<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



NAIROBI, Feb 21 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian shares rose on Friday, reversing Wall Street&#8217;s negative lead as the U.S. exceptionalism narrative continued to lose its shine, while once unloved Chinese stocks found themselves more buyers thanks to optimism over artificial intelligence (AI).



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices extended gains on Friday, headed for a weekly increase, as falling inventories of U.S. gasoline and distillate raised expectations of solid demand while concerns over supply disruptions in Russia lent support.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



South Africa&#8217;s rand strengthened against a weaker dollar on Thursday, as investors digested U.S. data and President Donald Trump&#8217;s tariff plans.



<h2 class="wp-block-heading" id="h-nigeria-central-bank-rate">NIGERIA CENTRAL BANK RATE</h2>



Nigeria&#8217;s central bank left its benchmark interest rate unchanged on Thursday after six hikes last year, saying that it was reassured by stability in the foreign exchange market and saw inflation gradually falling.



<h2 class="wp-block-heading" id="h-africa-currencies">AFRICA CURRENCIES</h2>



The Kenyan, Nigerian, Ghanaian and Zambian currencies are expected to be broadly stable in the next week to Thursday, while Uganda&#8217;s could come under pressure, traders said.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



Kenya&#8217;s shilling was stable on Thursday, but traders expect it to weaken soon as importers increase their dollar purchases.



<h2 class="wp-block-heading" id="h-democratic-republic-of-congo-security">DEMOCRATIC REPUBLIC OF CONGO SECURITY</h2>



The United States on Thursday said it was imposing sanctions on a Rwandan government minister and a senior member of an armed group for their alleged role in the conflict in the eastern Democratic Republic of Congo (DRC).



<h2 class="wp-block-heading" id="h-ivory-coast-security">IVORY COAST SECURITY</h2>



France said on Thursday it would keep 80 military personnel in Ivory Coast largely for training purposes, as it handed over control of a military base in the commercial capital amid a scaling back of its forces across West and Central Africa.



<h2 class="wp-block-heading" id="h-ivory-coast-cocoa">IVORY COAST COCOA</h2>



Ivory Coast&#8217;s cocoa grind fell 0.2% year-on-year in January to 63,225 metric tons, data from exporter association GEPEX showed on Thursday.



<h2 class="wp-block-heading" id="h-ghana-economy">GHANA ECONOMY</h2>



Ghana&#8217;s government and the labour unions have agreed to increase public servants&#8217; salaries by 10%, they said in a joint statement on Thursday, as the new administration prepares to present its budget next month.



<h2 class="wp-block-heading" id="h-niger-politics">NIGER POLITICS</h2>



A commission in military junta-led Niger has recommended a minimum five-year transition to democratic rule following national discussions, officials said.



(Compiled by Nairobi Newsroom)

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Feb 21

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3333" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/6RCXJR3LVNJQPK7SYWKC64O5XY.avif" alt="" class="wp-image-588973"/><figcaption class="wp-element-caption">China&#8217;s Foreign Minister Wang Yi speaks to the press following a meeting of the United Nations Security Council at the U.N. headquarters in New York City, U.S., February 18, 2025. REUTERS/Brendan McDermid/File Photo</figcaption></figure>



BEIJING, Feb 21 (Reuters)&nbsp;&#8211;&nbsp;China came out in support of U.S. President Donald Trump&#8217;s bid to strike a deal with Russia to end the war in Ukraine, at a G20 meeting in South Africa on Thursday, while U.S. allies rallied around Ukrainian President Volodymyr Zelenskiy.



Less than a month into his presidency, Trump has upended U.S. policy on the war, scrapping a campaign to isolate Moscow with a phone call to Russian President Vladimir Putin and talks between senior U.S. and Russian officials that have sidelined Ukraine.



Trump on Wednesday then denounced Zelenskiy as a &#8220;dictator,&#8221; prompting statements of support for the Ukrainian president from G20 members such as Australia, Germany and the United Kingdom.



&#8220;China supports all efforts conducive to peace (in Ukraine), including the recent consensus reached between the United States and Russia,&#8221; Wang Yi told other G20 foreign ministers gathered in Johannesburg, according to a statement from his ministry.



&#8220;China is willing to continue playing a constructive role in the political resolution of the crisis,&#8221; he added.



Wang did not reiterate the point he made at the Munich Security Conference last Friday that all stakeholders in the Russia-Ukraine conflict should participate in any peace talks.



&#8220;China is generally happy to see the easing of relations between the United States and Russia and the shift of the Ukrainian crisis to a political solution, but will pay close attention to the direction of negotiations and the direction of easing of U.S.-Russian relations,&#8221; said Cui Hongjian, head of European Union studies at Beijing Foreign Studies University.



&#8220;If China participates in mediation, it can reduce the risk of the United States using the easing of relations with Russia to harm China&#8217;s interests.&#8221;



He added that Wang Yi&#8217;s previous remark that all stakeholders should be included in talks covers not only Ukraine and Europe, but also China and Global South countries.



Global South countries represent developing, emerging or lower-income nations, mostly in the southern hemisphere.



