JOHANNESBURG (Reuters) -The South African rand weakened on Thursday, as a Reuters poll predicted the central bank would deliver another interest rate hike next week. At 1532 GMT, the rand traded at 17.3400 against the U.S. dollar, 1.14% weaker than its previous close. Eleven of the 20 economists polled by Reuters predicted the South African …
South African rand weakens; central bank seen raising rates next week Read More »
By Andrea Shalal DAKAR (Reuters) -U.S. Treasury Secretary Janet Yellen will kick off a year of visits by top U.S. officials to Africa on Friday aiming to firm up U.S.-Africa ties after decades in which China has dominated investment across the continent. In a speech to be delivered at a business event in Senegal’s capital …
Deeper ties on Yellen’s mind as U.S begins year of African engagement Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s Reserve Bank is expected to raise interest rates for the last time in this cycle in anticipation of slower inflation, adding 50 basis points on Jan. 26, a Reuters poll found on Thursday. However, economists were split on the size of the increase at next Thursday’s decision …
S.Africa to call it a wrap on current hikes, last 50 bps on Jan. 26 Read More »
By Duncan Miriri NAIROBI (Reuters) -Kenya plans to link its tax collection system to mobile financial platforms to weed out tax evaders and boost revenue by billions of shillings, part of a raft of measures to repair its coffers, the finance ministry said in a draft budget statement. President William Ruto’s administration, which took over …
Kenya looks to fix finances by nailing tax cheats, cutting borrowing Read More »
RABAT (Reuters) – Morocco’s central bank said on Thursday it planned to limit its first ever liquidity-boosting purchase operations of treasury bonds to 25 billion dirhams, citing the dampening impact of market uncertainty over rate outlook on demand. The central bank has so far injected 16.2 billion dirhams ($1.6 bln) through treasury bond purchases on …
Morocco’s central bank caps its first treasury bond purchases Read More »
PARIS (Reuters) – All member countries of the G20 group economic powers are on board to discuss restructuring Ghana’s debt and Paris Club members are prepared to form a creditor committee soon, an official from the Paris Club said on Thursday. Ghana requested a restructuring of debt it owes to other governments earlier this month, …
G20 creditors ready to discuss Ghana debt, Paris Club official says Read More »
KAMPALA (Reuters) – Uganda has approved an application by a company controlled by France’s TotalEnergies to construct a $3.5 billion oil pipeline that will transport the country’s crude to international markets. The approval is a key step to developing the East African country’s oilfields where commercial petroleum production has been delayed for nearly two decades …
Uganda approves construction licence for $3.5 billion crude pipeline Read More »
JOHANNESBURG (Reuters) – Ethiopia’s deputy finance minister said on Thursday that rumours the birr currency would be devalued were “completely unfounded”, as the east African country seeks an International Monetary Fund (IMF) after an African Union-backed ceasefire. “There is widespread rumour that devaluation is in the making. This is just a rumour. Completely unfounded,” state …
Ethiopia deputy Finance Minister: rumour of FX devaluation “completely unfounded” Read More »
JOHANNESBURG (Reuters) – South Africa’s SPAR Group said on Thursday it agreed with its auditors that a reportable irregularity concerning an alleged fictitious and fraudulent loan had occurred at the grocery retailer. Local online newspapers Business Day, News24 and news magazine Financial Mail have been reporting various allegations of fraudulent and fictitious loans and racial …
South Africa’s SPAR admits to irregular loan allegations Read More »
(Corrects timing of IMF MD Georgieva’s visit to Zambia in paragraph 14 from “in two weeks” to “next week”) By Marc Jones and Rachel Savage LONDON (Reuters) – Zambia received a “debt-for-nature swap” proposal as part of its $13 billion restructuring discussions, a move that while complex to secure and not part of current talks, …
Zambia received ‘debt-for-nature’ proposal from WWF for restructuring Read More »
