<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg" alt="" class="wp-image-400641" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A collection of mixed denomination South African rand coins sit in an arranged photo in Johannesburg, South Africa, on Thursday, June 22, 2017. South Africas inflation rate rose for the first time this year in May after food-price growth quickened from the slowest pace since December 2015. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Aug 30 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand strengthened to a fresh 13-month high on Friday, supported by improved investor sentiment on signs the domestic economy is starting to gain momentum.



At 0935 GMT, the rand was 0.7% higher at 17.63 per dollar. It earlier hit 17.5950 against the greenback, a level not seen since late July 2023.



The rand&#8217;s gains come ahead of U.S. core personal consumption expenditure data, a key inflation reading, later on Friday that could cement bets on a Federal Reserve interest rate cut next month.



Analysts have linked recent rand strength to a structural improvement on the supply side of Africa&#8217;s most industrialised economy, with South Africa not witnessing rolling power cuts for over 150 days thanks to a big improvement in state power utility Eskom&#8217;s performance.



&#8220;There have been no power cuts in South Africa for several months, which may not sound very impressive at first, but this has not happened in South Africa for years,&#8221; Commerzbank FX analyst Volkmar Baur said in a research note.



Power cuts have hampered South Africa&#8217;s economic growth for over a decade, with outages on a record 335 days last year.



Inflation also appears to have turned a corner.



Data released on Thursday showed annual producer inflation in South Africa dropped to 4.2% in July.



July consumer inflation fell to a three-year low of 4.6%, falling close to the midpoint of the South African central bank&#8217;s 3% to 6% target range and bolstering expectations the bank will cut its main interest rate for the first time in four years next month.



Baur said lower domestic interest rates could stimulate further investment and structural improvements in the economy.



&#8220;This positive development reduces the risk premium that the foreign exchange market has placed on South Africa in recent years and strengthens the rand,&#8221; he added.



South Africa&#8217;s central bank governor Lesetja Kganyago said on Thursday that the country was getting to grips with reforms that could lift its growth potential.



On the Johannesburg Stock Exchange, the Top-40 index was down 0.4%.



(Reporting by Bhargav Acharya and Alexander Winning; Editing by Susan Fenton)

South African Economy As Inflation Rate Rises For First Time In 2017

South African rand hits new 13-month high on signs of economic turnaround

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="521" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-820x521.jpg" alt="" class="wp-image-516586" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-820x521.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-300x191.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-142x90.jpg 142w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-768x488.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI-1536x976.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RLVCCF47LVIWPJR4O2PPITYMVI.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller handles U.S. dollar banknotes and Kenya shilling banknotes inside the cashier&#8217;s booth at a forex exchange bureau in downtown Nairobi, Kenya, February 16, 2024. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Aug 30 (Reuters) &#8211; The Kenyan shilling was unchanged on Friday, with little market activity, traders said.



At 0823 GMT, LSEG data showed the shilling at 128.25/129.25 to the U.S. dollar, the same as at the close of Thursday&#8217;s session.



&#8220;We&#8217;re not seeing any interest on either side. No major tickets on bids or offers,&#8221; one trader said.



(Reporting by Hereward Holland; Editing by Alexander Winning)

RLVCCF47LVIWPJR4O2PPITYMVI

Kenyan shilling unchanged in quiet market, traders say

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/7ZNSSGJXYVLLPCVOFDAM5N2QZ4-820x547.jpg" alt="" class="wp-image-524999" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/7ZNSSGJXYVLLPCVOFDAM5N2QZ4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/7ZNSSGJXYVLLPCVOFDAM5N2QZ4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/7ZNSSGJXYVLLPCVOFDAM5N2QZ4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/7ZNSSGJXYVLLPCVOFDAM5N2QZ4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/7ZNSSGJXYVLLPCVOFDAM5N2QZ4-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/7ZNSSGJXYVLLPCVOFDAM5N2QZ4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A view shows part of Dangote oil refinery in Ibeju Lekki district, on the outskirts of Lagos, Nigeria August 7, 2019. REUTERS/Temilade Adelaja/File Photo</figcaption></figure>



LAGOS, Aug 30 (Reuters)&nbsp;&#8211;&nbsp;Nigeria&#8217;s state-owned NNPC Ltd oil company said it has started the tender process for the operation of the Warri and Kaduna refineries, which are scheduled to begin processing crude this year.



