JOHANNESBURG (Reuters) – South Africa’s government said on Friday that the petrol pump price would increase by 51 cents a litre and the diesel price would rise by up to 144 cents a litre from Nov. 2. South Africa’s fuel prices are adjusted monthly due to factors including global oil prices and the rand exchange …
South Africa’s petrol, diesel pump prices to rise in November Read More »
JOHANNESBURG (Reuters) – South African telecoms operator Telkom has launched its 5G high-speed internet network using technology from China’s Huawei Technologies, the companies said on Thursday. Telkom, part-owned by the state, joins bigger rivals Vodacom and MTN and smaller peer rain in the 5G race, as it wants to boost its fast-growing mobile data and …
South Africa’s Telkom launches 5G network with Huawei Read More »
BLANTYRE (Reuters) – Malawi’s central bank said on Thursday that it had raised its main lending rate by 400 basis points to 18% in a bid to tackle high inflation. The southern African nation has been struggling with acute forex shortages and has reached a staff-level agreement with the International Monetary Fund for emergency financing. …
Malawi central bank raises main lending rate by 400 bps to 18% Read More »
JOHANNESBURG (Reuters) – A top investor has come out against Gold Fields’ proposed $6.7 billion takeover of Canada’s Yamana Gold. Joe Foster, who manages active gold funds at investment firm VanEck, which is Yamana’s biggest shareholder, said the merger would create a more complex company with not much synergy, and both Yamana and Gold Fields …
Top investor opposes Gold Fields’ takeover of Yamana Read More »
JOHANNESBURG (Reuters) -South Africa’s rand steadied on Thursday as the markets digested South Africa’s mid-term budget update on the government’s finances. At 1641 GMT, the rand traded at 17.9475 against the dollar, not far from its previous close of 17.9350. The local currency had advanced on Wednesday after South Africa’s mid-term budget showed an improvement …
S.African rand little changed as investors digest mid-term budget Read More »
By Ayenat Mersie (Reuters) – Kenya’s largest telecoms operator Safaricom launched its 5G high-speed internet service on Thursday, becoming the first firm to deploy the technology commercially in East Africa. The company, whose internet provision business is one of its fastest growing, uses equipment from Nokia (NOKIA.HE) and Huawei to power its 5G network. Safaricom, …
Kenya’s Safaricom targets more fixed Internet users with 5G network Read More »
By Nadine Awadalla, Aidan Lewis and Mahmoud Mourad CAIRO (Reuters) -Egypt’s pound slid about 14.5% to a record low against the dollar on Thursday as authorities announced a $3 billion International Monetary Fund deal with a commitment to a “durably flexible exchange rate regime”. The central bank also raised interest rates by 200 basis points …
Egypt’s pound slides as IMF deal triggers new exchange rate regime Read More »
(Reuters) -The International Monetary Fund said on Thursday it had agreed a $3 billion Extended Fund Facility (EFF) over 46 months with Egypt, welcoming a move to “durable exchange rate flexibility” regime and commitments to boosting social protections. Egypt’s currency fell by about 13.5% to a record low against the dollar on Thursday, Refinitiv data …
IMF confirms $3 billion loan for Egypt, welcomes exchange rate flexibility Read More »
ALGIERS (Reuters) – Algerian energy firm Sonatrach on Thursday awarded Italy’s Tecnimont a $400 million EPC (engineering, procurement and construction) contract to built an LPG plant at Rhourde El Baguel in southern Algeria, the company said. Algeria, a major energy supplier to Europe, is boosting its output to meet higher demand. (Reporting by Lamine Chikhi; …
Algeria’s Sonatrach awards Tecnimont a $400 million LPG plant contract Read More »
JOHANNESBURG (Reuters) – South Africa’s premier bourse the Johannesburg Stock Exchange (JSE) said on Thursday it was implementing measures to amend listing requirements for companies in order to attract more firms to the country’s stock market. The JSE has been hit by a wave of de-listings in the last two years and has seen minimal …
Johannesburg Stock Exchange changes listing rules to attract more firms Read More »
