NAIROBI (Reuters) – Kenya is still expected to issue a second Eurobond this fiscal year, Finance Minister Ukur Yatani said on Tuesday. “We want to be predictable,” he told reporters. Last week, a document from his ministry had said Kenya was likely not to issue the bond planned for the 2021/22 (July-June) financial year due …
Kenya will still issue second eurobond this fiscal year – Finance Minister Read More »
JOHANNESBURG (Reuters) – South African private sector activity expanded at a slower rate in April as power cuts and floods in KwaZulu-Natal province weighed on output and new orders, a survey showed on Thursday. The S&P Global South Africa Purchasing Managers’ Index (PMI) fell to 50.3 in April from 51.4 in March, dropping to its …
Floods, power cuts weigh on South African factory activity in April – PMI Read More »
ABUJA (Reuters) – Nigeria expects MTN and Mafab Communication to roll out 5G services in Africa’s most populous nation over the next three months after it awarded licences to them, the telecoms regulator said on Wednesday. The Nigerian Communications Commission (NCC) issued 5G licences to MTN Nigeria, the west African nation’s biggest mobile telecoms company, …
Nigeria expects MTN, Mafab to rollout 5G services from August Read More »
JOHANNESBURG (Reuters) -The South African rand weakened against the dollar on Wednesday, as investors waited for cues from the U.S. Federal Reserve on its interest rate hike trajectory later in the day. At 1538 GMT, the rand traded at 15.8100 against the dollar, 0.3% weaker from its previous close. The Fed is expected to announce …
South Africa’s rand weakens as markets await Fed meet outcome Read More »
By Rachel Savage LONDON (Reuters) – Inflation in South Africa is set to rise to 8% this year, overshooting the central bank’s target amid the global impact of the Ukraine conflict and rising U.S. interest rates, credit rating agency Moody’s forecast in a report on Wednesday. Moody’s said inflation was set to be higher than …
Moody’s expects South Africa’s inflation to hit 8% in 2022 Read More »
FRANKFURT (Reuters) – Germany’s Allianz and South Africa’s Sanlam have agreed to combine operations across Africa, the companies announced on Wednesday. Sanlam last year disclosed it was exploring “strategic alternatives” with Allianz. The group will operate in 29 countries and have an equity value of 33 billion South African rand, or around 2 billion euros, …
Allianz and Sanlam to create Africa joint venture Read More »
NAIROBI (Reuters) – Kenya’s shilling was steady on Wednesday and traders said they expected it to weaken due to increased importer dollar demand, especially from fuel companies. At 0701 GMT, commercial banks quoted the shilling at 115.75/95 per dollar, compared with 115.70/90 at last Thursday’s close. Kenyan markets were closed for public holidays between April …
Kenyan shilling stable, expected to ease due to increased importer demand Read More »
By Julia Payne LAGOS (Reuters) -Nigeria had to buy emergency supplies of Canadian potash in April after the country was unable to import the key fertilizer from Russia due to the impact of Western sanctions, the head of Nigeria’s sovereign investment authority NSIA said. Uche Orji, the head of NSIA, declined to comment on prices. …
Exclusive-Nigeria buys emergency Canadian potash to replace lost Russian supply Read More »
JOHANNESBURG (Reuters) -South Africa’s rand regained some strength against the dollar on Tuesday, though the unit hovered near its weakest levels in nearly four months amid an elevated greenback and an imminent interest rate hike by the U.S. Federal Reserve. At 1600 GMT, the rand traded at 15.8100 against the dollar, up 1.74% from its …
S.Africa’s rand gains on Tuesday but eyes on U.S. Fed interest rate decision Read More »
By Promit Mukherjee and Emma Rumney JOHANNESBURG (Reuters) – Coca-Cola’s estimated $3 billion initial public offering (IPO) for its African bottling unit will likely take place in the third quarter after market turmoil linked to the war in Ukraine upset plans to list earlier, three sources said on Tuesday. The flotation of Coca-Cola Beverages Africa …
Exclusive-Coca-Cola African bottler’s $3 billion IPO delayed by Ukraine turmoil Read More »
