<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2000" height="1354" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/BWEXMGXBZJGV5F4OV3LMRETAPA.jpg" alt="" class="wp-image-401890" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/BWEXMGXBZJGV5F4OV3LMRETAPA.jpg 2000w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/BWEXMGXBZJGV5F4OV3LMRETAPA-300x203.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/BWEXMGXBZJGV5F4OV3LMRETAPA-820x555.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/BWEXMGXBZJGV5F4OV3LMRETAPA-768x520.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/BWEXMGXBZJGV5F4OV3LMRETAPA-1536x1040.jpg 1536w" sizes="auto, (max-width: 2000px) 100vw, 2000px" /><figcaption class="wp-element-caption">A flame rises from a gas flare stack at the under-construction Dangote Industries Ltd. oil refinery and fertilizer plant site in the Ibeju Lekki district, outside of Lagos, Nigeria, on Friday, March 6, 2020. Aliko Dangote, Africas richest man, plans to spend more than his net worth of $13.5 billion building one of the worlds biggest oil refineries. Photographer: Tom Saater/Bloomberg</figcaption></figure>



LAGOS, July 22 (Reuters)&nbsp;&#8211;&nbsp;Nigerian lawmakers on Monday set up a committee to investigate crude shortages to local refineries and importation of dirty fuels, issues at the heart of a rift between the Dangote Refinery and Nigeria&#8217;s downstream oil regulator.



The committee constituted by Nigeria&#8217;s lower parliament will investigate alleged importation of dirtier fuels, operations of standards agencies, why refineries including Dangote Refinery are unable to get adequate crude supplies and rising fuel queues.



&#8220;Our investigation will proceed in phases beginning with the allegation of production and importation of sub standard petroleum products and unavailability of crude oil to domestic refineries,&#8221; said Ikenga Ugochinyere, a co-char of the committee.



The findings of the investigative panel, which does not have the power to act on them, will be presented to parliament from which recommendations would be made to the president.



The $20 billion Dangote Oil refinery, built by Africa&#8217;s richest man Aliko Dangote on the outskirts of Lagos, began operations in January but has been unable to get adequate crude supplies from Nigeria where vandalism, sabotage and low investments deter production.



Last month, the Dangote Refinery said oil majors were blocking its access to locally produced crude and the regulator was allowing fuel traders import high-sulphur gasoil thereby undermining its refinery.



In response, the head of the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the downstream regulator, said the Dangote Refinery was 45% completed hence unable to meet the country&#8217;s needs. He also said gasoil processed by the refinery is between 650 to 1200 parts per million of sulphur, thus inferior to imported products.



Nigerian regulation allows for the sulphur content in gasoil to be about 50 ppm and is set to begin enforcing the standards from next year.



When some lawmakers visited the plant on Saturday, Africa&#8217;s richest man, Aliko Dangote insisted on a test of the gasoil from his plant with others sold in the local market. The result showed that Dangote Refinery&#8217;s diesel had a sulphur content of 87.6 ppm, whereas the other two samples showed sulphur levels exceeding 1800 ppm and 2,000 ppm, respectively.



Dangote announced he was no longer proceeding with an investment into steel production in Nigeria due to allegations that he seeking to be a monopoly.



The investigative panel said it will conduct a forensic audit of the entire sector.



&#8220;The committee is urging stakeholders in the current dispute to deescalate tensions as the committee embarks on the great task of resolving the issue,&#8221; Ugochinyere said.



(Reporting by Isaac Anyaogu; editing by David Evans)

Africas Richest Man Builds Nigerias $15 Billion Oil Refinery

Nigeria investigates fuel imports after Dangote Refinery rift with regulator

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-scaled.jpg" alt="" class="wp-image-493552" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/DASF5S7CCBO4TFSBMEVWMCUQT4-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: Tanzania&#8217;s President Samia Suluhu Hassan speaks with U.S. Vice President Kamala Harris (not pictured) during a meeting inside the Eisenhower Executive Office Building at the White House in Washington, U.S., April 15, 2022. REUTERS/Elizabeth Frantz/File Photo</figcaption></figure>



DAR ES SALAAM, July 22 (Reuters)&nbsp;&#8211;&nbsp;Tanzania&#8217;s President Samia Suluhu Hassan has fired two senior members of government including the foreign minister in a mini-cabinet reshuffle, her office said.



