Reuters Africa Business

By Ben Ezeamalu LAGOS (Reuters) -Nigeria’s Dangote refinery has suspended domestic sales of petrol in the local naira currency, citing unsustainable volumes that exceeded its crude allocations, according to a company memo to customers seen by Reuters. The suspension, effective September 28, could complicate efforts to ease dollar demand in Africa’s largest economy, where fuel …

Nigeria’s Dangote refinery halts naira petrol sales over crude supply constraints Read More »

NEW YORK (Reuters) -Botswana President Duma Boko said on Friday his country will establish a citizenship-by-investment program, as the southern African country looks to diversify its economy away from its largest export, diamonds. Botswana’s budget has been constrained this year due to a prolonged downturn in the global diamond market. It is the world’s leading …

Botswana launches citizenship program to boost economy beyond diamonds Read More »

(Reuters) -Global equity funds recorded net inflows for the first time in three weeks in the week to September 24, as optimism around artificial intelligence investments and renewed bets on potential U.S. rate cuts lifted investor sentiment. Investors poured a net $28.36 billion into equity funds during the period, largely reversing the prior week’s $35.02 …

Global equity funds log weekly inflows as AI optimism, Fed cut bets boost sentiment Read More »

By Gopika Gopakumar MUMBAI (Reuters) -The BRICS countries-backed New Development Bank (NDB) plans to issue its first Indian rupee-denominated bond in the domestic market before end-March 2026, three sources familiar with the matter said. NDB, which has previously raised funds in Chinese yuan and South African rand, is in advanced stages of discussions with the …

Exclusive-BRICS-backed bank plans first Indian rupee-denominated bond by end-March, sources say Read More »

(Reuters) -Botswana’s economic output fell sharply in the second quarter, reflecting a steep decline in output from its key diamond industry, data from the statistics agency showed on Friday. Gross domestic product decreased 5.3% in year-on-year terms, the steepest quarterly contraction since the COVID-19 pandemic. “Diamond production in carats declined 43.1% in the second quarter …

Botswana economy suffers steep contraction in Q2 on diamond sector woes Read More »

JOHANNESBURG (Reuters) -The South African rand slipped in early trade on Friday, adding to losses late the previous day, when the dollar surged on better-than-forecast U.S. economic data. At 0740 GMT the rand traded at 17.46 against the dollar, down about 0.2% on Thursday’s close of 17.43. The dollar index, which measures the greenback against …

South African rand edges down after better-than-expected U.S. data Read More »