However, other analysts were sceptical of China&#8217;s substantive involvement beyond rhetorical statements at this stage, given Beijing&#8217;s aversion to taking geopolitical risks.



&#8220;China is happy not to be called on the spot to deliver because they don&#8217;t know what Trump will demand,&#8221; said Alexander Gabuev, director of the Carnegie Russia Eurasia Center.



&#8220;Trump wanted China&#8217;s involvement initially but now he&#8217;s spoken to Putin. He is under the impression that he doesn&#8217;t need China to get a deal with Putin and Putin will give him a perfect and better deal going forward.&#8221;



Wang said China-Russia relations are &#8220;moving towards a higher level and broader dimension&#8221; during a meeting with Russian Foreign Minister Sergey Lavrov on the sidelines of the G20. Both men will meet in Moscow soon for their next talks, Lavrov said earlier on Thursday.



Other analysts believe that China wants to keep a foot in the door of negotiations because it wants to take part in Ukraine&#8217;s reconstruction.



&#8220;China might turn its attention to discussing a Chinese role in eventual reconstruction and peacekeeping &#8211; something that would give Beijing a significantly more vested interest in European security architecture,&#8221; said Ruby Osman, a China expert at the Tony Blair Institute for Global Change.



The Trump administration said on Tuesday it had agreed to hold more talks with Russia on ending the nearly three-year long conflict after a 4-1/2-hour long meeting in Saudi Arabia.



Russia said the talks had been useful, but hardened its demands, notably insisting it would not tolerate the NATO alliance granting membership to Ukraine.



(Reporting by Joe Cash and Laurie Chen; Editing by Sonali Paul and Michael Perry)

6RCXJR3LVNJQPK7SYWKC64O5XY

China backs Trump’s Ukraine peace bid at G20 as US allies rally behind Zelenskiy

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="473" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/QPQQ77FJE5JRTNVTB23SO7K7RM.avif" alt="" class="wp-image-568246"/><figcaption class="wp-element-caption">A view shows Nigeria&#8217;s Central Bank headquarters in Abuja, Nigeria November 22, 2020. Picture taken November 22, 2020. REUTERS/Afolabi Sotunde//File Photo</figcaption></figure>



ABUJA, Feb 20 (Reuters) &#8211; Nigeria&#8217;s central bank held its benchmark lending rate at 27.50%, its governor Olayemi Cardoso said on Thursday.



The decision follows six rate hikes last year totalling&nbsp;875 basis points&nbsp;to try to get inflation under control.



Earlier this week the statistics agency unveiled a much lower annual inflation rate of&nbsp;24.48%&nbsp;in January after a rebasing exercise.



The naira currency&nbsp;has been relatively stable since December, potentially reassuring the central bank.



(Reporting by Elisha Bala-Gbogbo and Chijioke Ohuocha; Additional reporting by Bhargav Acharya in Johannesburg and MacDonald Dzirutwe in Lagos; Editing by Alexander Winning)

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Nigeria’s central bank keeps main interest rate unchanged

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="531" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-820x531.jpg" alt="" class="wp-image-496289" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-820x531.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-300x194.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-139x90.jpg 139w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-768x497.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-1536x994.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A building of the Bank of Botswana is seen in the capital Gaborone in Botswana, in this November 26, 2015 file photo. REUTERS/Siphiwe Sibeko</figcaption></figure>



GABORONE, Feb 20 (Reuters) &#8211; Botswana&#8217;s central bank kept its monetary policy rate unchanged for the third meeting in a row at 1.90% in a decision announced on Thursday.



Inflation in the Southern African country quickened to 2.5% year on year in January, from 1.7% a month earlier.



The Bank of Botswana prefers inflation between 3% and 6% in the medium term.



Botswana&#8217;s economy is largely dependent on the export of diamonds, with a sharp downturn in global demand for the precious stone triggering an economic contraction last year.



But the government hopes the economy will rebound this year because of an improvement in the global diamond market and a better performance in other sectors.



(Reporting by Brian Benza; Additional reporting by Bhargav Acharya; Writing by Sfundo Parakozov; Editing by Alexander Winning)

File photo of building of the Bank of Botswana in the capital Gaborone in Botswana

Botswana central bank holds key rate for third consecutive meeting

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1500" height="1000" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/EZPYBC4O4FOVFK4OHFZ6JGQSCM.avif" alt="" class="wp-image-588658"/><figcaption class="wp-element-caption">South African President Cyril Ramaphosa gestures as he delivers his 2025 State of the Nation Address in Cape Town, South Africa, February 6, 2025. REUTERS/Esa Alexander/File Photo</figcaption></figure>



JOHANNESBURG, Feb 20 (Reuters) &#8211; Foreign ministers from the G20 top economies were to meet in South Africa on Thursday and Friday, amid tensions between members over the Ukraine war, trade disputes and with the top U.S. diplomat staying away owing to a feud with the hosts.



The G20 countries, which represent some 85% of global GDP and three quarters of trade, often struggle to see eye to eye, but geopolitical rifts since Russia&#8217;s 2022 Ukraine invasion have rendered it more fractious than ever.



