<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3303" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/SIJQKYZGPNOYTMR2KBTSYHWFOE.avif" alt="" class="wp-image-567387"/><figcaption class="wp-element-caption">General view of buildings in the capital, Maputo, Mozambique, September 1, 2019. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



CAPE TOWN, Dec 18 (Reuters)&nbsp;&#8211;&nbsp;Mozambique&#8217;s 2024 economic growth is likely to be revised down from a previous forecast of 4.3% due to post-election civil unrest and the impact of Cyclone Chido, a senior International Monetary Fund (IMF) official said.



In October, Daniel Chapo, the candidate of Mozambique&#8217;s ruling party Frelimo, was declared winner of the presidential election that opposition parties say was marred by voting irregularities.



The disputed election results sparked protests from opposition supporters and there has been more violence since. The unrest has affected business operations, including for mining companies, and has at times led to the closure of key trade corridors.



Mozambique&#8217;s Constitutional Council is expected to rule on the validity of the election count on Dec. 23, an outcome civil society organisations and analysts fear may trigger more violence and economic disruption if Frelimo&#8217;s victory is upheld.



&#8220;Growth went from 4.5% in the second quarter to 3.7% in the third quarter, before the protests started,&#8221; Olamide Harrison, the IMF&#8217;s Mozambique resident representative, told Reuters.



&#8220;In the context of protests, and natural disasters, we expect a further slowdown in the fourth quarter followed by a modest rebound in 2025,&#8221; he said.



Harrison said the IMF deeply regretted the loss of lives during the protests, adding that it was a &#8220;difficult situation&#8221; the lender was closely monitoring.



Cyclone Chido, which made landfall in northern Mozambique over the weekend killing at least 34 people, has also dampened growth prospects, he said.



Harrison said negotiations for a three-year credit facility programme between the IMF and Mozambican authorities will resume once a political transition is complete.



&#8220;We wait until the new government is in place and then we resume negotiations,&#8221; he said of a process typically followed when there is a political transition during an ongoing IMF lending arrangement.



(Reporting by Wendell Roelf; Editing by Olivia Kumwenda-Mtambo and Angus MacSwan)

SIJQKYZGPNOYTMR2KBTSYHWFOE

Mozambique’s post-election unrest to hit economic growth, says IMF official

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4564" height="2776" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/7ASWQJJB7FJFVDHIOUFPVXUYDA.avif" alt="" class="wp-image-567383"/><figcaption class="wp-element-caption">A technician works on the cables of a high voltage electricity transmission pylon from the Kiambere hydroelectric dam in Embakasi district of Nairobi, Kenya January 12, 2022. REUTERS/Monicah Mwangi/File Photo</figcaption></figure>



NAIROBI, Dec 18 (Reuters) &#8211; Kenya suffered a widespread power outage on Wednesday that affected most of the country, with electricity supply restored about six hours later, the nation&#8217;s leading power utility Kenya Power said.



The cause of the outage in East Africa&#8217;s largest economy, which was first reported at 1:28 a.m. local time (1028 GMT), has yet to be determined, Kenya Power said in a post on social media platform X.



As of 7:35 a.m. local time (0435 GMT), power had been restored in the areas where it had gone off, the company said.



Wednesday&#8217;s outage was the latest in a series of recurring power outages the country has faced over the past year.



Kenya Power supplies power to more than 9.6 million customers in Kenya, according to its website.



The blackout has significantly reduced internet connectivity across the country, said Netblocks, a global observatory that monitors internet access.



The outage also affected neighbouring Tanzania, the observatory added in a post on X.



(Writing by Bate Felix and George Obulutsa; Editing by Nicholas Yong and Abinaya Vijayaraghavan)

7ASWQJJB7FJFVDHIOUFPVXUYDA

Power supply restored after major outage hits Kenya, affects internet access

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/OJZAWNCDYNP53FRARPVL4BQUAI-820x547.jpg" alt="" class="wp-image-567071" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/OJZAWNCDYNP53FRARPVL4BQUAI-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/OJZAWNCDYNP53FRARPVL4BQUAI-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/OJZAWNCDYNP53FRARPVL4BQUAI-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/OJZAWNCDYNP53FRARPVL4BQUAI-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/OJZAWNCDYNP53FRARPVL4BQUAI-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/OJZAWNCDYNP53FRARPVL4BQUAI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Ethiopia&#8217;s Parliament members listen to Prime Minister Abiy Ahmed, as he addresses them on the current situation of the country, at the Parliament Building in Addis Ababa, Ethiopia, October 31, 2024. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



ADDIS ABABA, Dec 17 (Reuters)&nbsp;&#8211;&nbsp;Ethiopia&#8217;s parliament passed long-planned legislation on Tuesday allowing foreign banks to operate in the Horn of Africa country, part of government efforts to attract more overseas investment.



