JOHANNESBURG (Reuters) -The South African rand held steady on Wednesday as the U.S. dollar surged to new highs after a decision by Russian President Vladimir Putin to mobilise more troops for the conflict in Ukraine. At 1711 GMT, the rand traded at 17.6950 against the dollar, 0.08% weaker than its previous close. Putin on Wednesday …
South African rand flat as dollar soars, stocks edge lower Read More »
By Kopano Gumbi and Alexander Winning JOHANNESBURG (Reuters) -Consumer inflation in South Africa dipped slightly in August on lower fuel prices but analysts said the decline was likely not large enough to deter the central bank from further rate hikes. Statistics South Africa said on Wednesday inflation eased to 7.6% year on year in August …
S.African inflation dips, analysts still see rate hikes Read More »
RABAT (Reuters) – Morocco’s consumer price index rose by 8% year-on-year in August driven by food and transport costs, the Moroccan statistics agency (HCP) said on Wednesday. Food prices rose by 14.1% while non-food inflation increased by 4% due in particular to a surge in transport prices to 12.8%. On a month-on-month basis, the index …
By Cooper Inveen and Christian Akorlie ACCRA (Reuters) – An International Monetary Fund team will visit Ghana next week to pursue discussions on the West African country’s request for a loan programme, two finance ministry sources said on Tuesday. Ghana turned to the IMF for help in July as its balance-of-payments deteriorated and hundreds took …
IMF team to visit Ghana next week, finance ministry sources say Read More »
KAMPALA (Reuters) – Uganda’s coffee exports plummeted 28.5% year on year in August, hurt by a drought that blighted crops in parts of the country and squeezed yields, the coffee industry regulator said. The east African country shipped a total of 501,054 60-kg bags of coffee in August, compared with 700,990 bags exported in the …
Uganda coffee exports plunge 29% in August on impact of drought Read More »
JOHANNESBURG (Reuters) -The South African rand weakened against the U.S. dollar on Tuesday as financial markets braced for this week’s U.S. Federal Reserve meeting where an aggressive interest rate hike is expected. At 1530 GMT, the rand traded at 17.7100 against the dollar, 0.25% weaker than its previous close. Local data showed that a composite …
South African rand weakens as markets brace for Fed Read More »
ABUJA (Reuters) – Nigeria’s total public debt rose 3% to $103.3 billion in the second quarter of this year, largely driven by local borrowing to finance the budget deficit, the Debt Management Office (DMO)said. Nigeria’s deficit has grown this year due to the high cost of a fuel subsidy at a time when oil revenue …
Nigeria’s public debt rises to $103 billion in second quarter Read More »
By Cooper Inveen and Christian Arkolie ACCRA (Reuters) -Ghana’s economy expanded 4.8% year-on-year in the second quarter of 2022, driven by growth in the fishing, manufacturing and education services sectors, data from the country’s statistics service said on Tuesday. The gold- and cocoa-producing nation, which said in July it would seek IMF support as its …
Ghana economy up 4.8% in second quarter – stats office Read More »
(Reuters) – South Africa’s coal exporter Thungela Resources on Tuesday said it had signed a three-year wage agreement with the National Union of Mineworkers (NUM). “The wage agreement increases salary and salary-related allowances and is expected to increase the total labour cost-to-company, on average by approximately 6% per annum over the three-year period,” Thungela said …
WASHINGTON (Reuters) – The International Monetary Fund on Monday said its staff had reached an agreement with Mozambican authorities on economic and financial policies that could pave the way for disbursement of $63.8 million, if approved at a December board meeting. Alvaro Piris, who led the IMF staff’s first review under Mozambique’s Extended Credit Facility …
IMF staff reaches agreement with Mozambique that could unlock $63.8 million Read More »