The discord has increased since President Donald Trump took office a month ago and implemented rapid changes in Washington&#8217;s trade and foreign policies.



South Africa holds the rotating presidency of the group and for President Cyril Ramaphosa the first G20 meeting in Africa was an opportunity to get rich nations to heed poorer countries&#8217; concerns &#8211; worsening inequality, inadequate action on climate change, and a financial system that favours investment banks over poor sovereign debtors.



But the United States won&#8217;t be attending: Secretary of State Marco Rubio earlier this month rejected as &#8220;very bad&#8221; the previously agreed agenda of &#8220;diversity, equity and inclusion&#8221;.



Then Trump cut U.S. aid to South Africa in an ideological dispute with the latter&#8217;s efforts to redress historic racial injustices in land ownership &#8211; and over its genocide case against U.S. ally Israel at the International Court of Justice.



The gathering takes place as Trump has upended the U.S. policy of solidarity with Ukraine as he seeks to broker peace in its war with Russia. He has blamed President Volodymyr Zelenskiy for the conflict, and sidelined NATO allies in ending a campaign to isolate Russia.



The U.S. absence is an opportunity for China, which has the world&#8217;s second biggest economy, to expand its influence. Such efforts by Beijing are normally focused on the Global South but China has quickly sought to capitalise on the cracks in the transatlantic alliance.



Its foreign ministry said on Monday that &#8220;healthy and stable&#8221; China-EU relations are needed now more than ever.



(Reporting by Tim Cocks; Additional reporting by Nellie Peyton, Tannur Anders in Johannesburg; Editing by Frances Kerry)

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G20 foreign ministers gather amid tensions over trade, Ukraine

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg" alt="" class="wp-image-423556" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS/Thomas White/Illustration</figcaption></figure>



JOHANNESBURG, Feb 20 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand firmed slightly in early trade on Thursday, recouping some of the previous session&#8217;s losses as focus shifted from a delay in the national budget to the first meeting of G20 foreign ministers in Johannesburg.



At 0812 GMT, the rand traded at 18.4925 against the dollar, about 0.2% stronger than its previous close.



The local currency slipped on Wednesday after a last-minute postponement of the budget due to disagreements within the country&#8217;s coalition government over a proposal to hike value-added tax (VAT).



President Cyril Ramaphosa said the cabinet would work together to deliver a new budget, which is now scheduled for March 12.



South Africa, which currently has the presidency of the Group of 20 major economies, will host the first meeting of foreign ministers later on Thursday amid tensions with the U.S. over the country&#8217;s land redistribution policy and its genocide case against Israel at the World Court.



G20 finance ministers and central bank governors are due to meet next week in Cape Town.



South Africa&#8217;s benchmark 2030 government bond was slightly stronger, with the yield down 1.5 basis points to 9.165%.



(Reporting by Sfundo Parakozov; Editing by Helen Popper)

Illustration photo of South African rand

South African rand partially recoups losses, with focus on G20 meeting

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-524583" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Feb 20 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled political event, company announcement, equity and currency market moves may affect South African markets on Thursday.



<h2 class="wp-block-heading" id="h-political-events">POLITICAL EVENTS</h2>



South Africa hosts first G20 foreign ministers&#8217; meeting



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



Gold Fields&#8217; profit jumps, dividend up amid price rally



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



South Africa&#8217;s rand weakened on Wednesday after the national budget was postponed due to disagreements within the coalition government.



On the stock market, the Top-40 index closed down about 0.8%.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian shares fell sharply on Thursday, tracking choppy trading on Wall Street and a dip in European stocks as U.S. President Donald Trump&#8217;s tariff plans and a cautious stance from Federal Reserve policymakers hurt risk sentiment.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



U.S. stocks ended modestly higher on Wednesday and the S&amp;P 500 notched its second straight all-time closing high as investors scrutinized the minutes from the Federal Reserve&#8217;s January policy meeting and digested U.S. President Donald Trump&#8217;s tariff plans.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold held firm near a record high on Thursday, as investors turned to bullion for safety on fears U.S. President Donald Trump&#8217;s tariff plans would stoke inflation and a global trade war.



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; Defence department dogged by delays, old systems and outdated laws



&#8211; High drama as GNU rejects Treasury’s proposed VAT hike



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



&#8211; EU puts itself forward as &#8216;reliable, predictable&#8217; partner for South Africa



&#8211; Glencore says South Africa ferrochrome smelters may need government action to survive



(Compiled by Sfundo Parakozov)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on February 20

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



NAIROBI, Feb 20 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



*Nigeria&#8217;s central bank announces its latest lending rate decision.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian shares fell sharply on Thursday, tracking choppy trading on Wall Street and a dip in European stocks as U.S. President Donald Trump&#8217;s tariff plans and a cautious stance from Federal Reserve policymakers hurt risk sentiment.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices edged lower on Thursday after an industry report showed a build in U.S. crude stockpiles and as tariff concerns weighed on sentiment, falling back from gains made in the previous session on worries over supply disruptions in Russia.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



South Africa&#8217;s rand weakened on Wednesday after the national budget was postponed due to disagreements within the coalition government.



