<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, Sept 16 (Reuters) &#8211; Kenya&#8217;s shilling was steady on Monday, and was expected to gain ground, bolstered by dollar inflows from tea exporters, traders said.



Commercial banks quoted the shilling at 128.50/129.50 per dollar at 0750 GMT, same as Friday&#8217;s closing rate.



(Reporting by George Obulutsa; Editing by Bate Felix)

LYEEWJTJKRPK3GJPCKWFP3EK7E

Kenya’s shilling stable; tea sector FX inflows to boost

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="615" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-820x615.jpg" alt="" class="wp-image-523852" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-820x615.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-300x225.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-120x90.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-768x576.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI-1536x1152.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/XTUYFFOIU5I5JMOASXHMTVFSTI.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The new logo of the privatised Nigeria oil company is seen at the NNPC Mega Gas Station in Abuja, Nigeria August 30, 2022. REUTERS/Afolabi Sotunde/File Photo</figcaption></figure>



ABUJA, Sept 16 (Reuters)&nbsp;&#8211;&nbsp;Nigerian state oil firm NNPC Ltd on Monday increased the price of petrol by 11%, the second increase in two weeks and a day after it started purchasing the fuel from the giant Dangote oil refinery on the outskirts of Lagos.



Nigeria expects the 650,000 barrels per day refinery to end years of imports of gasoline, which had been subsidised for decades until President Bola Tinubu began removing support when he took office in May last year.



The price of gasoline is a sensitive issue in Nigeria because many households and small businesses use it to power generators because the majority of citizens are not connected to the national electricity grid.



On Monday, NNPC said it had increased gasoline prices from 858 naira ($0.53) a litre to 950 naira in Lagos and as high as 1,019 naira in northeastern states. It said it buys the product at 898 naira per litre from the refinery.



NNPC said it had started buying the fuel from Dangote on Sunday in U.S. dollars and that a deal to purchase gasoline in the local naira currency was still to take effect.



The latest increase is likely to add to public anger as Nigerians are already struggling with inflation of 33.4%, which has driven up transport costs and caused a cost of living crisis that led to violent protests in early August.



On Friday, a Nigerian presidential committee announced that NNPC would distribute gasoline from the $20 billion Dangote refinery to the local market, ending a deadlock that had stalled distribution.



From October NNPC will supply 385,000 barrels of crude per day to be paid for in naira by Dangote refinery, which will in turn sell its fuel in the local currency.



($1 = 1,614.2000 naira)



(Reporting by Camillus Eboh, Editing by MacDonald Dzirutwe and Louise Heavens)

XTUYFFOIU5I5JMOASXHMTVFSTI

Nigeria’s NNPC raises petrol prices again as Dangote fuel hits market

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-820x547.jpg" alt="" class="wp-image-373504" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1068x712.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1920x1280.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-600x400.jpg 600w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



JOHANNESBURG, Sept 16 (Reuters)&nbsp;&#8211;&nbsp;The South African rand gained in early trade on Monday, as markets geared up for a week packed with interest rate announcements and a local inflation print.



At 0720 GMT, the rand traded at 17.66 against the dollar, about 0.6% firmer than its previous close.



&#8220;There are many moving parts to consider this morning that will have an important role to play in determining SA&#8217;s economic future over the next few months,&#8221; said ETM Analytics in a research note.



On Wednesday, local investors will look to South Africa&#8217;s August consumer inflation figures. Consumer inflation fell to 4.6% year-on-year in July, only just above the level the South African central bank aims for, 4.5%.



Another reading near the target would further cement expectations for a rate cut from the South African Reserve Bank (SARB) on Thursday. Economist polled by Reuters predict a 25 basis point cut.



&#8220;Most of this week&#8217;s attention will fall on the SARB&#8217;s interest rate decision&#8230; However, the domestic MPC (Monetary Policy Committee) is just one of three important central banks deciding on monetary policy,&#8221; ETM Analytics added.