The country has been gradually opening up its tightly controlled economy, which is one of Sub-Saharan Africa&#8217;s biggest, since Prime Minister Abiy Ahmed took over in 2018.



However, a two-year civil war, slow progress with reforms and a foreign exchange crunch have deterred investors.



In June, the cabinet approved the draft law, which allows foreign banks to establish subsidiaries, open branches or representative offices, and buy shares in local banks.



Ownership of local banks by foreign strategic investors will be capped at 40%, a copy of the law seen by Reuters showed.



Ethiopia&#8217;s banking sector is currently dominated by state-owned Commercial Bank of Ethiopia.



Parliament overwhelmingly backed the banking law, although a handful of opposition lawmakers expressed concern that local banks would not be able to compete with foreign competitors.



The governor of Ethiopia&#8217;s central bank, Mamo Mihretu, said competition would instead strengthen local lenders.



Ethiopia, with more than 120 million people, is one of the most populous on the African continent and has long been in the sights of foreign investors after being shut off for decades.



It secured an International Monetary Fund support programme in July, hours after it followed one of the Fund&#8217;s key recommendations and floated its birr currency.



Other reforms linked to the negotiations for an IMF programme included the adoption of an interest rate-based monetary policy regime.



(Reporting by Dawit Endeshaw; Writing by Elias Biryabarema; Editing by Alexander Winning and Alexander Smith)

FILE PHOTO: Ethiopia’s Prime Minister Abiy Ahmed addresses the Parliament members

Ethiopia passes law allowing foreign banks to operate

<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-1161864863-820x547.jpg" alt="" class="wp-image-505639" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Dec 17 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand slipped against a stronger dollar on Tuesday, as investors turn their attention to the Federal Reserve&#8217;s interest rate decision.



At 0820 GMT, the rand traded at 17.93 against the greenback, about 0.4% weaker than its previous close.



The dollar index was last trading up about 0.2% against a basket of currencies.



The Fed will announce its interest rate decision on Wednesday, with markets expecting a 25 basis point cut, but the focus will also be on the central bank&#8217;s tone on rates for the year ahead.



&#8220;A conservative tone will likely support the USD and pressure EM (emerging market) currencies, including ZAR,&#8221; said Andre Cilliers, Currency Strategist at TreasuryONE.



On the stock market, the Top-40 index was down about 0.9%.



South Africa&#8217;s benchmark 2030 government bond was slightly weaker, with the yield up 1 basis point at 8.93%.



(Reporting by Bhargav Acharya; Editing by Kirsten Donovan)

South African Rand Rebound Snaps Streak of Weekly Losses

South African rand weakens ahead of Fed decision

<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, Dec 17 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.



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



-Ethiopian lawmakers to consider new laws that might allow foreign banks to operate in the country



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



Asian stocks wobbled while the dollar held firm on Tuesday as traders braced for a slate of central bank meetings this week that is likely to see the U.S. Federal Reserve deliver a rate cut and the Bank of Japan stand pat for now.



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



Oil prices eased further on Tuesday as China&#8217;s economic data renewed demand concerns, while investors remained cautious ahead of the U.S. Federal Reserve&#8217;s interest rate decision.



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



The Kenyan shilling held steady in Monday&#8217;s trading session compared to its last close, as trading activities slowed ahead of the Christmas holidays, according to traders.



<h2 class="wp-block-heading" id="h-nigeria-inflation">NIGERIA INFLATION</h2>



Nigeria&#8217;s inflation rate rose for the third straight month in November, advancing to 34.60% in annual terms from 33.88% in October, data from the statistics agency showed on Monday.



<h2 class="wp-block-heading" id="h-nigeria-oil">NIGERIA OIL</h2>



Shell said on Monday its Nigerian subsidiary has announced a final investment decision (FID) on Bonga North, a deep-water project off the coast of Nigeria.



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



Barrick Gold will suspend operations in Mali if gold shipments continue to be blocked, the company said on Monday as it struggles to reach agreement with authorities on a new mining code in the West African country.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Dec 17

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



JOHANNESBURG, Dec 17 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, equity and currency market moves may affect South African markets on Tuesday.



<h2 class="wp-block-heading" id="h-economic-event">ECONOMIC EVENT</h2>



South African leading business cycle indicator up 1.1% in October



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



Asian stocks wobbled while the dollar held firm on Tuesday as traders braced for a slate of central bank meetings this week that is likely to see the U.S. Federal Reserve deliver a rate cut and the Bank of Japan stand pat for now.



