<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/TW73TLV2SBLINDR3RCPU2BLTCE-820x547.jpg" alt="" class="wp-image-548180" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/TW73TLV2SBLINDR3RCPU2BLTCE-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/TW73TLV2SBLINDR3RCPU2BLTCE-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/TW73TLV2SBLINDR3RCPU2BLTCE-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/TW73TLV2SBLINDR3RCPU2BLTCE-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/TW73TLV2SBLINDR3RCPU2BLTCE-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/TW73TLV2SBLINDR3RCPU2BLTCE-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A view of the newly-commissioned Dangote Petroleum refinery in Ibeju-Lekki, Lagos, Nigeria May 22, 2023. REUTERS/Temilade Adelaja/File Photo</figcaption></figure>



LAGOS, Oct 30 (Reuters)&nbsp;&#8211;&nbsp;Nigeria&#8217;s Dangote oil refinery has a stockpile of 500 million litres of petrol, its billionaire founder said, countering claims by marketers who asserted they needed to supplement Dangote&#8217;s supplies with imports to meet fuel shortages.



Nigeria&#8217;s President, Bola Tinubu, had summoned oil regulators, the head of the state-owned NNPC, the finance minister, and Aliko Dangote to a meeting in Abuja on Tuesday.



The purpose was to review a policy requiring NNPC to sell crude oil to the Dangote refinery in local naira currency in an effort to ease foreign exchange pressure and help the mega refinery secure enough crude to meet its 650,000-barrel-per-day capacity.



Following the meeting, Dangote clarified that his business is not involved in retailing petrol and he should not be blamed for fuel shortages in Africa&#8217;s top oil producing country.



He also said that keeping fuel in storage tanks is costing him money.



&#8220;I expect the NNPC and marketers to stop importing. They should come and collect; we have everything they need,&#8221; said Dangote.



Two weeks ago, local fuel traders began increasing imports, claiming that the Dangote refinery was unable to meet domestic demand, exacerbating fuel shortages.



The Dangote Oil Refinery in Lagos began processing petrol in September, initially setting out to supply 25 million litres per day. The goal is to gradually increase production to 35 million litres daily, which Dangote believes will be sufficient to meet local demand.



At an oil conference in Lagos on Monday, however, the sector regulator said Nigeria’s daily petrol demand is between 45 and 50 million litres.



In a statement issued by a government spokesperson, President Tinubu urged stakeholders to focus on supplying enough petrol for local consumption to reduce dependence on imports.



He also directed them to use Afreximbank, the financial adviser for the naira crude sale scheme, as the settlement bank for naira pricing of crude and refined products.



Dangote previously had to buy crude on the international market, but it filed a complaint saying oil majors were blocking its access to locally produced oil by selling it above market price or claiming it was unavailable, forcing the refinery to rely on expensive imports.



Wale Edun, Minister of Finance and Coordinating Minister of the Economy, said the plan to sell crude in naira would remain in place, and the government would not intervene in determining the exchange rate for the oil sector.



Nigeria aims to end the importation of petroleum products once the Dangote Refinery reaches full operational capacity.



(Reporting by Isaac Anyaogu; Editing by Lincoln Feast.)

FILE PHOTO: A view of the newly-commissioned Dangote Petroleum refinery in Ibeju-Lekki, Lagos

Dangote says refinery has 500 mln litres of petrol in storage, can meet Nigeria’s demand

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="549" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-820x549.jpg" alt="" class="wp-image-425202" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-820x549.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-134x90.jpg 134w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-768x514.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-1536x1028.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African Rand coins are seen in this photo illustration . REUTERS/Mike Hutchings</figcaption></figure>



JOHANNESBURG, Oct 30 (Reuters)&nbsp;&#8211;&nbsp;The South African rand was marginally weaker in early trade on Wednesday, ahead of a keenly-awaited budget speech by the finance minister.



At 0612 GMT, the rand traded at 17.6725 against the U.S. dollar, down 0.1% on its previous close.



