(Reuters) -South African business confidence slipped a point further sequentially in the third quarter of 2025, weighed down by hefty U.S. tariffs on the country’s exports, a survey showed on Wednesday. Business confidence fell to 39 points, three points below the long-term average level of 42, according to a survey by the Rand Merchant Bank …
By Isaac Anyaogu LAGOS (Reuters) -Nigeria’s production-sharing contract with TotalEnergies, its first guided by a new law designed to boost the OPEC member’s gas production, will serve as a template for future deals, the oil regulator told Reuters on Wednesday. The country’s Petroleum Industry Act adopted in 2021 recognised the distinct economics of oil and …
Nigeria’s TotalEnergies deal marks shift to gas development Read More »
ACCRA (Reuters) -Ghana’s annual inflation rate slowed for the eighth month in a row in August, reaching its lowest level since October 2021, the statistics service said on Wednesday. Consumer inflation fell to 11.5% year on year from 12.1% in July. Government statistician Alhassan Iddrisu told a press conference that both food and non-food prices …
Ghana’s inflation slows for eighth straight month in August Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -Shoprite Holdings, South Africa’s largest supermarket chain, has largely completed the consolidation of its operations across Africa, but Mozambique is on the list of countries that might be reviewed, the CEO told Reuters on Tuesday. The retailer had expanded extensively in Africa, surpassing rivals such as Pick n Pay and …
Shoprite nears Africa consolidation finish line, with Mozambique under possible review Read More »
NAIROBI (Reuters) -Kenya’s private sector activity contracted in August but at a slower pace than the previous month, with improved performance in the manufacturing and wholesale and retail sectors cushioning that of agriculture, construction and services, a survey showed on Wednesday. The Stanbic Bank Kenya Purchasing Managers’ Index rose to 49.4 in August from 46.8 …
Kenya’s private sector activity contracts at slower pace in August, PMI survey shows Read More »
By Lawrence Delevingne and Alun John (Reuters) -Global stocks fell and long-dated bond yields in Europe hit multiyear highs on Tuesday as investors grew increasingly worried about the state of finances in countries around the world, while the dollar gained, and gold touched a fresh record high. A divided U.S. appeals court ruled on Friday …
Fiscal jitters push US stocks down, European bond yields up to multiyear highs Read More »
KAMPALA (Reuters) -Uganda is negotiating a new round of funding with the International Monetary Fund after a previous one lapsed last year, a top Ugandan finance ministry official said on Tuesday. The East African country’s previous Extended Credit Facility, which commenced in 2021 and was worth about $1 billion, expired last year with only about …
Uganda says it is negotiating a new funding round with the IMF Read More »
JOHANNESBURG (Reuters) -The South African rand fell on Tuesday against a much stronger dollar as investors awaited key U.S. data that could influence the Federal Reserve’s interest rate decision this month. At 1314 GMT, the rand traded at 17.7350 against the dollar, about 0.6% weaker than Monday’s close. The dollar last traded 0.8% firmer against …
South African rand falls as dollar gains ahead of key US data Read More »
JOHANNESBURG (Reuters) -Shoprite Holdings, South Africa’s biggest supermarket retailer, reported a 15.8% rise in full-year earnings on Tuesday, as customers stocked up on food during the festive and Easter seasons. Shoprite said diluted headline earnings per share from continuing operations rose to 13.67 rand in the year through June 29, up from a restated 11.80 …
South African retailer Shoprite earnings rise on festive, Easter demand Read More »
(Reuters) -South Africa’s Barloworld said on Tuesday its investigation into U.S. export control regulations found “apparent violations” by the company, which it is addressing through undisclosed actions. The probe, however, cleared the company of any breaches of U.S. sanctions. Barloworld said it has submitted the final report to U.S. authorities and concluded the investigation, meeting …
S.Africa’s Barloworld finds ‘apparent violations’ of US export controls after probe Read More »
