By Bhargav Acharya and Kopano Gumbi JOHANNESBURG (Reuters) – South Africa’s energy regulator on Thursday approved an 18.65% power price rise for beleaguered state utility Eskom for the financial year starting on April 1, less than the company requested. Eskom had sought an increase of more than 32%, citing higher fuel costs, depreciation of its …
South African regulator approves 18.65% power price hike for Eskom Read More »
By Andrea Shalal WASHINGTON (Reuters) – A new global sovereign debt “roundtable” that will include China, other creditors and some borrowing countries will meet for the first time next month on the sidelines of a Group of 20 finance officials meeting in India, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva, the first person …
IMF chief heading to Zambia, says new debt ’roundtable’ to meet in February Read More »
NAIROBI (Reuters) – Kenya’s Centum Investment Co. Plc said it had ended a pact with Nigeria’s Access Bank to sell its 83.4% shareholding in Kenya’s Sidian Bank, as the timeframe for completion of the transaction had lapsed. In June, Centum announced plans to sell the stake to Access Bank, a subsidiary of Access Holdings, subject …
Kenya’s Centum calls off sale of Sidian Bank majority stake to Nigeria’s Access Bank Read More »
JOHANNESBURG (Reuters) -South Africa’s rand strengthened on Thursday, after U.S. data offered hope inflation was now on a sustained downward trend, potentially allowing the Federal Reserve to slow its policy tightening pace and ease the pressure on global central banks. At 1601 GMT, the rand traded at 16.8350 against the dollar, 0.63% stronger than its …
South African rand gains after U.S. inflation data Read More »
By Kopano Gumbi and Rachel Savage JOHANNESBURG (Reuters) -South Africa’s government will take on a portion of struggling state utility Eskom’s debt in a staggered manner to avoid a spike in the country’s debt-to-GDP ratio, Finance Minister Enoch Godongwana said on Thursday. Eskom has been mired in financial crisis for years and is dependent on …
South Africa to take on Eskom debt in staggered way Read More »
KAMPALA (Reuters) – Uganda’s cabinet has agreed for the energy ministry to sign production-sharing agreements (PSA) for two oil exploration blocks with two oil firms, including a unit of Australia’s DGR Global, the government said on Thursday. A cabinet meeting on Monday had approved the signing of an agreement with DGR Energy Turaco Uganda Limited, …
Uganda agrees oil exploration deals with two firms including Australia’s DGR Global Read More »
JOHANNESBURG (Reuters) -South Africa’s state-owned logistics company Transnet on Thursday said it reached an “impasse” in talks with Chinese rail equipment manufacturer CRRC E-Loco, despite last year’s settlement over procurement contracts. The two have engaged in legal battles after Transnet halted the supply of 1,064 locomotives from four original equipment suppliers, including CRRC, saying that …
Transnet to tender for locomotive repairs after ‘impasse’ with Chinese supplier Read More »
ADDIS ABABA (Reuters) – Ethiopia’s state-owned telecoms company Ethio Telecom said on Thursday that its half-year revenues rose 20% to 33.8 billion birr ($632.99 million). Subscribers to Ethio Telecom’s mobile phone-based financial service, known as Telebirr, launched in May 2021, have grown to 27.2 million out of its 70 million total subscribers, CEO Frehiwot Tamiru …
Ethio Telecom revenues up 20%; financial subscribers grow Read More »
ACCRA (Reuters) – Ghana is paying holders of its 2023 bond a 2% cash fee in exchange for participation in an exchange for longer-term domestic debt, the finance ministry said in a document released on Wednesday. The crisis-hit country launched an amended offer for the exchange on Dec. 24 and extended the deadline for bondholders …
Ghana offers 2% cash to investors in domestic debt exchange Read More »
JUBA (Reuters) – South Sudan’s central bank monetary committee said on Wednesday it was maintaining its interest rate at 12%, as the country faced threats from a global economic slowdown and flooding, drought, communal violence and surging food prices. (Reporting by Waakhe Wudu; Writing by Hereward Holland; Editing by Chris Reese)