The mid-term budget starts around 1200 GMT and is the first under a coalition government formed after the African National Congress party lost its majority.



The coalition government has committed to lifting economic growth and making progress with reforms, boosting investor confidence and contributing to a rally in the rand and local currency debt.



&#8220;The currency market will be watching closely for signs of such reforms and structural improvements,&#8221; Commerzbank analyst Volkmar Baur said in a note.



&#8220;Nevertheless, the fiscal situation is tight and the budget will, hence, provide an insight into the government&#8217;s priorities.&#8221;



Economists polled by Reuters predict Finance Minister Enoch Godongwana will announce a lower 2024/25 budget deficit estimate than was given in February&#8217;s main budget.



But further out Godongwana faces traditional challenges, including state companies seeking bailouts and trade unions demanding above-inflation wage hikes.



South Africa&#8217;s benchmark 2030 government bond rose slightly in early deals, as the yield fell 3.5 basis points to 9.235%.



(Reporting by Alexander Winning; Editing by Savio D&#8217;Souza)

South African Rand coins are seen in this photo illustration

South African rand marginally weaker; all eyes on budget speech

<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-1076949610-612x612-1-2.jpg" alt="" class="wp-image-524623" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Oct 30 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Wednesday.



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



Medium Term Budget Policy Statement



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



South Africa&#8217;s rand was little changed on Tuesday, as investors held off from big moves ahead of a mid-term budget this week.



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



Asia shares eased on Wednesday on the back of weakness in China, as investors brace for a tightly contested U.S. election, even as Beijing tries to shore up growth.



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



The Nasdaq scored a record closing high and the S&amp;P 500 rose on Tuesday, while the Dow fell as investors digested a host of corporate earnings and awaited Google-parent Alphabet&#8217;s results that came after the market close.



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



Gold hit an all-time peak on Wednesday as investors flocked towards the safe-haven metal less than a week before the U.S. presidential election, while they awaited economic data for clues on the Federal Reserve&#8217;s rate stance. 



&#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; Steel firms fight Amsa&#8217;s call to end scrap export tax



&#8211; Transnet relaxes procurement regime to speed up execution



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



&#8211; Investec eyes bigger slice of corporate pie with new transactional banking offering



(Compiled by Alexander Winning)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Oct 30

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="350" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1040865674-612x612-1.jpg" alt="" class="wp-image-400879" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1040865674-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1040865674-612x612-1-300x172.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Stock market report. 3d illustration</figcaption></figure>



Oct 30 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.



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



The IMF&#8217;s board will consider the seventh and eighth reviews of Kenya&#8217;s lending program.



Zimbabwe finance minister Mthuli Ncube will address the media on the sidelines of an EU-Zimbabwe Financing Deal signing ceremony.



Namibia&#8217;s Finance Minister Iipumbu Shiimi is expected to table the southern African country&#8217;s mid-year budget review in the National Assembly.



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



Asia shares eased on Wednesday on the back of weakness in China, as investors brace for a tightly contested U.S. election that could have huge ramifications for the world&#8217;s second-largest economy, even as Beijing tries to shore up growth.



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



Oil prices stabilised on Wednesday on industry data showing a surprise drop in U.S. crude and gasoline inventories, following two previous sessions of losses on the prospect of hostilities easing in the Middle East.



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



South Africa&#8217;s rand was little changed on Tuesday, as investors held off from placing big moves ahead of mid-term budget announcement this week.



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



The Kenyan shilling was steady against the dollar on Tuesday as companies exchanged hard currency to make end of month payments, one trader said.



<h2 class="wp-block-heading" id="h-botswana-election">BOTSWANA ELECTION</h2>



Botswana votes on Wednesday in an election that will determine whether President Mokgweetsi Masisi secures a second term, with economic woes caused by declining diamond demand in focus.



<h2 class="wp-block-heading" id="h-kenya-finance">KENYA FINANCE</h2>



Kenya&#8217;s Supreme Court on Tuesday quashed a decision by an appeals court nullifying the 2023 finance law, a victory for the government after protests forced President William Ruto to withdraw this year&#8217;s finance bill.