<h2 class="wp-block-heading" id="h-nigeria-binance">NIGERIA BINANCE</h2>



Nigeria has filed a lawsuit seeking to compel cryptocurrency exchange Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country and $2 billion in back taxes, court documents showed on Wednesday.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



Kenya&#8217;s shilling was little changed against the dollar on Wednesday, data from the London Stock Exchange Group showed.



<h2 class="wp-block-heading" id="h-kenya-tourism">KENYA TOURISM</h2>



Kenya tourism sector earnings are expected to jump to 650 billion shillings ($5 billion) this year from 452.2 billion shillings last year, Tourism Minister Rebecca Miano said on Wednesday.



<h2 class="wp-block-heading" id="h-democratic-republic-of-congo-security">DEMOCRATIC REPUBLIC OF CONGO SECURITY</h2>



Volleys of gunfire rang out in Democratic Republic of Congo&#8217;s eastern border town of Uvira on Wednesday, local sources said, as clashes broke out among allied forces amid the advance of Rwanda-backed rebels.



<h2 class="wp-block-heading" id="h-rwanda-bond">RWANDA BOND</h2>



Rwanda&#8217;s sole international government bond fell by the biggest margin since August 2022 on Wednesday, as worries over fighting in the neighbouring Democratic Republic of the Congo, where Rwanda backs M23 rebels, intensified.



<h2 class="wp-block-heading" id="h-mali-mining">MALI MINING</h2>



Canadian miner Barrick Gold has signed a new agreement with the Malian government to end an almost two-year-old dispute over its mining assets in the West African country, four people familiar with the developments told Reuters on Wednesday.



(Compiled by Nairobi Newsroom)

African Markets – Factors to watch on Feb 20

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3334" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/YHJLDZP43BMT3MATCRMZFOLZ6Q.avif" alt="" class="wp-image-588585"/><figcaption class="wp-element-caption">U.S. Secretary of the Treasury Scott Bessent speaks, at the White House, in Washington, U.S. February 3, 2025. REUTERS/Elizabeth Frantz/File Photo</figcaption></figure>



MIAMI/BERLIN, Feb 19 (Reuters)&nbsp;&#8211;&nbsp;U.S. Treasury Secretary Scott Bessent&nbsp;said on Wednesday he will&nbsp;skip next week&#8217;s meeting of finance ministers and central bank governors from the Group of 20 major economies in Cape Town, South Africa.



The decision to miss the regular gathering of finance leaders from the world&#8217;s largest economies is highly unusual for a U.S. Treasury secretary, as the U.S. often leads G20 agreements on financial and monetary policy matters.



Bessent said in a post on X that he would not attend the summit due to &#8220;obligations in Washington&#8221;. A senior official would attend in his place, he added.



He said he looked forward to seeing his global counterparts in Washington meetings of the International Monetary Fund and the World Bank in coming months.



One of the sources told Reuters that G20 member countries had been informed of Bessent&#8217;s decision not to attend. A second source said Bessent could not attend because he had &#8220;duties with the president.&#8221;



It was not immediately clear if those duties were linked to a possible summit meeting between U.S. President Donald Trump and Russian President Vladimir Putin.



Trump on Tuesday told reporters he would &#8220;probably&#8221; still meet with Putin to discuss ending the Ukraine war before the end of the month. The Kremlin echoed that hope early Wednesday, but said the meeting could happen later.



The White House and&nbsp;U.S. Treasury did not respond to&nbsp;requests for comment&nbsp;on&nbsp;Bessent&#8217;s&nbsp;plans. The New York Times first reported Bessent&#8217;s planned absence.



The G20&nbsp;group &#8211; which includes the U.S., China and Russia among others &#8211; has&nbsp;tackled a range of issues affecting the global economy,&nbsp;from responding to the COVID-19 pandemic and fighting inflation to&nbsp;dealing with&nbsp;climate change, debt&nbsp;distress and trade conflicts.



<h2 class="wp-block-heading" id="h-south-africa-tensions">SOUTH AFRICA TENSIONS</h2>



South Africa holds the G20 presidency from December 2024 to November 2025.&nbsp;The U.S. will head the group next year.



Tensions between the U.S. and South Africa have risen in recent weeks following complaints from&nbsp;Trump&nbsp;over South Africa&#8217;s land policy.



Earlier this month, Trump said that &#8220;South Africa is confiscating land&#8221; and &#8220;certain classes of people&#8221; were being treated &#8220;very badly.&#8221;



The White House said Washington would formulate a plan to resettle white South African farmers and their families as refugees, with U.S. officials to prioritize humanitarian relief for Afrikaners in South Africa, who are mostly white descendants of early Dutch and French settlers.



U.S. Secretary of State Marco Rubio subsequently canceled a trip to Johannesburg for a meeting of G20 foreign ministers on Thursday and Friday.



Mark Sobel, a former senior Treasury official, said the decision to skip the G20 gathering was a huge error.



