<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3109" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JJTN6U4RXVOGBC6M5G6ATJZLDY.avif" alt="" class="wp-image-579747"/><figcaption class="wp-element-caption">A shopper walks to a Woolworths store in Johannesburg, South Africa, March 2, 2022. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Jan 28 (Reuters) &#8211; South African upmarket retailer Woolworths Holdings warned of a decline of up to 27% in its first-half profit on Tuesday due to weaker-than-expected performances in its clothing businesses at home and in Australia and New Zealand.



The company, which also owns food stores in South Africa, said its headline earnings per share were expected to decline by 22% to 27% for the 26 weeks ended Dec. 29 from 203.3 cents in the prior period ended Dec. 24, 2023.



By 0721 GMT, shares in Woolworths were down 2.74% at 56.88 rand.



Group turnover and concession sales for the period rose by 5.7%, and in constant currency by 6.2%, buoyed by the retailer&#8217;s food business, which it said delivered market-leading sales growth of 11.4% and 7.3% on a comparable-store basis.



However, group sales growth for the last eight weeks of the period, particularly over Black Friday, Cyber Monday and the festive season, eased to 4.3%, partly due to a shift in the trading calendar for the period versus the prior period, Woolworths said.



Growth in its food business was &#8220;driven by positive underlying volume growth from improved availability, ongoing innovation, and our enhanced value proposition&#8221;, the retailer said.



Fashion, beauty and home sales in South Africa rose by 2.5%, with sales growth in the last eight weeks constrained to 0.9%.



This was impacted in part by temporary delays in product flow arising from late supplier deliveries, as well as processes and system changes in its distribution centre related to its value chain.



In Australia and New Zealand, where it owns the Country Road fashion chain and where the clothing trading environment remains heavily promotional, driven by price-sensitive consumers, sales declined by 6.2%. However, in the last eight weeks of the period, the decline slowed to a 2.7% fall.



Both fashion businesses in the two markets are undergoing significant transformation, with Country Road reconfiguring its operating model following the sale of and separation from David Jones.



(Reporting by Nqobile Dludla; Editing by Subhranshu Sahu and Emelia Sithole-Matarise)

JJTN6U4RXVOGBC6M5G6ATJZLDY

S.Africa’s Woolworths flags lower half-year profit on weak clothing sales

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="695" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/Z5PBDCODG5PA5OPNKZ5BGEW7TA.avif" alt="" class="wp-image-579730"/><figcaption class="wp-element-caption">Shoppers leave the Shoprite store in Daveyton, South Africa May 23, 2018. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Jan 28 (Reuters)&nbsp;&#8211;&nbsp;Shoprite Holdings&nbsp;SHPJ.J, South Africa&#8217;s biggest supermarket retailer, said on Tuesday its half-year sales from continuing operations grew by 9.6%, as both upmarket and discount customers stocked up on food during the festive season.



Shoprite, with more than 2,700 stores excluding OK Franchise across 10 countries, said sales in the six-month period ended Dec. 29 came in at 128.6 billion rand ($6.84 billion).



The group&#8217;s core business, Supermarkets South Africa, contributing 83.7% to group sales, achieved sales growth of 10.4%, with like-for-like sales growth of 6.1%.



Shoprite&#8217;s rest of Africa supermarkets business, which operates in nine countries, saw a 4.1% increase in sales.



In the three-month quarter ended December, which included the Christmas and Black Friday period, Shoprite saw sales grow by 8.7%.



($1 = 18.8013 rand)



(Reporting by Nqobile Dludla; Editing by Himani Sarkar and Sherry Jacob-Phillips)

Z5PBDCODG5PA5OPNKZ5BGEW7TA

S.African retailer Shoprite posts half-year sales growth on festive 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>



Jan 28 (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-global-markets">GLOBAL MARKETS</h2>



U.S. stock futures steadied, the dollar ticked higher and tech stocks in Asia slid on Tuesday following a wave of selling as apparent advances by a Chinese AI startup cast doubt on U.S. dominance and spending in one of the market&#8217;s hottest sectors.



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



Oil prices ticked up but hovered near a two-week low on Tuesday after weak economic data from China and warming weather forecasts elsewhere soured the demand outlook.



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



South Africa&#8217;s rand slipped on Monday ahead of a week packed with domestic and international data releases, with eyes set on interest rate decisions from the Federal Reserve and the South African Reserve Bank (SARB).



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



Kenya&#8217;s shilling was unchanged against the dollar on Monday, data from the London Stock Exchange Group showed.



<h2 class="wp-block-heading" id="h-congo-security">CONGO SECURITY</h2>



Rwandan-backed rebels marched into eastern Congo&#8217;s largest city Goma on Monday, and the U.N. said they were supported by at least some regular Rwandan troops, in the worst escalation of a long-running conflict for more than a decade.



<h2 class="wp-block-heading" id="h-ghana-rates">GHANA RATES</h2>



Ghana&#8217;s central bank left its main interest rate unchanged on Monday, saying that inflation was expected to start falling again and that detailed talks on monetary policy were difficult before the new government publishes its economic policy plans.



