JOHANNESBURG (Reuters) -The South African rand fell against the dollar on Friday, after the release of a whole-economy survey that showed business activity shrinking in Africa’s most industrialised economy. By 1548 GMT, the rand was trading at 17.4000 against the dollar, down 1.77% from its previous close of 17.0975. S&P Global’s South Africa Purchasing Managers …
South African rand falls after PMI shows business decline Read More »
LONDON (Reuters) – Nigeria’s dollar-denominated government bonds fell on Friday ahead of a review of its credit rating by S&P Global, after the West African oil producer was downgraded by another ratings agency, Moody’s, a week earlier. Nigeria’s bonds dropped as much as 2.659 cents in the dollar, with the 2038 maturity falling the most, …
Nigeria bonds fall ahead of S&P credit rating review Read More »
NAIROBI (Reuters) – Kenya’s private sector activity rose for a third consecutive month in January, helped by improved business in agriculture, manufacturing, services and wholesale and retail sectors, a survey showed on Friday. The S&P Global Kenya Purchasing Managers’ Index (PMI) went up to 52.0 in January from 51.6 a month earlier. Readings above 50.0 …
Kenya private sector activity jumps in January – PMI Read More »
By Ange Aboa ABIDJAN (Reuters) – Ivory Coast’s cocoa regulator on Thursday started distributing electronic cards to cocoa farmers to help track beans from plantations to their export ports and ensure the growers are paid a guaranteed price for their produce. The countrywide exercise is part of a response to plans by the European Union …
Ivory Coast gives cocoa farmers electronic cards to track beans, ensure fair price Read More »
(Reuters) – Impala Platinum’s output of refined platinum group metal (PGM) fell 9% year on year in the second half of 2022 as power cuts and a furnace rebuild hit smelter operations, the South African mining company said on Friday. In a production update, Impala said it had lost an estimated 38,000 refined PGM ounces, …
Impala Platinum half-year refined output hit by worsening power cuts Read More »
CAIRO (Reuters) – Egypt’s central bank kept its overnight interest rates unchanged on Thursday, saying in a statement that steep rate increases put in place over the last year should help to tame inflation, now running at 21.3%. The hold had been unexpected by many analysts. A poll of 13 analysts forecast the bank would …
Egypt’s central bank leaves key interest rates unchanged Read More »
JOHANNESBURG (Reuters) – Activity in South Africa’s private sector in January contracted a its fastest pace since the end of 2021 as new orders fell due to rolling power cuts and weak economic conditions, a survey showed on Friday. S&P Global’s South Africa purchasing managers’ index (PMI) contracted to 48.7 in January from 50.2 in …
South African business activity shrinks solidly in January Read More »
HARARE (Reuters) – Zimbabwe’s central bank on Thursday said it will allow exporters, including miners, to keep 75% of their export earnings in foreign currency after the current cap of 60% drew complaints from the industry. The new measure, however, falls short of miners’ demands to keep 80% of their export earnings in foreign currency. …
Zimbabwe allows miners, exporters to keep more forex from exports Read More »
BLANTYRE (Reuters) – Malawi’s central bank has kept its benchmark lending rate at 18%, it said on Thursday. “The economic outlook has materially improved, after a sharper-than expected slowdown last year, due to the expected recovery in the agricultural sector and an improvement in (the) policy environment,” the Reserve Bank of Malawi said in a …
By Ange Aboa SAN PEDRO, Ivory Coast (Reuters) – Cocoa arrivals at world top producer Ivory Coast’s main ports of Abidjan and San Pedro have slumped since the beginning of the year as erratic and insufficient rainfall hit crop output, exporters and farmers said on Thursday. Weekly port arrivals fell to about 70,000 tons from …
Ivory Coast cocoa arrivals slump due to irregular rains Read More »