<h2 class="wp-block-heading" id="h-nigeria-cenbank">NIGERIA CENBANK</h2>



Nigeria&#8217;s central bank is prepared to use any &#8220;tools at our disposal&#8221; to manage inflation, its head Olayemi Cardoso said on Tuesday.



((Compiled by Nairobi Newsroom))

Stock market report. 3d illustration

African Markets – Factors to watch on Oct 30

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-820x547.jpg" alt="" class="wp-image-548126" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/SXFLCRRB7RPNVE5MXADNSSEI74-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Umbrella for Democratic Change (UDC) supporters leave the final rally in Tlokweng, east of Gaborone, Botswana October 29, 2024. REUTERS/Thalefang Charles</figcaption></figure>



GABORONE, Oct 30 (Reuters)&nbsp;&#8211;&nbsp;Botswana started voting on Wednesday in an election that will determine whether President Mokgweetsi Masisi secures a second term, with slowing economic growth driven by declining diamond demand the central issue.



Masisi&#8217;s Botswana Democratic Party (BDP) has governed the southern African state since 1966 and remains the favourite to win despite the party&#8217;s falling popularity. Voters elect a National Assembly, with the largest party then choosing the president.



The BDP faces a fragmented opposition with its biggest challenge coming from the Umbrella for Democratic Change (UDC), a coalition led by lawyer Duma Boko. Two other parties have put forward candidates for president.



Voting started smoothly in the capital Gaborone, with long queues outside most polling stations. Over a million people are registered to vote in the country of some 2.3 million, according to the electoral commission.



BDP supporter Penny Mogale, 35, said she was voting for a continuation of entrepreneurship programmes under Masisi which she said had helped her to start a catering business.



&#8220;There are no jobs available but the government is giving us an opportunity to create jobs for ourselves. I want the party to be given a chance to continue with these initiatives,&#8221; she said.



A 26-year-old security guard at a supermarket in downtown Gaborone said he would vote for change at the end of his shift.



&#8220;We work long hours but we earn very little and the government has been refusing to raise the minimum wage,&#8221; said Teto Mosweunyane.



The opposition UDC has pledged to more than double the minimum wage from 1,500 Botswana pula ($112) per month to 4,000 pula if it wins.



Economic issues have dominated the campaign. Although Botswana is one of the wealthiest countries per capita in sub-Saharan Africa, a decline in the global diamond market saw its economic growth forecast for 2024 slashed to 1%.



Botswana is the world&#8217;s top producer by value of diamonds and has struggled to diversify its economy.



Opposition parties have criticized Masisi for the weakening growth rate as well as high levels of inequality and unemployment, while Masisi says his plans to create jobs were disrupted by the COVID-19 pandemic but remain on track.



Masisi came to power in 2018 through a planned transition after his predecessor Ian Khama served the maximum 10 years in office. He kept the job after a 2019 poll which the BDP won.



Election results are usually announced within a few days.



($1 = 13.4409 pulas)



(Reporting by Brian Benza; Writing by Nellie Peyton; Editing by Olivia Kumwenda-Mtambo, Christina Fincher and Ros Russell)

Botswana prepares for elections

Botswana heads to the polls with diamond downturn in focus

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/01/3UP4IYO7MZPNFONHCCNZJCCYTU-820x547.jpg" alt="" class="wp-image-449453" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/01/3UP4IYO7MZPNFONHCCNZJCCYTU-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/3UP4IYO7MZPNFONHCCNZJCCYTU-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/3UP4IYO7MZPNFONHCCNZJCCYTU-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/3UP4IYO7MZPNFONHCCNZJCCYTU-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/3UP4IYO7MZPNFONHCCNZJCCYTU-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/3UP4IYO7MZPNFONHCCNZJCCYTU-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Central Bank of Nigeria&#8217;s logo is seen on the headquarters building in Abuja, Nigeria January 22, 2018. REUTERS/Afolabi Sotunde/File Photo</figcaption></figure>



LONDON, Oct 29 (Reuters)&nbsp;&#8211;&nbsp;Nigeria&#8217;s central bank is prepared to use &#8220;whatever tools at our disposal&#8221; to manage inflation, its central bank chief Olayemi Cardoso said on Tuesday.



