<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-154793099-820x547.jpg" alt="" class="wp-image-408693" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-154793099-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-154793099-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-154793099-120x80.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-154793099-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-154793099-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-154793099-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A sign stands at the entrance to the offices of Anglo American Plc in the Marshalltown district of Johannesburg, South Africa, on Friday, Oct. 26, 2012. Anglo American Plc Chief Executive Officer Cynthia Carroll , the first woman, external hire and non-South African to hold the job, will quit after Anglo lost $14 billion in value in the more than five years she was in charge. Photographer: Chris Ratcliffe/Bloomberg via Getty Images</figcaption></figure>



March 20 (Reuters) &#8211; Anglo American Platinum (Amplats) has proposed to change its name to Valterra Platinum ahead of its planned spin-off into a standalone unit, the company said on Thursday.



The world&#8217;s top producer of platinum group metals (PGM) by volume expects to be hived off parent company Anglo American Plc by June as the global mining giant narrows its focus to energy transition metal copper and iron ore.



Amplats&#8217; proposed new name would be put up to a shareholder vote at its annual general meeting on May 8, the company said in a statement.



The company will retain its primary listing in Johannesburg, with a secondary listing on the London Stock Exchange.



(Reporting by Nelson Banya; Editing by Alex Richardson)

Anglo American Plc’s South African Headquarters As CEO Cynthia Carroll Quits

Anglo American Platinum proposes name change to Valterra ahead of spin-off

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/1-952daa05-1-820x547.jpg" alt="" class="wp-image-599625" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/1-952daa05-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/1-952daa05-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/1-952daa05-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/1-952daa05-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/1-952daa05-1.jpg 1080w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Sudan&#8217;s army soldiers celebrate the army&#8217;s liberation of an oil refinery, in North Bahri, Sudan, January 25, 2025. REUTERS/El Tayeb Siddig</figcaption></figure>



DUBAI, March 20 (Reuters)&nbsp;&#8211;&nbsp;Sudan&#8217;s state TV said on Thursday that the army is close to taking control of the Presidential Palace in Khartoum from the paramilitary Rapid Support Forces, marking a significant shift in the two-year-old conflict that threatens to fracture the country.



Late on Wednesday, heavy clashes erupted near the palace, with explosions heard and airstrikes by the army targeting central Khartoum, witnesses and military sources told Reuters.



After nearly two years of war, the RSF controls most of the west of Sudan and parts of the capital Khartoum, but has been losing ground in central Sudan to the army.



The two military factions staged a coup in 2021, derailing a transition to civilian rule, and warfare broke out in April 2023 after plans for a new transition triggered violent conflict.



The war has led to what the U.N. calls the world&#8217;s largest humanitarian crisis, with both the RSF and the army accused of widespread human rights abuses.



(Reporting by Khalid Abdelaziz; Writing by Jana Choukeir; Editing by Tom Hogue and Michael Perry)

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Sudan TV says army close to taking control of Presidential Palace from paramilitary RSF group

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/107077973-1655689250819-gettyimages-1402870855-vcg111387492036-1-820x461.jpeg" alt="" class="wp-image-544690" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/107077973-1655689250819-gettyimages-1402870855-vcg111387492036-1-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/107077973-1655689250819-gettyimages-1402870855-vcg111387492036-1-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/107077973-1655689250819-gettyimages-1402870855-vcg111387492036-1-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/107077973-1655689250819-gettyimages-1402870855-vcg111387492036-1-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/107077973-1655689250819-gettyimages-1402870855-vcg111387492036-1-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/107077973-1655689250819-gettyimages-1402870855-vcg111387492036-1.jpeg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">China’s central bank supplied 14-day cash to its banking system for the first time in months on Monday and at a lower interest rate, signaling its intent to further ease monetary conditions.
Jiang Qiming | China News Service | Getty Images</figcaption></figure>



China kept its key lending rates unchanged on Thursday, as Beijing juggles propping up growth and stabilizing its currency amid mounting trade frictions.