<h2 class="wp-block-heading" id="h-mali-mining">MALI MINING</h2>



Mali&#8217;s government and Barrick Gold will start a new round of negotiations on Tuesday to resolve a deepening dispute over the alleged nonpayment of taxes by the Canadian miner and the seizure of its gold stocks by authorities in the country, two sources familiar with the matter told Reuters.



<h2 class="wp-block-heading" id="h-sudan-war">SUDAN WAR</h2>



After a week of whirlwindgains for the Sudanese army and allies in the capital Khartoum, leaders hailed a turning point in the civil war, speaking to reporters from inside the army&#8217;s main headquarters that had been besieged since April 2023.



<h2 class="wp-block-heading" id="h-africa-power">AFRICA POWER</h2>



Several African nations committed on Monday to open up their electricity sectors to attract investors and light up homes of 300 million people currently lacking power in the next six years.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Jan 28

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3031" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/73EXY37Q6NO7LAJCPMU3KDMKFY.avif" alt="" class="wp-image-579711"/><figcaption class="wp-element-caption">Boxes of Jungle Oats, one of South Africa&#8217;s Tiger Brands original products, are displayed on a shelf at a Pick n Pay store in Johannesburg, South Africa, March 29, 2022. REUTERS/Siphiwe Sibeko/File Photo </figcaption></figure>



Jan 28 (Reuters) &#8211; Tiger Brands, South Africa&#8217;s biggest food producer, said on Tuesday it would sell its 24.4% stake in food producer Empresas Carozzi back to Chilean parent Carozzi for $240 million to focus on its domestic business.



Tiger Brands is in the middle of a turnaround plan that includes adjusting its product pricing, cutting costs and reducing the number of brands and products it sells.



Carozzi, a more-than-125-year-old company that sells everything from sauces and dressings to powdered beverages and pet foods, already owns 75.6% of Empresas Carozzi.



Tiger Brands bought the stake in Empresas Carozzi in 1999 to expand its presence in Latin America.



Due to its new strategy to grow business at home, further expansion into Latin America was &#8220;no longer a strategic priority,&#8221; the South African company said in a statement.



It said it would invest proceeds of the stake sale into its core business and any excess cash will be returned to shareholders through share buybacks or special dividends.



(Reporting by Shashwat Awasthi; Editing by Savio D&#8217;Souza)

73EXY37Q6NO7LAJCPMU3KDMKFY

SA’s Tiger Brands to sell Empresas Carozzi stake for $240 mln, focus at home

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3333" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/YYERAJUE3JOPHHY65DDUCKZGTE.avif" alt="" class="wp-image-579414"/><figcaption class="wp-element-caption">World Bank President Ajay Banga speaks at the meeting on methane and non-CO2 greenhouse gases at the United Nations COP29 climate change conference in Baku, Azerbaijan November 12, 2024. REUTERS/Murad Sezer/File Photo</figcaption></figure>



DAR ES SALAAM, Jan 27 (Reuters)&nbsp;&#8211;&nbsp;Policymakers around the globe should not react in haste to announcements by U.S. President Donald Trump&#8217;s administration, and be prepared to argue their case, World Bank President Ajay Banga told Reuters.



Trump&#8217;s first week in office has seen a flurry of executive orders and policy plans, ranging from tariffs on Canada, Mexico and China to a review on all existing foreign assistance.



&#8220;My only advice to everyone is don&#8217;t be in too much of a hurry to respond or judge,&#8221; Banga told Reuters in an interview on the sidelines of the Mission 300 Africa Energy Summit in Tanzania&#8217;s commercial capital of Dar Es Salaam.



Policymakers should wait to see what policies are actually executed, Banga added.



&#8220;I have dealt with him (Trump) in the past. He is a very practical man, he understands numbers, he understands leverage and he understands advantage. You have to go to him and explain to him what you bring.&#8221;



The U.S. and Colombia pulled back from the brink of a trade war on Sunday after the White House said its third-largest U.S. trading partner in Latin America had agreed to accept military aircraft carrying deported migrants.



Washington&#8217;s draft measures &#8211; now on hold &#8211; had included imposing steep and rising tariffs on all Colombian imports, a travel ban and visa revocations on Colombia government officials.



The World Bank could feel the effects of any travel restrictions.



&#8220;If their visas don&#8217;t work, that&#8217;s a problem,&#8221; said Banga.



Asked about Friday&#8217;s &#8220;stop-work&#8221; order issued by the U.S. State Department on all existing and future foreign assistance, Banga said the Washington-based lender was &#8220;not yet&#8221; affected as it operated differently to bilateral aid.



Asked about return to office plans for World Bank staff, Banga said he had no plans to change the mandate beyond the current four days a week.



&#8220;I expect World Bank employees to be back four days a week&#8230;There&#8217;s no plan to increase that to five.&#8221;



Trump has ordered federal workers to return to the office five days a week.



