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Thursday, November 26, 2020

COVID-19: Mozambique announces another 30 days of state of emergency

Maputo, Aug. 6, 2020 (Xinhua/Naija247news) Mozambique will enter another 30 days of state of emergency from Friday, while the government seeks to relax some restrictive measures in three phases in the near future, Mozambican President Filipe Nyusi said on Thursday. ‘`We believe that our next...

South Africa’s Shoprite shuts Kenyan store s, 115 jobs to go

South Africa’s Shoprite Holdings will lay off 115 staff and close another Kenyan store, less than a year after its opening as part of the supermarket’s expansion into the east African country, a letter seen shows and the company confirmed.In the letter, addressed...

SA’s rand edges firmer in cautious early trade

JOHANNESBURG (Reuters) - South Africa’s rand edged firmer in tentative early trade on Wednesday, as investors weighed a surge in coronavirus infections in key global centres and more signs of a creaking local economy. At 0700 GMT the rand was 0.23% firmer at 17.1400, retracing...

Sasol to sell stakes in Mozambique pipeline, power plant – sources

Emma Rumney, Helen Reid, Tanisha Heiberg JOHANNESBURG (Reuters) - Struggling petrochemicals producer Sasol has appointed advisers to sell its stakes in a power plant in Mozambique and a gas pipeline running from the country into South Africa, two sources familiar with the matter told Reuters. Sasol,...

Kenya central bank holds benchmark lending rate at 7.0%

NAIROBI (Reuters) - Kenya’s central bank held its benchmark lending rate at 7.0% on Thursday, saying the easing measures it had adopted since the onset of the coronavirus crisis in March were having the intended effect. Reporting by Duncan Miriri; Editing by Catherine Evans

EU imposes tariffs on Chinese makers of glass fibre fabric in China and Egypt

BRUSSELS (Reuters) - The European Union imposed tariffs on Chinese producers of glass fibre fabric in China and Egypt after finding they had benefited from unfair subsidies that allowed them to sell at excessively low prices in Europe. ADVERTISEMENT The European Commission, which oversees trade policy...

Kenya central bank to hold its rate-setting meeting on June 30

NAIROBI (Reuters) - The Kenyan central bank’s Monetary Policy Committee will hold its next rate-setting meeting on June 30, it said on Tuesday. Policymakers left the bank’s benchmark lending rate unchanged at their last meeting on May 27. Reporting by Duncan Miriri

Ghana eyes policies to reduce MTN’s telecoms market share

ACCRA (Reuters) - Ghana will implement a set of policies to reduce the dominance of MTN in the country’s telecommunications market, the government has said in a statement “The National Communications Authority (NCA) will in the coming days begin the implementation of specific policies to...

SA’s rand retreats as U.S.-China tensions dim rate cut cheer

JOHANNESBURG (Reuters) - South Africa’s rand weakened early on Friday as a rising dollar ended its rally, although the South African currency remained near two-month highs following another rate cut by the country’s central bank. At 0630 GMT, the rand was 0.62% weaker at 17.7200...

South African central bank cuts lending rate by 50 basis points

JOHANNESBURG (Reuters) - South Africa’s central bank cut its main lending rate by 50 basis points (bps) to 3.75% on Thursday, in what Governor Lesetja Kganyago said was a move aimed at shielding the economy from the impact of the new coronavirus. The reduction comes...
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