JOHANNESBURG (Reuters) -The South African rand slipped on Friday and was on course for a weekly loss of almost 1% versus the dollar against a backdrop of global economic uncertainty linked to monetary policy tightening and the war in Ukraine. At 1515 GMT, the risk-sensitive rand traded at 16.1600 against the dollar, 0.4% weaker than …
South African rand weaker amid global economic uncertainty Read More »
JOHANNESBURG (Reuters) -South African utility Eskom said it would resume power cuts from 1700 to 2200 local time (1500 GMT to 2000 GMT) on Friday, but at a lower level than announced earlier in the day because of a recovery in generation capacity. Eskom will implement “Stage 1” scheduled outages, which require up to 1,000 …
South Africa’s Eskom to resume power cuts at lower level Read More »
LUSAKA (Reuters) – Zambia’s maize production dropped nearly 25% to 2.7 million tonnes in the 2021/2022 crop season from 3.6 million tonnes the previous season, state-owned ZNBC radio reported on Friday. Agriculture Minister Mtolo Phiri attributed the drop in production to a reduction in the area planted and lower yields, ZNBC radio said. Zambia was …
Zambia 2022 maize production drops 25% to 2.7 million tonnes Read More »
By Nelson Banya (Reuters) – South African sugar producer Tongaat Hulett Ltd’s Zimbabwean subsidiaries have suspended advance payments for cane deliveries after the Harare authorities told banks to stop lending, the company said on Thursday, exposing farmers to possible cashflow problems. Tongaat Hulett’s two Zimbabwe subsidiaries, the 50.3%-controlled Hippo Valley Estates Ltd and the wholly-owned …
Tongaat Hulett suspends Zimbabwe sugar cane pre-payments over lending freeze Read More »
FREETOWN (Reuters) – Sierra Leone will no longer provide foreign exchange for mining companies and other large businesses to import oil as of June 1, accusing them of “stockpiling diesel fuel”, its Petroleum Regulatory Agency said in a statement. Sierra Leone has a large mining industry, mainly based on diamonds, iron ore and mineral sands. …
Sierra Leone says will no longer provide forex for mining companies importing fuel Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s Reserve Bank is set to make its first 50 basis point hike to its repo rate in more than six years next week, taking it to 4.75%, to prevent potential second-round effects from higher consumer prices, a Reuters poll forecast on Friday. Despite a cost of living …
S.Africa’s central bank to hike by 50bps on May 19 for first time since 2016 Read More »
JOHANNESBURG (Reuters) – South African mobile operator MTN Group said on Friday first quarter pretax profit rose 21.1% year-on-year, supported by service revenue growth amid demand for data and financial services. MTN, with 276 million customers in 19 countries across Africa and the Middle East, said service revenue came in ahead of its medium-term target, …
South Africa’s MTN first-quarter pretax profit up 21% Read More »
JOHANNESBURG (Reuters) -The South African rand stabilised on Thursday, staying resilient despite a strong dollar, weak economic data and a pickup in local COVID-19 infections. At 1615 GMT, the rand traded at 16.1450 per dollar, around 0.1% weaker than its previous close. That was a modest decline given the dollar climbed to a new 20-year …
By Helen Reid CAPE TOWN (Reuters) -Arc Minerals shares jumped 6.7% on Thursday after it announced an agreement under which Anglo American would take majority control of the junior exploration firm’s Zambia copper-cobalt licences. Under the deal, which was first reported by Reuters, Anglo will take 70% of a joint venture with Arc that will …
Anglo American to return to Zambia with Arc Minerals copper deal Read More »
(Reuters) -ArcelorMittal South Africa Ltd’s share price was down 5.97% at 1500 GMT on Thursday on the Johannesburg Stock Exchange on the second day of a strike over wages, as workers picketed outside its factories. The National Union of Metalworkers of South Africa (NUMSA) began a strike at Africa’s biggest steel company on Wednesday, after …
S.Africa’s ArcelorMittal shares down 6% on second day of strike Read More »