&#8220;This was a golden opportunity for Bessent to meet his counterparts in plenary sessions and more importantly in behind-the-scenes bilaterals, including with China,&#8221; for discussions on global economic and tax policy and exchange rates, said Sobel, U.S. chair of the OMFIF think tank.



(Reporting by Andrea Shalal in Miami, Katherine Jackson in Washington and Christian Kraemer in Berlin; Additional reporting by David Lawder and Jasper Ward; Writing by David Lawder and Brendan O&#8217;Boyle; Editing by Chizu Nomiyama and Stephen Coates)

YHJLDZP43BMT3MATCRMZFOLZ6Q

US Treasury’s Bessent to skip G20 meeting in South Africa

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="570" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/P6ORFY5TKVJHVLDLKUU7XJIJNQ-1-820x570.jpg" alt="" class="wp-image-588294" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/P6ORFY5TKVJHVLDLKUU7XJIJNQ-1-820x570.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/P6ORFY5TKVJHVLDLKUU7XJIJNQ-1-300x209.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/P6ORFY5TKVJHVLDLKUU7XJIJNQ-1-129x90.jpg 129w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/P6ORFY5TKVJHVLDLKUU7XJIJNQ-1-768x534.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/P6ORFY5TKVJHVLDLKUU7XJIJNQ-1-1536x1068.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/P6ORFY5TKVJHVLDLKUU7XJIJNQ-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: South Africa&#8217;s Finance Minister Enoch Godongwana speaks during his 2024 budget speech in Cape Town, South Africa, February 21, 2024. REUTERS/Esa Alexander/File Photo</figcaption></figure>



CAPE TOWN, Feb 19 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s national budget was postponed at the last minute on Wednesday because of a disagreement between the political parties in the ruling coalition government.



The speaker of the National Assembly, Thoko Didiza, told lawmakers that the budget had never been postponed like this in the three decades since the end of apartheid.



The budget was now expected to be tabled on March 12, she added.



For the first time in the democratic era, the African National Congress (ANC) will need the support of other parties to pass the budget this year, since it lost its parliamentary majority in an election last year.



Its main partner in the coalition, the Democratic Alliance, said the budget had been postponed because of its opposition to the ANC&#8217;s proposal to increase value-added tax (VAT) by 2 percentage points.



The local rand currency extended losses after the budget was delayed, at one point trading down 1% against the dollar on the day.



The Business Day newspaper reported on Wednesday that the proposal to increase VAT was intended to plug holes in the education budget and support social spending.



The last time VAT was raised was in 2018, and opposition parties and labour unions have in recent weeks voiced strong opposition to rumours of a further increase.



Since the aftermath of the 2008-09 global financial crisis, the government of Africa&#8217;s most industrialised nation has struggled to deliver economic growth rates high enough to make a dent in inequality and unemployment.



Public debt has climbed steeply because of revenue shortfalls and runaway spending.



(Additional reporting by Olivia Kumwenda-Mtambo, Tannur Anders and Sfundo Parakozov in Pretoria;Writing by Bhargav Acharya;Editing by Alexander Winning and Aidan Lewis)

South Africa’s Finance Minister Godongwana presents 2024 budget in Cape Town

South African budget postponed over lack of agreement

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="545" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/7YSVP3V465LYDNPKSHKB2M4NNI-820x545.jpg" alt="" class="wp-image-588302" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/7YSVP3V465LYDNPKSHKB2M4NNI-820x545.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/7YSVP3V465LYDNPKSHKB2M4NNI-300x199.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/7YSVP3V465LYDNPKSHKB2M4NNI-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/7YSVP3V465LYDNPKSHKB2M4NNI-768x510.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/7YSVP3V465LYDNPKSHKB2M4NNI-1536x1020.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/7YSVP3V465LYDNPKSHKB2M4NNI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African opposition leader, John Steenhuisen of the Democratic Alliance (DA) gestures during a march against crime in Riverlea, ahead of the May 29 general elections in Johannesburg, South Africa, May 16, 2024. REUTERS/Siphiwe Sibeko/File Phot</figcaption></figure>



JOHANNESBURG, Feb 19 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s Democratic Alliance (DA) party said the 2025 budget was postponed on Wednesday due to its opposition to a 2-percentage-point increase in value-added tax (VAT) proposed by the African National Congress (ANC).



This is a developing story&#8230;



(Reporting by Bhargav Acharya;Editing by Alexander Winning)

7YSVP3V465LYDNPKSHKB2M4NNI

South Africa’s DA says budget postponed due to its opposition to VAT increase

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="635" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/4T3WKKI2JBM57JQ4UXKWWGPDLI.avif" alt="" class="wp-image-588272"/><figcaption class="wp-element-caption">Vineyards sit beneath hills at a farm near Stellenbosch, in the country&#8217;s wine producing region, South Africa, November 13, 2015. Picture taken November 13, 2015. REUTERS/Mike Hutchings/File Photo</figcaption></figure>



JOHANNESBURG, Feb 19 (Reuters) &#8211; Donald Trump&#8217;s axing of aid to South Africa, in response to land reform policies he says will harm its white minority, has raised fears a trade deal may be next, though any such move would hurt the same farmers the U.S. president says he wants to help.