The U.S. Federal Reserve will announce its policy decision on Wednesday. Markets are betting the central bank of the world&#8217;s biggest economy will cut rates but are divided on the size of the cut.



The Bank of England is expected to keep its main lending rate unchanged when it announces its decision on Thursday.



South Africa&#8217;s benchmark 2030 government bond also gained in early deals, as the yield slipped 6.5 basis points to 8.85%.



(Reporting by Tannur Anders; Editing by Alex Richardson)

101416618-rand

South African rand gains, interest rates in focus this week

<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-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Sept 16 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Monday.



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



The Johannesburg Stock Exchange will release data on foreigners&#8217; buying and selling of bonds and stocks during the previous week.



South Africa&#8217;s government will hold its weekly auction for Treasury bills.



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



The South African rand firmed on Friday against a weaker dollar, as markets weighed up bets on the size of a rate cut expected in the United States on Sept. 18.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed about 0.4% up.



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



Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start of an easing cycle in the United States, with investors flirting with the chance of an outsized move.



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



Wall Street&#8217;s main indexes closed higher on Friday as investors homed in on the chance of a bigger interest rate cut by the Federal Reserve, with rate-sensitive small cap stocks outperforming.



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



Gold prices surged to record highs on Monday, driven by a softer dollar and expectations of a larger interest rate reduction by the U.S. Federal Reserve.



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



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



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



&#8211; Ramaphosa opens door to revisit NHI, tells Motsoaledi it is time to talk



&#8211; Transnet in court over multibillion-rand deal with Filipino ports giant at key Durban terminal



(Compiled by Tannur Anders; Editing by Peter Graff)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Sept 16

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="530" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-820x530.jpg" alt="" class="wp-image-433145" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-820x530.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-300x194.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-139x90.jpg 139w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-768x497.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A-1536x994.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/12/XRWAJLZOAVK3DL2J5JMRWBBQ6A.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A general view shows the Central Bank of Kenya headquarters building along Haile Selassie Avenue in Nairobi, Kenya November 28, 2018. REUTERS/Njeri Mwangi/</figcaption></figure>



NAIROBI, Sept 16 (Reuters)&nbsp;&#8211;&nbsp;The Kenyan central bank&#8217;s Monetary Policy Committee will hold its rate-setting meeting on Oct. 8, the bank said on Monday.



At its last meeting in August, the bank cut its benchmark lending rate by 25 basis points to 12.75% from 13.00% previously.



(Reporting by George Obulutsa; Editing by Kim Coghill)

XRWAJLZOAVK3DL2J5JMRWBBQ6A

Kenya central bank to hold its next rate-setting meeting on Oct 8

<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, Sept 16 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.



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



*Nigeria&#8217;s statistics office releases consumer inflation data for August.



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



Asian stocks made a cautious start on Monday in a week that is almost certain to see the start of an easing cycle in the United States with the only question mark being the size of the cut, with markets split on the chance of an outsized move.



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



Oil prices edged up in early trade on Monday amid expectations of a U.S. interest rate cut this week, though gains were capped by weaker China data and persistent demand worries.



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



The South African rand firmed on Friday against a weaker dollar, as markets weighed up bets on the size of a rate cut expected in the world&#8217;s biggest economy next week.



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



Nigerian communities are claiming 505 billion naira ($310 million) in damages from Shell, which they accuse of breaching an existing court order by striking a deal to sell its onshore assets in the Niger Delta, court papers showed on Friday.



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



The Kenyan shilling edged lower against the dollar on Friday, according to data from the London Stock Exchange Group (LSEG), though it remained within a stable range seen over the past month.



<h2 class="wp-block-heading" id="h-kenya-electricity">KENYA ELECTRICITY</h2>



Kenya has awarded a public-private partnership concession to build power transmission lines to India&#8217;s Adani Group and a unit of the African Development Bank, according to an economic advisor to the country&#8217;s president.



