(Reuters) -South Africa’s rand weakened on Friday, as the U.S. dollar hovered near its recent peaks on expectations that the Federal Reserve would need to hike interest rates more to tame inflation. At 1600 GMT, the rand traded at 17.6725 against the dollar, 0.48% weaker than its previous close. The dollar index, which measures the …
South African rand slides as dollar steadies ahead of Fed Read More »
JOHANNESBURG (Reuters) – Over 100 economists and development experts on Friday called for asset manager BlackRock and other holders of Zambian bonds to cancel some of that debt, saying continuing to pay private creditors was “economically inefficient and morally wrong”. Zambia became Africa’s first pandemic-era sovereign default nearly two years ago and is seeking $8.4 …
BlackRock, bondholders must cancel Zambia debt -economists, experts Read More »
CAPE TOWN (Reuters) – South African power utility Eskom expects a final decision on a new $476 million World Bank loan to repurpose its Komati coal-fired power plant into a renewable station before November’s COP27 climate summit, chief executive Andre de Ruyter said on Friday. The money will be used for three packages, which includes …
Eskom expects $476 million World Bank loan decision by November Read More »
LONDON (Reuters) – The International Monetary Fund is providing technical advice to Ethiopia’s creditor committee working on debt restructuring and will hold further discussions with authorities on the East African country’s proposed reforms and on potential IMF financial support, a Fund spokesperson said on Thursday. An IMF staff visit to Ethiopia provided an initial look …
IMF giving advice to Ethiopia’s creditors, monitoring conflict Read More »
(Reuters) -South Africa’s rand weakened on Thursday, as the U.S. dollar held near recent peaks after traders continued to bet that the U.S. Federal Reserve will be aggressive next week in its battle to curb inflation. At 1530 GMT, the rand traded at 17.5500 against the dollar, 0.4% weaker than its previous close. The U.S. …
South African rand weakens against dollar with Fed in focus Read More »
GABORONE (Reuters) – State-owned Botswana Oil on Thursday invited private investors to participate in a Public-Private Partnership (PPP) tender to build a 171 million litres oil storage facility as the southern African nation seeks to boost its oil reserves. Botswana Oil said in a tender document it was seeking bids from companies to design, build, …
Botswana seeks investors in project to triple strategic oil reserves Read More »
By MacDonald Dzirutwe LAGOS (Reuters) – Inflation in Nigeria rose for a seventh straight month to 20.52% in August, the statistics bureau said on Thursday ahead of a central bank rate decision next week. The central bank meets on Tuesday to decide on rates in Africa’s largest economy. It has previously said it would continue …
Nigeria inflation quickens in August ahead of rate decision Read More »
HARARE (Reuters) – Anglo American Platinum’s Zimbabwe unit has taken the Zimbabwe Revenue Authority (ZIMRA) to court over a $24 million royalty dispute, court documents seen by Reuters show. Unki Platinum mine filed an urgent application in Zimbabwe’s high court on Sept. 9 to stop the revenue authority from seizing the money from the miner’s …
Amplats unit takes Zimbabwe tax agency to court over $24 million royalty dispute Read More »
(Refiles to fix repeat wording in lead) By Maytaal Angel ROME (Reuters) – The European cocoa and chocolate industry is offering to share data on cocoa farm locations with top producers Ivory Coast and Ghana in a bid to ramp up efforts to fight deforestation in the sector. Cocoa traders, consumers and producers are coming …
EU chocolate industry offers to share cocoa farm data with Ivory Coast, Ghana Read More »
CAPE TOWN (Reuters) -TotalEnergies 11B/12B offshore gas field could make a direct annual contribution of at least 8 billion rand ($457 million) to South African government finances, the country’s petroleum regulator said on Thursday. “That is not just the overall GDP contribution but is the direct fiscal contribution from the royalties as well as the …
TotalEnergies gas fields could generate $450 million a year for S.Africa, regulator says Read More »