Under the Africa Growth and Opportunities Act, South Africa gets tariff-free quotas on agricultural exports including wine, citrus, soybeans, sugar cane and beef. The Act makes up about a quarter of its $15 billion annual trade with the United States. That compares with under $440 million in U.S. aid, in 2023.



&#8220;It is not clear whether the exporters are Black or white; we don&#8217;t record such data,&#8221; said Wandile Sihlobo, chief economist of the Agricultural Business Chamber of South Africa, but only a tenth of farm output is from Black farmers.



&#8220;The majority of white farmers (are) likely have a significant exposure into the U.S. market,&#8221; he said.



Sihlobo said produce shipped to the United States makes up 4% of agricultural exports, equal to about $450 million a year, compared with 19% for the European Union and 38% to the rest of Africa.



But some producers, like those for citrus fruit and wine, are more exposed &#8211; the former made $134 million in 2022, 7% of the country&#8217;s total, while the U.S. is its fourth largest wine market, Sihlobo said.



&#8220;It&#8217;s not industry-ending &#8230; but it&#8217;s very unfortunate,&#8221; said Justin Chadwick, Citrus Growers Association president, estimating U.S.-bound exports at 120,000 tonnes.



&#8220;We (would have) &#8230; to find another home for that fruit &#8230; and our other markets are pretty full.&#8221;



<h2 class="wp-block-heading" id="h-unwise">&#8216;UNWISE&#8217;</h2>



The Africa Growth and Opportunities Act (AGOA) is up for review in September. Some Republicans want to punish South Africa for land reform, its genocide case against Israel and other actions such as naval exercises with Russia and China.



The U.S. State Department did not respond to a request for comment.



&#8220;We urge you to revoke South Africa&#8217;s preference benefits, under the Act, four congressmen wrote to Trump on Feb. 11, CNBC news reported.



&#8220;There&#8217;s a real likelihood that South Africa is not going to be included in a renewed AGOA,&#8221; Chatham House senior research fellow Chris Vandome, said. &#8220;It&#8217;s position is really fragile&#8221;.



Trump singled out a law that President Cyril Ramaphosa signed last month enabling land expropriation &#8211; in rare cases without compensation &#8211; after decades of voluntary purchases barely dented inequalities between a white minority who own 75% of freehold land and majority Blacks with 4%.



Some farmers say the law violates property rights. Groups defending Afrikaners, descendents of Dutch settlers who make up the largest white ethnic group and own much of privately held land, have lobbied Republican politicians for years.



&#8220;It was unwise. They&#8217;re shooting themselves in the foot,&#8221; Foreign Minister Ronald Lamola told Reuters in an interview on Monday. &#8220;If AGOA is cut, it&#8217;s a cutting of white farmers.&#8221;



But Ernst Roets, then-lobbyist for Afrikaner group Afriforum, who travelled to the States in 2018 and brought the land issue to Fox News and some Republican officials &#8211; the year Trump first took an interest in it &#8211; said he had &#8220;no regrets.&#8221;



&#8220;We&#8217;re hoping for pressure on the South African government to reconsider its destructive policy ideas,&#8221; Roets, now part of a different lobby group, said.



Not all agribusiness will lose if the Act gets chopped.



Poultry farmers struggling to &#8220;compete with dumping&#8221; of subsidised U.S. chicken imports under the Act would benefit, said Marthinus Stander, a board member of the South African Poultry Association.



(Reporting by Tim Cocks; Additional reporting by Shafiek Tassiem; Editing by Bernadette Baum)

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South Africa’s white farmers would be among victims if Trump ends growth bill

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1920" height="1005" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/4AYCAYRYPFC5LO7RDLWAFNT4NM.avif" alt="" class="wp-image-588214"/><figcaption class="wp-element-caption">Rwandan security officers escort Congolese forces who surrendered, in Gisenyi, Rwanda, January 27, 2025. REUTERS/Jean Bizimana</figcaption></figure>



NAIROBI, Feb 19 (Reuters) &#8211; Rwanda&#8217;s sole international government bond fell by the biggest margin since August 2022 on Wednesday, as worries over fighting in the neighbouring Democratic Republic of the Congo, where Rwanda backs M23 rebels, intensified.



The 1.7 cent fall in the 2031-maturing bond left it at 79 cents, its lowest level since January 2024.



Late last month, the M23 rebels seized Goma, the largest city in eastern Congo, and fighting has since spread to other areas as the group tries to capture more territory.



United Nations human rights office also accused M23 rebels on Tuesday of executing children in eastern Congo during their advance.



Rwanda&#8217;s government in Kigali meanwhile said it was suspending development co-operation with Belgium, accusing Brussels of working jointly with the Congo to &#8220;sabotage&#8221; Rwanda&#8217;s access to development finance, including from multilateral institutions.



