<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="399" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/ORFYTKEYH5LPDNKGB5ILWDBQIU.avif" alt="" class="wp-image-573081"/><figcaption class="wp-element-caption">A view shows a banner with the logo of the annual BRICS summit next to the Kazan Kremlin in Kazan, Russia October 22, 2024. REUTERS/Maxim Shemetov/File Photo</figcaption></figure>



SAO PAULO, Jan 6 (Reuters)&nbsp;&#8211;&nbsp;Indonesia will&nbsp;formally join BRICS as a full member,&nbsp;Brazil&#8217;s government said on Monday,&nbsp;further expanding the group of major emerging economies that also includes Russia, India, China and South Africa.



Indonesia&#8217;s foreign ministry said in a statement on Tuesday that it welcomed the announcement and that &#8220;BRICS membership is a strategic way to increase collaboration and partnership with other developing nations.&#8221;



Indonesia, the world&#8217;s fourth most populous nation, had previously expressed its desire to join the group as a means of strengthening emerging countries and furthering the interests of the so-called Global South.



Brazil, which holds the bloc&#8217;s presidency in 2025, said in a statement that member states approved Indonesia&#8217;s entry by consensus as part of an expansion push initially endorsed at the 2023 BRICS summit in Johannesburg.



The South American nation noted that Jakarta&#8217;s bid got the green light from the bloc in 2023 but the Southeast Asian country asked to join following the presidential election held last year. President Prabowo Subianto took office in October.



&#8220;Indonesia shares with the other members of the group support for the reform of global governance institutions, and contributes positively to the deepening of cooperation in the Global South,&#8221; the Brazilian government said.



The BRICS group also includes Egypt, Ethiopia, Iran and the United Arab Emirates.



(Reporting by Gabriel Araujo and Stanley Widianto in Jakarta; Editing by Kylie Madry and Saad Sayeed)

ORFYTKEYH5LPDNKGB5ILWDBQIU

Indonesia joins BRICS bloc as full member, Brazil says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="397" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/KE6WLMXLLRKUPODPWLRXZ6RVSI.avif" alt="" class="wp-image-573024"/><figcaption class="wp-element-caption">A motorist drives on the controlled section during the construction of the Nairobi Expressway, undertaken by the China Road and Bridge Corporation (CRBC) on a public-private partnership (PPP) basis, along Uhuru highway in Nairobi, Kenya August 5, 2021. REUTERS/Thomas Mukoya/File photo</figcaption></figure>



NAIROBI, Jan 7 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s economic growth slowed in the third quarter of 2024 from the same period a year earlier due to underperformance in most sectors of the economy, the statistics office said on Tuesday.



The economy&nbsp;KEGDPQ=ECI&nbsp;grew 4.0% year-on-year from 6.0% in the same quarter the previous year, the Kenya National Bureau of Statistics said in a statement.



&#8220;The decelerated growth was largely due to a general decline in growth in most sectors of the economy. The growth was constrained by contractions in construction and mining and quarrying activities,&#8221; the statistics office said.



Construction activities contracted 2.0% while mining and



quarrying shrank 11.1%, the office said.



Growth in agriculture, forestry and fishing, transportation and storage activities, financial and insurance activities, real estate activities, wholesale and retail activities and accommodation and food service activities helped cushion the economy from slowing further, the statistics office said.



Nationwide protests against proposed tax increases at the end of the second quarter resulted in disruptions and incidents of violence in major towns.



President William Ruto subsequently scrapped the tax measures, but demonstrations persisted into the third quarter, with protesters calling for better governance, an end to corruption and better service delivery.



The World Bank has downgraded Kenya&#8217;s economic growth estimate for 2024 to 4.7%, from an initial 5.0%, citing the impact of floods, anti-government protests and faltering fiscal consolidation efforts.



The finance ministry has estimated that the economy expanded 5.2% in 2024 and projects growth of 5.4% in 2025. The economy grew 5.6% in 2023.



(Reporting by George Obulutsa and Hereward Holland; Editing by Ed Osmond and Jacqueline Wong)

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Kenya’s Q3 GDP growth slows on weak construction, mining sectors

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118-820x462.jpeg" alt="" class="wp-image-452310" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118-820x462.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/107308670-1695930955313-gettyimages-1478432952-118.jpeg 929w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Gold purchases from central banks led to last year’s surge, with purchases exceeding 1,000 tons for two consecutive years.
Traffic_analyzer | Istock | Getty Images</figcaption></figure>



Commodity prices are largely expected to fall in 2025 due to a sluggish global economic outlook and a resurgent dollar, but gold and gas prices are poised to rally this year, according to industry experts.



Commodities had a mixed 2024: While investors flocked to gold to hedge against inflation, commodities such as iron ore fell as the world’s largest consumer of metals, China, struggled with tepid growth. The story this year is likely to be the same.