The oil refineries, which are being upgraded after being shut for several years, have the capacity to process 125,000 barrels per day (bpd) and 110,000 bpd, respectively.



Nigeria, which is Africa&#8217;s biggest oil producer, is seeking operators &#8220;to ensure reliability and sustainability towards meeting the nation&#8217;s fuel supply and energy security obligations,&#8221; NNPC said in a public notice on Thursday.



Warri and Kaduna are among state-owned refineries that have been mothballed for years, but which the government is trying to revive to end Nigeria&#8217;s reliance on imported refined products.



The tendering process for the Port Harcourt oil refinery, in the Niger Delta, opened in January and is currently ongoing, the government said.



State-owned refineries will offer an alternative to the 650,000 bpd capacity Dangote refinery, built by Africa&#8217;s richest man, Aliko Dangote, on the outskirts of Lagos. It is undergoing test runs for gasoline production, with full operation expected by mid-September.



(Reporting by Isaac Anyaogu)

FILE PHOTO: A view shows part of Dangote oil refinery in Ibeju Lekki district

Nigeria seeking operators for state-owned oil refineries

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="574" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/BMQRSYHVQ5KPZEVUFBZAFEVTYQ-820x574.jpg" alt="" class="wp-image-524996" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/BMQRSYHVQ5KPZEVUFBZAFEVTYQ-820x574.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/BMQRSYHVQ5KPZEVUFBZAFEVTYQ-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/BMQRSYHVQ5KPZEVUFBZAFEVTYQ-129x90.jpg 129w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/BMQRSYHVQ5KPZEVUFBZAFEVTYQ-768x537.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/BMQRSYHVQ5KPZEVUFBZAFEVTYQ-1536x1074.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/BMQRSYHVQ5KPZEVUFBZAFEVTYQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Delegates walk past the Transnet logo at the Investing in African Mining Indaba 2024 conference in Cape Town, South Africa February 7, 2024. REUTERS/Esa Alexander/File Photo</figcaption></figure>



CAPE TOWN, Aug 30 (Reuters)&nbsp;&#8211;&nbsp;South African state logistics group Transnet&nbsp;on Friday agreed&nbsp;a 5 billion rand ($283.53 million) loan from the New Development Bank set up by the BRICS group of emerging economies.



The loan will be guaranteed by the South African government, director general Duncan Pieterse told Reuters on the sidelines of a meeting of the New Development Bank being held in Cape Town.



Transnet is saddled with about 130 billion rand in debt and has struggled to provide adequate freight rail and port services because of equipment shortages and maintenance backlogs after years of under-investment.



Transnet&#8217;s chief executive said the money from the BRICS bank would be used for the company&#8217;s turnaround plan.



&#8220;There is lots of work to be done in Transnet, we&#8217;ve got major challenges. We need to sort it out and that&#8217;s what we need the money for,&#8221; Transnet CEO Michelle Phillips said after a signing ceremony for the loan agreement.



($1 = 17.6351 rand)



(Reporting by Wendell Roelf; Writing by Bhargav Acharya; Editing by Alexander Winning)

BMQRSYHVQ5KPZEVUFBZAFEVTYQ

South Africa’s Transnet gets 5 bln rand loan from BRICS bank

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1440" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KEKQMRCGQZMYBELW76W4QVRB5U-scaled.jpg" alt="" class="wp-image-524946" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KEKQMRCGQZMYBELW76W4QVRB5U-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KEKQMRCGQZMYBELW76W4QVRB5U-300x211.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KEKQMRCGQZMYBELW76W4QVRB5U-820x576.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KEKQMRCGQZMYBELW76W4QVRB5U-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KEKQMRCGQZMYBELW76W4QVRB5U-768x540.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KEKQMRCGQZMYBELW76W4QVRB5U-1536x1080.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: A general view shows cooling towers and reactors of the Electricite de France (EDF) nuclear power plant in Cattenom, France, June 13, 2023. REUTERS/Yves Herman/File Photo</figcaption></figure>



WASHINGTON, Aug 29 (Reuters)&nbsp;&#8211;&nbsp;Ghana on Thursday signed an agreement with a U.S. developer for a nuclear reactor using technology from NuScale Power&nbsp;SMR.N, the U.S. State Department said on Thursday, as the country seeks its first atomic power plant.