The changes came as Hassan seeks to regain trust from foreign powers over a programme of economic and political reforms, including easing restrictions on opposition parties and media, that some critics had seen as faltering.



The presidency announced late on Sunday that Hassan terminated the appointments of the minister of foreign affairs and East Africa cooperation, January Makamba, and the minister of information, communication and information technology, Nape Nnauye.



They are influential figures in the ruling party, Chama cha Mapinduzi (CCM).



No reason was given for their removal. Makamba and Nnauye did not immediately respond to requests for comment.



The dismissal of Nnauye comes a week after comments he made surfaced in a video, saying elections results would depend on who counts votes and announces the results.



Nnauye later apologised, saying it was a joke, but activists and some social media users said the statement undermined Hassan&#8217;s push to improve democracy.



Hassan appointed Mahmoud Thabit Kombo as new foreign affairs minister and Jerry Silaa as minister of information, communication and information technology.



Before Kombo&#8217;s appointment, he was Tanzania&#8217;s ambassador to Italy while Silaa was the minister of lands, housing and human settlements development. Two more ministers and deputy ministers were also appointed, the presidency said.



In power since 2021, Hassan&#8217;s government has won praise for rolling back her predecessor&#8217;s crackdowns on the opposition and civil rights groups. But arrests last year of a lawyer and an opposition politician have raised questions over her government&#8217;s human rights record.



(Reporting by Nuzulack Dausen; Editing by George Obulutsa and Andrew Cawthorne)

FILE PHOTO: U.S. Vice President Kamala Harris meets with Tanzania’s President Samia Suluhu Hassan inside the Eisenhower Executive Office Building at the White House in Washington

Tanzania’s president dismisses foreign, information ministers

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1366" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-scaled.jpg" alt="" class="wp-image-506008" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532787-1536x1025.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Ugandan shilling and US dollars in the draw at a foreign exchange currency bureau in Kampala, Uganda, on Wednesday, Aug. 16, 2023. Uganda&#8217;s central bank said it stands ready to act if the World Bank&#8217;s decision to halt new funding over the country&#8217;s passage of anti-LGBTQ legislation impacts the currency further. Photographer: Luke Dray/Bloomberg via Getty Images</figcaption></figure>



KAMPALA, July 22 (Reuters) &#8211; The Ugandan shilling was flat on Monday, drawing some support from subdued importer demand for dollars, traders said.



At 0900 GMT, commercial banks quoted the shilling at 3,690/3,700, unchanged from Friday&#8217;s closing rate.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

Ugandan Economy Following Rate Cut

Ugandan shilling flat; importer FX demand low

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1200" height="628" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY.jpg" alt="" class="wp-image-506011" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY.jpg 1200w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-820x429.jpg 820w, 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" sizes="auto, (max-width: 1200px) 100vw, 1200px" /><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, July 22 (Reuters) &#8211; Kenya&#8217;s shilling edged down on Monday due to increased demand for dollars from the manufacturing sector and general goods importers, traders said.



At 0857 GMT, commercial banks quoted the shilling at 130.75/131.75 per dollar, compared with Friday&#8217;s closing rate of 130.50/131.50.



(Reporting by George Obulutsa; Editing by Duncan Miriri)

HCVRNAVJRJMOJBUK4XOB7PEJGY

Kenyan shilling inches down due to increased importer FX demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1367" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-scaled.jpeg" alt="" class="wp-image-397971" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-scaled.jpeg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-768x513.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1160299406-1536x1025.jpeg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Emissions rise from towers at the Sasol Ltd. Sasol One Site in Sasolburg, South Africa, on Wednesday, Aug. 7, 2019. Sasol said some of its South African plants are under threat from sulfur dioxide emission standards that it will need to comply with by 2025. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



July 22 (Reuters) &#8211; South African petrochemicals company Sasol increased coal exports by 5% in the year to June 30, driven by improved freight rail performance and higher production at its Thubelisha colliery, it said on Monday.



A production update from the world&#8217;s biggest producer of fuels and chemicals from coal and gas said that it exported 2.1 million tons of coal during its financial year, up from 2 million tons previously.



The company, however, reported a 2% dip in coal production to 30.2 million metric tons from 30.8 million tons the previous year, mainly owing to a reduction to its mining operations.



