(Reuters) -The South African rand strengthened on Monday, as investors globally welcomed signs of an easing of restrictions by China, ahead of a busy policy-focused week in which a European Central Bank meeting and U.S. consumer price data are scheduled. At 1556 GMT, the rand traded at 15.4075 against the dollar, about 0.85% stronger than …
South African rand firms as global sentiment improves Read More »
CAIRO (Reuters) – Non-oil private sector activity in Egypt contracted for an 18th month in May as the Ukraine crisis, import restrictions and a devalued currency put pressure on prices, a survey showed on Sunday. The S&P Global Egypt Purchasing Managers’ Index strengthened to 47.0 from April’s 46.9, but still remained below the 50.0 threshold …
Egypt private sector activity extends contraction in May as inflation weighs-PMI Read More »
ABIDJAN (Reuters) – Ivorian economist Jean-Claude Brou, president of West Africa’s main political bloc, has been nominated by Ivory Coast President Alassane Ouattara to be governor of the regional central bank, a source familiar with the matter said. Brou has served as president of the Economic Community of West African States (ECOWAS) commission since 2018. …
Ivorian economist Brou nominated West Africa central bank governor Read More »
By Stanis Bujakera and Aaron Ross KINSHASA (Reuters) – More than $400 million in tax advances and loans that Democratic Republic of Congo’s state mining company Gecamines said it paid to the national treasury cannot be found, according to a report by the government’s public finances watchdog. State miner Gecamines holds minority stakes in several …
Congo auditor says $400 million went missing from state mining company Read More »
(Reuters) – South Africa’s rand fell on Friday as the dollar rose after a better than expected U.S. employment report that could encourage the Federal Reserve to keep going with its rate rises. At 1618 GMT, the rand traded at 15.5750 against the dollar, about 0.8% weaker than its previous close. The dollar index, which …
South African rand weaker after U.S. jobs report boosts dollar Read More »
(Reuters) -South African precious metals miner Sibanye Stillwater said on Friday that trade unions leading a strike at its gold operations had a mandate from their members to accept a three-year wage deal. Members of the National Union of Mineworkers (NUM) and Association of Mineworkers and Construction Union have been on strike at Sibanye’s gold …
Three month strike set to end at Sibanye as miners back deal Read More »
(Reuters) -South Africa’s rand fell on Friday as the dollar rose after a better than expected U.S. employment report that could encourage the Federal Reserve to keep going with its rate rises. At 1618 GMT, the rand traded at 15.5750 against the dollar, about 0.8% weaker than its previous close. The dollar index, which measures …
South African rand weaker after U.S. jobs report boosts dollar Read More »
TUNIS (Reuters) – Tunisia’s foreign currency reserves rose to 24.4 billion dinars ($8.1 billion) in the first five months this year, compared to 21.6 billion dinars in the same period last year, driven by growth of remittances from workers abroad and the tourism sector. Remittances increased by 15% during the first five months of 2022, …
Tunisia’s foreign currency reserves rise to about $8 billion Read More »
By Christian Akorlie ACCRA (Reuters) -Ghana’s gold production fell 30% last year to its lowest in more than a decade, knocking the country off its spot as Africa’s top producer, the president of the mines chamber said on Friday, blaming a taxation change and operational challenges. He predicted production should strengthen this year as the …
Ghana loses gold top spot as 2021 output falls to 13-year low Read More »
DAKAR (Reuters) -Senegal will receive 115 million euros ($123 million) in financing from the Islamic Development Bank to secure petroleum products as it faces fuel shortages, the economy minister said on Friday. “We are in a global context where there is a significant spike in petroleum products,” said Senegalese minister Amadou Hott on the sidelines …
Senegal to get 115 million euros from Islamic Development Bank for petroleum products Read More »