“Commodities in general will be under pressure across the board in 2025,” said research firm BMI’s head of commodities analysis Sabrin Chowdhury, adding that the strength of the U.S. dollar will cap demand for commodities priced in the greenback.&nbsp;



Market participants will be keeping an eye on further China stimulus in hopes that it may fuel a recovery in commodities demand in the world’s second-largest economy.&nbsp;



<h2 class="wp-block-heading" id="h-oil-prices-to-slip"><a></a>Oil prices to slip</h2>



Crude oil prices last year were dragged down by weak Chinese demand and a supply glut, and market watchers expect prices to remain pressured in 2025.



The International Energy Agency in November painted a bearish oil market picture for 2025, forecasting global oil demand to grow under a million barrels per day. This compares to a two million barrel per day increase in 2023.



Commonwealth Bank of Australia sees Brent oil prices falling to $70 per barrel this year on expectations increased oil supply from non‑OPEC+ countries that’ll eclipse the rise in global oil consumption.



BMI said in its December note that the first half of 2025 was likely to see a supply glut as substantial new production from U.S., Canada, Guyana and Brazil comes online.&nbsp;Also, if OPEC+ plans to roll back voluntary cuts materialize, the oversupply will further pressure prices.



BMI noted that the demand picture in 2025 was not clear yet. “Global oil and gas demand remains uncertain, with stable economic growth and rising fuel demand offset by trade war impacts, inflation and contracting demand in developed markets.”



Global crude benchmark Brent was last trading at $76.34 per barrel, around the same levels as it was a year ago in early January.



<h3 class="wp-block-heading">Gas set to rise</h3>



Global natural gas prices have rallied since mid-December 2024, driven by cold weather and geopolitics, Citi analysts said.



Ukraine’s recent halt of Russian gas flow to several European nations on New Year’s Day has introduced greater uncertainty to the global gas markets. As long as the cutoff remains in place, gas prices are likely to remain elevated.



Colder weather for the rest of winter in the U.S. and Asia could also keep prices elevated, said Citi.



BMI forecasts gas prices to rise by about 40% in 2025 to $3.4 per million British thermal units (MMbtu) compared to an average of $2.4 per MMbtu in 2024, driven by growing demand from the LNG sector and higher net pipeline exports.&nbsp;



U.S. Henry Hub natural gas prices, which was the gauge that BMI referred to, are currently trading at $2.95 per MMbtu.



“LNG will continue to drive new consumption, supported by rising export capacity and strong demand in Europe and Asia,” BMI analysts wrote.&nbsp;



<h3 class="wp-block-heading">Gold may add sheen</h3>



Gold prices notched a slew of all-time highs last year, and the run of fresh records could extend in 2025.



“Investors are optimistic about gold and silver for 2025 because they are so pessimistic on geopolitics and government debt,” said Adrian Ash, director of research at BullionVault, a gold investment services firm, emphasizing on the yellow metal’s role as a hedge against risk.&nbsp;



JPMorgan analysts also expect gold prices to rise, especially if U.S. policies become “more disruptive” in the form of increased tariffs, elevated trade tensions and higher risks to economic growth.&nbsp;&nbsp;



Gold notched its best annual performance in over a decade last year. Bullion prices rose about 26% in 2024, data from FactSet showed, driven by central bank as well as retail investor purchases.



BullionVault and JPMorgan expect gold prices to go up to $3,000 per ounce in 2025.



<h3 class="wp-block-heading">Silver and platinum likely to advance</h3>



Gold’s poorer cousin, silver, could also see prices rise, especially as demand for solar power — silver is used in building solar panels — remains resilient and the metal’s supply stays limited.



“Both silver and platinum have strong underlying deficit fundamentals, and we think a catch up trade later in 2025, once base metals find firmer footing, could be quite potent,”&nbsp;JPMorgan analysts noted.&nbsp;



Silver is primarily utilized in industrial applications and is frequently incorporated in the production of automobiles, solar panels, jewelry and electronics. It is also needed in building artificial intelligence products and has military applications as well, said CIO of Swiss Asia Capital’s CIO Juerg Kiener.



That said, silver’s upside will be dependent on global industrial demand which will be impacted by Trump’s tariffs, precious metals trading services group MKS Pamp wrote in an outlook report.



<h3 class="wp-block-heading">Copper faces demand worries</h3>



Prices of copper, which is key to the manufacturing of electric vehicles and power grids, may see a dent after shooting to a record high this year on the back of a global energy transition.



“A potential deceleration in energy transition amid Trump’s policy shifts might dampen, to some extent, the ‘green sentiment’ that bolstered prices in 2024,” BMI wrote in a note.



While copper prices rose to a record high in May 2024 largely as a result of a squeezed market, they trended lower for the rest of the year, and will continue to do so, John Gross, president at the eponymous metals management consultancy John Gross and Company, told CNBC.



A cocktail mix of high inflation, elevated interest rates and a stronger dollar will weigh on all metals markets, the metals market veteran said.



<h3 class="wp-block-heading">Iron ore forecast to drop</h3>



Iron ore prices may also slide on the back of an oversupply resulting from Chinese policies and geopolitics.&nbsp;



“The expected U.S. tariffs on China, changing nature of Chinese stimulus and new low-cost supply [will] push the market into further surplus,” Goldman Sachs said, forecasting prices to decline to $95 per ton in 2025.