Inflation in Africa&#8217;s most populous country rose in September for the first time in three months, reaching 32.70% in annual terms, spurred by food and energy costs.



Cardoso told the FT Africa Summit in London that while he expected headline inflation to moderate in the coming months, food inflation was &#8220;proving stickier&#8221;.



He said the country &#8220;cannot tire&#8221; with its reform efforts.



(Reporting by Libby George in London; Writing by Elisha Bala-Gbogbo; Editing by Alexander Winning)

Central Bank of Nigeria’s logo is seen on the headquarters building in Abuja

Nigeria ready to use all tools to manage inflation, c.bank chief says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="540" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-820x540.jpg" alt="" class="wp-image-486141" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-820x540.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-137x90.jpg 137w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-768x506.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-1536x1012.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/YPMFQQSS3NLHLJL3LP32C774LE-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A shopper walks past a Vodacom shop in Johannesburg, file. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Oct 29 (Reuters) &#8211; South Africa&#8217;s Competition Tribunal blocked Vodacom&#8217;s proposed merger with fibre group Maziv on Tuesday, a blow for the ambitions of the country&#8217;s biggest mobile operator to expand its fibre footprint nationwide.



The Competition Tribunal, which makes the final ruling on deals, said in a statement that its reasons for the decision will be issued in due course.



Vodacom announced in 2021 that it would pay 6 billion rand ($339 million) in cash and in certain fibre assets valued at 4.2 billion rand for a 30% stake in a newly formed company called Maziv, the parent company of Dark Fibre Africa and Vumatel.



But last year the Competition Commission recommended to the tribunal that the proposed merger be prohibited on the grounds that it is likely to substantially prevent or lessen competition in several markets.



The commission said the conditions offered by the merger parties did not fully address the resultant harm to competition.



($1 = 17.7024 rand)



(Reporting by Nqobile Dludla; Editing by Jan Harvey)

FILE PHOTO: A shopper walks past a Vodacom shop in Johannesburg

South Africa blocks Vodacom’s proposed merger with Maziv

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg" alt="" class="wp-image-519304" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller counts Kenya shilling notes inside the cashier&#8217;s booth at a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Oct 29 (Reuters) &#8211; The Kenyan shilling was steady against the dollar on Tuesday as companies exchanged hard currency to make end of month payments, one trader said.



The shilling traded at 128.50/129.50 the dollar at 0818 GMT, LSEG data showed, the same as Monday&#8217;s closing rate.



(Reporting by Sonia Rao)

LYEEWJTJKRPK3GJPCKWFP3EK7E-820×429

Kenyan shilling steady on month-end payments

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/UGANDA-SHILING.jpg" alt="" class="wp-image-545991" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/UGANDA-SHILING.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/UGANDA-SHILING-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/UGANDA-SHILING-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/UGANDA-SHILING-768x512.jpg 768w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Uganda shillings. Uganda. (Photo by: Godong/Universal Images Group via Getty Images)</figcaption></figure>



KAMPALA, Oct 29 (Reuters) &#8211; The Ugandan shilling was unchanged on Tuesday, with some inflows of hard currency from non-governmental organisations (NGOs) providing support to the local unit, traders said.



At 0936 GMT commercial banks quoted the shilling at 3,660/3,670, same level as Monday&#8217;s close.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

UGANDA SHILING

Ugandan shilling stable on charity FX inflows

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GIBV5AXYRRITDJHKIN34HKNOUM-820x547.jpg" alt="" class="wp-image-547812" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GIBV5AXYRRITDJHKIN34HKNOUM-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GIBV5AXYRRITDJHKIN34HKNOUM-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GIBV5AXYRRITDJHKIN34HKNOUM-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GIBV5AXYRRITDJHKIN34HKNOUM-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GIBV5AXYRRITDJHKIN34HKNOUM-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GIBV5AXYRRITDJHKIN34HKNOUM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The logo for Google is seen at a Google store in Manhattan, New York City, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo</figcaption></figure>



LAGOS, Oct 29 (Reuters)&nbsp;&#8211;&nbsp;Nigeria based fintech Moniepoint has raised $110 million in new funding from investors including Google to scale up digital payments and banking solutions across Africa, the company said on Tuesday.



