(Reuters) -South Africa’s rand rose against the dollar and stocks fell on Wednesday, after U.S. inflation for June came in higher than expected, raising bets about another big Federal Reserve interest rate increase. At 1555 GMT, the rand traded at 16.9200 against the dollar, 0.7% stronger than its previous close. The dollar index, which measures …
South African rand rises and stocks fall after hot U.S. inflation Read More »
(Reuters) – Zambian finance minister Situmbeko Musokotwane said on Wednesday that a second meeting with official creditors to try to resolve the country’s debt crisis will take place on Monday. “… we are very confident that something positive will come out of it,” Musokotwane said during a meeting between Zambia’s President Hakainde Hichilema and World …
Zambia Finance Minister says second meeting with creditors due on July 18 Read More »
By Andrea Shalal TOKYO (Reuters) -Chad’s official creditors are expected to agree on Wednesday a debt restructuring strategy that includes contingencies based on oil prices and participation of private creditor Glencore, a person familiar with the plans said. Their meeting comes amid pressure from the International Monetary Fund and others for resolution of Chad’s request …
Chad creditors expected to agree phased ‘contingent’ debt relief plan Read More »
JOHANNESBURG (Reuters) – South Africa’s retail sales in May rose 0.1% year on year after rising by a revised 4.3% in April, Statistics South Africa figures showed on Wednesday. On a month-on-month basis, sales were down 1.0%. Sales in the three months to the end of May were up 1.9% compared with the same period …
By Cooper Inveen and Christian Akorlie ACCRA (Reuters) – Consumer inflation in Ghana accelerated to 29.8% annually in June from 27.6% in May, official data showed on Wednesday, shattering another record while the West African nation talks to the International Monetary Fund (IMF) for support. Inflation last hit 29% in January 2004. June prices were …
Ghana inflation scales new peak at 29.8% in June Read More »
(Reuters) – South Africa’s state-owned rail firm Transnet has agreed a five-year loan worth $1.5 billion with a group of international lenders led by Deutsche Bank AG in its biggest funding transaction in seven years. Poor maintenance, a lack of spare parts for trains, copper cable theft and vandalism have disrupted Transnet’s freight rail services. …
South Africa’s Transnet signs $1.5 billion loan with international banks Read More »
JOHANNESBURG (Reuters) – The Democratic Republic of Congo’s trade ministry has ordered the cancellation of 14 levies on exports and imports and the reduction of 20 more duties at the borders in a bid to make trading more smooth and stamp out “illegal” taxes. Africa’s biggest copper producer and the world’s biggest cobalt producer, Congo …
DR Congo cancels 14 customs levies in bid to smooth trade Read More »
NAIROBI (Reuters) – Kenya’s shilling touched an all-time low on Wednesday due to increased demand for dollars from oil companies and general goods importers, traders said. At 0830 GMT, commercial banks quoted the shilling at 118.10/30 per dollar, compared with Tuesday’s close of 118.05/25. Earlier on Wednesday it touched an all-time low of 118.25/45, Refinitiv …
Kenya shilling hits all-time low; seen staying on back foot Read More »
ABIDJAN (Reuters) – Ivory Coast’s cocoa grind was up 57.1% year-on-year in June to 55,000 tonnes, data from exporters’ association GEPEX showed on Wednesday. The total grind from the start of the 2021/22 season in October stood at 472,000 tonnes of beans by the end of the May, compared with 411,000 tonnes at the same …
Ivory Coast cocoa grind up 57.1% y/y in June, say exporters Read More »
CAIRO (Reuters) – Egypt’s fuel pricing committee in a quarterly review on Wednesday raised domestic fuel prices by 0.50 Egyptian pounds for 80-octane, 92 octane petrol, and diesel while 95-octane petrol was raised by 1 pound, the petroleum ministry said in a statement. Prices of 80-octane, 92-octane and 95-octane petrol were raised to 8 EGP …
Egypt raises domestic fuel prices in quarterly review -statement Read More »