<h2 class="wp-block-heading" id="h-kenya-imf">KENYA IMF</h2>



A team of staff from the International Monetary Fund is visiting Kenya on a fact-finding trip, the IMF said late on Thursday, part of efforts to craft a way forward in the wake of deadly protests that scuppered the government&#8217;s planned tax hikes.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Sept 16

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/F6FVLRKWENP73DD6QLMRUYW374-820x547.jpg" alt="" class="wp-image-531175" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/F6FVLRKWENP73DD6QLMRUYW374-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/F6FVLRKWENP73DD6QLMRUYW374-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/F6FVLRKWENP73DD6QLMRUYW374-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/F6FVLRKWENP73DD6QLMRUYW374-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/F6FVLRKWENP73DD6QLMRUYW374-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/F6FVLRKWENP73DD6QLMRUYW374-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Heads of state of Mali&#8217;s Assimi Goita, Niger&#8217;s General Abdourahamane Tiani and Burkina Faso&#8217;s Captain Ibrahim Traore attend the opening of for the first ordinary summit of heads of state and governments of the Alliance of Sahel States (AES) in Niamey, Niger July 6, 2024. REUTERS/ Mahamadou Hamidou/File Photo</figcaption></figure>



BAMAKO, (Reuters) &#8211; Mali, Burkina Faso and Niger will introduce new biometric passports as part of their withdrawal from a West African bloc in favour of a new Sahel alliance after military leaders seized power in all three countries, Mali&#8217;s leader said on Sunday.



The three junta-led Sahel neighbours jointly announced in January they would leave the 15-member Economic Community of West African States (ECOWAS), which has sought to persuade them to reconsider their decision.



Burkina Faso announced earlier this month that it was rolling out new passports without the ECOWAS logo.



&#8220;In the coming days, a new biometric passport of the AES (Alliance of Sahel States) will be put into circulation with the aim of harmonising travel documents in our common area and facilitating the mobility of our citizens throughout the world&#8221;, Malian junta leader Assimi Goita announced on Sunday evening.



He spoke ahead of a meeting Monday between the three countries&#8217; foreign ministers on the anniversary of the decision to form their own alliance.



Goita also said they were planning to launch a shared information channel &#8220;in order to promote a harmonious dissemination of information in our three states.&#8221;



ECOWAS has warned that the three countries&#8217; withdrawal would undermine the freedom of movement and common market of the 400 million people living in the 49-year-old bloc.



Their departure comes as their armies battle groups linked to al Qaeda and Islamic State, whose insurgencies have destabilised the region over the past decade and threaten to spill over into coastal West African states.



(Reporting by Tiemoko Diallo and Boureima Balima in Niamey; Writing by Portia Crowe; Editing by Sandra Maler)

FILE PHOTO: Sahel junta leaders meet for a summit in Niamey

Mali, Burkina and Niger to launch biometric passports under new alliance

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="520" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/VAAETQGD25I53OKJVIONSSSY6I-820x520.jpg" alt="" class="wp-image-530190" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/VAAETQGD25I53OKJVIONSSSY6I-820x520.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/VAAETQGD25I53OKJVIONSSSY6I-300x190.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/VAAETQGD25I53OKJVIONSSSY6I-142x90.jpg 142w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/VAAETQGD25I53OKJVIONSSSY6I-768x487.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/VAAETQGD25I53OKJVIONSSSY6I-1536x974.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/VAAETQGD25I53OKJVIONSSSY6I-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A view of the logo of HSBC bank on a wall outside a branch in Mexico City, Mexico June 14, 2024. REUTERS/Henry Romero/File Photo</figcaption></figure>



Sept 13 (Reuters) &#8211; HSBC Holdings is in talks to sell its South African corporate banking business to a unit of FirstRand FSRJ.J, the country&#8217;s largest lender by market value, Bloomberg News reported on Friday, citing people with knowledge of the matter.



