Reuters Africa Business

South African rand little changed after local producer inflation figures

28 Aug 2025

JOHANNESBURG (Reuters) -The South African rand was little moved on Thursday after the release of higher-than-expected domestic producer inflation figures. At 1045 GMT the rand traded at 17.6625 against the dollar, near Wednesday’s closing level. South Africa’s statistics agency data earlier showed that producer inflation was at 1.5% year on year in July, up from …

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Impala CEO warns against flooding market as platinum prices rebound

28 Aug 2025

By Nelson Banya (Reuters) -South Africa’s Impala Platinum is cautious about bringing new production on stream and releasing excess stockpiles to the market despite the recent rebound in platinum prices, Chief Executive Officer Nico Muller said on Thursday. The world’s second-biggest platinum group metal (PGM) producer on Thursday posted headline earnings of 732 million rand …

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Nigeria’s Dangote and Ethiopia to build $2.5 billion fertiliser plant

28 Aug 2025

ADDIS ABABA (Reuters) -Ethiopia has signed an agreement with Nigeria’s Dangote Group to build a $2.5 billion fertiliser manufacturing plant, Prime Minister Abiy Ahmed said on Thursday in a post on social media platform X. The investment is part of Nigerian billionaire Aliko Dangote’s efforts to end Africa’s fertiliser imports. To be located in Gode …

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Dollar clings to gains with focus on Fed policy as French politics cloud euro

27 Aug 2025

(Fixes typo) By Laura Matthews NEW YORK (Reuters) -The dollar clung to gains against the euro and the yen on Wednesday, paring much of the strength made earlier in the day as investors focused on upcoming U.S. economic data for policy cues, even as worries persist over the Federal Reserve’s independence. The euro touched its weakest …

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KoBold Metals granted seven Congo lithium exploration permits

27 Aug 2025

(Reuters) -KoBold Metals, the mining company backed by U.S. billionaires Jeff Bezos and Bill Gates, has received seven permits to search for lithium and other minerals in the Democratic Republic of Congo, it said on Wednesday. The Central African country signed a deal with KoBold in July, allowing the U.S. miner to initiate a large-scale …

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Egypt signs $220 million solar project with UAE, China and Bahrain

27 Aug 2025

CAIRO (Reuters) -Egypt signed a $220 million contract on Wednesday with investors from the United Arab Emirates, Bahrain and China to build an integrated complex for producing solar cells, panels and energy storage systems in the Suez Canal Economic Zone, the cabinet said. It said the facility would have the capacity to produce 2 gigawatts …

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IMF talks on Senegal’s debt misreporting to take ‘a few more weeks’

27 Aug 2025

By Portia Crowe and Libby George DAKAR (Reuters) -The International Monetary Fund needs a few more weeks of talks with Senegal before the lender can consider a waiver that would allow it to disburse more funds to the nation, it said after a week-long visit to the country. The IMF suspended Senegal’s $1.9 billion lending …

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Portugal’s Mota-Engil profit rises 20% to record driven by African projects

27 Aug 2025

LISBON (Reuters) -Portugal’s largest construction company Mota-Engil said on Wednesday strong sales in Africa helped drive a 20% rise in net profit in the first half to an all-time high. The builder, which operates in more than 20 countries in Africa, Europe and Latin America, posted a net profit of 59 million euros ($69.07 million) …

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South Africa’s Bidcorp reports 6.5% rise in full-year earnings

27 Aug 2025

JOHANNESBURG (Reuters) -South African food services company Bid Corporation (BidCorp) reported a 6.5 % rise in full-year earnings despite a challenging and uncertain trading environment, it said on Wednesday. The company, which operates in Australasia, Europe and emerging markets such as China and the Middle East, said its headline earnings per share rose to 2,562.7 …

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