ABIDJAN (Reuters) – Ivory Coast and Ghana on Monday noted that some cocoa buyers were complying with higher prices set to guarantee a sustainable income for farmers, industry bodies said in a joint statement, reiterating their calls for other companies to honour their commitments to pay more. The world’s top two cocoa producers set a …
Ivory Coast and Ghana note progress in making buyers pay cocoa premiums Read More »
WASHINGTON (Reuters) – The International Monetary Fund said its executive board on Monday completed its first review of Mozambique’s three-year loan program, allowing for an immediate disbursement to Maputo of about $59.26 million. The review brings total disbursements under the $456 million Extended Credit Facility program approved in May to about $150 million to date, …
IMF to disburse $59 million to Mozambique after loan review Read More »
NAIROBI (Reuters) – The International Monetary Fund and South Sudan have reached a staff-level agreement for the release of about $112.7 million in emergency financing, the fund said on Tuesday. “This emergency financing under the new Food Shock Window will help South Sudan address food insecurity, support social spending, and boost international reserves,” the IMF …
IMF, South Sudan in pact for emergency funds of $112.7 million Read More »
NAIROBI (Reuters) – Kenya’s Equity Group Holdings’ pretax profit rose by just over a fifth in the first nine months of the year, helped by growth in non-funded and interest income, Chief Executive Officer James Mwangi said on Tuesday. Mwangi told an investor briefing that pretax profit rose 21% to 44.3 billion shillings ($363 million) …
Kenya’s Equity Group pretax profit rises on non-funded income boost Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened on Monday, as market sentiment was dented by worries about a rise in COVID cases in China and tightening restrictions in some cities of the world’s second-biggest economy. At 1546 GMT, the rand traded at 17.3275 against the dollar, 0.42% weaker than its previous close. China’s capital Beijing reported …
S. African rand slides as China COVID worries dent sentiment Read More »
TUNIS (Reuters) – Higher energy prices have “materially improved” the Algerian economy’s near-term outlook, the International Monetary Fund (IMF) said on Monday, adding that fiscal rebalancing is still needed to put public finances on a sound footing. Tighter monetary policy is required to contain inflation and continued progress on structural reforms would help to diversify …
Energy windfall improved Algeria’s economic position, says IMF Read More »
CAIRO (Reuters) – Egypt’s central bank is transferring the administration and costs of its main subsidised loan programmes to the ministry of finance, according to a circular published on its website on Monday. The transfer has long been a demand of the International Monetary Fund, which insists that the cost of any subsidy programmes, which …
DAKAR (Reuters) – The International Monetary Fund (IMF) said on Monday it would disburse $200 million to Democratic Republic of Congo for balance-of-payment support, pending executive board approval in December. The IMF said this had been agreed at staff level with Congo, which has a three-year, $1.5 billion extended credit facility programme with the lender …
IMF to disburse $200 million to Democratic Rep. of Congo under credit line Read More »
GABORONE (Reuters) – Botswana has picked India’s Jindal Steel & Power Ltd as the preferred bidder in a tender to build a 300 megawatt (MW) coal-fired power plant, a notice from its energy ministry showed on Monday. It is the only fossil fuel-based power plant the Southern African country plans to procure in the next …
India’s Jindal wins bid to build Botswana’s 300 MW coal power plant Read More »
JOHANNESBURG (Reuters) – Commodities trader Trafigura has agreed a $600 million syndicated financing facility with the Eastern and Southern African Trade and Development Bank (TDB) to develop cobalt and copper mines in the Democratic Republic of Congo. Trafigura said the funding would enable it to complete Congo miner Chemaf’s new mechanised mine at Mutoshi, processing …
Trafigura gets $600 million from Africa’s TDB for Congo cobalt mines Read More »
