NAIROBI (Reuters) – Kenyan private sector activity contracted for the fifth consecutive month in August amid a broader slowdown as the country held elections, a survey showed on Monday. The S&P Global Kenya Purchasing Managers’ Index (PMI) dropped to 44.2 in August from 46.3 a month earlier. The index has stayed below the 50.0 mark …
Kenya private sector activity drops for fifth straight month in August -PMI Read More »
LUSAKA (Reuters) – Zambia will not be paying its $750 million euro bond due in September until new terms of payment are agreed between the government and bondholders, its Finance Minister Situmbeko Musokotwane said on Sunday. The International Monetary Fund (IMF) on Thursday approved a $1.3 billion, 38-month loan programme, a step taken after its …
Zambia not to pay euro bond due in September – Finance Minister Read More »
By Felix Onuah ABUJA (Reuters) – Nigeria has agreed to pay $496 million to settle a multi-billion dollar claim from Global Steel Holdings Ltd following the termination of a contract to upgrade the country’s steel plants, the presidency said on Saturday. Global Steel, which is linked to India’s Mittal family, had between 2004-7 acquired rights …
Nigeria to pay $496 million to settle claims over steel plants Read More »
By Dawit Endeshaw ADDIS ABABA (Reuters) -Ethiopia’s government has decided to open up the country’s banking sector to foreign investors, the prime minister’s office said on Saturday, the latest measure aimed at drawing investment from abroad. The government of Prime Minister Abiy Ahmed, who came to power in 2018, has been working to open up …
Ethiopia plans to open up banking sector to foreign investors Read More »
DAKAR (Reuters) – Namibian offshore oil and gas discoveries by TotalEnergies and Shell are of commercial quantities, likely in the billions of barrells, the southern African nation’s mines and energy minister said on Friday. Both companies announced earlier this year that they had made “significant” discoveries offshore Namibia, and are currently making assessments. The companies …
Shell and Total Namibia oil discoveries likely in billions of barrels -minister Read More »
(Reuters) – The South African rand strengthened against the dollar on Friday, after the U.S. currency edged back from a two-decade peak as traders digested a U.S. jobs report. At 1527 GMT, the rand traded at 17.2200 against the dollar, 0.3% stronger than its previous close. Nonfarm payrolls rose by 315,000 jobs in August, U.S. …
S.Africa’s rand strengthens as dollar edges down after U.S. jobs report Read More »
(Reuters) – South African petrochemical firm Sasol on Friday said it was partnering with Japan’s Itochu Corp to explore the development of green hydrogen and green ammonia projects for shipping fuel and power generation. Sasol is currently the world’s biggest producer of fuel products and chemicals from coal, but is transitioning away from the fossil …
Sasol partners with Japan’s Itochu for green hydrogen projects Read More »
NAIROBI (Reuters) – Kenya’s shilling weakened on Friday due to increased demand for dollars from the energy and manufacturing sectors against lower inflows from remittances, traders said. At 0812 GMT, commercial banks quoted the shilling at 120.15/35 per dollar, compared with Thursday’s close of 120.05/25. Late on Thursday, the shilling touched a new all-time low …
Kenyan shilling weakens due to increased dollar demand from energy sector Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened on Thursday as the dollar hit a fresh two-decade high after U.S. data showed a strong economy, raising more expectations of higher interest rates from the Federal Reserve. At 1639 GMT, the rand traded at 17.2950 against the dollar, 0.93% weaker than its previous close. The greenback was last …
South African rand weakens as dollar hits a new 20-yr high Read More »
DAKAR (Reuters) – Democratic Republic of Congo has received two offers for the three gas blocks it is licensing, Hydrocarbons Minister Didier Budimbu Ntubuanga said at a conference in Dakar on Thursday. He did not comment on the Congolese oil blocks that are also up for auction, but said exploration there would follow environmental guidelines. …
Democratic Republic of Congo has received two offers for gas blocks Read More »