This despite China likely to import record amount of iron ore this year, according to Reuters. Iron ore prices fell over 24%, according to data from FactSet.



<h3 class="wp-block-heading">Cocoa and coffee</h3>



Cocoa and coffee prices stand out amongst the soft commodities basket, having scaled record highs in 2024 fueled by adverse weather conditions and supply tightness in key producing regions. But demand may taper in 2025.



“Given that these commodities are trading at levels well above cost of production, we expect production to expand and demand to contract in the coming year,” Rabobank researchers said.

107308670-1695930955313-gettyimages-1478432952-118

Several commodities face headwinds in 2025 — but this metal’s record rally is set to continue

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="2986" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/FFF7V4LQRJNTLLSYNGSJLO2CEU.avif" alt="" class="wp-image-572748"/><figcaption class="wp-element-caption">An employee sorts out clothing at a retail store in Sandton, near Johannesburg, South Africa, October 15, 2024. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Jan 6 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s private sector activity contracted in December for the first time since August, as muted demand and rising inflationary pressures weighed on growth, a survey showed on Monday.



The S&amp;P Global South Africa Purchasing Managers&#8217; Index (PMI) fell to 49.9 in December from 50.9 in November, slipping below the 50.0 threshold that separates growth from contraction.



New orders stalled, ending a four-month growth streak, as subdued market conditions and a further decline in export business dampened sales.



&#8220;December&#8217;s PMI data suggest that the South African economy may have lost a little bit of steam at the end of 2024,&#8221; said David Owen, senior economist at S&amp;P Global Market Intelligence.



He highlighted a &#8220;more muted demand environment&#8221; and &#8220;accelerated cost pressures&#8221; as key challenges.



Inflationary pressures intensified, with input costs rising at the fastest rate in four months, driven by higher wages and increased material and transport prices. However, the rate of inflation remained below long-term trends.



Despite the downturn, supply chain pressures eased, encouraging firms to increase input purchases for the third consecutive month.



Employment remained stable, following a slight increase in November, while output and sales contracted across most sectors, particularly in construction. The services sector, however, showed a slight uptick in new work.



Overall, the PMI&#8217;s fourth quarter average of 50.5 was the strongest since third quarter in 2022, providing some optimism for gross domestic product growth recovery after a contraction last quarter.



(Reporting by Johannesburg bureau; Editing by Hugh Lawson)

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South African business activity slips into contraction in December, PMI shows

<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/HN5HXC2VO5KTJGF2LIADJSUSWE.avif" alt="" class="wp-image-572708"/><figcaption class="wp-element-caption">Foreign Minister of the People&#8217;s Republic of China Wang Yi addresses the &#8220;Summit of the Future&#8221; in the General Assembly hall at United Nations headquarters in New York City, U.S., September 23, 2024. REUTERS/David Dee Delgado/File Photo</figcaption></figure>



BEIJING, Jan 6 (Reuters)&nbsp;&#8211;&nbsp;China&#8217;s top diplomat began his annual New Year tour of Africa on Sunday, maintaining a 35-year-long tradition, to quietly advance Beijing&#8217;s already sizeable influence across the resource-rich continent as Europe&#8217;s presence wanes and America&#8217;s wavers.



While global capitals and investors brace for the return of U.S. President-elect Donald Trump to the White House, and wars in Ukraine and the Middle East and domestic politics keep German and French ministers occupied, Foreign Minister Wang Yi being in Namibia, the Republic of Congo, Chad and Nigeria highlights the consistency of China&#8217;s engagement with Africa, analysts say.



Wang&#8217;s visit through to Saturday also comes as the world&#8217;s No.2 economy ramps up its financial support for the debt-laden continent and looks to strike more critical minerals deals and find markets to absorb its exports.



&#8220;The decision on which countries to go to each year rarely follows any external logic,&#8221; said Eric Orlander, co-founder of the China-Global South Project. &#8220;(But) it resonates in Africa as a reminder of China&#8217;s consistent commitment to the continent, in contrast to the approaches of the U.S., United Kingdom and European Union.&#8221;



Mao Ning, Chinese foreign ministry spokesperson, announced the visit at a news conference on Friday, saying it aimed to deepen practical cooperation across the board for sustained and substantive growth of China-Africa relations.



As China&#8217;s economy slows, Africa offers a much-needed avenue for its state-owned infrastructure firms struggling for projects as indebted local governments hold off on spending, and a market for its electric vehicles and solar panels, areas where the U.S. and EU say it has over-capacity.



Africa&#8217;s 50-plus votes at the United Nations could also help advance Beijing&#8217;s efforts to reshape multilateral institutions and reinterpret global norms so that they are more in line with its interests, particularly on issues such as human rights.



While current U.S. President Joe Biden&#8217;s December trip to Angola was his only visit to sub-Saharan Africa in his presidency, China puts Africa at the front of its diplomatic calendar.



