JOHANNESBURG (Reuters) -The South African rand slipped against a stronger dollar on Thursday, as investors bet on a relatively hawkish Federal Reserve and worries about rising COVID-19 cases in China persisted. At 1604 GMT, the rand traded at 17.4350 against the dollar, 0.98% weaker than its previous close. The dollar climbed on Thursday after U.S. …
BLANTYRE (Reuters) -The International Monetary Fund’s executive board has granted Malawi a waiver after it misreported its international reserves, the IMF said on Thursday, helping clear the way for new lending. The IMF said in a statement that at the time of the first and combined second and third reviews of a three-year extended credit …
IMF grants Malawi waiver after it overstated its reserves Read More »
By Ahmed Eljechtimi RABAT (Reuters) – Wind turbine maker Siemens Gamesa plans to sell its blade factory in Tangier, northern Morocco, with production there stopping by early 2023, a senior company official said. “The decision was taken from a global perspective that accounted for changing market demands, increased competition, and the impact of a severe …
Siemens Gamesa plans to sell its Morocco turbine blade factory Read More »
JOHANNESBURG (Reuters) – South Africa’s state logistics firm Transnet is working to clear a jam of trucks carrying coal and other commodities at its Richards Bay port after last week’s derailment on a rail artery drove more product onto the road. A train carrying coal for export derailed on Nov. 8 on Transnet’s North Corridor, …
S.Africa’s Transnet battles coal truck logjam at Richards Bay Read More »
(Reuters) – Senegal has made “significant progress” in implementing structural reforms but those have come at a slower pace than anticipated, the International Monetary Fund’s staff said on Wednesday. Performance of the reform program was “broadly satisfactory” and “the economy should rebound in 2023 with a strong pickup in growth to 8.3% on the back …
Senegal reform implementation slower than expected – IMF staff Read More »
JOHANNESBURG (Reuters) -The South African rand firmed on Wednesday despite poor domestic retail sales data, taking its direction from the dollar which slid as geopolitical tensions eased. At 1624 GMT, the rand traded at 17.2225 against the dollar, 0.59% stronger than its previous close. The dollar index, which measures the currency against six major peers, …
South African rand firms despite poor retail sales data Read More »
JOHANNESBURG (Reuters) – South African retail sales fell 0.6% year on year in September after rising by a revised 2.1% in August, Statistics South Africa figures showed on Wednesday. On a month-on-month basis, sales were up 0.1%. Sales in the three months to the end of September were up 3.3% compared with the same period …
South African retail sales fall 0.6% year on year in September Read More »
NAIROBI (Reuters) -Ethiopia has reactivated the process of selling a 40% stake in state-owned Ethio Telecom and a separate plan to issue a second full telecoms licence, the finance ministry and telecoms regulator said on Wednesday. The telecoms industry is seen as the big prize in Prime Minister Abiy Ahmed’s push to free up the …
Ethiopia restarts sale of Ethio Telecom stake, new telecoms licence Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s SPAR Group Ltd reported on Wednesday a 3% fall in full-year earnings after a rise in expenses, sending its shares down 13% as investors also fretted over the low dividend payout and weak local sales. The grocery retailer’s shares hit a one-month low, putting them on track for …
South African grocer SPAR’s shares slide after profit slips Read More »
JOHANNESBURG (Reuters) -South African fashion and food retailer Woolworths expects half-year earnings to rise more than 20% year-on-year as customers return to its stores, particularly in Australia, following prolonged pandemic lockdowns. Woolworths said on Wednesday headline earnings per share, the main profit measure in South Africa, was expected to rise by more than 33.6 cents …
South Africa’s Woolworths flags higher profit as COVID disruption eases Read More »
