Reuters Africa Business

Shares gain, bond yields fall as tame US inflation boosts Fed rate cut hopes

11 Sep 2025

By Sinéad Carew and Jaspreet Kalra NEW YORK (Reuters) – MSCI’s global stock index advanced on Wednesday, hitting a record high, while Treasury yields touched their lowest level since April after softer-than-expected U.S. inflation data boosted hopes for Federal Reserve interest rate cuts. Geopolitical uncertainty boosted oil prices and kept gold near a record high …

Shares gain, bond yields fall as tame US inflation boosts Fed rate cut hopes Read More »

Zambia court orders Standard Chartered to pay costs not compensation over China property bond sale

10 Sep 2025

By Marc Jones and Chris Mfula LONDON/LUSAKA (Reuters) -Zambia’s high court has ruled that Standard Chartered does not have to pay $500,000 compensation to a former client it sold a now-defaulted Chinese property bond to at the height of the Asian country’s real-estate crisis. The court judgement, dated September 8, ruled the bank had not …

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Oil prices settle up over $1 after global tensions mount; oversupply caps gains

10 Sep 2025

By Arathy Somasekhar HOUSTON (Reuters) – Oil prices settled higher on Wednesday by more than $1 a barrel as investors worried about possible supply disruptions after Poland downed drones in its airspace and the U.S. pushed for new sanctions on buyers of Russian oil the day after an Israeli attack in Qatar, but a report showing …

Oil prices settle up over $1 after global tensions mount; oversupply caps gains Read More »

South Africa in talks with Chinese automakers to boost local production

10 Sep 2025

By Sfundo Parakozov JOHANNESBURG (Reuters) -South Africa is in talks with Chinese automakers to encourage them to invest in local production, with one manufacturer showing strong interest in building cars locally, a senior government official said on Wednesday. Africa’s most developed car manufacturing hub is at an inflection point, with a drop in domestic output …

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Nigeria’s power grid suffers outage, restoration underway, operator says

10 Sep 2025

By Camillus Eboh ABUJA (Reuters) -Nigeria’s national power grid collapsed on Wednesday after a generator tripped, triggering a cascade of failures across the system, the state-backed Independent System Operator (NISO) said. The outage occurred at 1020 GMT and caused a huge drop in load, NISO said in a statement. The operator began restoring supply, starting …

Nigeria’s power grid suffers outage, restoration underway, operator says Read More »

Botswana launches new wealth fund to drive diversification and create jobs

10 Sep 2025

GABORONE (Reuters) -Botswana has set up a new sovereign wealth fund to drive economic diversification, create jobs and manage state companies, officials said on Wednesday. The Southern African country, long viewed as an African economic success story, is in a slump because of a prolonged downturn in the global market for diamonds, its key export. …

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Botswana launches new wealth fund to drive diversification and create jobs

10 Sep 2025

GABORONE (Reuters) -Botswana has set up a new sovereign wealth fund to drive economic diversification, create jobs and manage state companies, officials said on Wednesday. The Southern African country, long viewed as an African economic success story, is in a slump because of a prolonged downturn in the global market for diamonds, its key export. …

Botswana launches new wealth fund to drive diversification and create jobs Read More »

Factbox-Main candidates in Malawi’s presidential election

10 Sep 2025

BLANTYRE (Reuters) -Malawi holds a presidential election on September 16, when voters will also cast ballots for members of parliament and local councillors. The donor-dependent Southern African country is one of the poorest in the world, and it has been hit hard by natural disasters since the last election five years ago. Below are some …

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Ghana’s economy grows 6.3% in Q2 2025, driven by services sector

10 Sep 2025

ACCRA (Reuters) – Ghana’s economy expanded by 6.3% year-on-year in the second quarter of 2025, up from a revised 5.7% in the same period last year, with strong growth in the services sector, the country’s statistics agency said on Wednesday. The services sector, encompassing finance, insurance, trade, and education, surged by 9.9% in the quarter …

Ghana’s economy grows 6.3% in Q2 2025, driven by services sector Read More »

Egypt’s annual urban consumer price inflation slows to 12% in August from 13.9% in July

10 Sep 2025

(Reuters) -Egypt’s annual urban consumer price inflation slowed to 12% in August from 13.9% in July, data from statistics agency CAPMAS showed on Wednesday, coming in below expectations in a Reuters poll. The median forecast of 13 analysts polled by Reuters was for annual urban consumer inflation to have eased to 12.7% from 13.9% in …

Egypt’s annual urban consumer price inflation slows to 12% in August from 13.9% in July Read More »

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