Nuclear Power Ghana and Regnum Technology Group signed the agreement to deploy a NuScale VOYGR-12 small modular reactor, or SMR, at a U.S.-Africa nuclear energy summit in Nairobi.



SMRs are smaller than today&#8217;s reactors and can be built in a factory. But there are lingering questions about whether they will ever be widespread commercially.



<h2 class="wp-block-heading" id="h-why-it-is-important">WHY IT IS IMPORTANT</h2>



The U.S. is looking to promote technologies it considers to be clean energy and sell them to developing countries. The administration of President Joe Biden believes that nuclear energy, which generates power virtually emissions free, is critical in the fight against climate change.



Nuclear power, on the other hand, produces long lasting nuclear waste.



NuScale is the only company with a license to build a U.S. SMR. Last year it canceled its only project in the U.S. amid rising costs.



<h2 class="wp-block-heading" id="h-who-was-vying-to-sign-with-ghana">WHO WAS VYING TO SIGN WITH GHANA?</h2>



Other contenders for the plant included France&#8217;s EDF, and China National Nuclear Corporation, an energy ministry official in Ghana said in May.



South Korea&#8217;s Kepco and its subsidiary Korea Hydro Nuclear Power Corporation, as well as Russia&#8217;s ROSATOM were also competing for the contract expected to span the next decade, the official said at the time.



<h2 class="wp-block-heading" id="h-key-quote">KEY QUOTE</h2>



“Ghana and many other African countries are pursuing nuclear energy to achieve their economic development, energy security, and decarbonization goals,&#8221; said Aleshia Duncan, deputy assistant secretary for international cooperation at the U.S. Department of Energy. “It’s imperative that the United States remain a strong and engaged partner, offering technical expertise and resources to ensure the successful deployment of nuclear energy across the continent.”



(Reporting by Timothy Gardner; Editing by Marguerita Choy)

FILE PHOTO: A general view shows the Electricite de France (EDF) nuclear power plant in Cattenom

Ghana signs agreement to build small NuScale nuclear reactor

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="562" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/77VC4ZKBPBPJFFYBYJIHNWEQ6I-1-820x562.jpg" alt="" class="wp-image-489318" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/77VC4ZKBPBPJFFYBYJIHNWEQ6I-1-820x562.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/77VC4ZKBPBPJFFYBYJIHNWEQ6I-1-300x206.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/77VC4ZKBPBPJFFYBYJIHNWEQ6I-1-131x90.jpg 131w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/77VC4ZKBPBPJFFYBYJIHNWEQ6I-1-768x526.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/77VC4ZKBPBPJFFYBYJIHNWEQ6I-1-1536x1052.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/77VC4ZKBPBPJFFYBYJIHNWEQ6I-1-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, Aug 29 (Reuters) &#8211; South African grocery retailer Pick n Pay said on Thursday that proceeds from listing its discount grocery chain Boxer could total 8 billion rand ($450 million), according to its preliminary estimate.



Chief Executive Sean Summers is tasked with reviving through a turnaround and two-step recapitalisation plan a retail business that has been losing market share to bigger rivals Shoprite and others for more than a decade.



A deterioration in the performance of the group&#8217;s core Pick n Pay supermarket business resulted in a substantial trading loss in the Pick n Pay division of 1.5 billion rand in its financial year that ended Feb. 25, and an overall loss at group level of 3.2 billion rand.



At the same time its net debt escalated.



In order to lower its debt and strengthen the underlying performance of its Pick n Pay Supermarkets business, the group recently raised 4 billion rand through a rights issue and will now begin the process of listing Boxer towards the end of 2024, subject to shareholder and final board approval.



Details of the number of shares in issue, price and target amount will be shared closer to the time, but &#8220;for illustrative purposes only, the share issue will generate 8 billion rand in proceeds,&#8221; the retailer said in a statement.



&#8220;The Boxer IPO (initial public offering) will also ensure that Boxer is accorded a market value that appropriately reflects its growth trajectory and return on invested capital, thereby unlocking shareholder value embedded in the Group,&#8221;&nbsp;Pick n Pay said.