A deal with Rand Merchant Bank, the corporate and investment banking division of FirstRand, has not yet been&nbsp;finalised&nbsp;and there is no guarantee the transaction will close, Bloomberg reported.



No financial details were disclosed.



HSBC and FirstRand declined to comment.



HSBC entered South Africa in 1995, and today serves mainly large companies operating on the continent.



According to an earlier Bloomberg report, African, Chinese and United Arab Emirates-based bidders are interested in HSBC&#8217;s business in South Africa.



HSBC also has an equities business in South Africa that it plans to sell, Bloomberg added on Friday.



HSBC has in recent years slashed its businesses in Western markets such as the U.S., France and Canada to redirect its focus on Asia and markets where it has scale.



(Reporting by Prerna Bedi in Bengaluru; additional reporting by Radhika Anilkumar; Editing by Shilpi Majumdar, Savio D&#8217;Souza, Jonathan Oatis and Louise Heavens)

The HSBC bank logo, in Mexico City

HSBC in talks to sell South African unit to FirstRand, Bloomberg News reports

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="528" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BDNQOZYSKNKJNLIDZUC6W7K4MY-820x528.jpg" alt="" class="wp-image-530187" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BDNQOZYSKNKJNLIDZUC6W7K4MY-820x528.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BDNQOZYSKNKJNLIDZUC6W7K4MY-300x193.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BDNQOZYSKNKJNLIDZUC6W7K4MY-140x90.jpg 140w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BDNQOZYSKNKJNLIDZUC6W7K4MY-768x494.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BDNQOZYSKNKJNLIDZUC6W7K4MY-1536x988.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/BDNQOZYSKNKJNLIDZUC6W7K4MY-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Botswana President Ian Khama looks on during the Botswana-South Africa Bi-National Commission (BNC) in Pretoria, South Africa, November 11, 2016. REUTERS/Siphiwe Sibeko</figcaption></figure>



GABORONE, Sept 13 (Reuters)&nbsp;&#8211;&nbsp;Botswana&#8217;s ex-president Ian Khama appeared in court on Friday to face charges of illegally owning a gun and receiving stolen property, after returning from three years in exile ahead of an election in which his bitter rival is seeking a second term.



The magistrate suspended two arrest warrants against him on Friday for failing to turn up to answer the charges back in April 2022. Khama had been in exile, mostly in neighbouring South Africa, since late 2021.



The allegations include unlawful possession of a firearm, receiving stolen property and procuring the registration of a firearm by false pretence. The former president has denied them and says they are politically motivated.



Khama, whose father Seretse Khama was Botswana&#8217;s founding president, quit the ruling Botswana Democratic Party in 2019 after falling out with his successor President Mokgweetsi Masisi.



Khama backs the opposition Botswana Patriotic Front and had previously said he would return to Botswana to help oust the incumbent in a national election on Oct. 30.



He will next appear in court on Sept. 23, magistrate Mareledi Dipate said.



(Reporting by Brian Benza; Editing by Tim Cocks and Alison Williams)

Botswana President Ian Khama looks on during the Botswana-South Africa Bi-National Commission (BNC) in Pretoria

Botswana’s exiled ex-leader Khama returns home, court suspends warrants

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WPXJD4O4SJIPDIGFXZH6UFCJQM-820x547.jpg" alt="" class="wp-image-530184" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WPXJD4O4SJIPDIGFXZH6UFCJQM-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WPXJD4O4SJIPDIGFXZH6UFCJQM-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WPXJD4O4SJIPDIGFXZH6UFCJQM-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WPXJD4O4SJIPDIGFXZH6UFCJQM-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WPXJD4O4SJIPDIGFXZH6UFCJQM-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/WPXJD4O4SJIPDIGFXZH6UFCJQM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South Africa&#8217;s President Cyril Ramaphosa holds up the signed Basic Education Laws Amendment Bill, which aims to strengthen governance in the education sector, surrounded by Premier of Gauteng Andrek Panyaza Lesufi, Deputy Minister of Basic Education, Dr Makgabo Reginah Mhaule and provincial education leadership at the Union Buildings in Pretoria, South Africa, September 13, 2024. REUTERS/Alet Pretorius</figcaption></figure>



PRETORIA, Sept 13 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s president signed contentious education legislation into law on Friday, angering his party&#8217;s main coalition partner amid a debate centred on the integration of schools that teach in Afrikaans.



