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Sunday, July 5, 2020

Ivory Coast cocoa farmers hope for more sunny days

ABIDJAN (Reuters) - Heavy rainfall last week in most of Ivory Coast’s cocoa-growing regions was accompanied by some of the sunniest days in months, improving bean quality, farmers said on Monday. Ivory Coast, the world’s top cocoa producer, is on the cusp of the...

Ghana Plans to copy Nigeria’s border policy on rice, poultry imports ban

Rice importers would be ordered to cease their trade in three years if everything goes as planned, Ghana’s Agric Minister, Dr. Owusu Afriyie-Akoto, has said. The same applies to persons who import poultry products. The policy, if implemented would also be similar to the situation with...

Ghana GDP growth to rise to about 7% in 2019 -IMF

DAKAR (Reuters) - Ghana’s economic growth is expected to rise to around 7% this year from 6.3% in 2018, boosted by its extractive industries, the International Monetary Fund said on Thursday. The Fund said in a statement at the end of a staff visit that...

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...

South African rand strengthens in early trade

JOHANNESBURG (Reuters) - South Africa’s rand edged higher early on Tuesday, as optimism around prospects of a U.S.-China trade deal outweighed worries over struggling state power utility Eskom and an upcoming budget speech. At 0657 GMT, the rand traded at 14.7250 versus the dollar, 0.3%...

Uganda says its economy 11% larger after rebasing

KAMPALA (Reuters) - Uganda said on Monday its economy was 11.6% larger than earlier thought after it rebased its calculations, a move economists said was to incorporate new sectors whose output had grown in recent years. The east African country’s gross domestic product (GDP)...

South Africa’s September business confidence recovers from 34-year low – SACCI

JOHANNESBURG (Reuters) - South African business confidence improved in September, recovering from a 34-year low in the previous month as exports and vehicle sales increased while economic activity picked-up, a survey showed on Wednesday. The South African Chamber of Commerce and Industry’s (SACCI) monthly business...

African Free Trade Stumbles With Nigerian Blockade of Benin

By Yinka Ibukun, Ruth Olurounbi, and Virgile Ahissou President Buhari ordered partial closing of border with Benin Dispute comes weeks after nations signed free-trade accord Nigeria and Benin are embroiled in a trade dispute two months after signing an...

Kenya central bank says banking sector consolidation to continue

NAIROBI (Reuters) - Kenya central bank governor said on Tuesday ongoing consolidation in the banking sector will continue. “We are not done yet,” Patrick Njoroge told a news conference, adding that the market-driven consolidation was working. There has been significant consolidation among Kenyan banks since two...

S.Africa rides investor demand to raise $5 bln from bonds sale

(Reuters) - The South African government said on Tuesday it raised $5 billion from the sale of two new bonds in international markets, as strong demand from investors helped it raise 25% more than it had originally planned. The transaction was more than twice oversubscribed...
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