South Africa Holds Rate as Rand, Inflation Risks Persist
The South African Reserve Bank kept its benchmark lending rate unchanged for a third consecutive meeting as the risks of a credit-rating downgrade persist, muddying the outlook for the rand and inflation.
New President Plans Zimbabwe Revival by Restoring Economy, Democracy
Zimbabwe’s new president, Emmerson Mnangagwa, has a plan to revive one of the world’s worst-performing economies and end its isolation: pay compensation to white farmers whose land was confiscated, sell bonds to rebuild infrastructure and …
Africa: Data On Canadian Immigrants From ‘Shithole’ Countries Might Surprise Trump
Defenders of Donald Trump say his "shithole countries" remark regarding people from Africa, Haiti and other nations was just Trump being Trump - the president may have used salty language, but it's really just his way of …
Miraa exporters to Mogadishu boycott trade over high prices
Miraa exporters serving the Mogadishu market have started a boycott on the trade citing high farm gate prices. Nyambene Miraa Traders Association (Nyamita) Chairman Kimathi Munjuri said the traders resolved to boycott buying the twigs …
Glencore Shrinks Job of Billionaire Copper Head Amid Congo Probe
Glencore Plc reduced the role of its billionaire head of copper, Aristotelis Mistakidis, shaking up the business after a review in the Democratic Republic of Congo raised questions about accounting and management.
Mistakidis, one of Glencore’s largest shareholders and …
South African Steinhoff Unit Mulls Early Redemption of Bonds
Steinhoff International Holdings NV said one of its South African units is considering an early redemption of all notes in issue as the global retailer struggles to stay afloat amid an accounting scandal.
Africa: How Africa Can Ride On the Cryptocurrency Wave
Nairobi — Cryptocurrency to most people and institutions in Africa is a very big, and daunting word. Like all new technologies, the concept of digital currencies remains an abstract idea to a lot of people, …
Côte d’Ivoire: Africa’s fastest growing economy’s bittersweet year
This April, cocoa farmers in Côte d’Ivoire awoke to find their crops had lost over a third of their value overnight. The government of the world’s largest cocoa producer had slashed the price it guaranteed farmers by …
Zuma to Face Ouster Bid at South African ANC Meeting
South African President Jacob Zuma will face a fresh bid to force him from office when the ruling African National Congress’s top leadership meets this week for the first time since he relinquished control of …
Nigeria, Africa’s biggest oil producer and a member of OPEC, has suffered fuel shortages over the past few weeks. They complicated transport and hurt economic activity and, in the words of President Muhammadu Buhari, ensured …
Angola Is Said to Plan Currency Sale Tuesday as It Ends Peg
Angola’s central bank will hold an auction on Tuesday to sell foreign currency to commercial banks, its first since saying it will abandon a dollar peg, according to three people familiar with knowledge of the …
Angola Joins Long List of Oil Producers in Scrapping Dollar Peg
Angola is poised to become the latest emerging-market nation to dispense with a pegged currency, another sign that a four-year slide in oil prices has battered exporters in the $2.2 trillion-a-year market.
From Angola to Zimbabwe: Guide to Key Africa Markets in 2018
For bond investors, Africa was a happy hunting ground last year. Its local-currency and dollar securities easily outperformed those of emerging markets overall as investors piled into a continent offering high yields and starting to …