Output from Sasol&#8217;s Secunda operations, where the company produces synthetic fuels and chemicals from coal, was flat at 7 million tons.



Revenue from the chemicals business declined 13% to $7.86 billion, mainly because of lower prices.



Sasol releases its financial results on Aug. 20.



(Reporting by Nelson Banya; Editing by David Goodman)

Sasol Ltd.’s South Africa Plants Threatened By Emission Standards

Sasol coal exports up 5% despite production dip

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="768" height="512" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Kalgoorlie_open_cast_mine.jpg" alt="" class="wp-image-372386" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Kalgoorlie_open_cast_mine.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Kalgoorlie_open_cast_mine-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Kalgoorlie_open_cast_mine-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/Kalgoorlie_open_cast_mine-600x400.jpg 600w" sizes="auto, (max-width: 768px) 100vw, 768px" /><figcaption class="wp-element-caption">Photo: via Flickr</figcaption></figure>



JOHANNESBURG, July 22 (Reuters) &#8211; South Africa&#8217;s Anglo American Platinum (Amplats) expects its demerger from parent company Anglo American to be completed next year and is planning a secondary listing in London, its CEO said on Monday.



Amplats, which reported first half results, also said it had cut some 3,700 jobs to reduce spending ahead of the demerger.



Meeting cost targets and the unbundling plan are crucial for efforts by Anglo American CEO Duncan Wanblad to restructure the wider group &#8211; after fending off a $49 billion takeover bid from rival mining giant BHP Group.



Amplats CEO Craig Miller said the standalone business would have brighter prospects.



&#8220;The planned demerger will create a more focused, independent global leader in the PGM industry,&#8221; Miller said, adding that a secondary listing would diversify its investors.



Amplats&#8217; profit fell 18% to 6.5 billion rand ($355.4 million) in the six months to June 30, while it declared a dividend of 9.75 rand per share, amounting to a total of 2.6 billion rand, in the first-half.



The wider Anglo group is due to report first half results on July 25, with investors hoping for a progress update.



Anglo has been battling an underground fire at one of its Australian coal mines since June 29, which could affect the way investors value the assets. Anglo&#8217;s sale of the coal assets is seen by investors as instrumental to raising capital.



&#8220;Anglo&#8217;s main problem this reporting period will be with the coal operations and how it will sell a burning coal mine,&#8221; said Ian Woodley, a portfolio manager at Old Mutual.



A spokesperson for Anglo said the coal assets sale had attracted strong demand from various investors.



&#8220;The sale process is well under way and there is strong interest in this world class set of steelmaking coal assets from a large number of parties,&#8221; the spokesperson said.



($1 = 18.2898 rand)



(Reporting by Felix Njini and Melanie Burton; Additional reporting by Nelson Banya and Clara Denina; Editing by Louise Heavens, David Goodman and Alexander Smith)

Kalgoorlie_open_cast_mine

Amplats says on track to demerge in 2025, plans secondary London listing

<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, July 22 (Reuters)&nbsp;&#8211;&nbsp;The South African rand was stable in early trade on Monday as investors await inflation data later this week for hints on the country&#8217;s future interest rate path.



At 0745 GMT, the rand traded at its Friday close of 18.2925 against the dollar.



&#8220;With no data out today look for consolidation and ranges to persist,&#8221; said Rand Merchant Bank analysts in a research note.



At home, investors will focus on June inflation figures expected on Wednesday, which may give clues on the future interest rate path of Africa&#8217;s most industrialised economy.



On Sunday, U.S. President Joe Biden ended his reelection bid and endorsed Vice President Kamala Harris to replace him as the Democratic candidate in the November election against Republican Donald Trump.



&#8220;Harris&#8217;s emergence as the likely Democratic candidate could introduce uncertainty, affecting market sentiment,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.



The risk-sensitive rand often takes its cues from global drivers such as U.S. political developments in addition to domestic factors.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index traded around 0.2% stronger in early trade.



South Africa&#8217;s benchmark 2030 government bond was slightly weaker in early deals, with the yield gaining 1 basis point to 9.66%.



(Reporting by Tannur Anders; Editing by Jacqueline Wong)

Illustration photo of South African rand

South African rand stable, inflation data in focus

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



JOHANNESBURG, July 22 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Monday.