Moniepoint started operations in 2015 providing infrastructure and payment solutions for banks and financial institutions but has grown to also offer personal banking services.



The latest funding round was supported by existing investors London-based Development Partners International and private equity firm Lightrock. Google&#8217;s Africa Investment Fund and Verod Capital came in as new investors.



Sources close to the transaction said the new funding valued Moniepoint above $1 billion, giving it &#8220;unicorn&#8221; status &#8211; a term for tech firms with a valuation of a billion dollars or more.



The new capital would be used to speed up Moniepoint&#8217;s growth across Africa and build an integrated platform for businesses.



&#8220;This platform will include services such as digital payments, banking, foreign exchange (FX), credit, and business management tools, making it a one-stop shop for business solutions,&#8221; Moniepoint said.



Nigeria is the fastest growing fintech market in Africa, driven by its more than 200 million people, many who still lack access to financial services like banking.



Moniepoint started offering personal banking services in August last year.



The fintech says it processes over 800 million transactions, with a monthly value of more than $17 billion.



(Reporting by MacDonald Dzirutwe; Editing by Alison Williams)

FILE PHOTO: The logo for Google is seen at  a Google store in Manhattan, New York City, U.S.

Google among investors putting $110 million into Nigeria’s Moniepoint

<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-1076949610-612x612-1-2.jpg" alt="" class="wp-image-524623" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Oct 29 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Tuesday.



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



South Africa&#8217;s M3 money supply and private sector credit figures for September will be published.



South Africa&#8217;s government will hold its weekly auction of long-term bonds.



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



South African lender First National Bank will provide an update on its payments business.



South African mobile operator Cell C will give a business update.



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



South Africa&#8217;s rand edged lower on Monday, as investors await Wednesday&#8217;s mid-term budget review &#8211; the first under the coalition government formed in June.



On the stock market, the Top-40 index closed 0.6% higher.



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



Asian stocks were mixed in volatile trading on Tuesday as investors girded for three days of tech megacap earnings reports on Wall Street, kicking off with Google parent Alphabet later in the day.



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



Wall Street closed higher on Monday ahead of a packed week of earnings from megacap companies and the final stretch before the Nov. 5 presidential election, while sentiment improved after energy supplies were not disrupted by weekend developments in the Middle East.



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



Gold prices lingered near record highs on Tuesday, supported by uncertainty surrounding the upcoming U.S. presidential election, while investors awaited key economic data for clues on the Federal Reserve&#8217;s interest rate trajectory.



&#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; Growth-focused infrastructure investments a budget pillar, says Masondo



&#8211; SA and Ukraine visa waiver on hold &#8216;for more consultations&#8217;



(Compiled by Tannur Anders)

South African Markets – Factors to watch on Oct. 29

<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>



Oct 29 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.



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



Namibia&#8217;s Finance Minister Iipumbu Shiimi is expected to table the southern African country&#8217;s mid-year budget review in the National Assembly.



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



Asian stocks were mixed in volatile trading on Tuesday as investors girded for three days of tech megacap earnings reports on Wall Street, kicking off with Google parent Alphabet later in the day.



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



Oil prices edged up on Tuesday, after a sharp plunge in the previous session, as a U.S. plan to purchase oil for the Strategic Petroleum Reserve provided support while investors remained focused on developments in the Middle East.



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



South Africa&#8217;s rand edged lower on Monday, as investors await Wednesday&#8217;s mid-term budget review &#8211; the first under the coalition government formed in June.