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



The Nasdaq closed at a record high on Monday and the S&amp;P 500 also rose as investors gauged the latest economic data while looking toward the Federal Reserve&#8217;s final policy announcement of the year later in the week to gauge the path of interest rates.



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



Gold prices steadied on Tuesday ahead of the Federal Reserve policy meeting as the market keenly awaited the U.S. central bank&#8217;s outlook for cues on its interest rate path in 2025.



&#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; Telkom gets Icasa nod for sale of masts business



&#8211; Jubilee’s Roan facilities hit by unplanned Zambia power outages



(Compiled by Bhargav Acharya)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Dec 17

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="720" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/3ZBREFEEMBMVNIDF57IIH75RYU.avif" alt="" class="wp-image-565676"/><figcaption class="wp-element-caption">FIA President Mohammed Ben Sulayem talks to Rwanda&#8217;s President Paul Kagame during the FIA General Assembly at the Kigali Convention Center, in Kigali, Rwanda December 13, 2024. REUTERS/Jean Bizimana</figcaption></figure>



KIGALI, Dec 13 (Reuters)&nbsp;&#8211;&nbsp;Rwandan president Paul Kagame announced his country&#8217;s bid for a Formula One race on Friday, ahead of an awards ceremony in the capital Kigali that will hand the champion&#8217;s trophy to Max Verstappen for a fourth year in a row.



Formula One has not raced in Africa since the last South African Grand Prix was held at Kyalami, north of Johannesburg, in 1993.



&#8220;I am happy to formally announce that Rwanda is bidding to bring the thrill of racing back to Africa by hosting a Formula One Grand Prix,&#8221; Kagame said in an opening address to the governing FIA&#8217;s General Assembly.



&#8220;A big thank you to (Formula One chief executive) Stefano (Domenicali) and the entire team at F1, for the good progress in our discussions so far.



&#8220;I assure you that we are approaching this opportunity with the seriousness and commitment which it deserves. Together we will build something we can all be proud of.&#8221;



Domenicali said in August that Rwanda wanted to host a race at a permanent circuit.



Media reports say the track, to be designed by a company run by Austrian former F1 racer Alexander Wurz, would be&nbsp;near a new international airport under construction at Bugesera some 40km from Kigali.



Seven-times world champion Lewis Hamilton also said in August that the time was right for a race in Africa.



&#8220;The time&#8217;s 100% right. We can&#8217;t be adding races in other locations and continue to ignore Africa, which the rest of the world just takes from. No one gives anything to Africa,&#8221; said the Briton.



&#8220;I think having a Grand Prix there will really be able to highlight just how great the place is and bring in tourism and all sorts of things. Why are we not on that continent?&#8221;



The FIA is holding its general assemblies in Africa for the first time and the FIA&#8217;s Emirati President Mohammed Ben Sulayem and Rwanda&#8217;s Sports Minister Richard Nyirihishema met earlier in Kigali.



&#8220;To be here in Rwanda for such an important moment in the FIA’s calendar is a testament to the strength of this nation, in particular its growing influence in motorsport,&#8221; said Ben Sulayem.



&#8220;We are aligned on our values and shared goals across key sectors such as innovation, sustainability, and road safety, and I look forward to our continued partnership. The future of motorsport in Africa is bright.&#8221;



Verstappen is also carrying out &#8216;work of public interest&#8217; in Rwanda as punishment for swearing in a Singapore Grand Prix press conference in October.



The activity involves an Affordable Cross Car built locally in Rwanda from blueprints provided by the&nbsp;FIA.



Kagame has won praise from Western and regional leaders for helping to end the 1994 genocide in Rwanda and rebuilding the country into an attractive destination for investment and aid.



But he also stands accused of a brutal crackdown on critics at home, and supporting the M23 rebel group in neighbouring Democratic Republic of Congo, who rights groups say are guilty of killings, rapes and other apparent war crimes.



He has repeatedly denied the allegations.



(Writing by Alan Baldwin in London, additional reporting by Hereward Holland in Nairobi, editing by Christian Radnedge)

3ZBREFEEMBMVNIDF57IIH75RYU

Rwandan president announces bid for F1 race

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-501467" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Dec 13 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.



ECONOMIC EVENTS



South Africa shifts to FDI outflows in third quarter, central bank says



South African inflation-linked bond auction



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



The South African rand was steady against the dollar on Thursday, after the release of third quarter employment data and producer inflation figures.



On the Johannesburg Stock Exchange, the Top-40 index closed about 0.2% lower.