&#8220;China has become central to Africa&#8217;s policy, as an actor and an inspiration,&#8221; said Hannah Ryder, founder of Development Reimagined, an African-owned consultancy, referring to how candidates vying to chair the African Union Commission have talked up Beijing&#8217;s ability to improve Africa&#8217;s manufacturing capabilities and China&#8217;s track record in mass education ahead of February&#8217;s election. The commission is the secretariat of the 55-nation African Union.



<h2 class="wp-block-heading" id="h-security-issues">SECURITY ISSUES</h2>



Wang&#8217;s decision to visit the Republic of Congo, which this year takes over as co-chair of the Forum on China-Africa Cooperation(FOCAC) that sets the agenda for China-Africa relations, also points to China&#8217;s commitment to implementing the outcomes of last year&#8217;s summit, Ryder said, where China pledged $51 billion in fresh financial assistance.



Beijing is also beginning to make its presence felt on pressing regional security issues, analysts say, which partly explains why Wang will travel to Chad.



France last month began the withdrawal of its military from the Central African country, after its government unexpectedly ended a defence cooperation pact that had made it a key Western ally in the fight against Islamic militants in the region.



&#8220;China has been a reliable and stable partner for the new military juntas in the Sahel and West Africa,&#8221; Orland said.



&#8220;For the French and U.S., who see a dilution of Western power in the region, China&#8217;s presence is seen as &#8216;controversial,&#8217; but it&#8217;s a very different view from African perspectives.&#8221;



(Reporting by Joe Cash; Editing by Raju Gopalakrishnan)

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China’s top diplomat heads to Africa as West’s attention dwindles

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3334" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/I7GSHMVDBNLKVBLVYGRHKIEEVI.avif" alt="" class="wp-image-571674"/><figcaption class="wp-element-caption">Nigerian President Bola Tinubu looks on as he meets with South African President Cyril Ramaphosa on the day of the 11th Bi-National Commission between the two countries at Tuynhuys, in Cape Town, South Africa, December 3, 2024.REUTERS/Esa Alexander/File Photo</figcaption></figure>



LAGOS, (Reuters) &#8211; Nigeria will establish a national credit guarantee company in May to lend to businesses and individuals, President Bola Tinubu said in an speech on Wednesday.



Tinubu, who took office in May 2023, campaigned on economic reforms including expanding credit access to boost economic growth.



&#8220;To achieve this, the federal government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.



Tinubu said the company would partner with government institutions such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated, as well as the private sector and multilateral institutions.



&#8220;This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth. It will drive growth, re-industrialisation, and better living standards for our people,&#8221; Tinubu said.



Eight months ago, Tinubu launched the Nigerian Consumer Credit Corporation, to enhance access to credit to employed Nigerians.



The implementation of the programme was planned in stages, beginning with Federal civil service employees and now the general public.



(Reporting by Isaac Anyaogu; Editing by Kirsten Donovan)

I7GSHMVDBNLKVBLVYGRHKIEEVI

Nigeria to expand credit access to citizens

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3334" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/JKSKPU3LJRIWNCOF4JQUE5QPHE.avif" alt="" class="wp-image-571113"/><figcaption class="wp-element-caption">Labourers harvest cocoa pods at a farm in Assin Foso, Ghana, November 21, 2024. REUTERS/Francis Kokoroko/File Photo</figcaption></figure>



SINGAPORE, Dec 31 (Reuters)&nbsp;&#8211;&nbsp;Cocoa and coffee are poised to close 2024 as the biggest gainers among commodities for a second year on a global supply deficit, while steel-making coal will end as the worst performer, hit by slow growth in China.



Looking ahead, global trade tensions are likely to dominate the commodities landscape in 2025 as Donald Trump returns to the White House threatening hefty tariffs, analysts said.



A strong dollar and gold&#8217;s appeal as a safe haven for investors are likely to support precious metals prices, while ample supply could depress oil for a third year, they added.



In bad news for chocolate lovers, cocoa nearly tripled in price over 2024, far outpacing gains in other commodities. It hit a record high of $12,931 a metric ton in New York earlier this month on forecasts of lower supply for a fourth successive season in West Africa following dry weather.



&#8220;The softs sector, led by cocoa and coffee, has been the main winner amid adverse weather in key growing regions, highlighting the risk to prices when products like these are produced and sourced from relatively small geographical areas,&#8221; said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.



Top cocoa producers Ivory Coast and Ghana have suffered crop losses due to adverse weather, bean disease, smuggling and reduced plantations in favour of illegal gold mining.



Dryness has strained coffee supplies as well. ICE Arabica coffee prices soared to their highest in more than 40 years amid fears that severe drought earlier this year damaged the upcoming crop in top producer Brazil.



<h2 class="wp-block-heading" id="h-china-growth-worries-hit-oil-iron-ore">CHINA GROWTH WORRIES HIT OIL, IRON ORE</h2>



Crude oil and bulk metals faced headwinds in 2024 as China, the world&#8217;s second-biggest economy and top commodities buyer, struggled mainly due to a property crisis.



Brent and West Texas Intermediate crude could post a third consecutive annual decline in 2025 as supply outstrips a rebound in demand growth, analysts said, although Trump&#8217;s policies on major producers Russia and Iran could curb supply.



