GABORONE (Reuters) -Botswana’s central bank raised its monetary policy rate by 50 basis points to 2.65% in a bid to tame inflation, Governor Moses Pelaelo said on Thursday. Earlier this year the Bank of Botswana switched to an interest rate based on a seven-day instrument instead of an annual rate called the Bank Rate. The …
Botswana raises monetary policy rate by 50 basis points Read More »
By Rachel Savage LONDON (Reuters) – South Africa should cut corporation tax, raise VAT and maintain COVID-19 relief grants, while making sure the poorest are not worse off, the Organisation for Economic Cooperation and Development (OECD) said in a report on Thursday. The government managed the COVID-19 crisis relatively well and consumption and exports are …
South Africa should cut corporate tax, keep COVID relief grant, says OECD Read More »
LONDON (Reuters) – Angola’s sovereign dollar bonds gained on Thursday as provisional election results from ballot counting indicated a strong lead for ruling MPLA party. Longer-dated issues recorded the strongest gains with the 2049 bond up 1.5 cent to just over 80 cents in the dollar, Tradeweb data showed. The premium demanded by investors to …
Angola dollar bonds rise as provisional results show ruling MPLA ahead Read More »
JOHANNESBURG (Reuters) -South African drugmaker Adcock Ingram said on Thursday its full-year profit had risen by almost a quarter, fuelled by increased demand for its over-the-counter and consumer products. Its headline earnings per share, the main measure of corporate profit in South Africa, was 502 South African cents ($0.2976), for the year that ended on …
S.African drugmaker Adcock Ingram’s full-year profit rises 24% Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South African drinks maker Distell reported a 36.7% jump in annual profit on Thursday as consumers bought more wine, ciders and spirits despite cost of living pressures, but said rising costs were weighing on margins. Distell, set to be taken over by Dutch beverage company Heineken, was hit hard by …
Distell profits surge on S.African demand for alcoholic drinks Read More »
(Reuters) -Gold Fields is making “encouraging progress” in winning shareholders over to its $6.7 billion all-share purchase of Canada’s Yamana Gold, CEO Chris Griffith said on Thursday. Shares in South Africa-headquartered Gold Fields dropped 20% when the deal was unveiled on May 31, as investors worried about the dilution to their holdings and the premium …
Gold Fields sees progress in winning investors over to Yamana deal Read More »
(Reuters) -South Africa’s rand firmed on Wednesday after data showed consumer inflation accelerated in July, signalling the likelihood of domestic interest rates hikes. At 1549 GMT, the rand traded at 16.9500 against the dollar, 0.25% stronger than its previous close. Headline consumer inflation quickened to 7.8% year on year in July from 7.4% in June, …
South African rand firms as inflation accelerates Read More »
GABORONE (Reuters) – Botswana has suspended beef exports after a suspected outbreak of foot and mouth disease, the Department of Veterinary Services said on Wednesday, a move that could hurt the country’s earnings from the lucrative EU market. Along with South Africa and Namibia, Botswana is one of the biggest beef exporters to the European …
Botswana suspends beef exports over suspected foot & mouth outbreak Read More »
By Libby George LAGOS (Reuters) – Nigeria needs at least $10 billion in additional funding per year to reach net zero by 2060 in a plan that would involve gas as a transition fuel, officials said while launching the nation’s energy transition plan on Wednesday. The effort aims also to expand power access to all …
Nigeria seeking extra $410 billion for energy transition plan including gas Read More »
By Ayenat Mersie NAIROBI (Reuters) -Kenyan bank KCB Group laid out plans for further regional expansion on Wednesday after the country’s second-biggest lender by assets reported a 29% jump in first-half pre-tax profit. KCB reported pre-tax profit of 28.2 billion shillings ($235 million) for the first six months of this year. Net interest income rose …
Kenya’s KCB Group eyes regional expansion as profit jumps Read More »
