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Articles64

Nigeria signs deepwater oil contract with TotalEnergies

ABUJA, Sept 1 (Reuters) – Nigeria has signed a production-sharing contract with TotalEnergies and its local partner South Atlantic Petroleum (Sapetro) for two offshore blocks awarded during the 2024 licensing round, the country’s upstream oil regulator said on Monday. The deal covers Petroleum Prospecting Licences 2000 and 2001, and spans about 2,000 square

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CNBC Africa10mo ago

South African rand gains after manufacturing PMI and car sales figures

JOHANNESBURG, Sept 1 (Reuters) – The South African rand firmed against a weaker dollar on Monday, after the release of mixed local data. At 1251 GMT the rand traded at 17.59 against the dollar, about 0.3% up from Friday’s close. South African manufacturing sentiment deteriorated in August after a short-lived improvement in July, as activity remained subdued

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CNBC Africa10mo ago

Glencore plans job cuts at South African ferrochrome and vanadium operations

JOHANNESBURG, (Reuters) – Glencore said on Monday that a retrenchment process has been initiated at its joint-venture Rustenburg ferrochrome smelter and vanadium operations in South Africa as significant economic pressures continue to impact the businesses. South Africa holds approximately 80% of the world’s known chrome ore reserves, according to Glencore,

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CNBC Africa10mo ago

African Markets – Factors to watch on Sept 2

NAIROBI, Sept 2 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. GLOBAL MARKETS Asian stocks edged higher while the dollar lurked near five-week lows and gold climbed to a record high on Tuesday, as investors girded for a slate of […]

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CNBC Africa10mo ago

World Bank urges fresh push on economic threat of pollution

LONDON, Sept 1 (Reuters) – Degraded land, polluted air and water stress pose a direct global economic threat but using natural resources more efficiently could cut pollution by half, one of the World Bank’s senior managing directors told Reuters. The damage is particularly acute for low-income countries most at threat from poverty, climate change and biodive

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CNBC Africa10mo ago

South African Markets-Factors to watch on September 2

JOHANNESBURG, Sept 2 (Reuters) – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Tuesday. ECONOMIC EVENTS Weekly government bond auction COMPANIES Shoprite full-year results SOUTH AFRICAN MARKETS The South African rand firmed against a weaker dollar on Monday, after the rele

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CNBC Africa10mo ago

South African retailer Shoprite earnings rise on festive, Easter demand

JOHANNESBURG, Sept 2 (Reuters) – Shoprite Holdings South Africa’s biggest supermarket retailer, reported a 15.8% rise in full-year earnings on Tuesday, as customers stocked up on food during the festive and Easter seasons. Shoprite said diluted headline earnings per share from continuing operations rose to 13.67 rand in the year through June 29, up from a re

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CNBC Africa10mo ago

S.Africa’s Barloworld finds ‘apparent violations’ of US export controls after probe

Sept 2 (Reuters) – South Africa’s Barloworld said on Tuesday its investigation into U.S. export control regulations found “apparent violations” by the company, which it is addressing through undisclosed actions. The probe, however, cleared the company of any breaches of U.S. sanctions. Barloworld said it has submitted the final report to U.S. authorities and

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CNBC Africa10mo ago

South African retailer Shoprite earnings rise on festive, Easter demand

JOHANNESBURG, Sept 2 (Reuters) – Shoprite Holdings, South Africa’s biggest supermarket retailer, reported a 15.8% rise in full-year earnings on Tuesday, as customers stocked up on food during the festive and Easter seasons. Shoprite said diluted headline earnings per share from continuing operations rose to 13.67 rand in the year through June 29, up from a r

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CNBC Africa10mo ago

South African rand falls as dollar gains ahead of key US data

JOHANNESBURG, Sept 2 (Reuters) – The South African rand fell on Tuesday against a much stronger dollar as investors awaited key U.S. data that could influence the Federal Reserve’s interest rate decision this month. At 1314 GMT, the rand traded at 17.7350 against the dollar, about 0.6% weaker than Monday’s close. The dollar USD last traded 0.8% firmer agains