Spare capacity in the Organization of the Petroleum Exporting Countries (OPEC) reached an unprecedented 5 million barrels per day (bpd), analysts estimated, with the group having extended production cuts to March.



&#8220;The bleak inventory path next year suggests that OPEC+ will be challenged to bring back barrels into the market,&#8221; Harry Tchilinguirian, head of research at Onyx Capital Group, said in a note.



Iron ore prices in China recouped some losses in recent months but are still headed for a 15% decline in 2024. Prices could fall again next year as iron ore supply grows and Chinese steel demand falls, analysts said, despite Beijing&#8217;s stimulus measures.



&#8220;We expect the increase in iron ore supply from major miners will be higher than that in 2024, but steel output in China will likely slide,&#8221; Pei Hao, senior analyst at brokerage Freight Investor Services, said, forecasting an average price of $100 a ton in 2025, down from an average of $110 in 2024.



Gold and silver rose more than 25% in 2024 and could climb further in the year ahead depending on the U.S. Federal Reserve&#8217;s interest rate cuts and Trump&#8217;s tariff, tax and foreign policies, analysts said.



&#8220;Gold is the standout for us in 2025,&#8221; ING&#8217;s head of commodity research Warren Patterson said, adding that strong gold purchases by central banks will support demand.



Copper and aluminium prices are set to end 2024 higher, driven by tight supplies, the energy transition and hopes that China&#8217;s stimulus measures will boost demand.



<h2 class="wp-block-heading" id="h-palm-oil-rubber-and-grains">PALM OIL, RUBBER AND GRAINS</h2>



For agricultural products, Malaysian palm oil futures&nbsp;FCPOc3&nbsp;jumped around 20% in 2024, snapping two consecutive years of losses, lifted by Indonesia&#8217;s biodiesel mandate and adverse weather in Indonesia and Malaysia.



Crop-threatening weather also drove a 42% gain in Tokyo rubber futures&nbsp;JRUc6.



In contrast, soybeans Sv1, corn Cv1 and wheat Wv1 were in plentiful supply, all on track for losses in 2024. However, wheat prices could find some support in 2025 as warmer weather in Russia, the biggest exporter, threatens to reduce output.



Top soybean exporter Brazil is poised to deliver record supplies in 2025, positioning it to meet a rise in Chinese demand if a Washington-Beijing trade war erupts.



(Reporting by Naveen Thukral, Florence Tan and Gabrielle Ng in Singapore; Additional reporting by Amy Lv in Beijing, Violet Li in Shanghai, Ashitha Shivaprasad and Sherin Elizabeth Varghese in Bengaluru and Ashley Tang in Kuala Lumpur; Editing by Sonali Paul)

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Cocoa tops global commodities rally for 2nd year, steel ingredients struggle on China demand

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2186808593-820x547.jpg" alt="" class="wp-image-569805" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2186808593-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2186808593-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2186808593-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2186808593-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2186808593-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2186808593-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Military police patrol the streets following protests in Maputo, Mozambique, on Thursday, Nov. 28, 2024. The continued disruption following election results disputes is hitting the already strained state finances with annual inflation in Mozambique edged up to 2.7% in October. Photographer: Kang-Chun Cheng/Bloomberg via Getty Images</figcaption></figure>



CAPE TOWN, Dec 26 (Reuters) &#8211; South African petrochemical company Sasol has reduced natural gas production at its central processing facility in Temane, Mozambique, to ensure the safety of its staff and assets amid widespread post-election unrest, its spokesperson said.



South Africa receives the bulk of its gas imports via the Rompco pipeline that links onshore gas fields in Mozambique to Sasol&#8217;s Secunda industrial complex in Mpumalanga province, before being piped onwards to clients in Gauteng and KwaZulu-Natal regions.



&#8220;We have informed various gas users and our customers that we are not able to supply gas at full production rates to maintain stability of the gas value chain infrastructure and pipeline network,&#8221; Alex Anderson, a Sasol spokesperson said late on Wednesday.



Mozambique has been wracked by unrest following a disputed election in October that saw ruling party candidate Daniel Chapo elected as president.



The unrest has already affected the operations of foreign companies including the Australian mining firm South32 and led to the temporary closure of the main border crossing with neighbouring South Africa.



Civil unrest escalated when the Constitutional Council on Monday confirmed long-ruling party Frelimo&#8217;s victory.



On Tuesday, at least 21 people were killed in the unrest which on Wednesday spread to some prisons and saw 33 people killed.



Western observers said the election was not free and fair, saying there were irregularities in the tabulation process and a lack of transparency in the election period.



&#8220;The situation around the central processing facility is calm and there has been no security or perimeter breach,&#8221; Anderson said, adding that the safety of staff, service providers and communities was their main priority.



