Reuters Africa - Squid Business

Yen rises after Japan ramps up intervention warning; US data weighs on dollar

By Harry Robertson and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) – The struggling yen rose from a one-year low against the U.S. dollar and a 15-year trough versus the euro on Wednesday on threats of intervention from Japanese authorities, and as investors shifted focus to the Federal Reserve’s policy decision later in the day. The dollar …

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Abduction of opposition MP draws anger in Zimbabwe

By Nyasha Chingono HARARE (Reuters) – A Zimbabwean opposition lawmaker was abducted by unknown armed men on Wednesday, assaulted and then dumped about 50 km north of the capital Harare, members of his party said. Takudzwa Ngadziore, 25, one of the youngest legislators for the Citizens Coalition for Change (CCC) posted a live video on …

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Germany’s Scholz says his country, EU to help boost West Africa security

ACCRA (Reuters) – German Chancellor Olaf Scholz on Tuesday said his country and the European Union as a whole were committed to boosting security in West Africa, and could provide training and equipment to support operations against a jihadist insurgency spreading through the region. Speaking in Ghana on the last leg of his third trip …

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South Africa amends Eskom debt relief, making loans interest-bearing

CAPE TOWN (Reuters) – South Africa’s government has amended its debt-relief terms for struggling state power utility Eskom so that loans to the company will be interest-bearing rather than interest-free, the National Treasury said on Wednesday at a mid-term budget review. In February, the treasury said the government would take on 254 billion rand ($13.59 …

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Rafah crossing to be opened Wednesday for injured Gazans to complete treatment in Egypt – sources

(Reuters) – The Rafah border crossing will be opened Wednesday for a number of Palestinians who were injured in Gaza to complete their treatment in Egyptian hospitals, Egyptian medical and security sources as well as a Palestinian border official said on Tuesday. (Reporting By Nidal al Mughrabi; Muhammad Al Gebaly and Nafisa Eltahir; Editing by …

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Uganda plans to hand over exclusive petroleum supply deal to Vitol

By Elias Biryabarema KAMPALA (Reuters) – Uganda plans to hand over exclusive rights for supply of all petroleum products to a unit of global energy trader Vitol and end a system that sources the oil products through neighbouring Kenya, Uganda’s energy minister said. Fuel companies in the landlocked East African nation buy their supplies through …

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South African factory activity accelerates decline in October – Absa PMI

JOHANNESBURG (Reuters) – South African manufacturing activity shrank at a faster pace in October, dragged down by weak domestic demand and adverse global events despite an improvement in local power supply. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) fell to 45.4 points in October from an upwardly revised 46.2 in September, further below the 50-point …

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Analysis-African apparel industry’s future hangs on a U.S. thread

By Joe Bavier and Duncan Miriri NAIROBI (Reuters) – Norah Nasimiyu knows the future of Kenya’s garment trade, which has employed her for 13 years and helped her put six children through school and university, lies in the hands of the U.S. Congress. And like others, she is worried. U.S. officials visiting South Africa this …

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North Korea closes multiple embassies around the world

By Hyonhee Shin SEOUL (Reuters) -North Korea is poised to close as many as a dozen embassies including in Spain, Hong Kong, and multiple countries in Africa, according to media reports and analysts, in a move that could see nearly 25 percent of Pyongyang’s missions close worldwide. North Korea’s recent closing of its diplomatic missions …

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King Charles expresses “deepest regret” for Kenya colonial wrongdoings

By Duncan Miriri NAIROBI (Reuters) -King Charles said on Tuesday he felt the “greatest sorrow and deepest regret” for atrocities suffered by Kenyans during their struggle for independence from British colonial rule. But in a speech at the start of a four-day state visit to Kenya, he stopped short of making a full apology called …

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