(Reuters) – Sudan will lower local fuel prices for January as of 7 am local time (0500 GMT) on Thursday, the state news agency said on Wednesday evening citing the energy ministry. The ministry lowered the local price for diesel to 628 Sudanese pounds ($1.11) from 660 pounds last month, and lowered the gasoline price …
JOHANNESBURG (Reuters) -South African rand firmed on Wednesday, as the dollar weakened on global markets with investors awaiting U.S. consumer price data due tomorrow. At 1535 GMT, the risk-sensitive rand traded at 16.9800 against the dollar, 0.19% stronger than its previous close. The dollar index, which measures the greenback against six major rivals, was last …
S.African rand firms as dollar retreats ahead of U.S. inflation data Read More »
JOHANNESBURG (Reuters) – South African telecoms operator Telkom and data network provider Rain have terminated discussions about a potential acquisition of Rain, Telkom said in a statement on Wednesday, sending Telkom’s shares sharply higher. In September, Telkom received a non-binding proposal from Rain, which wanted Telkom to buy it in exchange for new shares in …
South Africa’s Telkom, Rain terminate deal talks; Telkom shares jump Read More »
By Christian Akorlie ACCRA (Reuters) -Ghana’s consumer inflation rose to 54.1% year-on-year in December, up from 50.3% the previous month and its highest level in 22 years, driven by fuel, utilities and food, the statistics office said on Wednesday. The West African gold, oil and cocoa producer is battling its worst economic crisis in a …
Ghana inflation hits 54% in December, a 22-year high Read More »
ACCRA (Reuters) -Ghana’s finance ministry on Wednesday said negotiations on the terms of a domestic debt exchange agreement with local pension funds were continuing and that they would be made public once an agreement on the details is reached. Ghana’s government, in a bid to mitigate an ongoing economic crisis, has negotiated a staff-level agreement …
Ghana says debt exchange talks with local pension funds continuing Read More »
JOHANNESBURG (Reuters) – South African state power utility Eskom said on Tuesday it will implement “Stage 6” rotational power cuts every night from 1600 to 0500 local time (1400 to 0300 GMT) until further notice due to the breakdown of several of its power generating units. The “Stage 6” power cuts, the worst outage level …
South African utility Eskom ramps up power cuts to ‘Stage 6’ Read More »
CAIRO (Reuters) -Egyptian annual urban consumer inflation in December rose to 21.3%, the highest since the end of 2017, exceeding analyst expectations, data from the statistics agency CAPMAS showed on Tuesday. The rise from 18.7% in November followed a currency devaluation in October and restrictions on imports. It is likely to increase pressure on the …
Egypt’s headline inflation accelerates to 21.3% in December Read More »
JOHANNESBURG (Reuters) – The International Monetary Fund said on Tuesday that corruption had inflated the cost of numerous high-profile tenders and construction projects in Zambia. “Enormous financial resources invested in infrastructure projects, such as road construction, provided avenues for corruption, especially in the award of tenders, where political connections allowed members of the elite to bend …
IMF says corruption has inflated costs of high-profile projects in Zambia Read More »
CAIRO (Reuters) – Egypt has assigned ExxonMobil oil and gas exploration rights to two offshore blocks in the outer Nile Delta, according to a company statement on Tuesday. The company’s Egyptian subsidiary will operate both blocks and hold 100% interest, with exploration activities expected to start this year. The awards for the blocks, which cover …
ExxonMobil secures exploration rights in Egypt’s outer Nile Delta Read More »
By Huw Jones LONDON (Reuters) -Britain’s financial watchdog has fined the UK subsidiary of Nigeria’s Guaranty Trust Bank 7.6 million pounds ($9.3 million) for what it said were further failures in its anti-money laundering systems and controls. The Financial Conduct Authority (FCA) said it found “serious weaknesses” in systems aimed at preventing money laundering between …
UK watchdog fines Guaranty Trust bank over money-laundering controls Read More »