($1 = 17.7700 rand)



(Reporting by Nqobile Dludla; Editing by Susan Fenton)

FILE PHOTO: Pick n Pay sales grow but warns on extra costs from power cuts

South African grocer Pick n Pay says its Boxer IPO could raise $450 mln

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-820x547.jpg" alt="" class="wp-image-404443" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling.jpg 1254w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Macro view of a screen of trading terminal with abstract financial graph and digits. Trading and forex concept. 3D Rendering</figcaption></figure>



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



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



July money supply data



Weekly inflation-linked bond auction



July trade and budget balance data



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



Northam Platinum full-year results



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



The South African rand firmed on Thursday to its strongest level in 13 months, buoyed by the return of risk appetite to financial markets ahead of key U.S. inflation data which could solidify rate cut bets in the world&#8217;s biggest economy.



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



Asian stocks rose on Friday and were poised for a solid end to August, while the dollar was staring at its worst monthly performance in nine months on the view that the Federal Reserve is all but certain to cut interest rates next month.



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



The Dow notched a record high close on Thursday in mixed trading following robust U.S. economic data, while artificial intelligence chipmaker Nvidia dropped after its largely in-line forecast failed to impress investors.



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



Gold prices eased on Friday, but were on track for a second straight month of gains on rising bets of a Federal Reserve rate cut next month, while traders awaited key U.S. inflation data for additional guidance. 



&#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; IDC says Eskom turnaround will boost foreign investments



&#8211; We want a sovereign wealth fund but not now, Ramaphosa says



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



&#8211; &#8216;Game-changing&#8217;: Kumba says its massive bet on Sishen will help ease rail pain



&#8211; New SA platinum mines &#8216;highly improbable&#8217; amid EV threat, says Implats



(Compiled by Bhargav Acharya)

Macro view of a screen of trading terminal with abstract financial graph and digits. Trading and forex concept. 3D Rendering

South African Markets – Factors to watch on Aug 30

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



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



Uganda&#8217;s Central Bank releases inflation data for August.



Kenya&#8217;s statistics office releases inflation data for August



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



Asian stocks rose on Friday and were poised for a solid end to August while the dollar was staring at its worst monthly performance in nine months, on the view that the Federal Reserve is all but certain to cut interest rates next month.



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



Oil prices inched higher on Friday as investors weighed supply concerns in the Middle East, although signs of weakened demand limited gains.



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



The South African rand firmed on Thursday to its strongest level in 13 months, buoyed by the return of risk appetite to financial markets ahead of key U.S. inflation data which could solidify rate cut bets in the world&#8217;s biggest economy.



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



Kenya&#8217;s currency is forecast to remain stable in the next week to Thursday, Ghana&#8217;s and Zambia&#8217;s could be under pressure, and Uganda&#8217;s may strengthen, traders said.



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



The Kenyan shilling was flat on Thursday, as month-end hard-currency demand from the manufacturing sector was offset by foreign investor inflows for the local bond market, traders said.



<h2 class="wp-block-heading" id="h-liberia-mining">LIBERIA MINING</h2>



Liberia&#8217;s Environmental Protection Agency shut down on Wednesday the operations of China Union&#8217;s iron ore Bong Mines for violating several environmental regulations, the regulatory agency said on Thursday.



<h2 class="wp-block-heading" id="h-nigeria-floods">NIGERIA FLOODS</h2>



At least 179 people have died and tens of thousands been displaced in weeks of flooding in Nigeria, the National Emergency Management Agency said on Thursday.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Aug 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/2024/08/OV2PC52TJZNG5PW4JK4QPO2EU4-820x547.jpg" alt="" class="wp-image-524908" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/OV2PC52TJZNG5PW4JK4QPO2EU4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/OV2PC52TJZNG5PW4JK4QPO2EU4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/OV2PC52TJZNG5PW4JK4QPO2EU4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/OV2PC52TJZNG5PW4JK4QPO2EU4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/OV2PC52TJZNG5PW4JK4QPO2EU4-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/OV2PC52TJZNG5PW4JK4QPO2EU4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. REUTERS/Andrew Kelly</figcaption></figure>



Aug 29 (Reuters)&nbsp;&#8211;&nbsp;The U.S. Food and Drug Administration (FDA) has approved expanded use of Emergent BioSolutions&#8217;&nbsp;EBS.N&nbsp;ACAM2000 smallpox vaccine to include people at high risk for mpox infection, the company said on Thursday.



Earlier this month, the World Health Organization declared mpox a global public health emergency for the second time in two years as a new variant of the virus, known as clade Ib, spread rapidly in Africa.



The FDA&#8217;s approval follows Emergent&#8217;s application for an Emergency Use Listing of ACAM2000 vaccine with the WHO.



