CAIRO (Reuters) – Egypt’s net foreign assets (NFAs) dropped by 169.7 billion Egyptian pounds ($9.17 billion) in March, the sharpest decline since the coronavirus crisis broke out in February 2020, central bank data showed on Sunday. NFAs fell to a negative 221.3 billion pounds at the end of March from a negative 51.69 billion pounds …
Egypt’s net foreign assets retreat further into the red in March Read More »
HARARE (Reuters) – Zimbabwe’s government on Saturday ordered banks to stop lending with immediate effect in a move Harare said was designed to stop speculation against the Zimbabwean dollar and was part of a raft of measures to arrest its rapid devaluation on the black market. The southern African country reintroduced a local currency in …
Zimbabwe suspends bank lending in bid to arrest currency decline Read More »
CAIRO (Reuters) – Egyptian non-oil private sector activity contracted in April, continuing a 17-month deterioration as the Ukraine crisis added to price increases, a survey showed on Sunday. The S&P Global Egypt Purchasing Managers’ Index improved to 46.9 from March’s 46.5, but still remained below the 50.0 threshold that separates growth from contraction. “Whilst easing …
Egypt private sector activity continues contraction on Ukraine war-PMI Read More »
(Corrects amount to more than 700,000 feddans in headline and para 1, corrects name of minister and adds name of official) CAIRO (Reuters) – Egypt has harvested more than 700,000 feddans of local wheat since the start of this harvest season on April 1, an Agriculture Ministry official told Reuters on Saturday. Egyptian Finance Minister …
Egypt has harvested more than 700,000 feddans of wheat this season -official Read More »
JOHANNESBURG (Reuters) – South Africa’s rand firmed a tad on Friday as the dollar fell after a mixed bag of signals from U.S. jobs data left investors guessing on the course of interest rate hikes amid surging inflation. At 1505 GMT, the rand was trading at 15.9400 against the dollar, 0.27% stronger than its previous …
S.Africa’s rand firms after mixed U.S. jobs data Read More »
JOHANNESBURG (Reuters) -South Africa’s rand firmed a tad on Friday as the dollar fell after a mixed bag of signals from U.S. jobs data left investors guessing on the course of interest rate hikes amid surging inflation. At 1505 GMT, the rand was trading at 15.9400 against the dollar, 0.27% stronger than its previous close. …
S.Africa’s rand firms after mixed U.S. jobs data Read More »
By Elias Biryabarema KAMPALA (Reuters) – Uganda’s central bank is considering whether to issue a digital currency and has not banned cryptocurrencies, but has concerns about risks from the technology including consumer protection and financial inclusion, a senior bank official said on Friday. “Bank of Uganda is currently doing preliminary studies on whether or not …
Uganda’s central bank weighs issuance of digital currency Read More »
By Chris Mfula LUSAKA (Reuters) -An orderly debt restructuring process for Zambia will be hard to achieve without an IMF programme, Finance Minister Situmbeko Musokotwane said on Friday, as he confirmed China and bondholders would join negotiations. Musokotwane told journalists he expected an International Monetary Fund programme to be concluded by the end of June, …
Zambia Finance Minister says IMF programme needed for orderly debt restructuring Read More »
TUNIS (Reuters) – Tunisia’s dinar currency has fallen to new record lows versus the dollar, central bank data showed on Friday. It traded at 3.101 against the dollar on Thursday. Last month the dinar changed hands at 3.074 for the first time, driven down by high inflation, a worsening trade deficit and the severe impact …
Tunisia’s dinar hits new record low versus dollar Read More »
By Alex Lawler, Julia Payne and Ron Bousso LONDON/LAGOS (Reuters) – Almost half the shortfall in planned oil supply by OPEC and its allies is down to Nigeria and Angola, data seen by Reuters shows, reflecting a number of factors including moves by Western oil majors away from African projects. OPEC and its allies, known …
Analysis-Nigeria and Angola responsible for almost half of OPEC+ oil supply gap Read More »