(Reporting by Wendell Roelf; Editing by Olivia Kumwenda-Mtambo, Alexandra Hudson)

Mozambique Sees Renewed Election Unrest Raising Inflationary Risks

Sasol reduces gas output at Mozambique plant due to unrest

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108079628-1735035892853-gettyimages-1236187189-LEBANON_GHOSN-820x461.jpeg" alt="" class="wp-image-569560" style="width:840px;height:auto" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108079628-1735035892853-gettyimages-1236187189-LEBANON_GHOSN-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108079628-1735035892853-gettyimages-1236187189-LEBANON_GHOSN-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108079628-1735035892853-gettyimages-1236187189-LEBANON_GHOSN-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108079628-1735035892853-gettyimages-1236187189-LEBANON_GHOSN-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108079628-1735035892853-gettyimages-1236187189-LEBANON_GHOSN-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108079628-1735035892853-gettyimages-1236187189-LEBANON_GHOSN.jpeg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



Nissan will be the victim of cost-cutting “carnage” if it combines forces with Japanese peer Honda, former Nissan CEO Carlos Ghosn told CNBC on Tuesday.



“I think, without any doubt, Honda is going to be in the driver’s seat, which is very sad to see after having led Nissan for 19 years [and] brought Nissan to the forefront of the industry, to see that they’re going to be the victim of a carnage, because there is total duplication between Nissan and Honda,” he told CNBC’s “Squawk Box Europe.”



Ghosn, who once led three automakers as part of the Nissan-Renault-Mitsubishi alliance, has been residing in Lebanon after being arrested in Japan in November 2018 and fleeing trial on charges of financial crimes. He denies misconduct.



“There is practically no complementarity here, which means, if they want to make synergy it is going to be through maybe cost reduction, duplication of plan, duplication of technology, and we know exactly who’s going to pay the price of it. It’s going to be the minor partner, and it’s going to be Nissan,” Ghosn said.



Nissan had greater complementarities with France’s Renault, Ghosn estimated, referencing a long-standing partnership that has been largely unwound.



Speculation about a potential Honda and Nissan merger began earlier this month, and the two companies confirmed the official start of talks over a business integration during a news conference on Monday. Under current proposals, a holding company would act as the parent of both firms and be listed on the Tokyo Stock Exchange, with Honda — which has a market capitalization around four times that of Nissan — nominating most board members of the new entity. Nissan’s strategic partner Mitsubishi is also engaged in talks over joining the group.



A $54 billion Nissan-Honda group would leapfrog South Korea’s Hyundai to become the world’s third-largest automaker by vehicle sales, behind Japan’s Toyota and Germany’s Volkswagen. The integrated group would also represent a landmark in automotive industry consolidation, which has been long expected in both Japan and worldwide as businesses struggle to shoulder the development costs of electric vehicles and autonomous driving technology.



Executives at both Honda and Nissan on Monday stressed that a combined company would be able to share the intelligence and resources necessary to compete in the EV transition and deliver economies of scale, boosting operating profit to a projected 3 trillion yen ($19.1 billion) in the long term.



Nissan is embarking on the ambitious merger while simultaneously undertaking a deep restructure it announced in November, which will reduce global production capacity by a fifth and cut 9,000 jobs.



Honda CEO Toshihiro Mibe on Monday acknowledged that some shareholders may feel his company would be supporting struggling Nissan as part of the deal, but stressed that the business integration talks will “not come to fruition” if the two automakers fail to stand on their own.



Ghosn nevertheless told CNBC that the merger plan suggests “Nissan is in panic mode, looking for somebody to save them from the situation, because they are unable to generate the solution by themselves.”



He expressed “high doubts” that the turnaround at Nissan will be successful, without providing details.



Kei Okamura, senior vice president and portfolio manager at Neuberger Berman, echoed the sentiment that details of the merger plan still need to be ironed out.



“If you’re an investor you’re going to be thinking about the three to five earnings outlook. What was announced [Monday] was the near term, so the timeline, and the long-term vision. The only issue is how is this merged entity going to get there, and that’s where there are a lot of uncertainties ahead,” Okamura told CNBC’s “Street Signs Asia” on Tuesday.



“The post-merger integration is going to be absolutely essential &#8230; unless these companies are able to really full integrate themselves together in terms of the people, the assets and of course the culture, these deals have the potential to unwind, and we have to take into consideration that this deal may not happen if [Nissan] doesn’t come through with its turnaround program,” Okamura added.



Nissan declined to comment on this story beyond its statement out on Monday. Honda did not immediately respond to a CNBC request for comment.

108079628-1735035892853-gettyimages-1236187189-LEBANON_GHOSN

Nissan could face cost-cutting ‘carnage’ in Honda merger, Carlos Ghosn says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="473" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/QPQQ77FJE5JRTNVTB23SO7K7RM.avif" alt="" class="wp-image-568246"/><figcaption class="wp-element-caption">A view shows Nigeria&#8217;s Central Bank headquarters in Abuja, Nigeria November 22, 2020. Picture taken November 22, 2020. REUTERS/Afolabi Sotunde//File Photo</figcaption></figure>



ABUJA, Dec 20 (Reuters)&nbsp;&#8211;&nbsp;The Central Bank of Nigeria (CBN) has granted the country&#8217;s Bureau de Change (BDC)&nbsp;operators temporary access to the official foreign exchange market from December 19 to January 30, 2025, it said in a statement on Thursday.



