JOHANNESBURG (Reuters) -The South African rand firmed in afternoon trade on Tuesday as power utility Eskom suspended its latest power cuts, with market focus also fixed on U.S. inflation data due later in the week that could unleash bets on faster interest rate hikes there. At 1445 GMT, the rand traded at 15.4100 against the …
South African rand recovers, focus on U.S. inflation Read More »
ACCRA (Reuters) -The Spanish company in charge of a truck that exploded and killed 13 people last month en route to an internationally-run gold mine in Ghana violated storage and transport laws and has been fined $6 million, the lands ministry said on Tuesday. The truck was transporting explosives owned by Madrid-based Maxam Corp to …
Spanish firm fined $6 million for Ghana truck blast that killed 13 Read More »
By Ange Aboa ABIDJAN (Reuters) – Ghana’s graded and sealed (G&S) cocoa arrivals stood at 383,000 tonnes by Jan. 27 since the start of this year’s harvest on Oct. 1, down 44% from 681,000 tonnes in same period the last season, figures from marketing board COCOBOD showed on Tuesday. G&S is cocoa that has been …
Ghana 2021/22 cocoa arrivals down 44% from same period last year – COCOBOD Read More »
LAGOS (Reuters) – Nigeria should remove untargeted fuel subsidies and channel resources to the poor, the International Monetary Fund said on Monday, warning that the budget deficit was expected to widen in 2021 despite a recovery in international crude prices. With an election set for next year, Nigeria’s government last month rowed back on a …
IMF urges Nigeria to scrap fuel subsidies, target poor with support Read More »
(Changes headline to read 102 times covered and not 102% covered) CAIRO (Reuters) -Egypt’s Macro Group Pharmaceuticals covered a 1.3 billion Egyptian pound ($83 million) retail portion of an initial public offering by 102 times at its close on Monday, according to Egyptian stock exchange data. Macro Group, a pharmaceuticals and cosmetics company founded in …
Egypt’s Macro Group retail portion of IPO 102 times covered Read More »
JOHANNESBURG (Reuters) -The South African rand weakened against a stronger dollar in afternoon trade on Monday, as domestic headwinds also weighed with power utility Eskom announcing the resumption of schuduled power cuts barely hours after suspending the outages. At 1500 GMT, the rand traded at 15.5050 against the dollar, 0.39% weaker than its previous close. …
By Wendell Roelf and Ron Bousso CAPE TOWN (Reuters) – Namibia aims to fast track the development of its first oilfield to have production by 2026 following a significant offshore discovery by Shell, a senior energy official told Reuters on Monday. Shell on Friday said the exploration well off the coast of the southern African …
Namibia aims for first-ever oil output by 2026 after Shell discovery Read More »
HARARE (Reuters) – Zimbabwe registered $9.7 billion of foreign currency inflows in 2021, a national record driven by high commodity prices and international remittances, the central bank said on Monday. The southern African country’s economy is battling to recover from years of hyperinflation and mismanagement. The government expects the economy to grow by 5.5% this …
Zimbabwe 2021 forex inflows hit record, inflation fears remain – cbank Read More »
By Loucoumane Coulibaly ABIDJAN (Reuters) – Dry weather for three straight weeks in most of Ivory Coast’s cocoa regions has damaged the quality of beans and threatens to reduce the size of the April-to-September mid-crop, farmers said on Monday. Ivory Coast, the world’s top cocoa producer, is in its dry season from mid-November to March. …
Ivory Coast cocoa bean quality hit by dry weather, farmers say Read More »
(Fixes typo in paragraph 2) ACCRA (Reuters) -Ghana’s finance ministry said that Moody’s decision to downgrade its credit rating was made by omitting key information and revealed an institutional bias against African economies. Rating agency Moody’s downgraded Ghana from B3 to CAA1 on Friday, citing the “increasingly difficult task government faces in addressing the intertwined …
After Moody’s cut, Ghana finance ministry says ratings agencies biased against Africa Read More »
