LUSAKA (Reuters) – Zambia’s decision three years ago to take control of a copper mine in the country’s north will be subject to an arbitration hearing in January in London, the country’s mines minister said on Wednesday, amid a lengthy dispute over the mine’s ownership. Zambia in May 2019 handed control of Konkola Copper Mines …
Arbitration hearing set for January in Vedanta-Zambia dispute Read More »
By Miguel Gomes LUANDA (Reuters) – The initial public offering (IPO) of a 10% stake in Angola’s largest private bank BAI, seen as a test case in a far-reaching privatisation push, has been priced at the top of an indicated range, BAI said on Wednesday. The southern African country is trying to modernise its economy …
Test-case Angolan bank IPO prices at top of range Read More »
(Reuters) – South Africa’s Land Bank is working on a new debt restructuring plan that it hopes will be finalised by the end of September, the National Treasury said on Wednesday. The state-owned agricultural bank defaulted on its debt in April 2020 and missed a restructuring deadline in March 2021. It has so far failed …
South Africa’s Land Bank aims for debt solution by end-Sept Read More »
(Corrects fourth paragraph to show Ivory Coast premium is minus, not positive, 125 pounds, and fifth paragraph to show Ghanaian beans are of higher quality) ABIDJAN (Reuters) – Ivory Coast and Ghana on Tuesday jointly published for the first time the premium for the coming month that chocolate-makers and cocoa merchants will pay for their …
Ivory Coast, Ghana publish origin differentials for June cocoa Read More »
LONDON (Reuters) -The International Cocoa Organization (ICCO) on Wednesday forecast a 174,000 tonne global cocoa deficit in the current 2021/22 season (October-September), down slightly from a previous projection of 181,000 tonnes. The inter-governmental body, in a quarterly update, cut its outlook for global cocoa grindings in 2021/22 by 38,000 tonnes to 5.05 million tonnes, now …
ICCO expects 2021/22 global cocoa deficit of 174,000 T Read More »
(Reuters) – South African manufacturing activity expanded at a faster pace in May, as new sales orders recovered following the floods in the KwaZulu-Natal province in April, a survey showed on Wednesday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) rose to 54.8 points in May from 50.7 points in April, remaining above the 50-point mark …
South Africa factory activity expands at faster pace in May – Absa PMI Read More »
NAIROBI (Reuters) – Kenya’s finance minister has asked parliament to let the East African economy raise its debt ceiling to 10 trillion shillings ($85.69 billion) from 9 trillion, two newspapers said on Wednesday. The Business Daily and the Daily Nation said National Treasury Cabinet Secretary Ukur Yatani had asked parliament to change the public finance …
Kenyan finance minister seeks to raise debt ceiling -media Read More »
JOHANNESBURG (Reuters) -The South African rand slipped on Tuesday, as the dollar bounced back supported by demand for safe havens over ongoing inflation concerns. At 1549 GMT, the rand traded at 15.6050 against the dollar, 0.89% weaker than its previous close. The dollar index strengthened as Treasury yields climbed and worries over a further acceleration …
South Africa’s rand weaker as dollar recovers, markets up slightly Read More »
CAIRO (Reuters) -Egypt’s M2 money supply rose by 23.7% year-on-year in April, data from the central bank showed on Tuesday. Egypt’s net foreign assets (NFAs) meanwhile dropped by 14.8 billion Egyptian pounds in April, marking a slowdown in the outflow of funds that began in October. Money supply stood at 6.41 trillion pounds ($345.93 billion), …
Egypt’s M2 money supply climbs 23.7% in year to April, NFAs fall Read More »
By Helen Reid JOHANNESBURG (Reuters) -Mining and commodity trading giant Glencore has helped to fund Zambia’s Mopani Copper Mines as the company has been unable to pay its bills on time and the state has yet to find a new investor more than a year after it took over the complex. Glencore, which sold Mopani …
Exclusive-Glencore helps Zambia’s Mopani Copper Mines pay bills Read More »