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



Asia shares fell on Friday as a strong dollar weighed on risk sentiment, while longer-dated Treasury yields are headed for their biggest weekly rise in a year on receding U.S. rate cut expectations for 2025.



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



Wall Street pulled back on Thursday as investors evaluated key economic indicators ahead of the Federal Reserve&#8217;s meeting next week.



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



Gold prices edged higher on Friday and were set for a weekly gain, driven by recent reports of top consumer China resuming gold purchases, and heightened expectations of an interest rate reduction by the Federal Reserve at its Dec. 17-18 meeting. 



&#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; Lesotho and SA clash over appointment of water project CEO



&#8211; VBS liquidator pays R458m to creditors as hunt for looted cash continues



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



&#8211; Claims of spiralling costs and coal theft emerge as corporate chaos rips through Exxaro



&#8211; Former finance minister Trevor Manuel to head G20 expert panel on Africa



(Compiled by Bhargav Acharya)

South African Markets – Factors to watch on Dec 13

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="541" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-820x541.jpg" alt="" class="wp-image-425628" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-820x541.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-768x507.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-1536x1013.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/E2LAHPZEEFN6VLWP7WHSXPENYQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The logo of South Africa&#8217;s central reserve bank is seen during the delivery of a keynote address by South Africa&#8217;s central bank governor, Lesetja Kganyago, at the University of the Witwatersrand in Johannesburg, South Africa, November 1, 2022. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



PRETORIA, Dec 13 (Reuters)&nbsp;&#8211;&nbsp;South Africa recorded foreign direct investment outflows of 3.2 billion rand ($179.87 million) in the third quarter, compared to inflows of 16.6 billion in the second quarter, central bank data showed on Friday.



The South African Reserve Bank (SARB) said in its Quarterly Bulletin that the outflows were due to domestic subsidiaries of multinational companies paying back their loans to the parent companies.



For the first time in two years, portfolio investments recorded inflows of 45.6 billion rand in July-September, from outflows of 20.1 billion rand in the second quarter.



Nthabiseng Molemoeng, head of balance of payments at the SARB, said the inflows were mainly due to an increase in foreign purchases of publicly traded government bonds following eight consecutive quarters of equity outflows.



&#8220;I think it was just a general decline in investor sentiment towards emerging markets,&#8221; she said. &#8220;Now with this quarter the inflow is mainly from debt securities.&#8221;



($1 = 17.7908 rand)



(Reporting by Kopano Gumbi, Editing by Bhargav Acharya)

FILE PHOTO: South Africa’s central bank governor to delivers keynote address

South Africa shifts to FDI outflows in third quarter, central bank says

<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>



NAIROBI, Dec 13 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.



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



Asia shares fell on Friday as a strong dollar kept risk sentiment fragile, while longer-dated Treasury yields are heading for their biggest weekly rise this year as expectations for deep U.S. rate cuts in 2025 recede.



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



Oil prices inched lower on Friday as investors focused on a forecast of ample supply and shrugged off expectations of higher demand next year from Chinese stimulus measures, while eyeing another Federal Reserve interest rate cut next week.



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



The South African rand was steady against the dollar on Thursday, after the release of third quarter employment data and producer inflation figures.



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



The Ghanaian and Ugandan currencies are expected to continue strengthening against the dollar in the next week to Thursday, while Nigeria&#8217;s and Zambia&#8217;s could be broadly steady, traders said.



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



Ivory Coast&#8217;s cocoa grind rose 16.1% year-on-year in November to 60,694 metric tons, data from exporter association GEPEX showed on Thursday.



((Compiled by Nairobi Newsroom))

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

African Markets – Factors to watch on Dec 13

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3488" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/FHAFUN3FDVOOFH6LJMRBKOX2FI.avif" alt="" class="wp-image-565245"/><figcaption class="wp-element-caption">Wilted maize crops are seen in Mumijo, Buhera district, east of capital Harare, Zimbabwe, March 16, 2024. REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



CHIVI, Zimbabwe, Dec 12 (Reuters) &#8211; Zimbabwe appears to be heading into another dry spell that could worsen hunger for millions of people already suffering from an El Nino-induced drought, the U.N. World Food Programme said on Thursday.



The drought in Southern Africa that started early this year has been the worst in decades and prompted Zimbabwe and neighbouring countries to declare a state of disaster over food shortages.



Rainfall was forecast to resume in October, which is normally the start of a six-month rainy season. But so far Zimbabwe has received only a few days of rain in late November.



&#8220;We are worried. You can see the ground in front of us is bone dry,&#8221; said World Food Programme country director Barbara Clemens during a food distribution event in Chivi, southern Zimbabwe.



