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Monday, July 13, 2020

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...

US vows 100% tariffs on French Champagne, cheese, handbags over digital tax

The U.S. government on Monday said it may slap punitive duties of up to 100% on $2.4 billion (£1.87 billion) in imports of French Champagne, handbags, cheese and other products. The move comes after it concluded that...

South Africa’s rand steady, stocks fall as investors eye trade Devt

JOHANNESBURG (Reuters) - South Africa’s rand steadied on Thursday as investors assessed the impact of U.S. backing for protesters in Hong Kong on its trade negotiations with China, while stocks fell. Visitors walk past a reception with an electronic board displaying movements in major indices...

Growth in loans, credit cards poses risk to S.Africa’s economy – central bank

JOHANNESBURG (Reuters) - An acceleration in the growth of riskier, unsecured lending in South Africa threatens the stability of the finance sector, the central bank said on Thursday. Many poor South Africans rely on unsecured credit – not backed by an asset and generally more...

Nigeria demands levying duties from neighbours to curb illegal smuggling

By Felix Onuah ABUJA, Nov 27 - Nigeria met with its West African neighbours on Tuesday over its land border closure, with the African giant insisting on levying duties on goods transiting to its country through neighbouring nations to curb smuggling. "Tuesday, there was a...
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