This M23 advance is the gravest escalation in more than a decade of the long-running conflict in eastern Congo, rooted in the spillover of Rwanda&#8217;s 1994 genocide into Congo and the struggle for control of Congo&#8217;s vast minerals resources.



Rwanda rejects allegations from Congo, the UN and Western powers that it supports M23 with arms and troops. It says it is defending itself against the threat from a Hutu militia, which it says is fighting with the Congolese military.



The conflict risks driving up Rwanda&#8217;s debt costs and weakening its currency, credit ratings agency S&amp;P said earlier this month.



(Reporting by Duncan Miriri; editing by Marc Jones)

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Rwanda’s international bond plunges as concerns over M23 rebels mount

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg" alt="" class="wp-image-423556" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS/Thomas White/Illustration</figcaption></figure>



JOHANNESBURG, Feb 19 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand was little changed early on Wednesday, ahead of the 2025 national budget speech to be delivered by the finance minister.



At 0712 GMT, the rand traded at 18.4050 against the dollar, near its previous close.



Investors are keenly awaiting the budget speech at 1200 GMT by South Africa&#8217;s Finance Minister Enoch Godongwana for clues on the coalition government&#8217;s fiscal priorities, its roadmap to tackle debt and economic reforms.



&#8220;A well-received budget could push USD-ZAR below 18.3000,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.



However, he said the local currency could come under pressure over lack of reforms and concerns over spending discipline and taxation.



On the stock market, the Top-40 index was flat.



South Africa&#8217;s benchmark 2030 government bond was weaker in early trading, with the yield up 3 basis points to 9.155%.



(Reporting by Bhargav Acharya; Editing by Bernadette Baum)

South African rand steady ahead of national budget

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3333" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/PIKWK2FQQVOJXDDJQ5VEJMBXA4.avif" alt="" class="wp-image-587900"/><figcaption class="wp-element-caption">People shop at a hypermarket in Abuja, Nigeria March 15, 2022. REUTERS/Afolabi Sotunde/File Photo</figcaption></figure>



ABUJA, Feb 18 (Reuters)&nbsp;&#8211;&nbsp;Nigeria&#8217;s annual inflation rate stood at 24.48% in January, the statistics agency said on Tuesday, well down from the previous month&#8217;s figure after the country&#8217;s price index was rebased for the first time in more than a decade.



The National Bureau of Statistics said the rebasing &#8211; in which the items in the reference &#8216;basket&#8217; used to calculate inflation were reweighted and the comparison period was updated from 2009 to 2024 &#8211; was necessary to reflect changes in consumption patterns.



&#8220;The price estimate from NBS will be much more reflective of the current inflationary pressure experienced within the economy,&#8221; Statistician-General Prince Adeyemi Adeniran told a press conference.



He said the latest data should not be interpreted as reflecting a sharp slowdown in inflation. Last month, before the rebasing, the statistics bureau put December inflation at 34.80% year on year.



&#8220;It&#8217;s not saying prices have come down in the market to this rate, but the rate of change between 2024 January and 2025 January is what the inflation rate is all about,&#8221; Adeniran said.



The Consumer Price Index is meant to be rebased every five years, but that had not happened in Nigeria since 2009 due to a lack of resources.



The latest rebasing benefited from data and technical support provided by the World Bank, the International Monetary Fund and the Central Bank of Nigeria, Adeniran said.



Nevertheless, Razia Khan, chief economist for Africa and Middle East at Standard Chartered, said financial markets had not expected the rebasing would make such a big difference to the headline inflation rate.



She said January&#8217;s lower figure potentially opened the door for an interest rate cut at the central bank&#8217;s monetary policy meeting this week.



The bank raised interest rates by 875 basis points last year, as inflation was driven up by President Bola Tinubu&#8217;s moves to end subsidies and devalue the naira currency. Tinubu&#8217;s administration hopes those reforms will shore up public finances and boost economic growth.



Khan said a 25-basis-point rate cut this week would have little market impact but would at least &#8220;acknowledge local sentiment that policy has been too tight&#8221;.



Food inflation, a key driver of the headline rate, was at 26.08% year on year in January after the rebasing.



(Reporting by Elisha Bala-Gbogbo and Chijioke Ohuocha; Additional reporting by Libby George in London; Editing by Alexander Winning and Angus MacSwan)

PIKWK2FQQVOJXDDJQ5VEJMBXA4

Nigeria’s inflation rate drops after statistics overhauled and updated

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1366" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-scaled.jpg" alt="" class="wp-image-587851" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-1536x1025.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">African heads of state and delegates attend the opening of the 38th Ordinary Session of the Heads of State and Government of the African Union at the African Union Commission (AUC) headquarters in Addis Ababa, Ethiopia, February 15, 2025. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



ADDIS ABABA, Feb 18 (Reuters)&nbsp;&#8211;&nbsp;African leaders have approved the establishment of a $20 billion continental financial stability fund, the African Development Bank (AfDB) said, a move designed to stave off potential debt crises on the continent before they take hold.



The facility, known as The African Financial Stability Mechanism (AFSM), will get its own credit rating to allow it to borrow on international capital markets, the AfDB, which will host the mechanism, said in a statement seen by Reuters on Tuesday.