Part of the bill&nbsp;gives the education department the power to approve school boards&#8217;&nbsp;language policies, which President Cyril Ramaphosa&#8217;s African National Congress (ANC) says&nbsp;will help prevent&nbsp;discrimination.



The ANC says that students are being excluded from some schools because of the language they speak, which it says has been used as a proxy for racial exclusion.&nbsp;Afrikaans was promoted by South Africa&#8217;s white minority rulers under apartheid.



&#8220;The signing of this bill marks an important step towards resolving longstanding challenges in our education system,&#8221; Ramaphosa said at the signing ceremony at the Union Buildings, the seat of government in capital Pretoria.



Coalition partner the Democratic Alliance (DA), which has struggled to shake an image as a party of the white minority, has defended single-language schools, saying it is important for children to be taught in their mother tongue.



Shortly before the signing, it promised to fight the legislation in the courts. Earlier this week it said the bill went against the principle of consensus-building of the government of national unity and threatened the coalition.



&#8220;Primarily it&#8217;s about the use of Afrikaans as a medium of instruction, which is seen as an attempt to exclude people that are not able to speak Afrikaans,&#8221; Andre Duvenhage, a politics professor at North-West University, told Reuters.



&#8220;In a way the &#8230; legislation is an attempt at opening up these schools for all people,&#8221; he told Reuters.



The Basic Education Laws Amendment (BELA) Bill also makes one year of pre-primary school mandatory, reinforces a ban on corporal punishment in schools and regulates home-schooling.



Ramaphosa said he would allow for three months of consultation on the most controversial sections of the bill and if a solution was not reached then implementation would go ahead.&nbsp;The DA said it would pursue its court challenge.



(Reporting by Nellie Peyton; Additional Reporting by Tannur Anders; Editing by Andrew Heavens)

South Africa’s President Ramaphosa signs into law the Basic Education Laws Amendment

South Africa’s president signs contentious education bill, testing coalition

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/08/QYHOX6JU6ZP33IVMKVBRYCGM7Q-820x547.jpg" alt="" class="wp-image-426578" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/08/QYHOX6JU6ZP33IVMKVBRYCGM7Q-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/08/QYHOX6JU6ZP33IVMKVBRYCGM7Q-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/08/QYHOX6JU6ZP33IVMKVBRYCGM7Q-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/08/QYHOX6JU6ZP33IVMKVBRYCGM7Q-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/08/QYHOX6JU6ZP33IVMKVBRYCGM7Q-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/08/QYHOX6JU6ZP33IVMKVBRYCGM7Q-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The offices of Fitch Ratings building appears empty in Canary Wharf, following the outbreak of the coronavirus disease (COVID-19), London, Britain, May 27, 2020. REUTERS/Dylan Martinez/File photo</figcaption></figure>



JOHANNESBURG, Sept 13 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s National Treasury said on Friday its plan to reduce expenditure and raise revenue, while implementing critical reforms, was in progress after credit rating agency Fitch affirmed its debt rating at &#8220;BB-&#8221; with a stable outlook.



Fitch said that key drivers affecting its decision to keep South Africa below investment grade include the country&#8217;s high debt-to-GDP ratio, low growth and high levels of inequality.



The ratings agency said that the formation of a government of national unity (GNU) after the May. 29 general elections lowers short term uncertainty and that the reform programme could contribute to modestly increasing real GDP growth.



