25 C
Lagos, South Africa and New York
Friday, July 10, 2020

South Africa’s Tiger Brands says FY earnings to fall as much as 30 percent

JOHANNESBURG (Reuters) - South Africa’s Tiger Brands expects full year headline earnings per share to fall between 25 and 30 percent compared with the previous year, the food group said on Friday, sending its shares 3 percent lower. In August, the company had forecast...

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...

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...

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...

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

Zimbabwe inflation quickens to 3.52 pct y/y in January – Zimstats

HARARE (Reuters) - Zimbabwe’s consumer price inflation quickened to 3.52 percent year-on-year in January from 3.46 percent in December, data from the national statistics agency showed on Thursday. On a month-on-month basis, prices rose by 0.3 percent in January after rising 0.53 percent in the...

Kenya central bank holds main lending rate at 9.0 pct

NAIROBI (Reuters) - Kenya’s central bank held its benchmark lending rate at 9.0 percent on Monday, the bank’s monetary policy committee said, saying inflation was anchored within the target range. Policymakers said the decision, the third hold in a row since September, was also supported...

South African rand rises as dollar falls before Fed rate decision

JOHANNESBURG (Reuters) - South Africa’s rand firmed on Wednesday, as expectations that the U.S. Federal Reserve will signal a slower pace of monetary tightening kept the dollar under pressure. Stocks closed slightly higher, snapping a three-day losing streak stemming from worries over global economic growth. At...

Kenyan shilling stable against the dollar, market players eye rate cap decision

NAIROBI (Reuters) - The Kenyan shilling was stable against the dollar on Tuesday supported by inflows from offshore investors buying government debt, traders said. At 0905 GMT, commercial banks quoted the shilling at 103.65/85 per dollar, the same as Friday’s close. Kenyan markets were closed...

Kenya asks IMF for a 6-month extension of $1.5 bln standby credit

NAIROBI (Reuters) - Kenya has asked the International Monetary Fund (IMF) to extend its $1.5 billion standby credit facility that expires in March for a further six months, the IMF said. Visitors are silhouetted against the logo of the International Monetary Fund at the main...
WP to LinkedIn Auto Publish Powered By : XYZScripts.com
Open chat
Send us your story