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



The Kenyan shilling was steady against the dollar on Monday as international aid agencies converted foreign currency to clear expenses and pay salaries, supporting the local unit, one trader said.



<h2 class="wp-block-heading" id="h-sudan-peacekeeping">SUDAN PEACEKEEPING</h2>



United Nations Secretary-General Antonio Guterres appealed to the Security Council on Monday for its support to help protect civilians in war-torn Sudan, but said conditions are not right for deployment of a U.N. force.



<h2 class="wp-block-heading" id="h-chad-security">CHAD SECURITY</h2>



Around 40 soldiers were killed in an attack on a military base in Chad&#8217;s Lake region over the weekend, the central African country&#8217;s presidency said on Monday.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Oct 29

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/U7IY45MZ3FPMFN7YRQQBB75HS4-820x547.jpg" alt="" class="wp-image-547744" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/U7IY45MZ3FPMFN7YRQQBB75HS4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/U7IY45MZ3FPMFN7YRQQBB75HS4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/U7IY45MZ3FPMFN7YRQQBB75HS4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/U7IY45MZ3FPMFN7YRQQBB75HS4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/U7IY45MZ3FPMFN7YRQQBB75HS4-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/U7IY45MZ3FPMFN7YRQQBB75HS4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A view of the newly-commissioned Dangote petroleum refinery is pictured in Ibeju-Lekki, Lagos, Nigeria May 22, 2023. REUTERS/Temilade Adelaja/File Photo</figcaption></figure>



LAGOS, (Reuters) &#8211; Ghana could buy petroleum products from Nigeria&#8217;s Dangote Oil Refinery once the facility is operating at full capacity, cutting more expensive exports from Europe, the head of the country&#8217;s oil regulator said on Monday.



This could end monthly fuel imports from Europe of $400 million, Mustapha Abdul-Hamid, chairman of the National Petroleum Authority, Ghana said at the OTL Africa Downstream oil conference in Lagos.



&#8220;If the refinery reaches 650,000 bpd a day capacity, all that volume cannot be consumed by Nigeria alone, so instead of us importing as we do right now from Rotterdam, it will be much easier for us to import from Nigeria and I believe that will bring down our prices,&#8221; Hamid said.



The Dangote Oil refinery built by Nigerian billionaire Aliko Dangote is expected to operate at&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N3JC04R&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">near</a>&nbsp;full capacity at the end of the year and analysts believe it could be fully operational in the first quarter of 2025.



Hamid said importing from Nigeria rather than Europe would bring down the prices of other goods and services by removing freight costs. Eventually, he said African countries would agree on a common currency that should dampen demand for dollars. Ghana&#8217;s economy, which grew by 6.9% year-on-year in the second quarter of 2024, has been driven largely by a strong expansion of the extractive sector which has boosted demand for fuel.



(Reporting by Isaac Anyaogu; Editing by Susan Fenton)

FILE PHOTO: A view of the newly-commissioned Dangote petroleum refinery is pictured in Ibeju-Lekki, Lagos

Ghana eyes fuel imports from Dangote oil refinery

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/S2RIBSUDWFIIFC7QFNWKKKSNIU-820x547.jpg" alt="" class="wp-image-547511" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/S2RIBSUDWFIIFC7QFNWKKKSNIU-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/S2RIBSUDWFIIFC7QFNWKKKSNIU-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/S2RIBSUDWFIIFC7QFNWKKKSNIU-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/S2RIBSUDWFIIFC7QFNWKKKSNIU-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/S2RIBSUDWFIIFC7QFNWKKKSNIU-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/S2RIBSUDWFIIFC7QFNWKKKSNIU-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A man counts Nigerian naira notes in a market place in Yola, Nigeria, February 22, 2023. REUTERS/Esa Alexander/File Photo</figcaption></figure>



ABUJA, Oct 28 (Reuters)&nbsp;&#8211;&nbsp;The central bank of Nigeria has signed an agreement with the International Finance Corp to expand local currency financing for Nigerian businesses and cut foreign exchange risks, the agencies said in a statement on Monday.