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



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



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



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



Anglo American Platinum will releases its first-half year results.



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



South Africa&#8217;s rand weakened against the dollar on Friday, weighed down by risk-off sentiment as a worldwide cyber outage cut across sectors and worried investors.



On the stock market, the Top-40 .JTOPI index closed about 0.6% lower.



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



Asian shares slid anew on Monday, getting little lift from a surprise rate cut by China&#8217;s central bank, while Wall Street futures firmed in the wake of President Joe Biden&#8217;s decision to bow out of the election race.



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



S&amp;P 500 e-mini futures were up slightly late on Sunday after U.S. President Joe Biden ended his reelection bid and endorsed Vice President Kamala Harris to replace him as the Democratic candidate against Republican Donald Trump.



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



Gold prices firmed on Monday as the dollar eased following U.S. President Joe Biden&#8217;s decision to withdraw from the 2024 presidential race, with investors turning to bullion as a hedge against an uncertain political and market outlook.



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



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



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



&#8211; SA economy 2.0: Godongwana is optimistic and ready to do battle



(Compiled by Tannur Anders)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on July 22

<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, July 22 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.



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



Asian shares slid anew on Monday, getting little lift from a surprise rate cut by China&#8217;s central bank, while Wall Street futures firmed in the wake of President Joe Biden&#8217;s decision to bow out of the election race.



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



Oil prices rose in early trade on Monday as investors keep a lookout for signs of a rate-cut cycle expected to begin as soon as September.



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



South Africa&#8217;s rand weakened against the dollar on Friday, weighed down by risk-off sentiment as a worldwide cyber outage cut across sectors and worried investors.



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



Nigeria&#8217;s Dangote refinery is in talks with Libya to secure crude for the 650,000 barrels per day (bpd) plant and will also seek Angolan oil, a senior executive said, as it seeks to overcome problems with domestic supplies.



<h2 class="wp-block-heading" id="h-nigeria-meta">NIGERIA META</h2>



Nigeria fined Meta Platforms $220 million, its competition watchdog said on Friday, after investigations showed data-sharing on social platforms violated local consumer, data protection and privacy laws.



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



Kenya&#8217;s shilling was stable on Friday but faced pressure from interbank foreign currency demand amid thin supply, traders said.



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



Kenyan President William Ruto on Friday mostly named holdovers from the cabinet he sacked last week to a new government meant to respond to the grievances of young protesters.



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



The governor of Democratic Republic of Congo&#8217;s South Kivu province has suspended all mining activities in the restive region and ordered companies and operators to leave mining sites, he said on Friday.



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



Angola&#8217;s central bank kept its main interest rate at 19.5% on Friday, citing a potential slowdown in inflation and an improvement in the supply of essential goods in the near term.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on July 22

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1311" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-scaled.jpg" alt="" class="wp-image-509343" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-300x192.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-820x525.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-141x90.jpg 141w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-768x492.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/FKG5KKTJ3ZIJ3FXZRX4R573AVI-1536x983.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: Kenya&#8217;s President William Ruto addresses delegates after signing the Independent Electoral and Boundaries Commission Amendment Bill 2024, backed by the National Dialogue Committee (NADCO), at the Kenyatta International Conference Centre in Nairobi, Kenya July 9, 2024. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, July 19 (Reuters) &#8211; Kenyan President William Ruto on Friday mostly named holdovers from the cabinet he sacked last week to a new government meant to respond to the grievances of young protesters.



In a televised address, Ruto announced 11 appointments &#8211; six from the previous cabinet&nbsp;&#8211;&nbsp;with others to follow soon.



The mass firing last week was a concession to demands from youth-led protests that had already forced him to withdraw $2.7 billion in proposed tax hikes amid the biggest crisis of his two-year presidency.



The protests have resulted in more than 50 deaths since mid-June, and many demonstrators are now calling for Ruto to resign. Large protests took place again this week despite the president&#8217;s concessions.



Ruto re-appointed the ministers of interior, defence, environment and lands and changed the portfolios of two other ministers.



The appointee to be education minister, Julius Migos Ogamba, was the running mate of the outgoing education minister, Ezekiel Machogu, when Machogu stood unsuccessfully for governor of Kisii County in 2022, local media reports showed.



