(Reuters) -South Africa’s rand weakened against the dollar on Friday after data showed the country recorded a smaller-than-expected trade surplus for the month of June. At 1545 GMT, the rand traded at 16.6125 against the dollar, 0.76% weaker than its previous close. Data from the South African Revenue Service showed that the trade surplus narrowed …
South African rand weakens after trade data; stocks rise Read More »
NAIROBI (Reuters) – Kenya’s consumer inflation rose to 8.3% year-on-year in July, up from 7.9% a month earlier, the statistics office said on Friday. On a monthly basis, inflation was 0.7% compared with 0.9% in June, the Kenya National Bureau of Statistics said in a statement. (Reporting by Hereward Holland; Editing by Alexander Winning)
(Reuters) – South Africa recorded a trade surplus of 24.23 billion rand ($1.47 billion) in June, down from a revised surplus of 30.85 billion rand in May, data from the revenue service showed on Friday. Exports rose 1.6% month on month to 184.61 billion rand, while imports were up 6.3% at 160.38 billion rand, the …
South Africa trade surplus narrows to 24.23 billion rand in June Read More »
ABIDJAN (Reuters) – Ivory Coast and Ghana, the world’s biggest cocoa producers, on Friday said they would raise the premium next month that chocolate makers and traders pay for their high quality beans. Ivory Coast’s Coffee and Cocoa Council (CCC) has set its origin differential at zero for August compared to -125 pounds/tonne in July, …
Ivory Coast, Ghana to raise cocoa origin differentials in August Read More »
By Lamine Chikhi ALGIERS (Reuters) – Algeria, Nigeria and Niger have signed a memorandum of understanding to build a natural gas pipeline across the Sahara desert, Algeria’s energy minister Mohamed Arkab said on Thursday. The three countries agreed in June to revive decades-old talks over the project, a potential opportunity for Europe to diversify its …
Algeria, Niger and Nigeria sign MoU for Saharan gas pipeline Read More »
DUBAI (Reuters) – The United Arab Emirates and Kenya have agreed to launch talks on a comprehensive economic partnership which would be the first of its kind between the Gulf Arab state and an African country, state news agency WAM reported on Thursday. The deal aims to boost bilateral non-oil trade, which has grown to …
UAE, Kenya to launch talks over comprehensive economic partnership – WAM Read More »
HARARE (Reuters) – Zimbabwe will double the royalty rate it charges mining companies on the platinum group metals (PGMs) they produce to 5% from January 2023 in a bid to increase government revenues, Finance Minister Mthuli Ncube announced on Thursday. The southern African country is the third largest producer of platinum, after South Africa and …
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By Christian Akorlie ACCRA (Reuters) – Ghana is anticipating a possible three-year programme with the International Monetary Fund (IMF) worth about $2 billion to $3 billion, Finance Minister Ken Ofori-Atta said on Thursday. “We’re thinking of maybe a three-year programme … but knowing that within two years we must have achieved most of what we …
Ghana looking at 3-year IMF programme of $2 billion-$3 billion -finance minister Read More »
JOHANNESBURG (Reuters) – South African fashion retailer TFG reported a 16.3% rise in first quarter turnover on Thursday, as consumers coming out of the COVID-19 lockdowns splashed out on items to rejuvenate their wardrobes and homes. By 1400 GMT, shares in TFG were up 5.43% to 124.60 rand, a near three-week high. The clothes, homeware …
South African retailer TFG reports first-quarter sales jump, shares rise Read More »
(Reuters) – Private sector credit in South Africa rose by 7.53% year on year in June after rising by 5.34% in May, central bank data showed on Friday. The broadly defined M3 measure of money supply increased by 8.33% in June after expanding by a revised 7.24% in the previous month. (Reporting by Bhargav Acharya …
South Africa’s private sector credit up 7.53% y/y in June Read More »
