Reuters Africa Business

By Wendell Roelf CAPE TOWN (Reuters) – South Africa has granted oil majors and traders, including BP and Vitol, extended access at its main petrochemical hub, ending years of wrangling over short-term leases that threatened investment and supply security, the national fuels body said. Transport Minister Barbara Creecy extended the lease agreements at the Island …

South Africa grants long-term leases to oil majors at key Durban fuel hub Read More »

JOHANNESBURG (Reuters) – The South African rand was muted on Tuesday, as domestically focussed investors awaited the release of inflation data and an interest rate decision later this week. At 1317 GMT the rand traded at 17.3725 against the dollar, about 0.2% weaker than Monday’s close. “If anything, the ZAR is disappointing in its movements …

South African rand muted as investors focus on local CPI, interest rate meeting Read More »

LAGOS (Reuters) -Nigeria’s finance ministry has ordered the immediate suspension of a levy on all imported goods, which companies had said would raise the cost of doing business and crimp economic recovery efforts. Finance Minister Wale Edun said in a directive issued late on Monday that the 4% Free on Board (FOB) levy, introduced by …

Nigeria suspends FOB levy on imports after industry backlash Read More »

By Chibuike Oguh and Amanda Cooper NEW YORK/LONDON (Reuters) – Global shares hit a fresh record high on Monday as markets positioned for the U.S. Federal Reserve to begin its monetary policy easing cycle this week. Gold prices hit a record high as the U.S. dollar weakened. Traders widely expect the Fed to deliver a 25 …

Stocks hit fresh record highs, dollar falls ahead of Fed move Read More »

By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar weakened across the board on Monday as investors wait for the Federal Reserve to resume interest rate cuts at this week’s meeting and as President Donald Trump renewed calls for faster monetary policy easing. Trump on Monday called for Fed Chair Jerome Powell to enact …

Dollar slips as traders await Fed interest rate decision Read More »

By Georgina McCartney HOUSTON (Reuters) – Oil prices settled higher Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries and of U.S. President Donald Trump pressing NATO nations to halt Russian oil purchases. Brent crude futures settled up 45 cents, or 0.67%, at $67.44 a barrel while U.S. West Texas Intermediate …

Oil settles higher as investors assess attacks on Russian energy facilities Read More »

LUSAKA (Reuters) – The International Monetary Fund’s executive board has approved a three-month extension of Zambia’s loan programme, the fund said on Monday, and a request for a longer extension will be discussed later. The IMF said in a statement that the three-month extension to January 30, 2026, would allow sufficient time to complete a …

IMF prolongs Zambia programme by three months, will discuss longer extension Read More »

JOHANNESBURG (Reuters) – The South African rand was poised against a weaker dollar, while government bonds firmed on Monday after a survey commissioned by the country’s central bank showed longer-term inflation expectations dropped to a record low. At 1525 GMT, the rand traded at 17.3725 against the dollar, up 0.1% on Friday’s close. South Africa’s …

South African rand steady, bonds gain after positive inflation survey Read More »