Emergent last week said it would donate 50,000 doses of its smallpox vaccine to the Democratic Republic of the Congo and other impacted countries of Burundi, Kenya, Rwanda and Uganda to address the mpox outbreak.



According to the U.S. Centers for Disease Control and Prevention, ACAM2000 has more known side effects and risks than Danish biotech Bavarian Nordic A/S&#8217;s&nbsp;BAVA.CO&nbsp;Jynneos vaccine, which is approved in the United States for both smallpox and mpox.



ACAM2000 &#8211; a live, replicating virus vaccine &#8211; is known to cause myocarditis/pericarditis &#8211; swelling in or around the heart muscle &#8211; in 1 in 175 new ACAM2000 vaccine recipients, according to the FDA.



(Reporting by Shivani Tanna in Bengaluru; Editing by Maju Samuel and Subhranshu Sahu)

FILE PHOTO: Signage is seen outside of FDA headquarters in White Oak, Maryland

US FDA approves Emergent’s smallpox vaccine for people at high risk of mpox

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="471" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/SA-INFLATION.avif" alt="" class="wp-image-524647"/><figcaption class="wp-element-caption">Shoppers look for items as they shop at an outlet of retailer Checkers in Sandton City mall, in Sandton, South Africa, August 28, 2024. REUTERS/Lelethu Madikane </figcaption></figure>



JOHANNESBURG, Aug 29 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s producer inflation fell to 4.2% year on year in July from 4.6% in June, statistics agency data showed on Thursday.



On a month-on-month basis, the Producer Price Index was at -0.2% in July versus -0.3% in June, Statistics South Africa said.



(Reporting by Bhargav Acharya and Tannur AndersEditing by Alexander Winning)

SA INFLATION

South Africa producer inflation falls to 4.2% y/y in July

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING.jpg" alt="" class="wp-image-524644" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING-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, Aug 29 (Reuters)&nbsp;&#8211;&nbsp;The Ugandan shilling&nbsp;UGX=&nbsp;was little-changed on Thursday, with some inflows of dollars from offshore investors who participated in this week&#8217;s Treasury auction giving support, traders said.



At 1046 GMT, commercial banks quoted the shilling at 3,710/3,720, compared with Wednesday&#8217;s closing rate of 3,712/3,722.



(Reporting by Elias Biryabarema;Editing by George Obulutsa)

UGANDA SHILLING

Ugandan shilling steady, offshore investor FX flows offer support

<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/Impala-chief-sees-no-new-platinum-mines-built-in-South-Africa-amid-EV-threat-820x615.jpg" alt="" class="wp-image-524604" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Impala-chief-sees-no-new-platinum-mines-built-in-South-Africa-amid-EV-threat-820x615.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Impala-chief-sees-no-new-platinum-mines-built-in-South-Africa-amid-EV-threat-300x225.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Impala-chief-sees-no-new-platinum-mines-built-in-South-Africa-amid-EV-threat-120x90.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Impala-chief-sees-no-new-platinum-mines-built-in-South-Africa-amid-EV-threat-768x576.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Impala-chief-sees-no-new-platinum-mines-built-in-South-Africa-amid-EV-threat-1536x1152.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Impala-chief-sees-no-new-platinum-mines-built-in-South-Africa-amid-EV-threat-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">An aerial view of Shaft 11 at Impala Platinum Mine, in Rustenburg, South Africa, November 28, 2023. REUTERS/Shafiek Tassiem/File Photo</figcaption></figure>



JOHANNESBURG, Aug 29 (Reuters)&nbsp;&#8211;&nbsp;Impala Platinum&nbsp;IMPJ.J&nbsp;sees little prospect of new platinum mines being built in South Africa as the industry struggles with a&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N3JU24E&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">price slump</a>, its Chief Executive Nico Muller said on Thursday.



Johannesburg-based Impala said projects it had halted in South Africa and Zimbabwe were unlikely to be revived due to the growing market for&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N3FE9AH&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">electric vehicles</a>&nbsp;&#8211; which don&#8217;t need platinum-group catalysts in their engines.



&#8220;It&#8217;s highly improbable that you&#8217;re going to see material investment in new PGMs (platinum group metals) production in South Africa,&#8221; Muller said on a media call.



Impala, which has mines in South Africa, Zimbabwe and Canada, is curbing new investment after headline earnings in the year through June 30 plunged 87% to 2.4 billion rand ($135.4 million).



