JOHANNESBURG (Reuters) -South Africa’s commodity-backed rand rose on Monday on higher gold prices, while traders eyed a slew of local economic data that could offer clues on the health of Africa’s largest economy. By 1429 GMT, the rand was trading at 17.2825 against the dollar, up about 0.3% from Friday’s close. Gold surged above the …
South African rand buoyed by record gold prices ahead of local data Read More »
CAIRO (Reuters) -The Central Bank of Egypt is expected to lower its overnight interest rates by 100 basis points on Thursday as inflation continues to abate, a Reuters poll showed. The median forecast of 16 economists surveyed in the poll, published on Monday, is for the CBE’s Monetary Policy Committee to cut the deposit rate …
Egypt seen cutting interest rates by 100 basis points on Thursday: Reuters poll Read More »
By Wendell Roelf CAPE TOWN (Reuters) -Equatorial Guinea will open a new oil and gas licensing round in April to boost exploration and counter dwindling oil output, its minister of hydrocarbons and mining development Antonio Oburu Ondo said on Monday. “This ronda (licensing round) will be launched in the second quarter of 2026 right after …
Equatorial Guinea to open its 2026 oil and gas licensing round in April Read More »
NAIROBI (Reuters) -Ethiopia will kick off formal negotiations with investors in its $1 billion Eurobond on how to restructure the debt, Bloomberg News reported on Monday, as the country looks to continue its path out of default following a deal with official creditors. The news agency cited unnamed sources. Ethiopia’s new central bank governor, Eyob …
Ethiopia to start formal talks with bondholders this week, Bloomberg reports Read More »
By Allison Lampert and Lisa Barrington MONTREAL (Reuters) -Nigeria’s civil aviation authority is looking into certifying China’s C919 jet for the country’s carriers, its director general told Reuters, as Nigerian airlines take on more aircraft and as relations warm with Beijing. Chinese planemaker COMAC is producing the narrow-body C919 to compete with leading Western planemakers …
Nigeria eyes certification of China’s C919 jet for local airlines Read More »
LUSAKA (Reuters) -China, Zambia and Tanzania on Monday signed a $1.4 billion deal to refurbish the Tanzania-Zambia railway, a vital route for shipping copper exports from the region, Zambia’s government said. The deal aims to rehabilitate the railway and purchase locomotives, passenger coaches and wagons. Last year China signed an initial agreement to revive the …
China signs deal with Zambia, Tanzania for $1.4 billion railway upgrade Read More »
By Elias Biryabarema KAMPALA (Reuters) -State-owned Uganda Development Bank plans to raise $500 million in debt from international capital markets to support a four-year plan to boost lending to the mining, energy and manufacturing sectors, a senior executive said on Monday. UDB’s Treasury head Thaib Lubega told Reuters by telephone that the lender intends to …
Uganda Development Bank plans to raise $500 million for four-year plan, executive says Read More »
(Corrects paragraph 3 of Sept 25 story to show Shell’s stake in Bonga will rise to 65%, not 67.5%) By Isaac Anyaogu LAGOS (Reuters) -Nigeria’s oil regulator has approved a $510 million deal by TotalEnergies to sell its entire 12.5% interest in oil mining lease (OML) 118, which hosts the offshore Bonga oilfield, to the …
Nigeria approves Shell, Agip buyout of TotalEnergies’ stake in Bonga oilfield Read More »
LAGOS (Reuters) -Nigeria’s Dangote Petroleum Refinery has resumed selling petrol in naira, following a brief suspension due to crude supply constraints, according to a notice sent to customers and seen by Reuters late on Saturday. The refinery said sales of petrol denominated in naira were restarting immediately, following intervention by the chairman of the Naira …
LAGOS (Reuters) -Nigeria’s oil workers’ union has ordered members to cut off gas supply to the Dangote Petroleum Refinery, escalating a labour dispute after hundreds of workers were dismissed and threatening to disrupt fuel supply in Africa’s most populous nation. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) directed branches at major …
Nigeria’s oil union orders halt of gas supply to Dangote refinery over mass sackings Read More »