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CNBC Africa10mo ago

Uganda says it is negotiating a new funding round with the IMF

KAMPALA, Sept 2 (Reuters) – Uganda is negotiating a new round of funding with the International Monetary Fund after a previous one lapsed last year, a top Ugandan finance ministry official said on Tuesday. The East African country’s previous Extended Credit Facility, which commenced in 2021 and was worth about $1 billion, expired last year with only […]

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CNBC Africa10mo ago

Shoprite nears Africa consolidation finish line, with Mozambique under possible review

JOHANNESBURG, (Reuters) – Shoprite Holdings, South Africa’s largest supermarket chain, has largely completed the consolidation of its operations across Africa, but Mozambique is on the list of countries that might be reviewed, the CEO told Reuters on Tuesday. The retailer had expanded extensively in Africa, surpassing rivals such as Pick n Pay and Walmart ow

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CNBC Africa10mo ago

African Markets – Factors to watch on Sept 3

NAIROBI, Sept 3 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. GLOBAL MARKETS A global slide in long-dated bonds extended into Asia on Wednesday, while gold climbed to a new peak as concerns mounted over government debt and economic g

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CNBC Africa10mo ago

South African Markets – Factors to watch on September 3

JOHANNESBURG, Sept 3 (Reuters) – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday. ECONOMIC EVENTS S&P Global South Africa PMI for August COMPANIES Woolworths full-year results SOUTH AFRICAN MARKETS The South African rand fell on Tuesday against a much stronger doll

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CNBC Africa10mo ago

South African rand weaker before PMI survey, US data

JOHANNESBURG, Sept 3 (Reuters) – South Africa’s rand weakened in early trade on Wednesday ahead of the release of a purchasing managers’ index survey and as global markets awaited the release of key U.S. data for further clues on the Federal Reserve’s interest rate trajectory. At 0545 GMT the rand traded at 17.7250 against the dollar, about […]

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CNBC Africa10mo ago

South Africa’s Woolworths profit falls on weak Country Road chain

JOHANNESBURG, Sept 3 (Reuters) – South African fashion retailer Woolworths reported a 23.9% decline in full-year headline earnings, due to a weaker-than-expected performance from its Australian clothing chain Country Road Group, it said on Wednesday. On a comparable basis, headline earnings per share (HEPS) fell to 268.1 South African cents in the 52 weeks e

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CNBC Africa10mo ago

South Africa’s business activity edges up as cost pressures ease in August, PMI shows

JOHANNESBURG, Sept 3 (Reuters) – South African businesses experienced a very modest improvement in operating conditions in August as cost pressures eased, the S&P Global South Africa Purchasing Managers’ Index showed on Wednesday. The headline PMI stood at 50.1 for the month, slightly down from 50.3 in July and marking the fourth consecutive month above the

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CNBC Africa10mo ago

Kenya’s private sector activity contracts at slower pace in August, PMI survey shows

NAIROBI, Sept 3 (Reuters) – Kenya’s private sector activity contracted in August but at a slower pace than the previous month, with improved performance in the manufacturing and wholesale and retail sectors cushioning that of agriculture, construction and services, a survey showed on Wednesday. The Stanbic Bank Kenya Purchasing Managers’ Index rose to 49.4 i

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CNBC Africa10mo ago

South Africa’s business activity edges up as cost pressures ease in August, PMI shows

JOHANNESBURG, Sept 3 (Reuters) – South African businesses experienced a very modest improvement in operating conditions in August as cost pressures eased, the S&P Global South Africa Purchasing Managers’ Index showed on Wednesday. The headline PMI stood at 50.1 for the month, slightly down from 50.3 in July and marking the fourth consecutive month above the

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CNBC Africa10mo ago

Kenya’s private sector activity contracts at slower pace in August, PMI survey shows

NAIROBI, Sept 3 (Reuters) – Kenya’s private sector activity contracted in August but at a slower pace than the previous month, with improved performance in the manufacturing and wholesale and retail sectors cushioning that of agriculture, construction and services, a survey showed on Wednesday. The Stanbic Bank Kenya Purchasing Managers’ Index rose to 49.4 i

0
CNBC Africa10mo ago