By Ron Bousso LONDON (Reuters) – Shell and its partners have made what the oil major described as an “encouraging” discovery in a closely-watched exploration well off the coast of Namibia, which could spark a wave of investment in the south African country. Shell said in a statement that results from the deep water Graff-1 …
Shell makes ‘encouraging’ oil discovery offshore Namibia Read More »
NAIROBI (Reuters) – Kenya’s first mortgage refinancing company is selling a 10.5 billion shilling ($93 million) medium term note, whose proceeds will be lent out to commercial banks to increase affordable home ownership, the company said on Friday. President Uhuru Kenyatta pledged to boost housing ownership levels upon re-election in 2017. He set a goal …
Kenya Mortgage Refinance starts selling first bond to boost home ownership Read More »
ZURICH (Reuters) – Credit Suisse has signed a deal with Barclays to take on rich clients in parts of Africa after it decided to exit wealth management in nine countries, the Swiss bank said on Friday, confirming an earlier Bloomberg report. “Credit Suisse has signed a private banking client referral agreement with Barclays as part …
Credit Suisse refers some African wealth management clients to Barclays Read More »
JOHANNESBURG (Reuters) – The Johannesburg Stock Exchange (JSE) has suspended South African state-owned defence company Denel’s bonds after it failed to submit financial results within the required timeframe. The suspension means investors cannot trade Denel’s bonds on the JSE’s secondary market nor can Denel sell more debt on the primary market. It marks the latest …
South African defence firm Denel’s bonds suspended from local exchange Read More »
JOHANNESBURG (Reuters) -South African stocks snapped a three-day winning streak on Thursday as weak commodity prices dragged the sector, while the Bank of England’s interest rate hike hit global risk appetite. The benchmark all-share index fell 0.22% to 75,021 points and the blue-chip index of top 40 companies ended down 0.28% at 68,461 points. The …
South Africa’s stocks snap 3-day winning streak in risk-off trade Read More »
JOHANNESBURG (Reuters) -South Africa’s labour ministry on Thursday urged Rio Tinto workers to report instances of discrimination after the Anglo-Australian miner released an internal report detailing sexual assault, racism, and bullying across its mines. The report https://www.reuters.com/business/rio-tinto-report-finds-disturbing-culture-sexual-harassment-racism-bullying-2022-02-01, which sparked calls from investors for the entire industry to clean up its act, found that male and …
South Africa urges Rio Tinto workers to report cases of discrimination Read More »
LILONGWE (Reuters) – Malawi’s 2022 GDP is estimated to grow by 4.1%, from 3% in 2021, as a result of measures to encourage economic recovery and fight corruption, President Lazarus Chakwera said in a state of the nation address to Parliament on Thursday. Chakwera, who last month fired three cabinet ministers over corruption allegations, however, …
Malawi’s president says GDP to grow 4.1%, expects low interest rates Read More »
(Reuters) – Algeria’s central bank has authorized the country’s lenders to open foreign currency accounts, state news agency APS said on Thursday, citing a central bank circular. Among conditions made to open a foreign currency account, the circular mentioned a requirement that its credit balance should always be positive. (Reporting by Maher Chmaytelli; Editing by …
Algeria central bank authorizes foreign currency bank accounts – APS Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South African value clothing and furniture retailer Pepkor has bought a majority stake in Brazilian retailer Grupo Avenida S.A. from its private equity and family owners, marking its first foray into South America. Pepkor, majority owned by Steinhoff International, did not give an exact price for the 87% stake in …
S.Africa’s Pepkor buys Avenida to expand into Brazil Read More »
By Tarek Amara TUNIS (Reuters) – Tunisia’s central bank held its key interest rate steady at 6.25% on Thursday, and expressed concern about the delay in securing foreign funding for the state budget for this year. Tunisia, which is suffering its worst financial crisis, is in talks with the International Monetary Fund to obtain a …
Tunisia’s cbank keeps key rate unchanged, worried about delay in foreign funding Read More »
