NAIROBI (Reuters) – Kenya’s foreign exchange market will be stable this year, mainly due to an improvement in the current account deficit, the governor of the central bank said on Tuesday. The deficit narrowed to 4.9% of gross domestic product at the end of last year, Patrick Njoroge told a news conference, better than the …
Kenya’s central banker sees stable FX market on benign external deficit Read More »
By Clara Denina and Helen Reid JOHANNESBURG (Reuters) – High costs and the prospect of shrinking earnings have made big miners nervous about expansion, even as shareholders demand investment in response to robust commodity prices, China’s reopening and the role of minerals in decarbonising the economy. Although years of cost discipline have repaired balance sheets …
DAKAR (Reuters) – The executive board of the International Monetary Fund has approved a $38.4 million extended credit facility for Guinea-Bissau to support the West African nation’s economic recovery and policies to improve governance, the fund said on Monday. (Reporting by Bate Felix; editing by Jonathan Oatis)
JOHANNESBURG (Reuters) – Vodacom Group said on Tuesday its third-quarter revenue rose 14.8%, supported by the South African telecoms operator’s acquisition of Vodafone Egypt. Vodacom, majority-owned by Britain’s Vodafone, said group revenue rose to 30.7 billion rand ($1.76 billion) in the quarter ended Dec.31. On a normalised basis, revenue grew 4.7%. Vodafone Egypt was consolidated …
Vodafone Egypt deal bumps up S.Africa’s Vodacom quarterly revenue Read More »
DAKAR (Reuters) – The International Monetary Fund and Cameroon have reached a staff-level agreement that will give the country access to around $74.6 million once the Board formally completes the review, the IMF said in a statement on Monday. The announcement followed an IMF mission to Cameroon earlier this month and virtual meetings to discuss …
IMF and Cameroon reach $74.6 million staff-level agreement – statement Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened on Monday ahead of a slew of domestic economic data due this week. At 1602 GMT, the rand traded at 17.3375 against the dollar, 0.77% weaker than its previous close. The rand’s weakness reflects domestic growth concerns due to an ongoing electricity crisis, Investec analyst Annabel Bishop said in …
South African rand weakens against dollar, stocks down Read More »
NAIROBI (Reuters) -Kenya’s central bank held its benchmark lending rate steady at 8.75% on Monday, its monetary policy committee said, saying its last hike in November was still working its way through the economy. Six out of nine market participants polled by Reuters had predicted the bank would hold the rate steady, while three expected …
Kenya central bank holds its benchmark lending rate at 8.75% Read More »
JOHANNESBURG (Reuters) – South Africa recorded a budget surplus of 44.97 billion rand ($2.60 billion) in December, compared to a surplus of 41.89 billion rand in the same month a year earlier, National Treasury data showed on Monday. ($1 = 17.3225 rand) (Reporting by Anait Miridzhanian; Editing by Alexander Winning)
ACCRA (Reuters) – Ghana’s central bank does not plan to be part of a financial stability fund that will provide liquidity to banks participating in the domestic debt exchange, its governor said on Monday, saying the fund will be financed primarily by external partners. (Reporting by Cooper Inveen; Writing by Nellie Peyton; Editing by Alexander …
Ghana central bank doesn’t plan to be part of stability fund for debt exchange Read More »
(Corrects debt to GDP ratio to debt service-to-revenue ratio in final paragraph) By Rachel Savage and Marc Jones JOHANNESBURG (Reuters) -Nigeria’s government bonds fell heavily on Monday after ratings agency Moody’s downgraded the West African oil producer late on Friday to Caa1 from B3, saying the government’s fiscal and debt position was expected to keep …
Nigeria’s bonds tumble after Moody’s rating downgrade Read More »