The IFC, a World Bank Group member, aims to &#8220;significantly scale up&#8221; its financing in Nigeria, targeting over $1 billion in the coming years, the statement said.



The partnership will enable IFC to manage currency risks and increase its investments in Nigeria&#8217;s naira currency across agriculture, housing, infrastructure, energy, small and medium-sized enterprises, and the creative industry.



&#8220;Many of these sectors require local currency financing, and IFC&#8217;s partnership with the (central bank) is a key tool in expanding access,&#8221; the statement said.



(Reporting by Elisha Bala-Gbogbo; Editing by Jan Harvey)

Man counts Nigerian naira notes in a market place ahead of Nigeria’s Presidential elections in Yola

Nigeria signs funding deal with IFC to boost naira currency financing

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-820x547.jpg" alt="" class="wp-image-506008" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Ugandan shilling and US dollars in the draw at a foreign exchange currency bureau in Kampala, Uganda, on Wednesday, Aug. 16, 2023. Uganda&#8217;s central bank said it stands ready to act if the World Bank&#8217;s decision to halt new funding over the country&#8217;s passage of anti-LGBTQ legislation impacts the currency further. Photographer: Luke Dray/Bloomberg via Getty Images</figcaption></figure>



KAMPALA, Oct 28 (Reuters) &#8211; The Ugandan shilling traded flat on Monday, on the back of a general slump in appetite for hard currency across both importers and players in the interbank market, traders said.



At 0846 GMT commercial banks quoted the shilling at 3,660/3,670, same level as Friday&#8217;s close.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

Ugandan Economy Following Rate Cut

Ugandan shilling flat on slump in appetite

<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, Oct 28 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand was little changed in early trade on Monday, with Wednesday&#8217;s mid-term budget the main focal point for investors this week.



At 0720 GMT the rand traded at 17.67 against the U.S. dollar, not far from its previous close of 17.6725. The dollar was also broadly flat against a basket of global currencies.



The finance minister&#8217;s medium term budget policy statement in parliament on Wednesday gives an update on the health of public finances midway through the fiscal year. It will be the first &#8220;mini budget&#8221; under the coalition government formed in June.



A Reuters poll of economists published last week predicted the finance minister will announce a lower 2024/25 budget deficit estimate than was given in February&#8217;s main budget, but fiscal challenges are expected to slow consolidation efforts next year.



&#8220;Although this is not a policy-setting event, any indication of credible fiscal reforms would support market confidence and the rand,&#8221; Andre Cilliers, currency strategist at TreasuryONE, said in a note.



Other domestic data releases this week include September credit extension and money supply data on Tuesday, September producer inflation and trade balance data  on Thursday, and October vehicle sales figures on Friday.



South Africa&#8217;s benchmark 2030 government bond was softer in early deals, with the yield up 3 basis points to 9.315%.



(Reporting by Tannur Anders; Editing by Alexander Winning and Jan Harvey)

Illustration photo of South African rand

South African rand flat; mid-term budget the week’s highlight

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="562" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/JXOFZTDK5VI4ZELV27266DHJHM-820x562.jpg" alt="" class="wp-image-547405" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/JXOFZTDK5VI4ZELV27266DHJHM-820x562.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/JXOFZTDK5VI4ZELV27266DHJHM-300x206.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/JXOFZTDK5VI4ZELV27266DHJHM-131x90.jpg 131w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/JXOFZTDK5VI4ZELV27266DHJHM-768x526.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/JXOFZTDK5VI4ZELV27266DHJHM-1536x1052.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/JXOFZTDK5VI4ZELV27266DHJHM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Customers push trolleys as they shop at a Pick n Pay store at the Trade Route Mall, in Lenasia outside Johannesburg, South Africa, February 8, 2023. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Oct 28 (Reuters) &#8211; South African retailer Pick n Pay, which is listing its discount grocery chain Boxer in Johannesburg through an initial public offering, said on Monday that the base size of the IPO would be towards the upper end of its guidance.