(Reporting by Duncan Miriri, writing by Karin Strohecker, editing by Christina Fincher)

YYERAJUE3JOPHHY65DDUCKZGTE

World Bank president cautions against hasty reaction to Trump policies

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1800" height="1200" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/VFKU2JNBTBIDVNPMOMLDRAUIO4.avif" alt="" class="wp-image-560171"/><figcaption class="wp-element-caption">Pedestrians walk in front of Ghana&#8217;s central bank building in Accra, Ghana, November 16, 2015. REUTERS/Francis Kokoroko/File Photo</figcaption></figure>



ACCRA, Jan 27 (Reuters) &#8211; Ghana&#8217;s central bank kept its main interest rate at 27.00% for the second meeting in a row on Monday, after inflation rose last month.



The West African gold and cocoa producer, which defaulted on most of its external borrowing in December 2022, is emerging from its worst economic crisis in a generation, helped by a $3 billion loan programme from the International Monetary Fund.



Bank of Ghana Governor Ernest Addison told reporters that the inflation profile remained elevated, &#8220;largely driven by food prices movement especially in the last quarter of the year.&#8221;



Ghana&#8217;s consumer inflation rose in December to 23.8% in annual terms, the highest rate in eight months. It remains well above the central bank&#8217;s 8% target with a margin of error of 2 percentage points either side.



(Reporting by Christian Akorlie; Writing by Anait Miridzhanian; Editing by Alexander Winning)

VFKU2JNBTBIDVNPMOMLDRAUIO4

Ghana central bank holds policy rate for second meeting in a row

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="439" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand-Dec.avif" alt="" class="wp-image-568249"/><figcaption class="wp-element-caption">South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration/File Photo</figcaption></figure>



JOHANNESBURG, Jan 27 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand slipped on Monday, ahead of a week packed with domestic and international data releases, with eyes set on interest rate decisions from the Federal Reserve and the South African Reserve Bank (SARB).



At 0657 GMT, the rand traded at 18.50 against the dollar, about 0.5% weaker than its previous close.



The dollar last traded about 0.1% stronger against a basket of currencies as traders pondered the ramifications of U.S. President Donald Trump&#8217;s tariff plans.



Global investor focus will be on the Fed this week, which will conclude its two-day meeting on Wednesday. It is widely expected to hold interest rates steady.



Domestic investors will then shift their attention towards the SARB&#8217;s first interest rate decision for 2025 on Thursday. Economists polled by Reuters estimate a 25 basis point cut to 7.50%.



&#8220;Despite soft inflation, uncertainties around fiscal policy, Eskom tariff hikes, and Trump&#8217;s global economic stance could push the SARB to adopt a cautious approach,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.



South Africa&#8217;s benchmark 2030 government bond was weaker in early deals, with the yield up 6.5 basis points to 9.045%.



(Reporting by Sfundo Parakozov; Editing by Bhargav Acharya and Rashmi Aich)

rand Dec

South African rand weakens ahead of data-filled week

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="3635" height="2633" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/VBIWQECG2BIYTB5AT2YWGLXVKE.avif" alt="" class="wp-image-578255"/><figcaption class="wp-element-caption">One of the rail-mounted stacker reclaimers that scoop up and transfer coal into and out of the yard is seen at Africa&#8217;s largest coal export facility, the Richards Bay Coal Terminal, Richards Bay harbour, South Africa, June 21, 2018. REUTERS/Tanisha Heiberg/File Photo</figcaption></figure>



Jan 24 (Reuters)&nbsp;&#8211;&nbsp;Coal exports from South Africa&#8217;s Richards Bay Coal Terminal (RBCT) rose 10% to 52.08 million metric tons in 2024, the highest in three years, amid signs of improving freight rail performance.



South Africa&#8217;s coal shipments have declined from 76 million tons in 2017, mainly due to state-owned freight rail and port operator Transnet&#8217;s lack of capacity to haul commodities to export markets.



Coal exports through RBCT, South Africa&#8217;s main coal export terminal, fell to 47.21 million tons in 2023, the lowest since 1992.



Transnet&#8217;s struggles are blamed on a lack of locomotives and spares, as well as cable theft and vandalism of its infrastructure. This has forced some minerals exporters to resort to trucking to port, with some commodity cargo now going through Mozambique.



However, some major coal exporters, including Thungela Resources and Exxaro Resources, said they noted improved freight rail performance during the second half of 2024.



RBCT said in a performance update on Friday that 6,342 trains were offloaded at the terminal in 2024, up from 5,820 the year before. The average number of trains also edged up to 17 per day in 2024, from 16 the previous year.



In 2024, Asia&#8217;s share of South Africa&#8217;s coal exports increased to 43.99 million tons, or 84.5% of the total, up from 37.1 million the previous year. India accounted for 25.75 million tons of the exports, while Pakistan imported 2.37 million tons.



Shipments to Europe, which surged to 14.3 million tons in 2022 after the European Union banned coal from Russia following the invasion of Ukraine, further declined to 3.54 million tons last year, after falling to 6.8 million tons in 2023.



(Reporting by Nelson Banya; Editing by Mark Potter)

VBIWQECG2BIYTB5AT2YWGLXVKE

S.Africa’s Richards Bay exports up 10% in 2024 amid rail improvement

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



JOHANNESBURG, Jan 24 (Reuters) &#8211; South Africa&#8217;s rand firmed on Friday against a weaker dollar after U.S. President Donald Trump demanded lower interest rates from the Federal Reserve, driving down Treasury yields.



