JOHANNESBURG (Reuters) -AngloGold Ashanti’s CEO expects inflationary pressures to ease next year, he said on Friday after the miner joined rivals in reporting a hit to half-year profit and forecast that costs would be at the top end of guidance this year. Lower commodities prices in 2023 are likely to bring the company’s costs inflation …
AngloGold Ashanti CEO sees inflation pressure easing next year Read More »
LUSAKA (Reuters) -Zambia’s Finance Minister Situmbeko Musokotwane said on Friday that the International Monetary Fund’s executive board was expected to meet at the end of the month to approve a lending plan. The southern African country reached a staff-level agreement with the IMF on a $1.4 billion three-year extended credit facility in December, conditional upon …
Zambia sees IMF board meeting at end-August to approve loan programme Read More »
JOHANNESBURG (Reuters) – South Africa and Botswana have agreed to fund the improvement and extension of rail links between the countries in a bid to boost trade and better connect Botswana to export markets, South African state-owned logistics firm Transnet said on Friday. Transnet Freight Rail (TFR) will collaborate with Botswana Rail (BR) to fix …
South Africa and Botswana to improve rail freight links Read More »
(Reuters) – South Africa’s Impala Platinum on Friday said it expects its full-year profit to fall by as much as 21% due to lower production, weaker metal prices and inflationary pressures on costs. In a trading update, Impala said it expects its headline earnings per share (HEPS) – the profit measure most commonly used in …
S.Africa’s Impala expects profit fall on weaker output, prices Read More »
JOHANNESBURG (Reuters) – South Africa’s net reserves dipped to $53.737 billion in July from $53.813 billion in June, the Reserve Bank said on Friday. Gross reserves rose, to $59.510 billion in July from $58.923 billion in June. The forward position, which represents the central bank’s unsettled or swap transactions, dropped to $1.606 billion from $2.383 …
South Africa’s net reserves dip to $53.737 billion in July Read More »
(Reuters) – Ethiopia’s inflation slowed slightly to 33.5% year on year in July from 34.0% in June, data from the country’s statistics office showed. (Reporting by Alexander Winning and Hereward Holland)
JOHANNESBURG (Reuters) -South Africa’s rand firmed on Thursday as the U.S. dollar edged down on fading support from the Federal Reserve’s hawkish messaging ahead of highly anticipated jobs data on Friday. At 1523 GMT the rand traded at 16.6750 against the dollar, up 0.39% from its previous close. On Tuesday, the rand fell sharply in …
South African rand firms against dollar ahead of U.S. jobs data Read More »
LUSAKA (Reuters) -China invited Zambia’s private creditors to discuss the country’s debt later this month after official lenders agreed to a restructuring of its debt, Chinese ambassador to Zambia Du Xiaohui said on Thursday. Zambia’s creditors have pledged to negotiate a restructuring of the country’s debts in a move welcomed by International Monetary Fund (IMF) …
China invites Zambia’s private creditors for debt restructuring talks Read More »
LAGOS (Reuters) – Dangote Industries Limited has completed more than half of a planned 300 billion naira ($720.82 million) bond issue to fund its mega-refinery on the outskirts of Lagos, spokesman Anthony Chiejina told Reuters on Thursday. Chiejina said the company had raised 187.5 billion naira in the series one issuance, completed last month, and …
Dangote completes half of planned 300 billion naira bond for oil refinery – spokesman Read More »
(Reuters) -South Africa’s Gold Fields on Thursday said it expects its half-year profit to rise by up to 33%, driven by higher metal prices and increased production, but flagged the impact of rising inflation on costs. Gold Fields expects headline earnings per share (HEPS) – the main profit measure used in South Africa – of …
S.Africa’s Gold Fields expects H1 profit jump on higher prices, output Read More »
