KIGALI (Reuters) -The International Monetary Fund said on Tuesday that a mission to Rwanda had agreed a new 14-month Stand-by Credit Facility worth $262 million to help the East African country deal with balance of payment pressures from climate shocks. IMF staff and Rwanda also reached agreement on policies needed to complete the second reviews …
Rwanda set for new $262 million IMF stand-by facility Read More »
WASHINGTON (Reuters) – Mauritania’s trade preference benefits under the African Growth and Opportunity Act will be reinstated on Jan. 1, 2024 after the northwest African country made “substantial and measurable progress on worker rights and eliminating forced labor,” the U.S. Trade Representative’s office said on Tuesday. The reinstatement of Mauritania’s trade benefits suspended in 2019 …
U.S. to restore Mauritania’s AGOA trade preferences after worker rights progress Read More »
(Reuters) -South Africa’s Impala Platinum will reduce planned spending across its business to reflect current low metal prices, the company said on Tuesday. The prices of platinum group metals (PGM), which are used by automakers for catalysts that help curb toxic emissions, have fallen steeply this year, squeezing miners still facing high operational costs. Platinum …
Impala Platinum to cut spending after metal price decline Read More »
By Promit Mukherjee and Anait Miridzhanian JOHANNESBURG (Reuters) -South African state power utility Eskom forecast a significant narrowing of its net losses in the financial year to March 2025 on Tuesday, but after only a marginal drop for this year. Eskom’s interim CEO Calib Cassim told a press conference that the company was likely to …
South Africa’s Eskom to significantly narrow loss next year -CEO Read More »
By Nyasha Nyaungwa WINDHOEK (Reuters) -Namibia now expects economic growth of 3.5% in 2023 and 2.9% next year, up from earlier forecasts of 3.2% and 2.2%, supported by higher manufacturing output and strong demand for services, Finance Minister Ipumbu Shiimi said on Tuesday. Shiimi gave the new projections at a mid-year budget review in parliament, …
Namibia raises economic growth forecasts for this year and next Read More »
By Nuzulack Dausen DAR ES SALAAM (Reuters) – Germany will open talks with Tanzania about the legacy of its three decades of colonial rule in the East African nation, the two countries’ presidents said on Tuesday. Tanzanian politicians and activists have long pushed for reparations and the return of human remains from their country that …
Germany and Tanzania to open talks on colonial legacy Read More »
KAMPALA (Reuters) – A U.S. couple previously charged in Uganda with aggravated torture and child trafficking pleaded guilty on Tuesday to lesser charges and will now pay a range of fines of up to 105 million shillings ($28,000), according to a court ruling. Nicholas Spencer and his wife Mackenzie Leigh Mathias Spencer, both in their …
American couple in Uganda accused of torturing boy plead guilty to lesser charges Read More »
By Sonia Rolley KINSHASA (Reuters) – Six presidential candidates in Democratic Republic of Congo, including President Felix Tshisekedi’s main rivals, called on Tuesday for urgent measures to prevent potential fraud in the upcoming general election. In a joint statement, the candidates promised to work together to prevent any manipulation of results, and demanded a number …
Congo presidential candidates call for urgent measures to ‘save’ election Read More »
JOHANNESBURG (Reuters) – South African fashion and food retailer Woolworths will buy a 93.45% stake in pet care retailer Absolute Pets from Sanlam Private Equity and Absolute’s management, it said on Tuesday, stepping up a turf war for the country’s affluent shoppers. The undisclosed purchase price will be settled in cash and the remaining management-retained …
S.Africa’s Woolworths steps up battle for affluent shoppers with Absolute Pets deal Read More »
WASHINGTON (Reuters) – U.S. President Joe Biden said on Monday that he intends to end the participation of Gabon, Niger, Uganda and the Central African Republic in the African Growth and Opportunity Act (AGOA) trade program. Biden said he was taking the step because of “gross violations” of internationally recognized human rights by the Central …
US to evict Gabon, Niger, Uganda and Central African Republic from trade program Read More »