The People’s Bank of China held the 1-year loan prime rate at 3.1% and the 5-year LPR at 3.6%, where they have been since a quarter-percentage-point cut in October.



The rate decision follows the U.S. Federal Reserve’s move to hold benchmark interest rates. Fed officials, however, indicated likely half a percentage point of rate cuts through 2025.



China’s LPRs — normally charged to banks’ best clients — are calculated monthly based on designated commercial lenders’ proposed rates submitted to the PBOC. The 1-year LPR influences corporate and most household loans in China, while the 5-year LPR serves as a benchmark for mortgage rates.



The PBOC has kept its 7-day rate, the country’s main policy rate, steady at 1.5% since a cut in October, as the central bank defends the yuan that faces downward pressure amid threats of higher tariffs.



“Policymakers recognize the country’s robust growth momentum while remaining cautious due to persistent pressures ahead,” said Bruce Pang, adjunct associate professor at Chinese University of Hong Kong, citing risks from trade tensions, Fed’s steady policy stance, and Chinese banks’ already-thin net interest margins.



China’s economy showed a modest pick up in the first two months of the year, with retail sales growing 4.0% from a year earlier, faster than the 3.7% rise in December. Industrial output also came in higher than expectations, expanding 5.9% on year.



Inflation data, however, underscored the need for more policy support for a sustainable economic recovery. Consumer price inflation in February fell into negative territory for the first time in over a year while producer price deflation persisted.



Beijing has made boosting domestic consumption a top policy priority this year to cushion the impact from an escalating trade war overseas.



“With the stronger call to support consumption, there is a growing chance that China will cut rates in the next meeting or so,” said Gary Ng, senior economist at Natixis. “If retail and home sales do not improve, especially if inflation stays weak, we may see a rate cut as early as April,” he added.



Following the rate announcement, the yuan was little changed, trading at 7.2280 against the greenback while yield on the 10-year government bonds fell more than 2 basis points to 1.932%.



Chinese offshore yuan has regained some ground in recent weeks after hitting a 16-month low in January. It has weakened nearly 1.8% since U.S. President Donald Trump’s election win in November.



<h2 class="wp-block-heading" id="h-easing-ahead"><a></a>Easing ahead</h2>



China’s top officials have pledged to ramp up monetary easing measures this year, including interest rate cuts “at appropriate time,” as Beijing has set an ambitious growth target of “around 5%.”



Goldman Sachs economists in a note earlier this month maintained their forecast for two 20-basis-point cuts in the second and fourth quarter this year. The investment bank also expects two 50-basis-point cuts in the reserve requirement ratio, or RRR, which determines the amount of cash that banks must hold as reserves, in the first and third quarter.



Earlier this month, PBOC Governor Pan Gongsheng reiterated that the bank wanted to maintain currency stability at “a reasonable and balanced level.” Preventing the yuan from weakening too quickly could be seen as a sign of goodwill in the lead up to any negotiation with Trump on a trade deal to put a ceiling on tariffs.



While the cuts are yet to materialize, analysts anticipate any policy measures by the PBOC are likely to hinge on Trump’s trade policy moves.



Trump has slapped new tariffs of 20% on Chinese imports and threatened more as early April. The fresh tariffs are seen straining China’s exports, a lone bright spot in the faltering economy.



Exports growth in the world’s second-largest economy slowed more than expected in January and February, while imports during the two months clocked their sharpest fall since July 2023.

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China’s central bank follows U.S. Fed in keeping rates steady as tariff threats pressure yuan

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="540" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/LICCCZ2WGFMAHKMAXFS2TADMXM.avif" alt="" class="wp-image-599355"/><figcaption class="wp-element-caption">A man walks along a street in the Rwanda&#8217;s capital Kigali, May 11, 2016. REUTERS/Ed Cropley/File Photo</figcaption></figure>



KIGALI, March 19 (Reuters)&nbsp;&#8211;&nbsp;Rwanda&#8217;s economy grew 8.9% in 2024 compared&nbsp;with 8.2%the previous year, the country&#8217;s&nbsp;statistics office said&nbsp;on Wednesday,&nbsp;driven by good harvests, and a robust performance in the industrial and service sectors.