At 0848 GMT, the rand traded at 18.35 against the U.S. dollar, about 1% stronger than its previous close. The greenback last traded about 0.6% weaker against a basket of currencies.



Data out of the world&#8217;s biggest economy on Thursday showed a rise in weekly jobless claims, while Trump, speaking virtually at the World Economic Forum meeting at Davos, said he would demand lower interest rates.



The&nbsp;jobless claims and Trump&#8217;s remarks&nbsp;led to a revision of U.S. rate cut expectations and drove&nbsp;U.S. Treasury yields lower on Friday, ETM Analytics said in a research note.



&#8220;In turn, the dollar has come under renewed pressure, with the rand taking advantage as it trades to its strongest levels since before Christmas. Whether the rand bulls can sustain this momentum into the weekend remains to be seen.&#8221;



But analysts said that although dollar weakness supports the local currency, tariff risks posed by Trump and a fragile global sentiment could limit further gains.



Next week, domestically focused investors will look to the South African Reserve Bank (SARB) when it announces its first interest rate decision for 2025 on Jan. 30.



&#8220;With the SARB, Fed and (European Central Bank) meetings ahead, central bank guidance will heavily influence (foreign exchange) and bond markets,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.



South Africa&#8217;s benchmark 2030 government bond was stronger, with the yield down 8 basis points to 8.975%.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded up more than 1%.



(Reporting by Tannur Anders; additional reporting by Sfundo Parakozov; editing by Rashmi Aich and Mark Heinrich)

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

South African rand rallies against weaker dollar, US Fed rates in focus

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-820x547.jpg" alt="" class="wp-image-578192" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Wale Edun, Nigeria&#8217;s finance minister, during a Bloomberg Television interview on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 17, 2024. The annual Davos gathering of political leaders, top executives and celebrities runs from January 15 to 19. Photographer: Stefan Wermuth/Bloomberg via Getty Images</figcaption></figure>



DAVOS, Switzerland, (Reuters) &#8211; Nigeria needs to double economic growth within the next year or two from an annualized rate of 3.5% in the third quarter to lift its population out of poverty, its finance minister told Reuters on Thursday at the World Economic Forum&#8217;s annual meeting.



Finance Minister and Coordinating Minister for the Economy Wale Edun said Nigeria was on the path to growth after a year of tough economic reforms that sent inflation soaring, but should open the door for more investment.



Edun said he had been meeting in Davos this week with business leaders in the areas of consumer goods, food and beverages, financial services and infrastructure to promote investments, he said in a Thursday interview.



&#8220;It&#8217;s a steady trickle now. What we want is a stream and at the end of the day a flood of investment,&#8221; he said.



Nigeria has been trying to encourage private investment rather than rely on borrowing to create jobs, as the government searches for a solution to sluggish growth, double-digit inflation and a heavy debt burden.



President Bola Tinubu has vowed to expand the economy by at least 6% a year, create jobs and unify the exchange rate, while also tackling rampant insecurity.



Tinubu scrapped a popular but costly petrol subsidy and lifted foreign exchange trading restrictions. That contributed to consumer inflation, but Edun expressed confidence that Nigerians would soon be past their cost of living crisis.



Central Bank Governor Olayemi Cardoso on Thursday said he expected the economy to expand by 4.17% this year, driven by ongoing reforms and stabilising inflation.



(Writing by Chijioke Ohuocha; Editing by Mark Potter)

Day Two Of The World Economic Forum (WEF) 2024

Nigeria needs to double economic growth within a year or two, finance minister says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="573" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-820x573.jpg" alt="" class="wp-image-578172" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-820x573.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-129x90.jpg 129w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-768x537.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-1536x1074.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Solar panels are seen near the cooling towers of a retired coal-fired Komati Power Station, operated by Eskom, near Komati village, in the Mpumalanga province in South Africa, May 9, 2024. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Jan 24 (Thomson Reuters Foundation)&nbsp;&#8211;&nbsp;Inconsistent government and corporate climate strategies may see poorer regions left behind in the transition away from polluting industries to green jobs, according to new research.



Wealthier cities like Durban, Cape Town and Johannesburg, have more advanced plans to cut emissions and adapt to climate impacts than less affluent regions, said the analysis of more than 50 government and corporate entities by South African non-profit SouthSouthNorth (SSN).



&#8220;If poorer provinces are left behind, the socio-economic divide will widen, disproportionately affecting vulnerable groups such as miners, informal workers and women,&#8221; said Samson Mbewe, an SSN project lead.



The northeastern province of Mpumalanga, for example, is the heartland of South Africa&#8217;s coal production. The closure of coal plants there could lead to sharp rises in unemployment if new green jobs do not fill the void, Mbewe said.



The country&#8217;s new Climate Change Act requires all levels of government to align their policies and actions with its goals of a low-carbon economy through, for example, setting and mandating greenhouse gas emission targets for companies.