Pick n Pay previously said proceeds from the IPO could be between 6 billion rand and 8 billion rand ($339 million and $452 million).



The retailer said in a statement that the Boxer IPO would include an overallotment option, which was not expected to exceed 500 million rand and would be settled through the issuance of new shares.



An overallotment option grants the underwriter the right to sell more shares than originally planned if demand proves higher than expected. It provides price stability.



The IPO is part of Pick n Pay&#8217;s two-step recapitalisation plan for much needed cash to lower its debt and fix its loss-making core Pick n Pay supermarkets business.



The group also wants Boxer to be accorded a market value which appropriately reflects its &#8220;superior&#8221; growth and return on invested capital.



&#8220;We&#8217;ve been able to obtain unsecured committed term debt and working capital facilities for the Boxer business post the IPO&#8221; from funding partners, Group Chief Finical Officer Lerena Olivier told investors.



Boxer said it has an expected gross drawn term debt of up to 850 million rand and about 2 billion rand of working capital facility.



Pick n Pay will retain a controlling stake in Boxer, Olivier added.



The company targets a dividend pay-out ratio of 40% of Boxer group headline earnings, it said.



Boxer, with 489 stores, is South Africa&#8217;s fastest growing discount grocery chain, with about 68% market share of the discount grocery retail market.



As part of its strategy to grow, Boxer is actively pursuing store expansion, including rollouts to untapped areas, developing its suite of value-added services and expanding its supply chain with additional distribution centres where necessary to support new stores, it said.



For its 2025 financial year, Boxer forecasts turnover growth of about 10%-12%, and mid-teens growth in the next three to five years. It aims to double turnover within five years, the retailer added.



In the 26 weeks ended Aug. 25, turnover rose by 12% to 19.8 billion rand, it said, while its trading profit increased by 11.8% to 809 million rand.



($1 = 17.7137 rand)



(Additional reporting by Alexander Winning; Editing by Jacqueline Wong, Janane Venkatraman and Susan Fenton)

Reuters

Dangote says refinery has 500 mln litres of petrol in storage, can meet Nigeria’s demand

South African rand marginally weaker; all eyes on budget speech

South African Markets – Factors to watch on Oct 30

African Markets – Factors to watch on Oct 30

Botswana heads to the polls with diamond downturn in focus

Nigeria ready to use all tools to manage inflation, c.bank chief says

South Africa blocks Vodacom’s proposed merger with Maziv

Kenyan shilling steady on month-end payments

Ugandan shilling stable on charity FX inflows

Google among investors putting $110 million into Nigeria’s Moniepoint

South African Markets – Factors to watch on Oct. 29

African Markets – Factors to watch on Oct 29

Ghana eyes fuel imports from Dangote oil refinery

Nigeria signs funding deal with IFC to boost naira currency financing

Ugandan shilling flat on slump in appetite

South African rand flat; mid-term budget the week’s highlight

Boxer IPO in Johannesburg could raise close to $452 million for Pick n Pay

News Tips

Advertise With Us

Reuters

Dangote says refinery has 500 mln litres of petrol in storage, can meet Nigeria’s demand

South African rand marginally weaker; all eyes on budget speech

South African Markets – Factors to watch on Oct 30

African Markets – Factors to watch on Oct 30

Botswana heads to the polls with diamond downturn in focus

Nigeria ready to use all tools to manage inflation, c.bank chief says

South Africa blocks Vodacom’s proposed merger with Maziv

Kenyan shilling steady on month-end payments

Ugandan shilling stable on charity FX inflows

Google among investors putting $110 million into Nigeria’s Moniepoint

South African Markets – Factors to watch on Oct. 29

African Markets – Factors to watch on Oct 29

Ghana eyes fuel imports from Dangote oil refinery

Nigeria signs funding deal with IFC to boost naira currency financing

Ugandan shilling flat on slump in appetite

South African rand flat; mid-term budget the week’s highlight

Boxer IPO in Johannesburg could raise close to $452 million for Pick n Pay

News Tips

Advertise With Us

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