The nominees to be ministers of health, information, agriculture, water and education did not appear to have political backgrounds.



&#8220;I will be issuing next week a clear roadmap on the assignment that the new cabinet is going to have, with clear timelines and deliverables,&#8221; Ruto said.



The protests have left Ruto caught between pressure from lenders to pay down high debts and a public reeling from high living costs. The government has proposed austerity measures to narrow the deficit caused by shelving the proposed tax raises.



Kenyan media outlets had earlier reported that some members of the political opposition were likely to be named to Ruto&#8217;s new cabinet.



Activists behind the protests, which have no official leader and reject the entire political class as corrupt, have opposed the idea of a unity government.



They said a deal between rival coalitions would only perpetuate a tradition in Kenyan politics of leaders co-opting the opposition with jobs and perks while the population sees no benefits.



(Reporting by Aaron Ross, George Obulutsa, Humphrey Malalo in Nairobi, Tannur Anders in JohannesburgWriting by Aaron Ross Editing by Bate Felix)

Kenya’s President William Ruto signs the Independent Electoral and Boundaries Commission Amendment Bill 2024, in Nairobi

Kenya’s Ruto retains former ministers in new cabinet appointments

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1166297288-scaled.jpeg" alt="" class="wp-image-397450" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1166297288-scaled.jpeg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1166297288-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1166297288-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1166297288-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1166297288-1536x1024.jpeg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">HARARE, ZIMBABWE &#8211; SEPTEMBER 06. Zimbabwe&#8217;s president Emmerson Mnangagwa holds a press conference at State House:on September 6, 2019 in Harare, Zimbabwe. The current President of Zimbabwe, Emmerson Managagwa, cut short his visit to the World Economic Forum in Cape Town, South Africa on hearing of the death of former President Robert Mugabe. (Photo by Tafadzwa Ufumeli/Getty Images)</figcaption></figure>



HARARE,July 19 (Reuters)&nbsp;&#8211;&nbsp;The United States wants to see key reforms before rejoining debt resolution talks between Zimbabwe and multilateral lenders from which Washington withdrew following the African country&#8217;s disputed 2023 election.



The new U.S ambassador to Zimbabwe, Pamela Tremont, on Thursday hinted that there are prospects for Washington to rejoin the debt talks.



&#8220;We are looking forward to new democracy and governance indicators that will give us the sense of where the government is, that is its democracy and governance pathway so that we return to the table and continue these talks,&#8221; Tremont told Reuters.



Tremont said the U.S pulled out of the debt talks led by the African Development Bank (AfDB) president Akinwumi Adesina in January because last year&#8217;s election that gave President Emmerson Mnangagwa a second term was not free and fair.



&#8220;We were an active participant in those talks but we had to put a pause on that after the elections that we did not find free and fair,&#8221; she said.



Zimbabwe is owing over $17 billion in debt and arrears to several multilateral funders, including the World Bank, AFDB and 17 Paris Club members.



It has been locked out of international financial markets for more than two decades but sees the debt resolution talks as a step towards clearing the arrears.



Before resuming debt resolution talks last year, Zimbabwe had committed to key governance and electoral reforms that included running a clean election.



The August elections were widely criticized by observers like SADC and EU observer missions which said the process fell short of international standards.



Zimbabwe&#8217;s main opposition leader Nelson Chamisa, who came second to Mnangagwa, described the election as a gigantic fraud.



Deputy Finance Minister Kuda Mnangagwa said the U.S was still welcome to rejoin the debt talks.



&#8220;We remain committed to the talks and re-engagement to foster strong economic ties with those who are willing to work with us,&#8221; Mnangagwa told Reuters.



The U.S remains a key party to the debt talks as it wields influence in the International Monetary Fund and World Bank.



&#8220;We think the AfDB process is really useful to discuss the reforms that the International Financial Institutions need for Zimbabwe to access the concessionery loans it wants,&#8221; Tremont said.



(Reporting by Nyasha Chingono; Editing by Nelson Banya and Angus MacSwan)

President Mnangagwa Holds Press Conference After The Death Of Robert Mugabe

US wants reforms before it returns to key Zimbabwe debt talks: Ambassador

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-scaled.jpg" alt="" class="wp-image-422955" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Uganda shillings. Uganda. (Photo by: Godong/Universal Images Group via Getty Images)</figcaption></figure>



KAMPALA, July 19 (Reuters) &#8211; The Ugandan shilling inched lower on Friday on the back of elevated demand for hard currency from players in the interbank market, traders said.