But the analysis of these entities showed significantly different levels of preparation, a discrepancy that could lead to the regions with already high levels of unemployment being left behind when it comes to new jobs in the clean energy economy, the report warns.



South Africa is Africa&#8217;s most industrialised nation, with more than 80% of its power drawn from its coal reserves, according to the Department of Mineral Resources and Energy. It is also one of the top 15 greenhouse gas emitters worldwide, ahead of France and Britain.



In 2021, South Africa became the first country to accept the Just Energy Transition Partnership (JETP) deal in which richer nations pledged $8.5 billion to accelerate the country&#8217;s shift away from coal to renewables, while protecting local employment.



The term &#8220;just transition&#8221; refers to ensuring job creation in clean energy sectors as countries phase out polluting industries and move towards renewable energy, according to the presidential climate commission.



South Africa&#8217;s vast areas of sun-soaked land make it ideal for renewable energy projects that promise new jobs in a country suffering from 32% unemployment.



But communities are nervous that this type of work may be scarce and struggle to replace coal sector employment of some 90,000 people.



<h2 class="wp-block-heading" id="h-climate-change-act">CLIMATE CHANGE ACT</h2>



South Africa&#8217;s Climate Change Act was signed into law in July last year, but the SSN analysis found multinational firms and different layers of government had all made varied levels of progress.



&#8220;Our analysis of the climate plans of the key engines of South Africa&#8217;s economy reveals a patchwork of different approaches to achieving a fair, people-focused transition,&#8221; said Camilla Hyslop, data lead at Net Zero Tracker, a report partner.



Some companies&#8217; climate strategies make broad, sweeping pledges linked to achieving net zero emissions by 2050, but lack any wording around local employment and decent wages that need to be protected in the process, the analysis found.



&#8220;Some companies entirely overlook the need for a transition &#8211; just or otherwise,&#8221; Hyslop said.



The SSN analysis also found that the major cities were surpassing provincial climate policy strategies, which should learn from successful city actions.



For example, Durban&#8217;s plan goes into detail about reforestation projects that it says will help capture carbon.



But Kwazulu-Natal province, where Durban is found, speaks little about new, clean jobs that could replace those lost in polluting sectors such as petrochemical industries.



Less affluent, coal-dependent regions found in Mpumalanga have no formal net zero targets with no long-term structured plan on how the transition away from coal will take place.



<h2 class="wp-block-heading" id="h-patchwork-plans">PATCHWORK PLANS</h2>



The analysis recommendations include creating committees between different levels of government to better align climate plans, increased funding and technical support for poorer regions and incentivising companies to adopt robust transition plans.



Coordination between different government tiers would tackle a &#8220;missed opportunity&#8221; for provinces to draw inspiration from cities&#8217; climate plans said Ian Steuart, a senior economist at the Trade and Industrial Policy Strategies (TIPS).



But placing communities at the heart of these plans through bringing the policies to them in local forums is key, said Chantal Naidoo, executive director of Rabia Transitions, a South African transitions finance research and advisory non-profit.



&#8220;We work through civil society groups &#8230; saying to them, you need to help government understand what justice looks like at your level,&#8221; said Naidoo, who also worked on the JETP presidential investment plan.



(Reporting by Kim Harrisberg @KimHarrisberg; Editing by Jack Graham and Jon Hemming. The Thomson Reuters Foundation is the charitable arm of Thomson Reuters.)

FILE PHOTO: South Africa’s ANC walks political tight rope over coal plant shutdowns

South Africa’s patchwork climate plans risk widening inequality

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-820x547.jpg" alt="" class="wp-image-577956" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Duma Gideon Boko, President of Botswana; Godfrey Mutizwa, Chief Editor, CNBC Africa, South Africa; Leila Fourie, Group Chief Executive Officer, Johannesburg Stock Exchange, South Africa; Samaila Zubairu, President and Chief Executive Officer, Africa Finance Corporation &#8211; AFC, Lagos; Wamkele Keabetswe Mene, Secretary-General, African Continental Free Trade Area Secretariat, Accra; speaking in Africa’s Economy: Young and Fast session at the World Economic Forum Annual Meeting 2025 in Davos-Klosters, Switzerland, 21/1/2025, 17:30 – 18:15 at Congress Centre &#8211; Aspen 2. Stakeholder Dialogue. Copyright: World Economic Forum / Chris Heeney</figcaption></figure>



DAVOS, Switzerland, Jan 23 (Reuters)&nbsp;&#8211;&nbsp;Top diamond producer Botswana&#8217;s new President Duma Boko said on Thursday that he hoped to clinch a long-delayed sales pact with industry giant De Beers as early as Friday but underlined the need to diversify the Southern African nation&#8217;s economy.



Boko, a 55-year-old lawyer, took the reins of Botswana &#8211; one of Africa&#8217;s richest countries &#8211; in November following a landslide election upset that ended nearly six decades of rule by the Botswana Democratic Party (BDP).



He has made the task of finalising the deal with Anglo American&#8217;s De Beers unit an early priority.



Speaking at a Reuters NEXT Newsmaker at the World Economic Forum&#8217;s annual meeting in Davos, Switzerland, Boko said his government was in agreement with De Beers on most issues. All that remained was &#8220;tidying up&#8221;, he added.