Fitch acknowledged the marked improvement in power utility Eskom&#8217;s performance this year, but highlighted that ongoing challenges at state logistics group Transnet continue to constrain growth.



South Africa&#8217;s National Treasury said in response that the government would continue to implement &#8216;Operation Vulindlela&#8217;, a programme aimed at accelerating reforms in network industries.



&#8220;Extensive reforms in energy, freight, water, and telecommunications are also in progress,&#8221; it said in a statement.



The Treasury also said that fiscal consolidation efforts would continue and further steps to reduce borrowing over the medium term were being taken.



(Reporting by Kopano Gumbi; Editing by Elaine Hardcastle)

Outbreak of the coronavirus disease (COVID-19) in London

South Africa says reform agenda in progress after Fitch affirms ratings

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/5R2BE5PG4RMMTDUCOPH2YZFV5Q-820x429.jpg" alt="" class="wp-image-530148" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/5R2BE5PG4RMMTDUCOPH2YZFV5Q-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/5R2BE5PG4RMMTDUCOPH2YZFV5Q-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/5R2BE5PG4RMMTDUCOPH2YZFV5Q-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/5R2BE5PG4RMMTDUCOPH2YZFV5Q-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/5R2BE5PG4RMMTDUCOPH2YZFV5Q-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/5R2BE5PG4RMMTDUCOPH2YZFV5Q.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Colorized transmission electron micrograph of mpox virus particles captured at the NIAID Integrated Research Facility in Fort Detrick</figcaption></figure>



DAKAR, Sept 12 (Reuters)&nbsp;&#8211;&nbsp;The Africa Centres for Disease Control and Prevention (Africa CDC) is able to raise $600 million to fight a surging mpox outbreak on the continent, the agency&#8217;s head said on Thursday.



The World Health Organization declared mpox a global health emergency in mid-August, after a new strain began spreading from the Democratic Republic of Congo to neighbouring countries.



&#8220;If you want to know if I&#8217;m positive that we can raise the $600 million, I will safely say yes,&#8221; Jean Kaseya, director general of Africa CDC, told reporters.



In August, the agency put the estimated cost of the mpox response at $245 million and said that it had secured only about $20 million. Kaseya did not say why the cost, which excludes the cost of vaccines, had increased.



Kaseya said funding could come from African Union countries, development partners, philanthropies and the private sector.



He said that international vaccine alliance GAVI had pledged assistance and Africa CDC was in discussions with The Pandemic Fund, a multilateral organisation that funds pandemic response.



Kaseya said that a transfer of technology to the continent would reduce the price of vaccines by 80%-90%.



Africa CDC said last month that talks had started with Danish biotech firm Bavarian Nordic BAVA.CO to manufacture its mpox vaccine in Africa, which Kaseya said would help make the vaccine affordable for African countries.



Kaseya will announce the amount raised at the U.N. General Assembly in New York this month.



Africa has seen over 26,000 suspected mpox cases including 724 deaths so far this year, Africa CDC data showed.



In Democratic Republic of Congo, children under 15 years account for about 60% of suspected cases and 80% of deaths this year, UNICEF said in a statement on Thursday.



(Reporting by Anait Miridzhanian; Editing by Cynthia Osterman)

5R2BE5PG4RMMTDUCOPH2YZFV5Q

Africa CDC confident it can raise $600 million for mpox response

<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, Sept 13 (Reuters) &#8211; The Ugandan shilling was broadly stable on Friday with a slight bias on the stronger side, driven by scant appetite for hard currency, traders said.



At 0923 GMT commercial banks quoted the shilling at 3,710/3,720, little-changed from Thursday&#8217;s close of 3,712/3,722.



