Reuters Africa

By Maxwell Akalaare Adombila and Christian Akorlie ACCRA (Reuters) -The International Monetary Fund’s board approved a first review of Ghana’s loan programme on Friday, allowing for the immediate disbursement of about $600 million under its $3 billion bailout programme, it said on Friday. The decision comes after the gold, oil and cocoa producer reached a …

IMF board approves $600 million payout for Ghana under loan programme Read More »

FREETOWN/ABUJA (Reuters) – Sierra Leone’s ex-president Ernest Bai Koroma left the West African country by plane and flew to Nigeria on Friday, two Reuters reporters said, after a court allowed him to travel abroad on medical grounds despite treason charges. On Jan. 3, 70-year-old Koroma was charged with four offences for his alleged role in …

Indicted Sierra Leone ex-president Koroma flies to Nigeria Read More »

(Corrects MPC date to Feb. 26, not 25 in paragraph 2) ABUJA (Reuters) – Nigeria’s central bank will hold its next interest rate meeting in February – the first since last July – according to a schedule released on Friday. In a statement published on its website, the Central Bank of Nigeria has tentatively scheduled …

Nigeria central bank to hold policy meeting in Feb, first since July Read More »

JOHANNESBURG (Reuters) – South Africa’s rand weakened further on Friday after losing ground against a surging U.S. dollar all week due to indications that the Federal Reserve might keep rates higher for longer. At 1512 GMT the rand traded at 19.0550 to the dollar, about 0.6% weaker than its previous close. It started the week …

South African rand ends week down against climbing dollar Read More »

WINDHOEK (Reuters) – Namibia’s President Hage Geingob was diagnosed with cancer during a medical check-up earlier this month and will undergo treatment, the office of the 82-year-old head of state said on Friday. A statement from his office did not give further details about his condition, but said he would continue to carry out presidential …

Namibia’s president Geingob to undergo cancer treatment, presidency says Read More »

By Duncan Miriri NAIROBI (Reuters) – The Trade and Development Bank (TDB) has lent Kenya $210 million, Finance Minister Njuguna Ndung’u told Reuters on Friday, ahead of the maturation of a $2 billion Eurobond in June. Falling hard currency reserves, a steep weakening of the Kenyan shilling and revenue challenges have raised questions about the …

Kenya receives $210 million in loans from TDB, finance minister says Read More »

ABUJA (Reuters) – Nigeria’s former central bank Governor Godwin Emefiele was on Friday charged with fraud, including obtaining $6.2 million in bank funds under false pretences, part of 20 charges levelled against him by prosecutors. Emefiele entered a not guilty plea. The former Central Bank of Nigeria chief is the most high profile official to …

Nigeria accuses former central bank boss to $6.2 million fraud Read More »

MAPUTO (Reuters) – A Mozambican court has ruled that a shipment of pigeon peas belonging to global commodities broker Export Trading Group (ETG) cannot be exported to India, the latest step in a battle between rival exporters that has caused delays and pushed up prices. ETG went to court to prevent Mozambican-based Royal Group Limitada …

Mozambique court rules for ETG commodities in pigeon peas battle Read More »

COPENHAGEN (Reuters) – Denmark’s Maersk said on Friday it was temporarily suspending bookings to Djibouti from Asia, the Middle East, Oceania, East Africa and South Africa on its Blue Nile Express service. “The situation in and around the Red Sea/Gulf of Aden continues to be volatile and all available intelligence at hand confirms that the …

Denmark’s Maersk temporarily suspends bookings to Djibouti Read More »