Impala has also shortened the life of its Canadian palladium operations due to a slump in prices and Muller said investors were balking at spending on new mines, which take as many as 20 years to build.



Platinum, of which South Africa is the world&#8217;s top supplier, and palladium prices will&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N3JE1U4&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">continue to hover below</a>&nbsp;$1,000 an ounce this year due to overstocking, according to a Reuters poll.



Platinum was trading around $940.85 an ounce and palladium at $946.16 on Thursday.



Platinum miners are bound by antitrust rules which prohibit them from voluntarily cutting output to stimulate prices, Muller said.



&#8220;We are not (as an industry) in a position where we can sit around a cigar table and agree to cut production in order to rebalance the market,&#8221; the CEO said. &#8220;That is the dilemma we sit with.&#8221;



The industry&#8217;s plight also reflects &#8220;the long-term state of electrification (of vehicles)&#8221;, Muller said.



&#8220;I&#8217;m not convinced that any shareholder or company is going to see a clear and attractive return for development in new assets,&#8221; he added.



Impala will place its Two Rivers project on &#8220;care and maintenance&#8221; after halting a planned 5.7 billion rand investment, in addition to spending curbs at the North Hill project in Zimbabwe where a $134 million investment was initially planned, and job cuts in South Africa.



($1 = 17.7210 rand)



(Reporting by Nelson Banya and Felix Njini in Johannesburg; Editing by Helen Popper and David Holmes)

An aerial view of Shaft 11 at Impala Platinum Mine, in Rustenburg

Impala chief sees no new platinum mines built in South Africa amid EV threat

<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, Aug 29 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcements, equity and currency market moves may affect South African markets on Thursday.



ECONOMIC EVENT



South Africa July PPI



COMPANIES



Platinum giant Impala halts new mine expansion as&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N3KG04Z&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">profit plunges</a>



Amazon AWS summit in Johannesburg, South Africa



SOUTH AFRICAN MARKETS



The South African rand weakened on Wednesday ahead of economic data releases towards the end of the week.



On the stock market, the Top-40&nbsp;.JTOPI&nbsp;index closed about 0.74% down.&nbsp;.JZAR/



GLOBAL MARKETS



Asian shares followed Wall Street futures lower on Thursday as Nvidia&#8217;s results disappointed some bullish investors, while the dollar steadied and the Treasury yield curve came within a whisker of turning positive.&nbsp;MKTS/GLOB



WALL STREET



U.S. stocks fell on Wednesday ahead of a quarterly report from Nvidia, Wall Street&#8217;s centerpiece event of the week that could shatter or add fresh fuel to a rally driven by optimism around artificial intelligence.&nbsp;.N



GOLD



Gold prices edged up on Thursday, aided by a weaker dollar and hopes of a Federal Reserve interest rate cut, while focus turned to a key U.S. inflation print.&nbsp;GOL/



EMERGING MARKETS



For the top emerging markets news, double click on&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3ATOPEMRG&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



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



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



BUSINESS DAY



&#8211; Gold Fields ‘warned about procurement missteps’ at South Deep



&#8211; Transnet secures parts for idle locomotives



(Compiled by Bhargav Acharya)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Aug 29

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="471" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/shilling-1.avif" alt="A teller counts Kenya shilling notes inside the cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo" class="wp-image-524625"/></figure>



NAIROBI, Aug 29 (Reuters) &#8211; The Kenyan shilling KES= was flat on Thursday, as month-end hard-currency demand from the manufacturing sector was offset by foreign investor inflows for the local bond market, traders said. At 0835 GMT, LSEG data showed the shilling at 128.25/129.25 to the U.S. dollar, the same as at the close of Wednesday&#8217;s session. &#8220;It&#8217;s very stable. Demand and supply seem to be evenly matched. There&#8217;s been some good (FX) demand but offshore flows are coming for the infrastructure bond,&#8221; one trader said. The shilling has been relatively steady for several months, after rallying strongly in the first half of 2024 as concerns eased that the East African country would default on a $2 billion Eurobond that matured in June. (Reporting by Hereward HollandEditing by Alexander Winning)