Families in the district are already skipping meals to preserve the little food they have.



Georgina Maphosa, 74, said she feared worse hunger next year after the maize crop she planted in late November failed to germinate.



&#8220;I can now afford to eat once a day. I had hoped that this season would be better, but my early crop is already a write-off,&#8221; said Maphosa, who woke up at 5:00 am to queue for food handouts.



More than half of Zimbabwe&#8217;s population of 16 million was in need of food aid this year, the government said in May.



Zimbabwe has failed to feed itself since 2000, when former president Robert Mugabe led land reforms that disrupted production, while climate change has worsened the country&#8217;s ability to grow enough food.



(Editing by Nellie Peyton; Editing by David Goodman)

FHAFUN3FDVOOFH6LJMRBKOX2FI

Zimbabwe at risk of another dry season after El Nino drought, says WFP

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="515" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-820x515.jpg" alt="" class="wp-image-526361" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-820x515.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-300x189.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-143x90.jpg 143w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-768x483.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-1536x965.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NKYFZRFDD5MS5NQEZSVZ6PYNTI-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Shoppers are seen outside the Shoprite store at the Garden City mall along Thika Road in Nairobi, Kenya November 13, 2020. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



JOHANNESBURG, Dec 12 (Reuters)&nbsp;&#8211;&nbsp;South African analysts, business people and trade unions have lowered their inflation expectations through to 2026, taking them to the midpoint of the central bank&#8217;s inflation target range, a quarterly survey showed on Thursday.



The findings are likely to encourage the South African Reserve Bank (SARB) to forge ahead with its monetary easing cycle, potentially by cutting interest rates in larger increments.



The fourth-quarter survey conducted by the Bureau for Economic Research found that the average inflation forecast of analysts, business people and labour unions was for headline consumer inflation of 4.6% in 2024, 4.5% in 2025 and 4.6% in 2026.



That is down from average forecasts of 5.1%, 4.8% and 4.8% in the third-quarter survey and the lowest expectations have been in more than three years.



The SARB likes to see inflation around 4.5%, the midpoint of its 3% to 6% target band.



It has lowered its main lending rate by 25 basis points (bps) at each of its last two meetings.



But some analysts believe there is room for a 50 bp cut at the next policy meeting in January.



Data on Wednesday showed headline consumer inflation stood at 2.9% year on year in November, below the target band for the second month in a row thanks to food inflation slowing to its lowest level in almost 14 years.



(Reporting by Kopano Gumbi; Editing by Alexander Winning, Kirsten Donovan)

Shoppers are seen outside the Shoprite store at the Garden City mall along Thika Road in Nairobi

South African inflation expectations fall to midpoint of central bank range

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="485" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/SZDJDME5EFNDPN4BZJHAQQVVFM-820x485.jpg" alt="" class="wp-image-565145" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/SZDJDME5EFNDPN4BZJHAQQVVFM-820x485.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/SZDJDME5EFNDPN4BZJHAQQVVFM-300x178.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/SZDJDME5EFNDPN4BZJHAQQVVFM-152x90.jpg 152w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/SZDJDME5EFNDPN4BZJHAQQVVFM-768x455.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/SZDJDME5EFNDPN4BZJHAQQVVFM-1536x909.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/SZDJDME5EFNDPN4BZJHAQQVVFM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Somali women gather to march against the Ethiopia-Somaliland port deal at the Yarisow stadium in Mogadishu, Somalia January 3, 2024. REUTERS/Feisal Omar/File Photo</figcaption></figure>



ANKARA, Dec 11 (Reuters)&nbsp;&#8211;&nbsp;Somalia and Ethiopia&nbsp;said they would&nbsp;work together to resolve a dispute over Addis Ababa&#8217;s plan to build a port in the breakaway region of Somaliland, which had drawn in regional powers and threatened to further destabilise the Horn of Africa.



The two countries&#8217; leaders said they had agreed to find commercial arrangements to allow landlocked Ethiopia &#8220;reliable, secure and sustainable access to and from the sea&#8221; after talks on Wednesday mediated by Turkish President Tayyip Erdogan.



The meeting was their first since January when Ethiopia said it would lease a port in Somalia&#8217;s breakaway northern region of Somaliland in exchange for recognising the area&#8217;s independence.



Mogadishu rejected the deal and threatened to expel Ethiopian troops who were stationed in Somalia to fight Islamist insurgents.



Somalia opposes international recognition of Somaliland, which has governed itself and enjoyed comparative peace and stability since declaring independence in 1991.