Asked by Reuters Editor-in-Chief Alessandra Galloni when the deal would be signed, Boko said: &#8220;I&#8217;m hoping it is tomorrow. I mean it literally.&#8221;



Botswana and De Beers agreed a new pact in 2023, which would see the government&#8217;s share of diamonds from the Debswana joint venture gradually increase to 50% over the next decade. But it was never signed under Boko&#8217;s predecessor Mokgweetsi Masisi.



Debswana currently sells 75% of its output to De Beers.



In addition, Boko said talks aimed at increasing Botswana&#8217;s ownership stake in De Beers &#8211; currently at 15% &#8211; were &#8220;going well&#8221;.



Anglo American is looking to divest De Beers as part of a broader restructuring of its sprawling business.



<h2 class="wp-block-heading" id="h-challenges-and-opportunities">CHALLENGES AND OPPORTUNITIES</h2>



Like many African countries, Botswana&#8217;s economy is largely dependent on the export of a single commodity &#8211; in its case, diamonds, of which it is the world&#8217;s leading producer by value.



Unlike many of its continental neighbours, its leaders have invested their commodity windfall in health, education and social welfare.



The strategy has largely paid off. Botswana&#8217;s GDP per capita was $7,250 in 2023 &#8211; compared with an average for sub-Saharan Africa of $4,800, World Bank data shows.



Analysts, however, blamed mounting economic grievances, particularly among young people, for the downfall of the BDP, which had governed the nation of around 2.5 million people since independence from Britain in 1966.



&#8220;The so-called liberation parties did the best they could,&#8221; Boko said. &#8220;It seems to me that many of them have now outlived their welcome and their usefulness.&#8221;



On the campaign trail, Boko&#8217;s coalition pledged to more than double the minimum wage, improve social services and create a more independent judiciary, among other measures.



But the new president faces headwinds.



The economy likely contracted last year on a downturn in the global diamond market and unemployment has been on the rise.



The finance ministry is now forecasting a diamond rebound and GDP growth of 3% to 4% this year. However, Boko told the Reuters event that Botswana could not rely solely on diamonds.



&#8220;We are looking to power the economy of Botswana. We&#8217;re looking to diversify it,&#8221; he said, adding that his government would focus on the green economy, climate-smart agriculture, renewable energy and diversifying the mining sector.



While many world leaders are viewing the return to power of U.S. President Donald Trump with concern, Boko said the new Washington administration&#8217;s vow to bring its foreign policy in line with American self-interest was not necessarily a threat.



&#8220;(The) West has every reason to play its part in Africa, because if it doesn&#8217;t, there are others who will want to play some part. We have China in the wings, and it&#8217;s seeking&#8230; to exert influence on Africa,&#8221; he said.



(Additional reporting by Bhargav Acharya and Sfundo Parakozov in Johannesburg; Writing by Tannur Anders and Joe Bavier Editing by Alexander Winning, William Maclean)

World Economic Forum Annual Meeting 2025 in Davos-Klosters

Botswana president aims to clinch De Beers deal, diversify economy

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-820x547.jpg" alt="" class="wp-image-577776" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">DAVOS, CANTON OF GRAUBüNDEN, SWITZERLAND &#8211; 2019/01/24: Cyril Ramaphosa, president of South Africa, attends a panel at the 2019 World Economic Forum which took place in Davos from January 22 to 25. (Photo by Thierry Falise/LightRocket via Getty Images)</figcaption></figure>



DAVOS, Switzerland, (Reuters) &#8211; South Africa&#8217;s President Cyril Ramaphosa said on Wednesday that he was not worried about the country&#8217;s relationship with the U.S. under President Donald Trump.



Ramaphosa said he spoke to Trump after his U.S. election victory and looked forward to working with his administration.



&#8220;I&#8217;m not worried about our relations. I spoke to him soon after he was elected, congratulated him, and we both said we are looking forward to continued dealings and engagements,&#8221; he told reporters on the sidelines of the World Economic Forum&#8217;s annual meeting in Davos, Switzerland.



South Africa currently holds the G20 presidency, after which the U.S. takes over.



Ramaphosa said South Africa would work with the U.S. to prepare it for its G20 presidency. 



(Reporting by Brad Haynes; Writing by Bhargav Acharya; Editing by Alexander Winning)

Cyril Ramaphosa, president of South Africa, attends a panel

South Africa not worried about relationship with US under Trump, Ramaphosa says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1908" height="1363" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/DPL3JG6BMVNRRNWVIDNA74R5A4.avif" alt="" class="wp-image-577510"/><figcaption class="wp-element-caption">Zimbabwe Finance Minister Mthuli Ncube arrives to present the 2020 National Budget at Parliament Building in Harare, Zimbabwe, November 14, 2019. REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



Jan 22 (Reuters)&nbsp;&#8211;&nbsp;Zimbabwe&#8217;s finance minister expressed concern on Wednesday that a U.S. withdrawal from the World Health Organization will lead to aid cuts to countries such as his that are most affected by HIV/AIDS.



