25.4 C
Lagos, South Africa and New York
Saturday, June 6, 2020

S.Africa’s rand crumbles to 4-year low as panic selling in Asia deepens rout

JOHANNESBURG (Reuters) - South Africa’s rand tumbled to a four-year low on Monday, joining a global sell-off in riskier assets as the coronavirus outbreak continued to spread globally and oil prices collapsed. The rand was already on the back foot after ratings firm Moody’s, the...

East African airlines suspend China flights due to coronavirus

NAIROBI/KIGALI (Reuters) - Kenya Airways and RwandAir said on Friday that they had suspended all flights to and from China until further notice afteAuthorities in Kenya have sent samples from a person suspected of having the new coronavirus to South Africa for further tests....

Open Nigeria’s border, Ghanaian president begs Buhari at UK-Africa Investment Summit

ABUJA —- GHANAIAN President Nana Akufo-Addo has pleaded with President Muhammadu Buhari to expedite the process of reopening the closed borders because of its effect on the economy of Ghana. President Akufo-Addo made the plea to Buhari during a bilateral discussion they had on...

Nigeria not ready for implementation of Eco Single Currency in 2020 – Onyeama

Minister of Foreign Affairs, Geoffrey Onyeama, says Nigeria is not yet ready for the implementation of the ECOWAS Single Currency, “Eco,” in 2020. Onyeama, who made this known on Thursday in Abuja while speaking with Journalists, explained that Nigeria’s position on the single currency was...

Kenya’s KCB Group injects 5 bln shillings into NBK after acquisition

NAIROBI (Reuters) - Kenya’s biggest lender by assets, KCB Group, has injected 5 billion shillings ($49.31 million) into National Bank of Kenya (NBK), which it acquired last year, it said on Thursday. “In addition to enabling NBK to comply with capital adequacy requirements, the injection...

Muted importer demand for dollars supports Ugandan shilling

KAMPALA (Reuters) - The Ugandan shilling held steady against the dollar on Tuesday mainly due to sluggish demand for hard currency by importers. By 0703 GMT, commercial banks quoted the shilling at 3,705/3,715, unchanged from Monday’s closing level. Reporting by Elias Biryabarema; Editing by Duncan Miriri

Kenyan shilling holds steady against dollar

NAIROBI (Reuters) - The Kenyan shilling was stable against the dollar on Wednesday mainly due to low demand for hard currency from importers, traders said. At 0849 GMT, commercial banks quoted the shilling at 101.25/45 per dollar, compared with 101.15/35 at Tuesday’s close. Reporting by John...

Kenya’s economy expands by 5.1% y/y in Q3 2019 – stats office

NAIROBI (Reuters) - Kenya’s economy expanded more slowly year-on-year in the third quarter of this year than in the same period last year, the statistics office said on Tuesday. The Kenya National Bureau of Statistics said the economy grew 5.1% year-on-year in the third quarter...

South Africa’s rand weathers risks to end 2019 higher, stocks down

JOHANNESBURG (Reuters) - South Africa’s rand advanced on Tuesday, holding on to gains from previous sessions triggered by a global investor hunt for high yields and optimism over a breakthrough in trade standoff between China and the United States. At 1230 GMT, the rand was...

Buhari to to discuss with ECOWAS Presidents on single currency regime Dec. 21

Presidents of Economic Community of West African States (ECOWAS) are to meet on December 21 in Abuja to consider recommendations on the proposed single currency regime for the sub-region. Nigeria’s Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this on Saturday...