In a joint statement released late on Wednesday, Somalia and Ethiopia said they had agreed to start technical negotiations by the end of February next year, and to conclude them within four months.



They did not go into detail.



&#8220;This joint declaration focuses on the future, not the past,&#8221; Erdogan said at a press conference in Ankara afterwards.



Somalia&#8217;s President Hassan Sheikh Mohamud said he was ready to work with Ethiopia, while Ethiopian Prime Minister Abiy Ahmed welcomed Turkish efforts to resolve the dispute.



The spat has drawn Somalia closer to Egypt, which has quarrelled with Ethiopia for years over Addis Ababa&#8217;s construction of a vast hydro dam on the Nile River, and to Eritrea, another of Ethiopia&#8217;s longtime foes.



Turkey has close ties with both Ethiopia and Somalia, training Somalia&#8217;s security forces and supplying development assistance in return for a foothold on a key global shipping route.



(Reporting by Hereward Holland, Ezgi Erkoyun, Huseyin Hayatsever, Abdi Sheikh, Dawit Endeshaw and Tuvan Gumrukcu; Writing by Hereward Holland; Editing by Keith Weir and Kate Mayberry)

FILE PHOTO: Somali women gather to march against the Ethiopia-Somaliland port deal, in Mogadishu

Somalia, Ethiopia agree to work together to resolve Somaliland port dispute

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



ABUJA, (Reuters) &#8211; Nigeria&#8217;s Dangote Refinery said on Wednesday it has made its first export of petrol to Cameroon, a milestone that could pave way for regional energy integration and help stabilise fuel prices across the region.



The 650,000 barrel refinery built by Nigerian billionaire Aliko Dangote in Lagos aims to compete with European refiners when operating at full capacity and is expected to change trading of refined products in the Atlantic basin.



The company&nbsp;did not provide&nbsp;details&nbsp;of how much was exported.



Cameroon&#8217;s energy firm Neptune Oil said in the statement that both companies were exploring new initiatives to establish a reliable supply chain that will help stabilize fuel prices and opportunities across the region.



Neptune Oil said the petrol supply transaction was executed without intermediaries.



(Reporting by MacDonald Dzirutwe; Writing by Chijioke Ohuocha. Editing by Jane Merriman and Diane Craft)

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

Nigeria’s Dangote Refinery makes first petrol export to Cameroon

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/107308954-1695982808104-gettyimages-1664665862-US-CPI-AUGUST-820x461.jpeg" alt="" class="wp-image-564863" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/107308954-1695982808104-gettyimages-1664665862-US-CPI-AUGUST-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/107308954-1695982808104-gettyimages-1664665862-US-CPI-AUGUST-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/107308954-1695982808104-gettyimages-1664665862-US-CPI-AUGUST-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/107308954-1695982808104-gettyimages-1664665862-US-CPI-AUGUST-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/107308954-1695982808104-gettyimages-1664665862-US-CPI-AUGUST-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/107308954-1695982808104-gettyimages-1664665862-US-CPI-AUGUST.jpeg 1858w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Customers shop at a supermarket in Foster City, California, the United States, Sept. 13, 2023. Xinhua News Agency | Xinhua News Agency | Getty Images</figcaption></figure>



Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers.



The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday. The annual rate was 0.1 percentage point higher than October.



Excluding food and energy costs, core CPI was at 3.3% on an annual basis and 0.3% monthly. The 12-month core reading was unchanged from a month ago.



All of the numbers were in line with the Dow Jones consensus estimates.



The readings come with Federal Reserve officials mulling over what to do at their policy meeting next week, Markets strongly expect the Fed to lower its benchmark short-term borrowing rate by a quarter percentage point when the meeting wraps up Dec. 18, but then skip January as they measure the impact successive cuts have had on the economy.



The report further solidified the outlook for a cut, with traders raising the odds to 99%, according to the CME Group’s FedWatch measure. Odds of a January cut also edged higher, hitting about 23%.



“In-line core inflation clears the way for a rate cut at next week’s [Federal Open Market Committee] meeting,” said Whitney Watson, global co-head and co-CIO for fixed income at Goldman Sachs Asset Management. “Following today’s data the Fed will depart for the holiday break still confident in the disinflation process and we think it remains on course for further gradual easing in the new year.”



While inflation is well off the 40-year high it saw in mid-2022, it remains above the Fed’s 2% annual target. Some policymakers in recent days have expressed frustration with inflation’s resilience and have indicated that the pace of rate cuts may need to slow if more progress isn’t made.



If the Fed follows through with a cut next week, it will have taken a full percentage point off the federal funds rate since September.