Operators will be allowed to purchase a maximum of $25,000 weekly from authorised dealers. All transactions require upfront funding at prevailing rates and must adhere to a maximum spread of 1%, the CBN said.



Nigeria&#8217;s central bank typically sells foreign exchange directly to BDCs at a subsidised rate. The bank&#8217;s statement did not explain the reasoning behind the move, which would give the BDCs access to a new automated FX trading system launched this month to replace a decade-old over-the-counter system.



(Reporting by Elisha Bala-Gbogbo; Editing by Peter Graff)

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Nigeria central bank grants exchange bureaus temporary access to FX spot market

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg" alt="" class="wp-image-568119" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, File. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, Dec 20 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.



ECONOMIC EVENTS



Energy regulator Nersa meeting on Eskom&#8217;s tariff application



SOUTH AFRICAN MARKETS



South Africa&#8217;s rand slipped on Thursday, a day after the Federal Reserve struck a hawkish tone on interest rate cuts in the coming year.&nbsp;.JZAR/



GLOBAL MARKETS



Asian shares hit a fresh three-month low on Friday as investors awaited key U.S. inflation data that could either ease or worsen concerns about stubbornly high price pressures, while the dollar towered at two-year peaks.&nbsp;MKTS/GLOB



WALL STREET



U.S. stocks ended little changed on Thursday, giving up an initial rebound from a sharp drop in the prior session after the Federal Reserve forecast fewer-than-expected interest rate cuts and higher inflation next year.&nbsp;.N



GOLD



Gold prices were set for a weekly decline on Friday after the Federal Reserve&#8217;s verdict on its monetary policy-easing cycle signalled a slowdown in rate cuts, while focus shifted to U.S. Personal Consumption Expenditure data later in the day.&nbsp;GOL/



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



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



BUSINESS DAY



&#8211; Treasury makes proposals to tighten laws in bid to exit greylist



&#8211; Grindrod hit hard by disruption after Mozambican election



FIN 24



&#8211; As power theft cripples Eskom, it discovers a massive racket involving its staff



(Compiled by Alexander Winning)

rand2 (1)

South African Markets – Factors to watch on Dec 20

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-820x546.jpg" alt="" class="wp-image-412999" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-768x511.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-1536x1022.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-462743612-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A general view of the headquarter of the embattled South African main electricity provider ESKOM is pictured on February 4, 2015 in Johannesburg. South Africa power supply was under &#8220;extreme&#8221; pressure on February 2, 2015 and likely to remain so until end of the week after a technical fault at the country&#8217;s sole nuclear plant, electricity utility Eskom said. AFP PHOTO/GIANLUIGI GUERCIA (Photo by Gianluigi GUERCIA / AFP) (Photo by GIANLUIGI GUERCIA/AFP via Getty Images)</figcaption></figure>



JOHANNESBURG, Dec 19 (Reuters)&nbsp;&#8211;&nbsp;South African state power utility Eskom on Thursday reported a higher loss after tax of 55 billion rand ($3 billion) in the financial year to the end of March because of an accounting adjustment linked to the separation of its transmission unit.



The loss after tax was up from 26.1 billion rand in the year to the end of March 2023.



Revenue in the year to end-March 2024 grew 14% to 295.8 billion rand, a presentation on the company&#8217;s website showed. Sales volumes dipped 3% to 183.3 Terawatt hours, as the company implemented power cuts on 329 days during the reporting year.



($1 = 18.2461 rand)



(Reporting by Nqobile Dludla and Bhargav Acharya; Editing by Alexander Winning)

SAFRICA-ELECTRICITY-NUCLEAR-ECONOMY-ENERGY

South Africa’s Eskom reports $3 bln loss on split of transmission unit

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4653" height="3100" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/AD5EWZPFCVLJ3MS7VAUAZFF3SA.avif" alt="" class="wp-image-567761"/><figcaption class="wp-element-caption">A sign adorns the building where Australian miner South32 has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File Photo</figcaption></figure>



Dec 19 (Reuters) &#8211; Australian miner South32 said on Thursday it expects to rebuild alumina stocks in the coming days if trucking conditions remain favourable at the Mozal Aluminium smelter in Mozambique after operational disruptions at the site due to post-election civil unrest.



Earlier this month, the company retracted its output prediction for its Mozal Aluminium smelter in Mozambique, following protests by opposition supporters after a disputed election result in October, which led to increasing violence in the country.



According to South32, which owns 63.7% of the Mozal Aluminium smelter, the disturbances caused road closures that have made it more difficult to get raw materials to the smelter.



&#8220;Over the past few days, road blockages have largely cleared and we have been able to safely transport alumina from port to Mozal Aluminium,&#8221; South32 said.



The company adds that while the situation in Mozambique has improved, any escalation in civil unrest, which is likely after the election results by the Mozambique Constitutional Council on Dec. 23, can potentially impact trucking activity and operations at Mozal.