President Donald Trump signed an executive order on the U.S. withdrawal after his inauguration to a second term on Monday.



Warning that a U.S. withdrawal could signal cuts in health aid to countries such as Zimbabwe, Finance Minister Mthuli Ncube said: &#8220;Any country with an HIV/AIDS challenge will be impacted.&#8221;



&#8220;This is a concern, a fear we are expressing,&#8221; Ncube told an online briefing from the Swiss resort of Davos, where was attending the World Economic Forum.



Zimbabwe receives over $200 million annually from the U.S. President&#8217;s Emergency Plan for AIDS Relief (PEPFAR), and the U.S government has given Zimbabwe over $1.7 billion since 2006 to strengthen health systems and support people living with HIV, according the U.S. embassy in Harare.



PEPFAR contributes nearly $90 million a year to support salaries and incentives for healthcare workers in Zimbabwe, in addition to funding HIV and viral load testing, prevention, cervical cancer screening and tuberculosis treatment.



Zimbabwe is struggling to fund its public health system, and the government introduced a sugar tax on beverages last year to help raise funds for cancer treatment. Another tax on fast foods was introduced this year.



&#8220;We need to scale up our funding for health. The earmarked taxes should be directed towards health as we build our capacity to fill the gap should any funding recede,&#8221; Ncube said.



(Reporting by Nyasha Chingono; Editing by Tannur Anders and Timothy Heritage)

DPL3JG6BMVNRRNWVIDNA74R5A4

Zimbabwe fears US withdrawal from WHO will hit HIV/AIDS programmes

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-820x547.jpg" alt="" class="wp-image-577169" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Lesetja Kganyago, governor of South Africa&#8217;s Reserve Bank, during a Bloomberg Television interview at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 21, 2025. The annual Davos gathering of political leaders, top executives and celebrities runs from January 20 to 24. Photographer: Hollie Adams/Bloomberg via Getty Images</figcaption></figure>



DAVOS, Switzerland, Jan 21 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s economic outlook is better this year than last, but the inflation picture is more muddied as risks abound, its central bank governor said on Tuesday.



South African Reserve Bank (SARB) Governor Lesetja Kganyago told Reuters in an interview at the World Economic Forum&#8217;s annual meeting in Davos, Switzerland, that growth in Africa&#8217;s most industrialised economy could be close to 2% in 2025, versus the 1.1% growth projected for 2024.



&#8220;Depending on who is forecasting, growth varies between 1.6% and 2% (this year). We think &#8230; it would be closer to 2% than closer to 1.6%,&#8221; he told the Reuters Global Markets Forum.



Kganyago cited the formation of a broad coalition government last year as one of the key enablers of faster growth.



&#8220;The structural reform agenda has gained momentum, and it has been given impetus by this Government of National Unity with a very clear focus on taking South Africa&#8217;s economic trajectory to the next level,&#8221; he said.



The coalition that emerged after the long-ruling African National Congress lost its parliamentary majority includes the business-friendly Democratic Alliance and a host of other smaller parties from across the political spectrum.



Investors are optimistic that reforms in key sectors such as electricity, freight rail and the visa system will accelerate and lift the annual growth rate beyond the meagre 1% it has averaged over the past decade.



Kganyago warned that South Africa&#8217;s inflation outlook could be muddied by factors including protectionist policies with the return of U.S. President Donald Trump to the White House.



With other risks including the rand exchange rate, the global oil price and local food prices, there are &#8220;too many moving parts&#8221; to have a clear view on price pressures, he said.



Annual consumer inflation was at 2.9% in November, below the SARB&#8217;s target range of 3%-6%, although it is expected to rise in December and this year average about 4.5%, the midpoint of the range which the bank aims for.



The SARB cut interest rates at its last two meetings of 2024, and many analysts expect a further cut at its first announcement of the year next Thursday.



(Reporting by Divya Chowdhury in Davos; Additional reporting and writing by Kopano Gumbi in Johannesburg; Editing by Alexander Winning and Alex Richardson)

Opening Day Of World Economic Forum (WEF) 2025

South African growth outlook has improved but inflation risks abound, central bank says at Davos

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="504" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-820x504.jpg" alt="" class="wp-image-577142" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-820x504.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-300x185.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-146x90.jpg 146w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-768x472.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-1536x945.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Protesters throw stones during a &#8220;national shutdown&#8221; against the election outcome, at Luis Cabral township in Maputo, Mozambique, November 7, 2024. REUTERS/Siphiwe Sibeko</figcaption></figure>



Jan 21 (Reuters)&nbsp;&#8211;&nbsp;Mozambique&#8217;s largest port, Maputo, reported a 1% decline in volumes in 2024 mainly due to post-election protests that forced border closures and road blockages, the port operator said on Tuesday.



The southeast African country was rocked by opposition protests after a disputed Oct. 9 vote won by Daniel Chapo and his Frelimo party, which has governed Mozambique since 1975. The unrest has left more than 300 people dead following a crackdown by security forces.



Maputo port volumes for 2024 dipped to 30.9 million metric tons, from a record 31.2 million metric tons in 2023, the Maputo Port Development Company (MPDC) said in a statement.



