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NAIROBI (Reuters) – Kenya’s shilling strengthened slightly on Thursday, and traders said they expected it to gain further ground in the days ahead, helped by dollar inflows from investors buying government bonds. At 0705 GMT, commercial banks quoted the shilling at 128.80/129.80 per dollar, compared with Wednesday’s closing rate of 129.00/130.00. (Reporting by George Obulutsa; …

Kenyan shilling firms slightly, traders see more gains ahead Read More »

NAIROBI (Reuters) – Kenya Electricity Generating Company posted on Thursday a jump in pretax profit for its half year to end December to 7.95 billion shillings ($61.63 million) from 4.83 billion shillings in the same period a year earlier. KenGen, which is 70% owned by the government, said in a statement its total revenue eased …

Kenya Electricity posts jump in first-half pretax profit Read More »

CAPE TOWN (Reuters) – Volkswagen’s African unit exported a record 131,485 Polos to European and Asia-Pacific markets in 2024, Europe’s biggest carmaker said on Wednesday. That was a big increase from the previous export record of 108,422 vehicles in 2019 from its manufacturing plant in Kariega in South Africa’s Eastern Cape province, Volkswagen Group Africa …

Volkswagen’s African unit makes record Polo exports to Europe, Asia Read More »

By George Obulutsa NAIROBI (Reuters) – Kenya’s central bank cut its main interest rate for the fourth meeting in a row on Wednesday, saying it wanted to do more to support lending and boost economic growth. The Central Bank Rate was lowered by 50 basis points to 10.75%, in line with the forecast of a …

Kenya central bank cuts key rate again to support lending Read More »

By Felix Njini and Clara Denina CAPE TOWN (Reuters) – Anglo American Platinum is seeing a high level of investor interest in the business as it prepares to spin off as an independent entity from its parent Anglo American, Amplats CEO Craig Miller said on Wednesday. The spinoff is part of the group’s restructuring strategy, …

Anglo Platinum CEO sees investor interest ahead of spinoff Read More »

ABUJA (Reuters) – Nigeria’s President Bola Tinubu has increased the size of the 2025 budget to 54.2 trillion naira ($36.4 billion) from 49 trillion naira, he said in a letter to the Senate published on Wednesday. The president said the increase was due to additional revenue from the government’s revenue collecting agencies, such as the …

Nigeria’s president increases 2025 budget to $36.4 billion Read More »

By Felix Njini CAPE TOWN (Reuters) – A new mining law in Mali that raises taxes and seeks to hand over big stakes in assets to the state and local investors will need to be loosened up if gold companies are to invest in new projects there, company CEOs told Reuters. The new rules compel …

Mali’s new mines law needs review to win back investors, gold mine CEOs say Read More »