(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Alan Barona)

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South32 expects to start rebuilding at Mozambique project after post-election hit

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1920" height="1005" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/NXWKCDUVZNLTBAFY4YNDDH4KKA.avif" alt="" class="wp-image-567479"/><figcaption class="wp-element-caption">A woman receives a bag of food from the government during the distribution of food items by the government to cushion the high cost of living in Abuja, Nigeria, September 20, 2022. REUTERS/Afolabi Sotunde/File Photo</figcaption></figure>



ABUJA, Dec 18 (Reuters)&nbsp;&#8211;&nbsp;Nigeria&#8217;s inflation is expected to fall sharply to around 15% next year from 34.6% in November, helped by lower imports of petroleum products, President Bola Tinubu said on Wednesday.



In his second budget speech since being elected, Tinubu said spending priorities in 2025 would include security, infrastructure and measures to ease a cost-of-living crisis.



He said the 2025 spending plan of 47.90 trillion naira included&nbsp;a budget deficit of 3.89% of gross domestic product, approximately 13.0 trillion naira.



&#8220;The reforms we have instituted are beginning to yield results, no reversals,&#8221; Tinubu said in a televised speech.



Inflation quickened sharply in the second half of last year after Tinubu devalued the naira currency and cut subsidies on petrol to try to lift economic growth and shore up public finances.



These actions intensified the most severe cost-of-living crisis in decades in Africa&#8217;s most populous country.



To combat rising inflation, the central bank has raised interest rates six times this year, totalling an increase of 875 basis points.



Tinubu said foreign exchange reserves stood at around $42 billion against a healthy trade surplus, but that 15.18 trillion naira would be needed in 2025 for debt service.



(Reporting by Camillus Eboh; Writing by Chijioke Ohuocha; Editing by Christina Fincher and Alex Richardson)

NXWKCDUVZNLTBAFY4YNDDH4KKA

Nigeria inflation to fall to 15% next year, president says in budget speech

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/NIGERIA-INFLATION.avif" alt="" class="wp-image-567461"/><figcaption class="wp-element-caption">A woman stands near the bread stand at Cherries Hypermarket in Abuja, Nigeria March 15, 2022. REUTERS/Afolabi Sotunde/File Photo</figcaption></figure>



ABUJA, Dec 18 (Reuters)&nbsp;&#8211;&nbsp;Nigeria&#8217;s inflation is expected to fall sharply to around 15% next year from 34.6% in November, helped by lower imports of petroleum products, President Bola Tinubu said on Wednesday.



In his second budget speech since being elected, Tinubu said spending priorities in 2025 would include security, infrastructure and measures to ease a cost-of-living crisis.



He said the 2025 spending plan of 47.90 trillion naira included&nbsp;a budget deficit of 3.89% of gross domestic product, approximately 13.0 trillion naira.



&#8220;The reforms we have instituted are beginning to yield results, no reversals,&#8221; Tinubu said in a televised speech.



Inflation quickened sharply in the second half of last year after Tinubu devalued the naira currency&nbsp;NGN=D1&nbsp;and cut subsidies on petrol to try to lift economic growth and shore up public finances.



These actions intensified the most severe cost-of-living crisis in decades in Africa&#8217;s most populous country.



To combat rising inflation, the central bank has raised interest rates six times this year, totalling an increase of 875 basis points.



Tinubu said foreign exchange reserves stood at around $42 billion against a healthy trade surplus, but that 15.18 trillion naira would be needed in 2025 for debt service.



(Reporting by Camillus Eboh; Writing by Chijioke Ohuocha; Editing by Christina Fincher and Alex Richardson)

NIGERIA INFLATION

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



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



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



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



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



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



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



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



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



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



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



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

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

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



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



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



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



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



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



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



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



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

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Nigeria central bank grants exchange bureaus temporary access to FX spot market

South African Markets – Factors to watch on Dec 20

South Africa’s Eskom reports $3 bln loss on split of transmission unit

South32 expects to start rebuilding at Mozambique project after post-election hit

Nigeria inflation to fall to 15% next year, president says in budget speech

Nigeria inflation to fall to 15% next year, president says in budget speech

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

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

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featured

Indonesia joins BRICS bloc as full member, Brazil says

Kenya’s Q3 GDP growth slows on weak construction, mining sectors

Several commodities face headwinds in 2025 — but this metal’s record rally is set to continue

South African business activity slips into contraction in December, PMI shows

China’s top diplomat heads to Africa as West’s attention dwindles

Nigeria to expand credit access to citizens

Cocoa tops global commodities rally for 2nd year, steel ingredients struggle on China demand

Sasol reduces gas output at Mozambique plant due to unrest

Nissan could face cost-cutting ‘carnage’ in Honda merger, Carlos Ghosn says

Nigeria central bank grants exchange bureaus temporary access to FX spot market

South African Markets – Factors to watch on Dec 20

South Africa’s Eskom reports $3 bln loss on split of transmission unit

South32 expects to start rebuilding at Mozambique project after post-election hit

Nigeria inflation to fall to 15% next year, president says in budget speech

Nigeria inflation to fall to 15% next year, president says in budget speech

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

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

News Tips

Advertise With Us

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