JOHANNESBURG (Reuters) -South Africa’s rand weakened against the dollar on Thursday, after the U.S. Federal Reserve signalled that it will not slow down the pace of its interest rate increases. At 1605 GMT, the rand traded at 18.4075 against the dollar, 0.75% weaker than its previous close. The Fed raised interest rates by 75 basis …
By Jorgelina do Rosario and Rachel Savage LONDON/JOHANNESBURG (Reuters) -The Export-Import Bank of China (EximBank) will lead Beijing’s team to renegotiate nearly $6 billion of loans that Zambia owes to Chinese state-owned creditors, the country’s finance ministry told Reuters on Thursday. EximBank, one of Beijing’s three policy banks and Zambia’s single largest Chinese creditor, is …
Exclusive-Zambia says EximBank to represent Chinese lenders in debt talks Read More »
(Reuters) – South African private sector activity contracted for the second straight month in October due to power cuts, port strikes and high inflation, a survey showed on Thursday. S&P Global’s South Africa purchasing managers’ index (PMI) crept up to 49.5 in October from 49.2 in September, staying just below the 50.0 line that divides …
South African business activity shrinks again in October – PMI Read More »
(Adds dropped name economist in line 2) NAIROBI (Reuters) – Kenyan private sector growth slowed in October after expanding a month earlier for the first time since March, a survey showed on Thursday, as rising prices led to lower consumer spending and higher operating costs. The S&P Global Kenya Purchasing Managers’ Index (PMI) fell to …
Kenya private sector growth slows in Oct as prices rise -PMI Read More »
JOHANNESBURG (Reuters) – Gold miner AngloGold Ashanti posted a 20% jump in third-quarter production on Thursday, helping it bring costs down by 6% from the same period a year earlier. AngloGold, which mines in Argentina, Australia, Brazil, Democratic Republic of Congo, Ghana, Guinea and Tanzania, produced 738,000 ounces of gold in the September quarter, boosting …
Higher production helps AngloGold Ashanti fight inflation Read More »
KINSHASA (Reuters) – The Democratic Republic of Congo’s economy is forecast to grow 6.6% in 2022, the International Monetary Fund said on Wednesday. (Reporting by Anait Miridzhanian; Writing by Sofia Christensen; Editing by James Macharia Chege)
JOHANNESBURG (Reuters) -South Africa’s rand weakened against the dollar on Wednesday, as investors awaited a Federal Reserve policy decision amid speculation it might signal a slowdown in the pace of future rate hikes. At 1531 GMT, the risk-sensitive rand traded at 18.2200 against the dollar, 0.11% weaker than its previous close. Markets widely expect the …
South African rand weakens ahead of Fed decision Read More »
NIAMEY (Reuters) – The International Monetary Fund (IMF) and Niger have reached a staff-level agreement on a second programme review that will allow for a disbursement of about $51 million if approved in December, the IMF said on Wednesday. Niger is under a three-year programme with the IMF to help it recover from the effects …
IMF, Niger reach staff-level agreement on $51 million loan Read More »
LAGOS (Reuters) – Nigeria’s NNPC Ltd said on Tuesday Sinopec’s Addax Petroleum Development (Nigeria) Ltd had exited from its four major oil mining blocks in Nigeria and transferred them to the state-owned oil company. Addax began operations in Nigeria in 1998 by signing Production Sharing Contracts (PSCs) with NNPC. “NNPC Ltd and Addax Petroleum Development …
China’s Addax exits from four Nigerian oil blocks, NNPC says Read More »
JOHANNESBURG (Reuters) – South African pharmacy chain Dis-Chem Pharmacies reported a surge in half-year earnings on Wednesday, benefiting from acquisitions of new baby stores and demand for medicines after the easing of COVID-19 lockdowns. The group’s headline earnings per share, a key metric of profit for South African companies, rose 44.3% to 70.3 cents in …
South Africa’s Dis-Chem posts higher half-year profit Read More »
