By Nqobile Dludla JOHANNESBURG (Reuters) – With two days to go until opening to the public, workers rush to put the finishing touches on the Kwena Square shopping complex, a shiny $13 million sign that South Africans are defying the global “retail apocalypse”. Not even COVID-19 could separate them from their beloved malls. “I love …
COVID can’t break South Africa’s love affair with shopping malls Read More »
By Duncan Miriri NAIROBI (Reuters) – The board of the International Monetary Fund will meet next month to consider the latest review of Kenya’s performance in its current lending programme, a senior fund official said, potentially unlocking a $239 million tranche. The East African nation struck a $2.34 billion extended fund facility and extended credit …
IMF’s board to review Kenya’s performance in mid-July, $239 million at stake Read More »
(Reuters) – South Africa’s consumer confidence plunged to minus 25 in the second quarter of 2022, the lowest in more than three decades — barring 2020 when the COVID-19 pandemic hit — as consumers tightened their purse strings, a survey showed on Wednesday. Factors spanning from the impact of COVID-19-related restrictions to soaring commodity prices …
S.African consumer confidence plummets in Q2 as spending shrinks Read More »
(Reuters) – De Beers Group said on Wednesday that it had agreed with the government of Botswana to extend by one year an agreement for the sale of rough diamonds from their joint venture, Debswana. The 2011 rough diamond sales agreement in which the venture sells 75% of its output to De Beers was set …
De Beers, Botswana extend diamond sales deal by a year Read More »
(Reuters) – An agreement was reached on Tuesday between South African state power utility Eskom and workers’ unions over a wage settlement, Public Enterprises Minister Pravin Gordhan told a news conference. (Reporting by Anait Miridzhanian in Gdansk, Writing by Nellie Peyton; Editing by Alexander Winning)
(Reuters) – Zambia’s finance minister Situmbeko Musokotwane said on Tuesday that the country’s economy would be highly compromised without external support. (Reporting by Chris Mfula; Writing by Anait Miridzhanian; Editing by Estelle Shirbon)
(Reuters) -South Africa’s Impala Platinum on Tuesday said it had agreed a five-year wage deal with the Association of Mineworkers and Construction Union (AMCU). “The agreement is in line with current mining inflation of (about) 6.5% and considers the reality of sustained inflationary pressures faced by our employees,” Impala said in a statement, adding that …
(Reuters) -The International Monetary Fund said on Tuesday it had authorised the immediate disbursement to Gabon of $155.29 million under its Extended Fund Facility (EFF) programme for the oil-producing Central African country. The programme was approved by the IMF board in July 2021 to help Gabon respond to the economic fallout from the COVID-19 pandemic …
LUSAKA (Reuters) -Zambia should halt the search for a new investor in Konkola Copper Mines (KCM) until litigation with Vedanta Resources is settled, the Indian mining company said on Tuesday. Zambia’s previous government put KCM in the hands of a liquidator in May 2019, triggering the ongoing legal dispute with Vedanta Resources, KCM’s parent company. …
Vedanta urges Zambia to halt search for new KCM investor Read More »
By Ahmed Eljechtimi RABAT (Reuters) – Moroccan authorities have begun prosecuting 65 migrants who joined Friday’s mass attempt to cross into a Spanish enclave by storming a border post, leading to the death of at least 23 migrants, a judicial source said on Monday. About 2,000 migrants took part in the attempt, triggering violent skirmishes …
Morocco prosecutes 65 migrants involved in deadly Melilla incident Read More »
