(Reuters) -The South African rand weakened on Thursday, as the dollar gained momentum and investors awaited U.S. jobs data on Friday that is expected to provide clues on the Federal Reserve’s interest rate trajectory. At 1626 GMT the rand traded at 17.9600 against the dollar, 0.96% weaker than its previous close. The dollar index, which …
South African rand weakens as dollar extends gains Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) -Kenya’s Safaricom launched its mobile network in Ethiopia on Thursday, becoming the first private operator in one of Africa’s largest telecoms markets. State-owned Ethio Telecom has until now enjoyed a monopoly in Ethiopia, Africa’s second-most populous country with an estimated 118 million people. Safaricom Ethiopia switched on its network …
Kenya’s Safaricom launches network in Ethiopia as first private operator Read More »
RUSTENBURG (Reuters) – South Africa’s gaming and hotel group Sun International is expanding its timeshare units by building 58 luxury villas for 295 million rand ($16.55 million) at its Sun City resort, as the hospitality industry readies for a full recovery from the COVID-19 pandemic blow. Travellers, largely free of COVID-linked restrictions, are spending again …
South Africa’s Sun International bets on high spenders for income Read More »
By Christian Akorlie and Cooper Inveen ACCRA (Reuters) -Ghana’s central bank raised its main lending rate by a further 250 basis points on Thursday, taking it to a five-year high of 24.5%, saying inflation remained high and risks were on the upside. The bank has increased its prime lending rate by another 550 basis points …
Ghana central bank raises lending rate to 24.5% to tame inflation Read More »
KAMPALA (Reuters) -Uganda’s central bank raised its main lending rate by 1 percentage point to 10.0% on Thursday, citing a deterioration in the inflation outlook linked to a regional drought, weaker shilling and global economic factors. The Bank of Uganda has now raised its Central Bank Rate by 3.5 percentage points this year to try …
Uganda hikes key rate to 10% as inflation outlook worsens Read More »
JOHANNESBURG (Reuters) – Rio Tinto’s South Africa unit will source solar power from a plant built by France’s Voltalia, the mining firm said on Thursday, the latest to seek alternative electricity supply as South Africa’s rolling power cuts hammer productivity. Richards Bay Minerals (RBM), Rio Tinto’s mineral sands operation in South Africa’s KwaZulu Natal province, …
Rio Tinto sources Voltalia solar power for South Africa mine Read More »
JOHANNESBURG (Reuters) – South African coal miner Seriti Resources may export some coal produced from its New Largo mine project, Chief Executive Mike Teke said on Wednesday, as global demand for the fossil fuel surges. New Largo is conceived as a feeder mine for the Kusile coal-fired power plant owned by state power company Eskom. …
S. Africa’s Seriti looks at export options for new coal mine Read More »
ACCRA – Ghana has raised the guaranteed farmgate price paid to cocoa farmers to 12,800 cedis ($1,248.78) per tonne for the main crop of the 2022/23 season, which will begin on Oct. 7, up from 10,560 cedis for the last two seasons, the agriculture minister said on Wednesday. Despite the 21% increase, the price is …
Ghana raises cocoa farmgate price by 21% for 2022/23 season Read More »
(Corrects Oct 5 story to show Glencore sold to Zambia’s state mining investment firm ZCCM-IH, not to the state) JOHANNESBURG (Reuters) -Sibanye-Stillwater has expressed an interest in Zambia’s Mopani Copper Mines, the mine and smelter complex looking for new investors after Glencore sold the asset to state mining investment company ZCCM-IH in January last year, …
Sibanye-Stillwater interested in Zambia’s Mopani Copper Mines -CEO Read More »
By Tarek Amara TUNIS (Reuters) – Tunisia’s central bank on Wednesday raised its key interest rate by 25 bps to 7.25% to combat inflation, the bank said, the second hike in five months. The central bank also decided to raise the interest rate on savings by 25 basis points to 6.25%. Inflation in the North …
Tunisia central bank raises key interest rate by 25 bps to 7.25% Read More »
