JOHANNESBURG (Reuters) – South African fashion retailer Truworths warned on Friday that its half-year profit will fall by up to 8%, mainly due to a decline in sales and gross profit margin in its Africa business. The upmarket retailer has seen a decrease in profit over the past year as customers, squeezed by high interest …
Fashion retailer Truworths flags profit decline on lower sales in Africa unit Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices edged up on Thursday, held in check by threatened U.S. tariffs on Canadian and Mexican crude imports that could take effect this weekend. Brent crude futures settled 29 cents, or 0.4%, higher at $76.87 a barrel. U.S. crude futures finished at $72.73 a barrel, up 11 cents, or …
CAPE TOWN (Reuters) – Canada’s Reconnaissance Energy Africa (ReconAfrica) has found indications of oil at its Naingopo onshore exploration well and will look to accelerate drilling in the region, its chief executive said on Thursday. Exploring close to the environmentally sensitive Okavango Delta in Namibia, ReconAfrica has faced years of criticism from Namibian environmentalists and …
Canada’s ReconAfrica finds oil traces in onshore Naingopo well Read More »
JOHANNESBURG (Reuters) -South Africa’s rand gained on Thursday after data showed U.S. economic growth slowed in the fourth quarter, while the South African Reserve Bank cut its main lending rate for the third time in a row. At 1801 GMT, the rand traded at 18.4525 against the U.S. dollar, about 0.7% stronger than its previous …
South African rand climbs after rate cut, US growth data Read More »
CAPE TOWN (Reuters) -South Africa’s energy regulator on Thursday granted state power utility Eskom an average tariff increase of 12.7% for 2025/26, a third of what the debt-laden company had requested. Eskom had sought increases of about 36% from April, 12% in 2026 and 9% in 2027, prompting opposition in public consultations, with political parties …
Eskom tariffs to rise by lower than requested 12.7% Read More »
By Bhargav Acharya, Kopano Gumbi and Tannur Anders PRETORIA (Reuters) -South Africa’s central bank trimmed its main lending rate as expected on Thursday, its third cut in a row, but it placed emphasis on the uncertain global backdrop and said it had modelled the potential impact of a trade war. The repo rate was reduced …
South Africa trims key rate and models impact of global trade war Read More »
RABAT (Reuters) – Morocco has halted imports of feed grains from Germany following an outbreak of foot-and-mouth disease, the head of Morocco’s grain trade federation (FNCL) said on Thursday. The import suspension affected “all untreated plant-based feed intended for animal consumption from Germany due to the foot-and-mouth disease outbreak there,” Omar Yacoubi told Reuters. A …
Morocco stops German feed grain imports over foot-and-mouth disease Read More »
DAR ES SALAAM, Tanzania (Reuters) – Tanzania and Burundi have signed an agreement with two Chinese firms to build a railway between the two African countries for transporting metals, including battery mineral nickel, to the port city of Dar es Salaam. The $2.15 billion joint venture will be constructed by China Railway Engineering Group Ltd …
Tanzania, Burundi sign deal with China to build nickel-carrying railway Read More »
NAIROBI (Reuters) – Kenya’s shilling was flat against the dollar on Thursday, amid a lull in foreign currency demand, traders said. At 1035 GMT, the shilling traded at 129.00/129.50 per dollar, the same as at the close of trading on Wednesday. (Reporting by Hereward Holland; Editing by George Obulutsa)
By Camillus Eboh ABUJA (Reuters) – Nigeria’s main labour union has rejected a government-approved 50% hike in telecommunications tariffs and announced plans for a nationwide protest on Feb. 4. The telecoms regulator last week approved the increase in mobile tariffs, the first such hike in more than a decade, bowing to pressure from operators struggling …
Nigeria union rejects telecom tariff hike, plans nationwide protest Read More »