African leaders had called for the creation of the fund in February 2022 and mandated the AfDB to carry out preparations to set it up.



The AfDB now intends to move quickly in drafting a formal agreement and securing ratification by states, it said in the statement following an African Union summit in the Ethiopian capital over the weekend.



As well as soaring external commercial repayments and the risk of default, many economies in the region are also grappling with pressure for higher spending, sluggish government revenues, and the effects of climate change.



Creation of the facility was also partly motivated by the fact that Africa lacks its own regional financial cushion, unlike Europe and Asia, which have arrangements of this kind.



&#8220;If implemented as designed, the AFSM can save African sovereigns approximately $20 billion in debt servicing costs by 2035,&#8221; Kevin Urama, an AfDB vice president and its chief economist, told Reuters.



Membership will be voluntary and open to any African Union member country willing to participate.



&#8220;Provision has (also) been made for at least 20% of non-African members provided the African states retain the majority of membership,&#8221; the AfDB said.



African nations face a range of debt pressures, the AfDB says.



Some such as Kenya and Gabon have issued international Eurobonds in recent years and investors have at times questioned their ability to repay.



These concerns led to a steep currency depreciation in Kenya in 2023, and a rating downgrade for Gabon by Fitch last week.



The AFSM will lend money at &#8220;concessional&#8221; rates, the head of the AfDB told Reuters last month, and beneficiaries will commit to defined macroeconomic and fiscal reforms.



&#8220;The core of AFSM&#8217;s mandate is not to support the provision of bailouts to African states but to prevent them,&#8221; said the AfDB.



(Reporting by Dawit Endeshaw in Addis Ababa and Duncan Miriri in Nairobi; Editing by Ammu Kannampilly, Marc Jones and David Holmes)

MFT5KPTY55OPPPKFL2CKGKSG2E

African leaders approve creation of $20 bln financial stability fund

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4170" height="2920" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/ZM7ZQQRPDZJBLBYFPTU7SVFCM4.avif" alt="" class="wp-image-587847"/><figcaption class="wp-element-caption">Job seekers stand outside a construction site in Eikenhof, south of Johannesburg, South Africa, June 23, 2020. REUTERS/Siphiwe Sibeko/File Photo&nbsp;</figcaption></figure>



PRETORIA, Feb 18 (Reuters) &#8211; South Africa&#8217;s official unemployment rate fell in the final three months of last year, to 31.9% from 32.1% in the third quarter, data showed on Tuesday.



Unemployment&nbsp;also fell&nbsp;in the previous three-month period.



Four of the 10 industries tracked by Statistics South Africa recorded job gains in the fourth quarter of 2024, with the most jobs added in finance and manufacturing.



The number of unemployed people fell to 7.991 million in October-December last year, compared to 8.011 million in July-September.



An expanded unemployment rate, which includes those discouraged from seeking work, remained unchanged at 41.9%.



(Reporting by Kopano Gumbi; Additional reporting by Bhargav Acharya; Writing by Sfundo Parakozov; Editing by Alexander Winning)

Reuters

African Markets – Factors to watch on Feb 21

China backs Trump’s Ukraine peace bid at G20 as US allies rally behind Zelenskiy

Nigeria’s central bank keeps main interest rate unchanged

Botswana central bank holds key rate for third consecutive meeting

G20 foreign ministers gather amid tensions over trade, Ukraine

South African rand partially recoups losses, with focus on G20 meeting

South African Markets – Factors to watch on February 20

African Markets – Factors to watch on Feb 20

US Treasury’s Bessent to skip G20 meeting in South Africa

South African budget postponed over lack of agreement

South Africa’s DA says budget postponed due to its opposition to VAT increase

South Africa’s white farmers would be among victims if Trump ends growth bill

Rwanda’s international bond plunges as concerns over M23 rebels mount

South African rand steady ahead of national budget

Nigeria’s inflation rate drops after statistics overhauled and updated

African leaders approve creation of $20 bln financial stability fund

South Africa’s unemployment rate falls again in fourth quarter

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Reuters

African Markets – Factors to watch on Feb 21

China backs Trump’s Ukraine peace bid at G20 as US allies rally behind Zelenskiy

Nigeria’s central bank keeps main interest rate unchanged

Botswana central bank holds key rate for third consecutive meeting

G20 foreign ministers gather amid tensions over trade, Ukraine

South African rand partially recoups losses, with focus on G20 meeting

South African Markets – Factors to watch on February 20

African Markets – Factors to watch on Feb 20

US Treasury’s Bessent to skip G20 meeting in South Africa

South African budget postponed over lack of agreement

South Africa’s DA says budget postponed due to its opposition to VAT increase

South Africa’s white farmers would be among victims if Trump ends growth bill

Rwanda’s international bond plunges as concerns over M23 rebels mount

South African rand steady ahead of national budget

Nigeria’s inflation rate drops after statistics overhauled and updated

African leaders approve creation of $20 bln financial stability fund

South Africa’s unemployment rate falls again in fourth quarter

News Tips

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