(Reporting by Elias Biryabarema; Editing by Aaron Ross)

Ugandan Economy Following Rate Cut

Ugandan shilling stable on scant hard currency demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="425" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24.jpg" alt="" class="wp-image-498541" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24.jpg 720w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24-300x177.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/ANCK25OQIFMHTJYACOM5XU5T24-152x90.jpg 152w" sizes="auto, (max-width: 720px) 100vw, 720px" /><figcaption class="wp-element-caption">Kenya shilling coins and notes are pictured inside a 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, Sept 13 (Reuters) &#8211; The Kenyan shilling edged lower against the dollar on Friday, according to data from the London Stock Exchange Group (LSEG), though it remained within a stable range seen over the past month.



LSEG data, as of 0854 GMT on Friday, showed the Kenyan shilling trading at 128.50/129.50 to the dollar, a slight dip from Thursday&#8217;s closing rate of 128.30/129.30.



Traders forecast the shilling to remain stabile in the upcoming week, following its strong rally earlier this year. The rally was attributed to easing concerns over a potential default by the East African nation on a $2 billion Eurobond due in June.



(Reporting by Hereward Holland; Editing by Bate Felix)

ANCK25OQIFMHTJYACOM5XU5T24

Kenyan shilling inches lower versus dollar, LSEG data shows

<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, Sept 13 (Reuters)&nbsp;&#8211;&nbsp;The South African rand was little changed in early trade on Friday, as markets weighed up bets on the size of a rate cut expected in the world&#8217;s biggest economy next week.



At 0804 GMT, the rand traded at 17.7550 against the dollar, near its Thursday closing level of 17.7625.



The dollar last traded softer against a basket of peers, as investors remained on tenterhooks ahead of next week&#8217;s Federal Reserve meeting.



While markets are certain the Fed will cut rates, uncertainty around whether it will go with a 25-basis-point or 50-basis-point cut remains.



On Friday, the rand will likely track developments in the lead up to the meeting. The risk-sensitive local unit often takes direction from global drivers like U.S. monetary policy in the absence of major local data points.



Next week, local investors will focus on August consumer inflation figures on Sept. 18 and the South African Reserve Bank&#8217;s (SARB) interest rate announcement on Sept. 19. Economists polled by Reuters predict the SARB will announce a 25 basis point rate cut.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index was up about 0.3% in early trade.



South Africa&#8217;s benchmark 2030 government bond also firmed in early deals, as the yield slipped 3 basis points to 8.97%.



(Reporting by Tannur Anders; Editing by Mrigank Dhaniwala)

South African Rand coins are seen in this photo illustration

South African rand flat; markets focus on Fed rate cut next week

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-820x547.jpg" alt="" class="wp-image-423316" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/F4TO3YKQWNK6NCNXZJUQ2UEGC4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A man walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, U.S., May 10, 2018. REUTERS/Yuri Gripas/</figcaption></figure>



NAIROBI, Sept 13 (Reuters)&nbsp;&#8211;&nbsp;A team of staff from the International Monetary Fund is visiting Kenya on a fact-finding trip, the IMF said late on Thursday, part of efforts to craft a way forward in the wake of deadly protests that scuppered the government&#8217;s planned tax hikes.



President William Ruto abandoned this year&#8217;s finance bill in June, leaving the heavily indebted government with a bigger budget deficit for this financial year, mounting unpaid bills, and a delay in disbursement of IMF funding.



&#8220;This is a fact-finding mission and is part of our ongoing and constructive dialogue with the Kenyan authorities to find a balanced path forward,&#8221; Julie Kozack, the head of communications for the IMF, told a news briefing.



She did not provide more details, saying further updates will be given when the team completes its mission.



Kenya agreed a four-year loan with the IMF in 2021, and signed up for additional lending to support climate change measures in May 2023, taking its total IMF loan access to $3.6 billion.



The IMF requires regular reviews of reforms &#8211; in Kenya&#8217;s case every six months &#8211; before it releases tranches of funding.