&#8220;The slight decrease in total volumes &#8230; was primarily due to the post-electoral protests and road blockages in the Maputo corridor, including border closure for several days and conditioned border and road operations for more than a month consolidated,&#8221; MPDC said.



The rail corridor from South Africa to Mozambique was also affected by the protests and blockages, paired with a derailment in October and November, which shut the line for a month, MPDC added.



The Maputo port is handling growing volumes mainly driven by commodity exporters increasingly sending cargo through Mozambique to get around logistics bottlenecks in South Africa. Goods handled include coal, chrome, copper, and grains such as maize and wheat.



The MPDC is a consortium including multinational logistics firm DP World, South Africa&#8217;s Grindrod Ltd, and Mozambique&#8217;s state-owned rail operator Caminhos de Ferro de Moçambique.



The consortium, first granted the Maputo port concession in 2003, was last year granted an extension to 2058. The port is also set to be expanded to handle 58 million tons of cargo, from 37 million tons currently.



(Reporting by Nelson Banya; Editing by Mark Potter)

Mozambique opposition party leads national shutdown against election outcome

Mozambique’s Maputo port volumes dip after post-election unrest

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="576" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-820x576.jpg" alt="" class="wp-image-424954" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-820x576.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-300x211.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-768x540.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-1536x1079.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/LA24V6GG4VKUROZCEGVVO63DKQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A street money changer counts South African Rands in Harare, Zimbabwe, file. REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



JOHANNESBURG, Jan 21 (Reuters) &#8211; South Africa&#8217;s rand retreated early on Tuesday against a buoyant dollar after U.S. President Donald Trump announced a flurry of policy changes following his Monday inauguration.



At 0712 GMT, the rand traded at 18.6150 against the U.S. dollar, about 0.6% weaker than its previous close. It gained about 1% on Monday ahead of Trump&#8217;s swearing in.



The dollar last traded about 0.4% stronger against a basket of currencies.



Trump did not take immediate action to raise tariffs, a focus for global markets, but said the world&#8217;s biggest economy could impose tariffs on Canada and Mexico in the near future.



&#8220;I think we need to wait until Trump&#8217;s government is fully installed before decisions come on tariffs,&#8221; said Adam Phillips, treasury specialist at Umkhulu Treasury.



Like other risk-sensitive currencies, the rand often takes direction from global drivers like U.S. fiscal policy in addition to local factors.



Domestically focused investors will on Tuesday look to November mining production data expected at 0930 GMT and South African President Cyril Ramaphosa&#8217;s address to the World Economic Forum later in the day.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded about 0.1% down.



South Africa&#8217;s benchmark 2030 government bond was stronger, with the yield down 2.5 basis points to 9.145%.



(Reporting by Tannur Anders: Editing by Neil Fullick)

Reuters

S.Africa’s Woolworths flags lower half-year profit on weak clothing sales

S.African retailer Shoprite posts half-year sales growth on festive demand

African Markets – Factors to watch on Jan 28

SA’s Tiger Brands to sell Empresas Carozzi stake for $240 mln, focus at home

World Bank president cautions against hasty reaction to Trump policies

Ghana central bank holds policy rate for second meeting in a row

South African rand weakens ahead of data-filled week

S.Africa’s Richards Bay exports up 10% in 2024 amid rail improvement

South African rand rallies against weaker dollar, US Fed rates in focus

Nigeria needs to double economic growth within a year or two, finance minister says

South Africa’s patchwork climate plans risk widening inequality

Botswana president aims to clinch De Beers deal, diversify economy

South Africa not worried about relationship with US under Trump, Ramaphosa says

Zimbabwe fears US withdrawal from WHO will hit HIV/AIDS programmes

South African growth outlook has improved but inflation risks abound, central bank says at Davos

Mozambique’s Maputo port volumes dip after post-election unrest

South African rand retreats against sturdy dollar after Trump swearing in

News Tips

Advertise With Us

Reuters

S.Africa’s Woolworths flags lower half-year profit on weak clothing sales

S.African retailer Shoprite posts half-year sales growth on festive demand

African Markets – Factors to watch on Jan 28

SA’s Tiger Brands to sell Empresas Carozzi stake for $240 mln, focus at home

World Bank president cautions against hasty reaction to Trump policies

Ghana central bank holds policy rate for second meeting in a row

South African rand weakens ahead of data-filled week

S.Africa’s Richards Bay exports up 10% in 2024 amid rail improvement

South African rand rallies against weaker dollar, US Fed rates in focus

Nigeria needs to double economic growth within a year or two, finance minister says

South Africa’s patchwork climate plans risk widening inequality

Botswana president aims to clinch De Beers deal, diversify economy

South Africa not worried about relationship with US under Trump, Ramaphosa says

Zimbabwe fears US withdrawal from WHO will hit HIV/AIDS programmes

South African growth outlook has improved but inflation risks abound, central bank says at Davos

Mozambique’s Maputo port volumes dip after post-election unrest

South African rand retreats against sturdy dollar after Trump swearing in

News Tips

Advertise With Us

Newsletters