CAPE TOWN (Reuters) – Astron Energy, a unit of global commodity trader Glencore, will invest up to six billion rand ($328 million) to install new equipment and become compliant with South Africa’s cleaner fuel specifications ahead of a 2027 deadline, the company said on Wednesday. The foundations have already been laid at the 100,000 barrels …
Glencore’s South African refinery invests in cleaner fuels Read More »
JOHANNESBURG (Reuters) -South Africa’s rand was stable on Wednesday, as investors awaited U.S. President Donald Trump’s reciprocal tariff plans, which they fear will cause an economic slowdown in the world’s biggest economy. At 1321 GMT, the rand traded at 18.2750 against the U.S. dollar, near its Tuesday closing level of 18.2800. The dollar was last …
South African rand stable as markets eye Trump’s tariff plans Read More »
By Tiemoko Diallo BAMAKO (Reuters) – Mali is forecasting a slight recovery in industrial gold output in 2025 on the assumption that mining giant Barrick Gold will resume operations after a months-long standoff with the government, a document seen by Reuters on Wednesday showed. Production is expected to reach 54.7 metric tons of gold, according …
Mali expects rise in gold output in 2025 on reopened Barrick operations Read More »
LONDON (Reuters) – Sanctions-hit Belarusian flag carrier Belavia is on the cusp of adding three Airbus planes to its depleted fleet after repurposing aircraft that had previously belonged to Gambian airline Magic Air , three people familiar with the matter told Reuters. Western sanctions imposed on Belarus and its larger neighbour Russia after Minsk forced …
Sanctions-hit Belarus looks to Gambia to boost its depleted air fleet Read More »
NAIROBI (Reuters) – The Kenyan shilling was stable on Wednesday, supported by foreign-currency inflows from the diaspora and tea exports, traders said. At 0915 GMT, commercial banks quoted the shilling at 129.10/129.60 to the U.S. dollar, the same level as at the close of Tuesday’s session, LSEG data showed. (Reporting by Hereward Holland; Editing by …
Kenyan shilling flat, supported by FX inflows from the diaspora and tea exports Read More »
KAMPALA (Reuters) – The Ugandan shilling was largely stable on Wednesday, with some hard currency inflows from commodity exports like coffee, cocoa and others providing support, traders said. At 0840 GMT commercial banks quoted the shilling at 3,661/3,671, compared to Tuesday’s close of 3,660/3,670. (Reporting by Elias Biryabarema; Editing by Hereward Holland)
JOHANNESBURG (Reuters) – MTN Group and Airtel Africa have struck a deal to share mobile phone network infrastructure in Uganda and Nigeria, they said on Wednesday, aiming to save on investments while still increasing service coverage. Mobile operators in Africa are seeing sustained demand for digital and financial services, but building and maintaining networks are …
MTN Group and Airtel Africa agree to share networks in Uganda and Nigeria Read More »
CAIRO (Reuters) -Egypt’s GDP growth rate increased to 4.3% in the second quarter of its 2024/25 year compared with 2.3% in the same period a year earlier, the planning ministry said on Wednesday. GDP grew along with total investments, though public investments were below 40% of the total. Several sectors supported growth, including non-oil manufacturing …
Egypt’s GDP growth at 4.3% in second quarter vs 2.3% a year earlier Read More »
KAMPALA (Reuters) – The volume of Uganda’s coffee exports rose 27.9% in February, compared to the same month a year ago, as high prices pushed traders to release larger quantities from their inventories, the agriculture ministry has said. Uganda is Africa’s largest coffee exporter followed by Ethiopia, and primarily cultivates the robusta variety. In February, …
Uganda’s February coffee exports jump 28% y/y on high prices Read More »
By Kumar Tanishk (Reuters) – Shares of Australia’s Paladin Energy slid on Wednesday to their lowest point in nearly two years after the uranium miner withdrew its production forecast for fiscal 2025, citing operational disruption at its flagship mine in Namibia. The temporary operational halt at Langer Heinrich Mine (LHM) was caused by a “one-in-fifty-year …
Uranium miner Paladin Energy at nearly 2-year low after production outlook withdrawal Read More »
