JOHANNESBURG (Reuters) -The South African rand weakened further on Friday, dragged down by a stronger dollar as Federal Reserve officials continued to talk up the need for further interest rate hikes. At 1529 GMT, the rand was trading at 17.0275 against the dollar, down 0.89% from its previous close. The rand has now lost more …
S.African rand falls as dollar surges on Fed rate hike forecasts Read More »
By Felix Onuah ABUJA (Reuters) -Nigeria’s President Muhammadu Buhari expressed concern on Friday over large-scale crude oil theft, saying it was affecting the country’s revenues “enormously”. Nigeria lost $1 billion in revenue during the first quarter of this year due to crude theft, the oil regulator has said. Nigeria is unable to meet some of …
Nigeria’s Buhari worried over large scale crude oil theft Read More »
HARARE (Reuters) – Australian-listed Invictus Energy Ltd expects to start drilling its first exploration well for oil and gas in the northern part of Zimbabwe in the coming weeks, an official with the company’s Zimbabwean subsidiary said on Friday. The first well, Mukuyu-1, situated in the Muzarabani-Mbire area, will be 3.5 kilometres (km) deep at …
Invictus Energy expects to drill first Zimbabwe exploration well in coming weeks Read More »
By MacDonald Dzirutwe LAGOS (Reuters) – Nigeria is cracking down on unregistered online money lenders who provide short term loans without security at high interest, the consumer protection agency said, adding it had asked Google to remove some lenders’ apps from its play store. Known as “loan sharks” for their aggressive recovery methods, the lenders …
Nigeria moves against unregistered online money lenders Read More »
NAIROBI (Reuters) – Kenya’s shilling was broadly stable against the dollar on Friday as dollar supply and demand started to ramp up after a post-election lull, traders said. Deputy President William Ruto was declared president-elect by the Kenyan election commission on Monday, but his defeated rival Raila Odinga has said he will contest the results …
Kenyan shilling stable, trade ramping up after election lull Read More »
(Reuters) – Australia’s Fortescue Metals Group said on Friday a majority-owned joint venture signed an agreement with Gabon that will pave the way to study and obtain a licence to explore the Belinga iron ore project in the West African nation. The licence will be sought by Ivindo Iron SA, a joint venture in which …
Australia’s Fortescue inches closer to iron ore exploration in Gabon Read More »
RABAT (Reuters) – Morocco’s consumer price index rose by 7.7% year-on-year in July, the high commission for planning said on Friday. Food prices rose by 12%, non-food inflation increased by 5% while transport prices surged 18.5% on the back of higher energy cost. On a month-on-month basis, the index rose by 0.9%. Core CPI, which …
Rising food prices drive Morocco’s CPI up 7.7% in July Read More »
(In AUG 18 story Lukoil corrects its statement, paragraph 3) (Reuters) -Russian oil firm Lukoil said on Thursday a decision by Norway’s Aker Energy to postpone the submission of a development plan for its Pecan oilfield off Ghana over sanctions concerns had no lawful grounds. Aker Energy, controlled by Aker ASA, owns 50% of the …
Lukoil says no lawful grounds for postponing Ghana oilfield submission Read More »
LAGOS (Reuters) – Nigeria’s sovereign wealth fund recorded after tax profit of 153.8 billion naira ($366 million) in 2021, down 1.9% from the previous year, the vice president’s spokesman said. Laolu Akande said in a statement on Thursday that the head of Nigerian Sovereign Investment Authority (NSIA) had made a presentation of its operations to …
Nigeria says sovereign fund made $366 million profit in 2021 Read More »
JOHANNESBURG (Reuters) -South Africa’s Standard Bank said on Friday its interim profit rose 30%, around the mid range of its estimate, as it benefited from a rebound in post-pandemic banking activities. The continent’s biggest lender by assets reported headline earnings per share – the main corporate profit measure in South Africa – of 936.2 cents …
South Africa’s Standard Bank posts 30% rise in first half profit Read More »