At 0906 GMT commercial banks quoted the shilling at 3,690/3,700, compared to Thursday&#8217;s close of 3,685/3,695.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

GettyImages-924883576-1

Ugandan shilling inches lower on interbank FX demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="929" height="523" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108008818-1721376380367-gettyimages-2162122113-europapress_6090171_spain_national_team_plane_arriving_durin.jpeg" alt="" class="wp-image-509305" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108008818-1721376380367-gettyimages-2162122113-europapress_6090171_spain_national_team_plane_arriving_durin.jpeg 929w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108008818-1721376380367-gettyimages-2162122113-europapress_6090171_spain_national_team_plane_arriving_durin-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108008818-1721376380367-gettyimages-2162122113-europapress_6090171_spain_national_team_plane_arriving_durin-820x462.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108008818-1721376380367-gettyimages-2162122113-europapress_6090171_spain_national_team_plane_arriving_durin-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/108008818-1721376380367-gettyimages-2162122113-europapress_6090171_spain_national_team_plane_arriving_durin-768x432.jpeg 768w" sizes="auto, (max-width: 929px) 100vw, 929px" /><figcaption class="wp-element-caption">Spain National Team plane arriving at Adolfo Suarez Madrid-Barajas airport on July 15, 2024, in Madrid, Spain. Europa Press Sports | Europa Press | Getty Images</figcaption></figure>



July 19 (Reuters) &#8211; A global tech outage that appeared to be related to issues at global cybersecurity firm CrowdStrike and Microsoft was affecting operations in various sectors on Friday including airports, airlines, media and banks.



Below is a list of disruptions that have been reported:



<h2 class="wp-block-heading" id="h-airlines-airports">AIRLINES, AIRPORTS</h2>



&#8211; Berlin airport has halted all flights until 10 a.m. (0800 GMT) due to a technical fault, the operator said.



&#8211; Spanish airport operator Aena reported a computer systems &#8220;incident&#8221; at all Spanish airports which may cause flight delays.



&#8211; Amsterdam&#8217;s airport Schiphol, one of the major air transport hubs in Europe, said it was affected by a global cyber outage, and advised travellers to contact their airlines.



&#8211; Top Dutch airline KLM said it could not handle flights on Friday and that it suspended most of its operations. Air France, KLM&#8217;s parent company, said that its operations were disrupted.



&#8211; Turkish Airlines is experiencing problems with ticketing, check-in, and booking due to a global technical issue in its information systems, it said in a post on X.



&#8211; Major U.S. carriers including American Airlines, Delta Airlines and United Airlines issued ground stops on Friday morning citing communication issues.



&#8211; A SAS spokesperson said the Scandinavian airline was expecting delays.



&#8211; Australia&#8217;s national airline Qantas and Sydney airport said planes were delayed but still flying.



&#8211; Passengers at Britain&#8217;s Edinburgh Airport were unable to use automated boarding pass scanners on Friday, and monitors at security displayed a message saying &#8220;server offline&#8221;, a Reuters witness reported.



&#8211; Hong Kong-based airline Cathay Pacific&nbsp;0293.HK&nbsp;said in a note to customers that self-service check in facilities at Hong Kong International Airport were unavailable due to &#8220;unexpected technical issues&#8221;. It advised customers to arrive early or check in online before coming to the airport.



<h2 class="wp-block-heading" id="h-financials">FINANCIALS</h2>



&#8211; Australia&#8217;s largest bank, Commonwealth Bank, said some customers had been unable to transfer money due to the service outage.



&#8211; Several major oil and gas trading desks in London and Singapore were struggling to execute trades due to a cyber outage on Friday, six industry sources told Reuters.



&#8211; Macquarie Capital was unable to provide liquidity for unexpired warrants on HKEX due to technical problems.



&#8211; South Africa&#8217;s Capitec said card payments, ATM and app services were fully restored following significant nationwide disruptions linked to CrowdStrike.



&#8211; LSEG Group&#8217;s Workspace news and data platform suffered an outage on Friday that affected user access worldwide, causing disruption across financial markets.