Much of the November increase in CPI came from shelter costs, which rose 0.3% and have been one of the most stubborn components of inflation. Fed officials and many economists expect housing-related inflation to ease as new rental leases are negotiated, but the item has continued to increase each month.



The BLS estimated that the shelter item, which has about a one-third weighting in the CPI calculation, accounted for about 40% of the total increase in November. The shelter index rose 4.7% on a 12-month basis in November.



Used vehicle prices rose 2% monthly while new vehicle prices increased 0.6%, reversing the recent trend that has seen those items come down.



Elsewhere, food costs rose 0.4% monthly and 2.4% year over year, while the energy index increased 0.2% but was down 3.2% annually.



The increase in the CPI meant that average hourly earnings for workers were basically flat for the month when adjusted for inflation, but increased 1.3% from a year ago, the BLS said in a separate release.

107308954-1695982808104-gettyimages-1664665862-US-CPI-AUGUST

Annual U.S. inflation rate accelerates to 2.7% in November, as expected

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3333" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/WHPPRFAEWVI2PAWUHJUMPQXPVA.avif" alt="" class="wp-image-564860"/><figcaption class="wp-element-caption">United Nations Secretary-General Antonio Guterres attends a joint statement with Portuguese Prime Minister Luis Montenegro (not pictured), in Sao Bento Palace, Lisbon, Portugal, November 27, 2024. REUTERS/Pedro Nunes/File Photo</figcaption></figure>



JOHANNESBURG, Dec 11 (Reuters)&nbsp;&#8211;&nbsp;United Nations Secretary-General Antonio Guterres said on Wednesday that existing debt relief mechanisms were far from adequate to address global vulnerabilities, calling on the Group of Twenty nations to do more to deliver financial justice.



Guterres made the comments during a visit to South Africa, which became the first African country to lead the G20 when it took the helm of the international forum of developed and developing economies this month.



The G20&#8217;s &#8220;Common Framework&#8221;, a debt relief architecture launched during the COVID-19 pandemic to help heavily-indebted countries get back on track quickly, has been criticised following slow restructurings in countries including Zambia.



&#8220;I recognise all the efforts the G20 has made in relation to the so-called &#8216;Framework&#8217;, but let&#8217;s be clear. We are far from having an instrument able to address the debt problem that exists at global level,&#8221; Guterres told a G20 event in Johannesburg.



&#8220;We need meaningful solutions to address the debt crisis, so countries can invest in meeting the basic needs of their people and drive long-term development.&#8221;



Guterres also used his speech to G20 sherpas and finance officials to underscore that global governance institutions needed to be reformed to serve African countries better.



He said there should be an enhanced role for multilateral development banks and greater concessional funding, but that boosting gross domestic product should not be the only targeted metric.



&#8220;It&#8217;s very important to look especially also at vulnerability,&#8221; Guterres said.



South African Finance Minister Enoch Godongwana told the same event that addressing debt vulnerabilities would be a focus of his country&#8217;s G20 presidency.



South Africa will propose creating an expert panel to focus specifically on Africa&#8217;s financing needs, he said, adding that &#8220;debt sustainability cannot be solved through the Common Framework alone&#8221;.



(Additional reporting by Tannur Anders and Bhargav Acharya. Writing by Alexander Winning. Editing by Mark Potter)

WHPPRFAEWVI2PAWUHJUMPQXPVA

UN chief says debt relief tools far from adequate

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="483" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/RUOSHILXAJKG3G5CGAZV5P4VJQ.avif" alt="" class="wp-image-564824"/><figcaption class="wp-element-caption">Soccer Football &#8211; FIFA World Cup Qatar 2022 &#8211; Final &#8211; Argentina v France &#8211; Lusail Stadium, Lusail, Qatar &#8211; December 18, 2022 General view of Argentina&#8217;s Lionel Messi lifting the trophy as he celebrates winning the World Cup REUTERS/Hannah Mckay/File Photo</figcaption></figure>



Dec 10 (Reuters)&nbsp;&#8211;&nbsp;FIFA is set to confirm the hosts of the 2030 and 2034 men&#8217;s World Cups on Wednesday, with a three-continent, six-nation bid led by Morocco, Spain and Portugal to be awarded the former and the latter going to Saudi Arabia.



In October last year, the global soccer governing body said there were no competing bids for the two tournaments, making Wednesday&#8217;s decision little more than a formality.



A day before the announcement it was still not clear exactly what format a vote on the decision would adopt, with acceptance by &#8220;acclamation&#8221; expected rather than a formal vote.



