Reuters Africa

(Reuters) – Ethiopia’s credit rating was downgraded further into junk territory on Thursday by the Fitch Ratings agency, which cited an “increased likelihood” of default. The east African country failed to pay a coupon on its single outstanding $1 billion Eurobond which had been due on Dec. 11, saying last week it could not make …

Fitch downgrades Ethiopia further into junk territory as default looms Read More »

By Muyu Xu, Stephanie Kelly and Alex Lawler SINGAPORE/NEW YORK/LONDON (Reuters) -Oil investors will usher in 2024 with gnawing concerns about oversupply, slowing economic growth and simmering Middle East tension that could spark price volatility. Benchmark Brent has averaged around $80 a barrel this year, after a volatile 2022 in which prices surged above $100 …

Oil investors to usher in 2024 amid oversupply, demand concerns Read More »

JOHANNESBURG (Reuters) -South Africa’s rand gained against the softer dollar on Thursday after data showed producer inflation fell more than expected in November and formal sector jobs rose in the third quarter. At 1230 GMT, the rand was trading 18.5100 against the dollar, over 0.8% stronger than its previous close. The dollar index hit a …

South African rand jumps after producer inflation, jobs data Read More »

By Nafisa Eltahir CAIRO (Reuters) – Families in Sudan’s conflict zones could experience famine-like hunger by next summer, the United Nations has warned, while some in the war-ravaged capital are surviving on a single, meagre daily meal. Some 30 million people, almost two thirds of the population, are in need of assistance in Sudan according …

War pushes Sudan towards ‘catastrophic’ famine-like conditions Read More »

NAIROBI (Reuters) – Kenya’s shilling and Zambia’s kwacha are expected to fall in the next week to Thursday, while the Ugandan shilling could strengthen, Ghana’s cedi will probably be steady and Nigeria’s naira may be mixed, traders said. KENYA Kenya’s shilling is seen slipping on increased foreign-currency demand from the manufacturing sector and as Kenyans …

AFRICA-FX-Kenyan and Zambian currencies seen falling, Ghana’s steady Read More »

ACCRA (Reuters) – Ghana’s consumer inflation slowed to 26.4% year on year in November from 35.2% in October, the statistics service said on Thursday. The cocoa, gold and oil-producing country facing its worst economic crisis in a generation is in talks with bilateral and commercial creditors to restructure its debts. (Reporting by Christian Akorlie and …

Ghana inflation slows to 26.4% y/y in November – statistics agency Read More »

JOHANNESBURG (Reuters) – South Africa’s producer inflation slowed to 4.6% year on year in November from 5.8% in October, statistics agency data showed on Thursday. On a month-on-month basis, the producer price index was at -0.6% in November from 1.0% the previous month, Statistics South Africa said. (Reporting by Bhargav Acharya; Editing by Alexander Winning)