<h2 class="wp-block-heading" id="h-media">MEDIA</h2>



&#8211; Sky News, one of Britain&#8217;s major television news channels, was off air on Friday.



&#8211; Australia&#8217;s state broadcaster ABC said it was experiencing a &#8220;major network outage&#8221;, without giving a reason.



&#8211; Regular programming at Sky News Australia was disrupted.



<h2 class="wp-block-heading" id="h-emergency-services-healthcare">EMERGENCY SERVICES, HEALTHCARE</h2>



&#8211; A health booking system used by doctors in England is offline, medical officials said on X on Friday.



&#8211; Several hospitals in the Netherlands had to scale down their operations because of the power outage, Dutch press agency ANP reported.



&#8211; Victorian state police in Australia said some internal systems had been hit by the outage but emergency services were operating normally.



&#8211; Copenhagen&#8217;s fire department said on X it was experiencing problems receiving automatically transmitted fire alarms following the outage, and urged people to call 112 in case of a fire.



<h2 class="wp-block-heading" id="h-other">OTHER</h2>



&#8211; A spokesperson for New Zealand&#8217;s parliament said its computer systems had also been affected.



(Reporting by Reuters bureaus; Compiled by Anna Pruchnicka, Andrey Sychev; Editing by Emelia Sithole-Matarise)

108008818-1721376380367-gettyimages-2162122113-europapress_6090171_spain_national_team_plane_arriving_durin

Global tech outage delays flights and disrupts services around the world

<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, July 19 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand slipped against the dollar on Friday, as risk sentiment soured after Donald Trump accepted the nomination as the U.S. Republican presidential candidate.



At 0801 GMT, the rand traded at 18.3525 against the dollar, 0.6% weaker than its previous close.



The dollar index was last trading up 0.18% against a basket of currencies, pushed higher by the possibility of a Trump presidency.



&#8220;The rand is weaker&#8230; this morning, which aligns with weaker EM (emerging market) currencies as risk sentiment sours,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.



&#8220;The stronger dollar and fears of a broader trade war between the US and China are weighing on market sentiment.&#8221;



On the stock market, the Top-40 index was 0.8% lower.



South Africa&#8217;s benchmark 2030 government bond was weaker in early deals, with the yield up 3 basis points at 9.625%.



(Reporting by Bhargav Acharya and Hereward Holland; Editing by Arun Koyyur)

South African Rand Rebound Snaps Streak of Weekly Losses

South African rand slips as risk appetite wanes

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-400697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1076949610-612x612-1-300x200.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of coin stack with city background and world map, financial graph, world map and global network business concept idea, element by NASA.</figcaption></figure>



JOHANNESBURG, July 19 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcements, equity and currency market moves may affect South African markets on Friday.



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



Weekly inflation-linked bond auction



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



Global cyber outage grounds flights, hits media, financial, telecoms



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



South Africa&#8217;s rand was stable on Thursday after the South African Reserve Bank kept its main interest rate unchanged for the seventh meeting in a row.



On the stock market, the Top-40 index was slightly stronger at 0.15%.



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



Asian shares are set to end the week on a sour note, as uncertainty across major economies added to headwinds for investors even as the global rate easing cycle gets under way.



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



U.S. stocks tumbled on Thursday, reversing early gains as investors continued to rotate away from high-priced megacap growth stocks and second-quarter earnings season gathered steam.



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



Gold prices fell on Friday, but were on track for a fourth straight weekly gain as expectations that the Federal Reserve will cut interest rates in September lifted bullion&#8217;s appeal.



&#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; Mixed reaction to Cyril Ramaphosa’s opening of parliament speech



&#8211; Healthcare costs pushing more than half of SA’s TB patients into poverty



(Compiled by Bhargav Acharya)

South African Markets – Factors to watch on July 19

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="485" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/CORIUWLHAJI4LNBBJBT32ZAVTI.jpg" alt="" class="wp-image-422769" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/01/CORIUWLHAJI4LNBBJBT32ZAVTI.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/CORIUWLHAJI4LNBBJBT32ZAVTI-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/01/CORIUWLHAJI4LNBBJBT32ZAVTI-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">Kenya Central Bank Governor Patrick Njoroge displays Kenyan shilling bank notes during a news conference at the Central Bank in Nairobi, Kenya, June 3, 2019. REUTERS/Baz Ratner</figcaption></figure>



NAIROBI, July 19 (Reuters) &#8211; Kenya&#8217;s shilling was stable on Friday but faced pressure from interbank foreign currency demand amid thin supply, traders said.