On Tuesday, the Norwegian Football Federation (NFF) said it would vote against the awarding of hosting rights by acclamation and criticised FIFA&#8217;s bidding process, saying it was &#8220;flawed and inconsistent&#8221;.



BIDS



Morocco, Spain and Portugal&#8217;s combined proposal will see the 2030 World Cup take place across three continents and six countries to mark the tournament&#8217;s centenary, with Uruguay, Argentina and Paraguay hosting celebratory games.



Uruguay hosted the first ever World Cup in 1930.



Argentina, Chile, Uruguay and Paraguay had in 2022 submitted a joint bid to host the 2030 World Cup, but FIFA announced last year that Argentina, Uruguay and Paraguay would instead each host one match during the tournament.



Saudi Arabia will become the second nation from the Middle East to host the quadrennial tournament in 2034, 12 years after neighbours Qatar staged the 2022 edition.



Australia and Indonesia were in talks over a joint bid for the 2034 tournament, but dropped out before Saudi was announced as the sole bidder.



HURDLES



Both bids have already been criticised.



The decision to host the 2030 World Cup across three continents has been panned by climate activists because of the increased emissions from the extra travel required.



FIFA has said it will take measures to &#8220;mitigate the environmental impact&#8221;.



The 2034 bid by Saudi Arabia has been criticised because of the country&#8217;s human rights record and desert climate, much in the same way as the Qatar World Cup.



The Saudi climate will likely force FIFA to hold the tournament in the Northern Hemisphere winter, just like it did in Qatar, where the event took place from late November to mid-December.



That timeframe will coincide with the Muslim holy month of Ramadan, with reports now suggesting the 2034 tournament could be held in January instead, risking a clash with the Winter Olympics in Salt Lake City.



FIFA said the Saudi bid did not stipulate a proposed window and that they would collaborate with stakeholders to &#8220;determine the optimal timing&#8221;.



HUMAN RIGHTS



A World Cup in Saudi Arabia will also spark debate about the Kingdom&#8217;s record on human rights and lead to accusations of &#8216;sportswashing&#8217;.



Amnesty International and the Sport &amp; Rights Alliance (SRA) last month urged FIFA to halt the process to pick Saudi as hosts unless it announces major reforms before the vote.



The Kingdom has invested heavily in sport over the last few years, although critics, including women&#8217;s rights groups and members of the LGBTQ community, allege it is using its Public Investment Fund to sportswash its human rights record.



The country denies accusations of human rights abuses and says it protects its national security through its laws.



Hammad Albalawi, head of Saudi Arabia&#8217;s bid, told Reuters this month that the country has made significant progress in human rights.



(Reporting by Aadi Nair in Bengaluru; Editing by Christian Radnedge)

Reuters

Mozambique’s post-election unrest to hit economic growth, says IMF official

Power supply restored after major outage hits Kenya, affects internet access

Ethiopia passes law allowing foreign banks to operate

South African rand weakens ahead of Fed decision

African Markets – Factors to watch on Dec 17

South African Markets – Factors to watch on Dec 17

Rwandan president announces bid for F1 race

South African Markets – Factors to watch on Dec 13

South Africa shifts to FDI outflows in third quarter, central bank says

African Markets – Factors to watch on Dec 13

Zimbabwe at risk of another dry season after El Nino drought, says WFP

South African inflation expectations fall to midpoint of central bank range

Somalia, Ethiopia agree to work together to resolve Somaliland port dispute

Nigeria’s Dangote Refinery makes first petrol export to Cameroon

Annual U.S. inflation rate accelerates to 2.7% in November, as expected

UN chief says debt relief tools far from adequate

FIFA to confirm World Cup hosts, Saudi set to stage 2034 tournament

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Reuters

Mozambique’s post-election unrest to hit economic growth, says IMF official

Power supply restored after major outage hits Kenya, affects internet access

Ethiopia passes law allowing foreign banks to operate

South African rand weakens ahead of Fed decision

African Markets – Factors to watch on Dec 17

South African Markets – Factors to watch on Dec 17

Rwandan president announces bid for F1 race

South African Markets – Factors to watch on Dec 13

South Africa shifts to FDI outflows in third quarter, central bank says

African Markets – Factors to watch on Dec 13

Zimbabwe at risk of another dry season after El Nino drought, says WFP

South African inflation expectations fall to midpoint of central bank range

Somalia, Ethiopia agree to work together to resolve Somaliland port dispute

Nigeria’s Dangote Refinery makes first petrol export to Cameroon

Annual U.S. inflation rate accelerates to 2.7% in November, as expected

UN chief says debt relief tools far from adequate

FIFA to confirm World Cup hosts, Saudi set to stage 2034 tournament

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