shilling

Kenyan shilling flat as FX inflows meet manufacturing demand

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="482" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/03/107322262-16981550392023-10-24t134236z_46329598_rc2nu3aqwna3_rtrmadp_0_china-economy-bonds-820x482.jpeg" alt="" class="wp-image-462538" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/03/107322262-16981550392023-10-24t134236z_46329598_rc2nu3aqwna3_rtrmadp_0_china-economy-bonds-820x482.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/107322262-16981550392023-10-24t134236z_46329598_rc2nu3aqwna3_rtrmadp_0_china-economy-bonds-300x176.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/107322262-16981550392023-10-24t134236z_46329598_rc2nu3aqwna3_rtrmadp_0_china-economy-bonds-153x90.jpeg 153w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/107322262-16981550392023-10-24t134236z_46329598_rc2nu3aqwna3_rtrmadp_0_china-economy-bonds-768x452.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/107322262-16981550392023-10-24t134236z_46329598_rc2nu3aqwna3_rtrmadp_0_china-economy-bonds-1536x904.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/107322262-16981550392023-10-24t134236z_46329598_rc2nu3aqwna3_rtrmadp_0_china-economy-bonds.jpeg 1700w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A Chinese flag flutters on top of the Great Hall of the People ahead of the opening ceremony of the Belt and Road Forum (BRF), to mark 10th anniversary of the Belt and Road Initiative, in Beijing, China October 18, 2023.
Edgar Su | Reuters</figcaption></figure>



NAIROBI, Aug 29 (Reuters)&nbsp;&#8211;&nbsp;Chinese lenders approved loans worth $4.61 billion to Africa last year, marking the first annual increase since 2016, an independent study showed on Thursday.



Africa secured more than $10 billion in loans a year from China between 2012-2018, thanks to President Xi Jinping&#8217;s Belt and Road Initiative (BRI), but the lending fell precipitously from the start of the COVID-19 pandemic in 2020.



Last year&#8217;s figure, a more than three-fold increase from 2022, shows China is keen to curb risks associated with highly indebted economies, the study by Boston University&#8217;s Global Development Policy Centre found.



&#8220;Beijing appears to be looking for a more sustainable equilibrium level of lending and experimenting with a (new) strategy,&#8221; said the university centre, which runs the Chinese Loans to Africa Database project.



The new data comes as Beijing prepares to host African leaders next week for the Forum on China-Africa Cooperation, which takes place every three years.



There were 13 loan deals last year involving eight African countries and two African multilateral lenders, the study found.



Last year&#8217;s biggest items include a nearly $1 billion loan from China Development Bank to Nigeria for the&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AS8N362039&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Kaduna-to-Kano</a>&nbsp;Railway and similar size&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AP8N3BH07A&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">liquidity facility</a>&nbsp;by the lender to Egypt&#8217;s central bank.



China has vaulted to the top bilateral lender for many African nations like Ethiopia in recent years.



It has lent the continent a total of $182.28 billion between 2000-2023, the Boston University study found, with the bulk of the finances going to Africa&#8217;s energy, transport and ICT sectors.



Africa featured prominently in the initial years of BRI, as China sought to recreate the ancient Silk Road and extend its geopolitical and economic influence through a global infrastructure development push.



China, however, started to turn off the cash spigot in 2019, a shift that was accelerated by the pandemic, leaving a series of incomplete projects around the region, including a modern railway meant to link Kenya with its neighbours.



The reduction in loans was caused by China&#8217;s own domestic pressures and growing debt burdens among African economies. Zambia, Ghana and Ethiopia have gone into protracted debt overhauls since 2021.



More than half of the loans committed last year, or $2.59 billion, were to regional and national lenders, underscoring Beijing&#8217;s new strategy, the study by Boston University found.



&#8220;Chinese lenders&#8217; focus on African financial institutions most likely represent a risk mitigation strategy that avoids exposure to African countries&#8217; debt challenges,&#8221; it said.



Nearly a tenth of 2023 loans were for three solar and hydropower energy projects, the study found, illustrating a desire by China to move into funding renewable energy instead of coal-fired power plants.



Still, the discernible trends in last year&#8217;s figures did not offer a clear direction of China&#8217;s financial engagement with the continent, the study showed, since Chinese institutions also wrote loans to ailing economies like Nigeria and Angola.



&#8220;It remains to be seen whether China&#8217;s partnerships in Africa will retain their quality,&#8221; the Global Development Policy Centre said.



