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UN Security Council supports wind-down of Congo peacekeeping mission

KINSHASA (Reuters) -The United Nations Security Council on Tuesday unanimously adopted a resolution starting to wind down its peacekeeping mission in the Democratic Republic of Congo. The U.N.’s news service said in a post on social media platform X that all 15 members voted in favour of the resolution. Democratic Republic of Congo President Felix …

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Hijacked ship off Somalia fuels fears pirates back in Red Sea waters

By Jonathan Saul, Emma Pinedo and Abdi Sheikh LONDON/MADRID/MOGASISHU (Reuters) – A merchant ship sailing off Somalia has been hijacked by unknown raiders, Spain’s defence ministry said on Tuesday, fuelling fears pirates are returning to the Gulf of Aden and Red Sea waters already plagued by a surge in attacks on shipping. A Spanish warship …

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South African rand firms as rate cuts eyed next year

JOHANNESBURG (Reuters) -The South African rand strengthened on Tuesday against a weaker U.S. dollar, as global market sentiment was buoyed by expectations of interest rate cuts in 2024 and a local leading business cycle indicator came in line with expectations. At 1605 GMT, the rand traded at 18.3200 against the dollar, 1.4% firmer than its …

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BioNTech aims to start mRNA vaccine output in Rwanda in 2025

NAIROBI (Reuters) – COVID-19 vaccine maker BioNTech aims to start production at its mRNA vaccine factory site in Rwanda in 2025, company officials said on Monday, the first foreign company mRNA vaccine manufacturing site on the continent. The German company’s first modular factory elements, based on shipping containers, were delivered to the Kigali construction site …

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Ghana’s cocoa board inks $800 million loan and seeks quick drawdown

By Maxwell Akalaare Adombila ACCRA (Reuters) -Ghana’s cocoa marketing board has signed an $800 million syndicated loan with banks and expects to draw down the first $600 million as soon as this week, its deputy chief executive officer said on Tuesday. Ghana, the world’s second-largest cocoa producer behind neighbouring Ivory Coast, uses an annual syndicated …

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Factbox-Houthi attacks in the Bab al-Mandab Strait hit global trade

By Ahmad Ghaddar LONDON (Reuters) – Yemen’s Houthis have been targeting vessels in the southern Red Sea and the Bab al-Mandab Strait in attacks that the Iran-aligned group says aim to support the Palestinians as Israel and Hamas wage war. The attacks have disrupted global trade flows, with shipping firms and oil companies saying they …

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Nigerian naira falls to record low on official market

ABUJA (Reuters) -Nigeria’s naira dropped to a record low against the dollar on the official market on Tuesday in thin trading, swinging widely to levels seen on the unofficial parallel market, where the currency trades freely. The naira fell as low as 1,248 to the dollar, during mid-day trading, LSEG data showed after it opened …

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India’s Varun Beverages to enter S. Africa with $159 million deal

BENGALURU (Reuters) -Pepsi India bottler Varun Beverages said on Tuesday it will buy South Africa-based The Beverage Company in a deal valued at 13.2 billion rupees ($158.71 million), enabling it an entry into Africa’s largest market. The Beverage Company bottles and distributes PepsiCo-branded non-alcoholic beverages in South Africa and has five manufacturing facilities in the …

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Offshore investors net sellers of South African stocks

JOHANNESBURG (Reuters) – Offshore investors sold a net 9.02 billion rand ($487.44 million) of South African stocks last week, data from the Johannesburg Stock Exchange showed on Tuesday. Settlement data on bonds showed 1.70 billion rand of net purchases while trading data showed 1.33 billion rand of net sales. ($1 = 18.5049 rand) (Reporting by …

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Ugandan shilling little-changed; forecast to strengthen

KAMPALA (Reuters) – The Ugandan shilling was little-changed on Tuesday, but was forecast to strengthen, fuelled by muted importer dollar demand and healthy inflows from charities, traders said. At 0955 GMT, commercial banks quoted the shilling at 3,762/3,772, compared with Monday’s closing rate of 3,765/3,775. (Reporting by Elias Biryabarema; Editing by George Obulutsa)