number of breakdowns, Eskom said in a statement. …
South Africa’s Eskom ramps up power cuts to ‘Stage 6’ Read More »
By John Irish MUNICH (Reuters) – Failure to renew a U.N.-backed initiative that has enabled Ukraine to export grain from ports blockaded by Russia would be catastrophic as millions in Africa are on the cusp of famine, the head of the U.N. food agency warned on Saturday. Negotiations will start in a week on extending …
Renewing Black Sea grain deal critical for Africa, WFP boss says Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) -African countries are getting a raw deal from the international financial system which charges them “extortionate” interest rates, the U.N. chief said on Saturday, as he announced $250 million in crisis funding, including for famine risk on the continent. The United Nations Secretary-General Antonio Guterres wants far-reaching reforms to …
Debt-laden African countries charged ‘extortionate’ rates, UN chief says Read More »
CAIRO (Reuters) – Egypt’s General Authority for Supply Commodities (GASC) on Saturday announced a tender for the purchase of wheat funded by the World Bank. The tender seeks cargoes of 30,000, 40,000 or 50,000, 55,000, or 60,000 tons plus or minus 5% from the last crop for supply C&F, GASC said. Shipment is sought for …
Egypt’s GASC seeks wheat in World Bank-funded tender Read More »
JOHANNESBURG (Reuters) -South Africa’s rand on Friday recouped some losses from the previous session, when President Cyril Ramaphosa defended his decision to appoint a minister of electricity to try to end crippling power cuts. At 1524 GMT on Friday, the rand traded at 18.0525 against the dollar, 0.7% stronger than its previous close. Ramaphosa’s responses …
South African rand firms against dollar; eyes on 2023 budget Read More »
By Duncan Miriri NAIROBI (Reuters) – Kenya may opt to issue a Eurobond with a different tenor to manage next year’s maturity of a $2 billion, 10-year bond, the director of its debt management office told Reuters on Friday. Markets are keenly watching how the East African nation will manage the large maturity after the …
Kenya may issue different tenor Eurobond to manage upcoming maturity Read More »
JOHANNESBURG (Reuters) – South African insurer Discovery Ltd on Friday warned its interim profit is likely to drop by up to 12% on account of higher interest rates and macroeconomic volatility. For the half year ended Dec. 31, its headline earnings per share (HEPS) profit measure, which strips out exceptional items, is likely to be …
S.African insurer Discovery warns of up to 12% drop in interim profit Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – Mining tax receipts will keep topping up South Africa’s public purse, but crimped growth from erratic power generation and financial support to struggling state-owned enterprises will mean more wide budget deficits to come, a Reuters poll found. The consolidated budget deficit is likely to narrow to 4.5% of gross …
S.Africa’s budget deficit to fall slower than government hopes Read More »