At 0717 GMT, commercial banks quoted the shilling at 131.00/132.00 per dollar, the same as Thursday&#8217;s close.



&#8220;We haven&#8217;t received demands from oil marketers. It&#8217;s mostly from the interbank space,&#8221; said one trader at a commercial bank.



(Reporting by Hereward Holland; Editing by Bate Felix)

Kenya Central Bank Governor Patrick Njoroge displays the newly designed Kenyan shilling bank notes during a news conference at the Central Bank in Nairobi

Kenyan shilling stable, pressured by interbank FX demand

<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>



July 19 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.



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



Asian shares are set to end the week on a sour note, as uncertainty across the geopolitical landscape and in major economies added to headwinds for investors even as the global rate easing cycle gets under way.



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



Oil prices fell on Friday, setting up for a second weekly decline, as mixed economic signals weighed on investor sentiment and boosted the dollar.



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



South Africa&#8217;s rand was stable on Thursday after the South African Reserve Bank kept its main interest rate unchanged for the seventh meeting in a row.



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



Kenya&#8217;s government on Thursday ratcheted up its appeal for weeks of protests to stop and police tried to ban demonstrations in the heart of the capital Nairobi only to be overruled in court.



<h2 class="wp-block-heading" id="h-sudan-politics">SUDAN POLITICS</h2>



The United States will give an extra $203 million to help millions of civilians affected by the war in Sudan, U.S. Ambassador to the United Nations Linda Thomas-Greenfield said on Thursday, calling on other nations to step up their aid.



<h2 class="wp-block-heading" id="h-rwanda-election">RWANDA ELECTION</h2>



Rwanda&#8217;s President Paul Kagame has been re-elected with 99.18% of the vote, the National Electoral Commission said on Thursday, extending his near quarter-century in office.



<h2 class="wp-block-heading" id="h-cocoa-ghana">COCOA GHANA</h2>



A major cocoa producing region in Ghana, the world&#8217;s second largest cocoa grower, is 81% infected with swollen shoot disease, according to the International Cocoa Organisation (ICCO).



((Compiled by Nairobi Newsroom))

Reuters

Nigeria investigates fuel imports after Dangote Refinery rift with regulator

Tanzania’s president dismisses foreign, information ministers

Ugandan shilling flat; importer FX demand low

Kenyan shilling inches down due to increased importer FX demand

Sasol coal exports up 5% despite production dip

Amplats says on track to demerge in 2025, plans secondary London listing

South African rand stable, inflation data in focus

South African Markets – Factors to watch on July 22

African Markets – Factors to watch on July 22

Kenya’s Ruto retains former ministers in new cabinet appointments

US wants reforms before it returns to key Zimbabwe debt talks: Ambassador

Ugandan shilling inches lower on interbank FX demand

Global tech outage delays flights and disrupts services around the world

South African rand slips as risk appetite wanes

South African Markets – Factors to watch on July 19

Kenyan shilling stable, pressured by interbank FX demand

African Markets – Factors to watch on July 19

News Tips

Advertise With Us

Reuters

Nigeria investigates fuel imports after Dangote Refinery rift with regulator

Tanzania’s president dismisses foreign, information ministers

Ugandan shilling flat; importer FX demand low

Kenyan shilling inches down due to increased importer FX demand

Sasol coal exports up 5% despite production dip

Amplats says on track to demerge in 2025, plans secondary London listing

South African rand stable, inflation data in focus

South African Markets – Factors to watch on July 22

African Markets – Factors to watch on July 22

Kenya’s Ruto retains former ministers in new cabinet appointments

US wants reforms before it returns to key Zimbabwe debt talks: Ambassador

Ugandan shilling inches lower on interbank FX demand

Global tech outage delays flights and disrupts services around the world

South African rand slips as risk appetite wanes

South African Markets – Factors to watch on July 19

Kenyan shilling stable, pressured by interbank FX demand

African Markets – Factors to watch on July 19

News Tips

Advertise With Us

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