PARIS (Reuters) – The Financial Action Task Force (FATF), a financial crime watchdog, said on Friday it removed Senegal from its list of countries under increased scrutiny and added Algeria, Angola, Ivory Coast and Lebanon. Senegal has made significant progress in implementing policies against money laundering and “terrorism financing,” the watchdog said in a statement. …
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s National Treasury will trim its 2024/25 budget deficit estimate next week as it aims to lower interest payments on debt, while the fiscal challenges it faces in the coming year are unlikely to slow consolidation efforts, a Reuters poll found. In February, the Treasury surprised economists and …
S.Africa’s Treasury to trim 2024/25 budget deficit forecast on Oct 30 – Reuters poll Read More »
NAIROBI (Reuters) – Kenya’s high court on Friday suspended a $736 million deal between a state utility and India’s Adani Energy Solutions to build and operate power infrastructure including transmission lines. The public-private partnership agreement between state-owned Kenya Electrical Transmission Company (KETRACO) and Adani Energy Solutions was signed earlier this month. On Oct. 11 the …
Kenyan court suspends $736 million Adani power line deal Read More »
By Wendell Roelf CAPE TOWN (Reuters) – Partners developing the $5 billion East African Crude Oil Pipeline (EACOP) are injecting more cash into the project to prevent it stalling as debt financing proves elusive, Uganda’s energy minister told Reuters. Minister Ruth Nankabirwa recently travelled to Beijing to meet with potential Chinese funders seen as crucial …
Uganda’s $5 billion EACOP pipeline faces difficult debt talks Read More »
By Ange Aboa DIVO, Ivory Coast (Reuters) – Following heavy rain in much of Ivory Coast, pod counters and exporters are starting to lower their production forecasts for the main cocoa crop due to high flower and cherelle mortality after the October counts, they said Friday. Four pod counters and six exporters whose teams carry …
Ivory Coast cocoa pod counters lower main crop forecasts after rain Read More »
By Tim Cocks JOHANNESBURG (Reuters) – New coal investment may be drying up as the world seeks greener energy, but for miners like South Africa’s Thungela Resources that could be a boon if Asia’s ravenous appetite keeps prices bouyant, its CEO said on Friday. Since its demerger from Anglo American in 2021, South Africa’s Thungela …
Thungela CEO sees world shunning new coal as boon for existing mines Read More »
By Duncan Miriri and Karin Strohecker NAIROBI/WASHINGTON (Reuters) – Sub-Saharan African nations that depend on commodity exports need to reform their economies to tackle patchy regional economic growth, International Monetary Fund Africa Director Abebe Aemro Selassie said. The region is expected to grow by 3.6% this year, unchanged from last year and down from an …
IMF urges African oil exporters’ reforms to boost ‘subdued’ growth Read More »
By Libby George and Naomi Rovnick LONDON (Reuters) – Japan’s election could prompt the next market gyrations in a year in which countries housing half the world’s population will have voted. But markets remain fixated on the U.S. presidential election – the race that counts most for investors and global leaders alike. Here’s a selection …
Markets’ wild 2024 election ride rolls on as U.S. vote looms Read More »
KAMPALA (Reuters) – The Ugandan shilling was slightly weaker on Friday on the back of hard-currency demand from energy importers, traders said. At 1029 GMT commercial banks quoted the shilling at 3,663/3,673 to the dollar, compared to Thursday’s close of 3,660/3,670. (Reporting by Elias Biryabarema; Editing by Alexander Winning)
By Karin Strohecker WASHINGTON (Reuters) – South Africa’s rand has further room to strengthen if the government in Pretoria pushes ahead with reforms and prudent policies, the country’s central bank chief Lesetja Kganyago told Reuters. The currency of Africa’s most industrialized nation has been a top emerging market performer, strengthening some 2.5% against the U.S. …
South African reforms could push rand higher, central bank chief says Read More »