Kenya reached a staff level agreement with the IMF in June on the seventh review of its programme, but the protest and ensuing withdrawal of the finance bill put a sign-off by the fund&#8217;s executive board, and subsequent payout, on hold.



Kenyan government officials have previously said they expect the IMF board to consider approving the disbursement of a $600 million tranche later this month, but no date has been set for a meeting to discuss this.



(Reporting by Duncan Miriri; Editing by Karin Strohecker and Christina Fincher)

FILE PHOTO: Man walks past the IMF logo at HQ in Washington

IMF staff in Kenya for fact-finding mission after protests

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/O5OSHLQ2ENJABK4UIKWVT7ANBU-820x547.jpg" alt="" class="wp-image-530080" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/O5OSHLQ2ENJABK4UIKWVT7ANBU-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/O5OSHLQ2ENJABK4UIKWVT7ANBU-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/O5OSHLQ2ENJABK4UIKWVT7ANBU-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/O5OSHLQ2ENJABK4UIKWVT7ANBU-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/O5OSHLQ2ENJABK4UIKWVT7ANBU-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/O5OSHLQ2ENJABK4UIKWVT7ANBU-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The logo of British multinational oil and gas company Shell is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo</figcaption></figure>



ABUJA, Sept 13 (Reuters) &#8211; Nigerian communities are claiming 505 billion naira ($310 million) in damages from Shell, which they accuse of breaching an existing court order by striking a deal to sell its onshore assets in the Niger Delta, court papers showed on Friday.



Shell is set to exit Nigeria&#8217;s onshore oil and gas sector after agreeing in January to sell its business to a consortium of five mostly local companies for $2.4 billion.



But more than 1,200 representatives of Ilaje communities in the Niger Delta asked the Federal High Court in Abuja to stop the deal, arguing that Shell was violating a December 2023 ruling that suspended any assets sale until a compensation lawsuit was concluded.



The community has a pending lawsuit against Shell, which it accuses of causing an oil spill that damaged waterways and farms.



Shell has long maintained that such spills were mostly due to theft of oil and interference with pipelines.



In the court papers, the community said Shell should be penalised for going ahead with asset sale &#8220;when the plaintiffs and the host of their community members have remained in perpetual suffering over the failure of the defendants to obey the preservative orders of a competent court.&#8221;



Shell did not immediately comment.



It was not immediately clear when the court would hear the case.



The oil major has faced a string of lawsuits locally and abroad from communities demanding environmental restoration or compensation for land damaged by historical oil spills.



Shell&#8217;s asset sale is yet to be approved by the energy regulator and the petroleum minister.



($1 = 1,630.0000 naira)



(Reporting by Camillus Eboh; Editing by Mark Potter)

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Ugandan shilling stable on scant hard currency demand

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South African rand flat; markets focus on Fed rate cut next week

IMF staff in Kenya for fact-finding mission after protests

Nigerian communities seek $310 mln from Shell, want asset sale stopped

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Reuters

Kenya’s shilling stable; tea sector FX inflows to boost

Nigeria’s NNPC raises petrol prices again as Dangote fuel hits market

South African rand gains, interest rates in focus this week

South African Markets – Factors to watch on Sept 16

Kenya central bank to hold its next rate-setting meeting on Oct 8

African Markets – Factors to watch on Sept 16

Mali, Burkina and Niger to launch biometric passports under new alliance

HSBC in talks to sell South African unit to FirstRand, Bloomberg News reports

Botswana’s exiled ex-leader Khama returns home, court suspends warrants

South Africa’s president signs contentious education bill, testing coalition

South Africa says reform agenda in progress after Fitch affirms ratings

Africa CDC confident it can raise $600 million for mpox response

Ugandan shilling stable on scant hard currency demand

Kenyan shilling inches lower versus dollar, LSEG data shows

South African rand flat; markets focus on Fed rate cut next week

IMF staff in Kenya for fact-finding mission after protests

Nigerian communities seek $310 mln from Shell, want asset sale stopped

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