By Karin Strohecker LONDON (Reuters) – The World Bank said on Thursday it had helped Ivory Coast launch a debt-for-education swap in a landmark first transaction for the Washington-based lender. The Ivory Coast government will buy back 400 million euros ($423 million) of its most expensive commercial debt due in the next five years with …
World Bank ventures into debt swaps with Ivory Coast education deal Read More »
By George Obulutsa NAIROBI (Reuters) -Kenya’s central bank cut its benchmark lending rate by a larger-than-expected 75 basis points to 11.25% on Thursday, saying there was room for looser policy to support economic growth as inflation was under control. It is the third policy meeting in a row where the Central Bank of Kenya has …
Kenya cuts main rate more than expected to stimulate growth Read More »
JOHANNESBURG (Reuters) -South Africa’s rand strengthened on Thursday on expectations of an interest rate cut by the U.S. Federal Reserve later this month. At 1513 GMT, the rand traded at 18.05 against the dollar, about 0.7% stronger than its previous close. The dollar index was last down 0.4% against a basket of currencies. “The rand …
South African rand firms as markets look to Fed rate cut Read More »
By Sfundo Parakozov JOHANNESBURG (Reuters) -South African Airways said it had cancelled flights to Perth and Sao Paulo on Thursday after receiving confirmation from the SAA Pilots Association that they planned to strike following a deadlock in pay talks. The company decided on Wednesday night to cancel the Perth and Sao Paulo routes after being …
South African Airways cancels some flights as pilots go on strike Read More »
TRIPOLI (Reuters) – The Central Bank of Libya (CBL) said on Thursday it had contracted British banknote printer De La Rue to print 30 billion dinars ($6.250 billion) in order to “solve the liquidity shortage problem” at the country’s commercial banks. The central bank said last Sunday that the liquidity shortage problem would be “gradually …
Libya’s central bank to print 30 billion dinars to ease liquidity shortage Read More »
TOKYO (Reuters) – Japan’s Mitsui & Co is collaborating with TotalEnergies and the Mozambique government to finalise plans for restarting construction of the $20 billion Mozambique liquefied natural gas (LNG) project, CEO Kenichi Hori said on Thursday. The project, led by TotalEnergies, has faced delays due to concerns over violent unrest in the region. “We …
Mitsui CEO says final push underway with TotalEnergies to revive Mozambique LNG project Read More »
RABAT (Reuters) – Italian state lender CDP and the African Development Bank (AfDB) signed on Thursday a co-financing deal worth 400 million euros ($420 million) to promote climate finance, sustainable farming, education and technical assistance, AfDB’s vice president for finance Hassatou Diop N’Sele said. The deal, signed during the AfDB’s Africa Investment Forum in Rabat, …
Italy and African Development Bank sign $420 million co-financing deal Read More »
JOHANNESBURG (Reuters) – South Africa’s current account deficit was broadly unchanged from the second to the third quarter of this year, staying at 1.0% of gross domestic product (GDP), central bank data showed on Thursday. In rand terms the current account deficit narrowed to 70.8 billion rand ($3.91 billion) in July-September, from a revised 75.3 …
South Africa’s current account deficit broadly unchanged in Q3 Read More »
KAMPALA (Reuters) – The Ugandan shilling firmed on Thursday, boosted by inflows of hard currency from charities and exporters of commodities like coffee and gold, traders said. At 0728 GMT, commercial banks quoted the shilling at 3,666/3,676, compared to Wednesday’s close of 3,673/3,683. (Reporting by Elias Biryabarema; Editing by Bhargav Acharya)
(Reuters) – West Africa-focused Tullow Oil said on Thursday Chief Executive Officer Rahul Dhir will step down and also resign from the board next year. The board has initiated a process to find a successor for Dhir, who was appointed as CEO in 2020. Dhir will stay in his role until a date has been …