China&#8217;s loans to Africa rise in 2023&nbsp;<a href="https://reut.rs/3yZjZJH" target="_blank" rel="noreferrer noopener">https://reut.rs/3yZjZJH</a>



(Reporting by Duncan Miriri, editing by Karin Strohecker and Angus MacSwan)

107322262-16981550392023-10-24t134236z_46329598_rc2nu3aqwna3_rtrmadp_0_china-economy-bonds

China’s lending to Africa rises for first time in seven years, study shows

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-820x429.jpg" alt="" class="wp-image-506011" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller serves a client with Kenya shilling notes at the cashier&#8217;s booth of a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Aug 28 (Reuters) &#8211; The Kenyan shilling strengthened a little on Wednesday, with foreign exchange inflows from tea exporters slightly outweighing month-end demand from the manufacturing sector, traders said.



At 0935 GMT, LSEG data showed the shilling at 128.25/129.25 to the U.S. dollar, compared to 128.50/129.50 at the close of Tuesday&#8217;s session.



&#8220;The major (foreign-currency) supply is from our agricultural sector. Also the central bank is in the market, buying dollars to prevent volatility,&#8221; one trader said.



(Reporting by Hereward Holland; Editing by Alexander Winning)

HCVRNAVJRJMOJBUK4XOB7PEJGY

Kenyan shilling strengthens slightly on tea exporter 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/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, Aug 28 (Reuters)&nbsp;&#8211;&nbsp;The South African rand slipped early on Wednesday, ahead of economic data releases towards the end of the week.



The rand was at 17.7875 against the dollar by 0744 GMT, 0.4% weaker than its previous close.



The dollar index showing its performance against a basket of currencies, was last up 0.18%.



South African investors are awaiting July producer inflation data on Thursday and money supply, trade and budget balance figures on Friday for the latest indications on the health of the domestic economy.



Global market focus this week will be on a preliminary estimate for U.S. gross domestic product in the second quarter and the core personal consumption expenditures (PCE) index, the U.S. Federal Reserve&#8217;s preferred inflation measure.



The rand, like most emerging market currencies, tends to track international moves as well as local economic events.



On the stock market, the Top-40 index was down about 0.2%.



South Africa&#8217;s benchmark 2030 government bond was marginally weaker in early deals, with the yield up 0.5 basis point at 9.120%.



(Reporting by Bhargav Acharya; Editing by David Goodman)

Reuters

South African rand hits new 13-month high on signs of economic turnaround

Kenyan shilling unchanged in quiet market, traders say

Nigeria seeking operators for state-owned oil refineries

South Africa’s Transnet gets 5 bln rand loan from BRICS bank

Ghana signs agreement to build small NuScale nuclear reactor

South African grocer Pick n Pay says its Boxer IPO could raise $450 mln

South African Markets – Factors to watch on Aug 30

African Markets – Factors to watch on Aug 30

US FDA approves Emergent’s smallpox vaccine for people at high risk of mpox

South Africa producer inflation falls to 4.2% y/y in July

Ugandan shilling steady, offshore investor FX flows offer support

Impala chief sees no new platinum mines built in South Africa amid EV threat

South African Markets – Factors to watch on Aug 29

Kenyan shilling flat as FX inflows meet manufacturing demand

China’s lending to Africa rises for first time in seven years, study shows

Kenyan shilling strengthens slightly on tea exporter FX inflows

South African rand slips ahead of domestic data releases

News Tips

Advertise With Us

Reuters

South African rand hits new 13-month high on signs of economic turnaround

Kenyan shilling unchanged in quiet market, traders say

Nigeria seeking operators for state-owned oil refineries

South Africa’s Transnet gets 5 bln rand loan from BRICS bank

Ghana signs agreement to build small NuScale nuclear reactor

South African grocer Pick n Pay says its Boxer IPO could raise $450 mln

South African Markets – Factors to watch on Aug 30

African Markets – Factors to watch on Aug 30

US FDA approves Emergent’s smallpox vaccine for people at high risk of mpox

South Africa producer inflation falls to 4.2% y/y in July

Ugandan shilling steady, offshore investor FX flows offer support

Impala chief sees no new platinum mines built in South Africa amid EV threat

South African Markets – Factors to watch on Aug 29

Kenyan shilling flat as FX inflows meet manufacturing demand

China’s lending to Africa rises for first time in seven years, study shows

Kenyan shilling strengthens slightly on tea exporter FX inflows

South African rand slips ahead of domestic data releases

News Tips

Advertise With Us

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