The economy expanded 8% in the fourth quarter of the year, said Ivan Murenzi, director general of the National Institute of Statistics of Rwanda.



Last year the agricultural sector grew 5%, while industry and services each grew 10%, Murenzi told a news conference.



Rwanda&#8217;s central bank kept its key interest rate unchanged at 6.5% RWREPO=ECI in February for the second monetary policy meeting in a row, saying that despite a recent pickup in inflation it expected it to remain within its target band.



(Reporting by Philbert Girinema; Writing by Hereward Holland; Editing by Bate Felix)

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Rwanda’s economy grew 8.9% in 2024, stats office says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="410" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108099964-1739192857747-gettyimages-1499178181-vcg111441609233-820x410.jpeg" alt="" class="wp-image-599301" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108099964-1739192857747-gettyimages-1499178181-vcg111441609233-820x410.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108099964-1739192857747-gettyimages-1499178181-vcg111441609233-300x150.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108099964-1739192857747-gettyimages-1499178181-vcg111441609233-160x80.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108099964-1739192857747-gettyimages-1499178181-vcg111441609233-768x384.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108099964-1739192857747-gettyimages-1499178181-vcg111441609233.jpeg 884w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The Chinese national flag fluttering with the Lujiazui Financial District in the background. Vcg | Visual China Group | Getty Images</figcaption></figure>



A rally in Chinese stocks since the start of the year is prompting investors to predict that mainland shares will outperform their American peers in a sign that attractive valuations are trumping the idea of American exceptionalism.



Last week, the S&amp;P 500 slipped into correction territory for the first time since 2023. In contrast, the MSCI China index has gained 19% since the start of the year, to Mar. 9, according to Goldman Sachs, marking its best start to a year in history.



The contrasting fortunes mark a swift turnaround from just a few months ago when many investors believed the U.S. was uniquely positioned to weather economic and political storms buffeting other countries. Chinese stocks were also languishing due to regulatory worries and concerns over the health of the Chinese economy.



A lot has changed since.



U.S. President Donald Trump’s tariffs policy has fanned speculation of an economic slowdown in the world’s largest economy.



Meanwhile, in China, optimism around the country’s artificial intelligence capabilities has intensified since the introduction of DeepSeek’s R1 model earlier this year.



“The U.S. has had a good period, and that’s coming to an end because Trump’s policies are very anti-economy. China has had a very bad period, but it looks as if it’s starting to recover,” Richard Harris, CEO of Port Shelter Investment Management, told CNBC.



“I call it the great pivot. Obviously, over the last 5 to 7 years, U.S. markets have been dominant. The Magnificent Seven have gone to the moon … [But] it seems difficult to see that there’s much more to go,” Harris said.



The tech-heavy Nasdaq Composite is also in correction territory, dragged by a selloff in Magnificent Seven shares, driven by recession concerns and trade war fears. The Magnificent Seven comprises Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla.



“The U.S. stock market capitalization, relative to world stock market capitalization, made an all-time peak at the end of last year amidst the then prevailing talk of ‘American exceptionalism,’” said Chris Wood, global head of equity strategy at Jefferies Hong Kong Global.



In the same vein, Eastspring Investments’ Asia equity portfolio specialist Ken Wong believes that the American exceptionalism trade ended earlier this year. Expected fiscal tightening and Trump’s tariff war are expected to slow U.S. economic growth to below 2% this year, Wong said, compared to consensus estimates of 2.2%.



The U.S. saw real GDP growth of 2.8% in 2024 compared to 2023. The U.S. debt and deficit situation became more severe during President Donald Trump’s first month in office, and since then, he has prioritized addressing the government’s fiscal issues.



Stagflation is a key risk in the U.S. as the tariff war could depress economic activity to the point of recession while simultaneously increasing inflation, Wong added.



That could mean the slump in U.S. equities may not be done.



“We see the selloff in U.S. equities as having further to go,” Deutsche Bank wrote in a note published over the weekend. “With trade policy uncertainty likely to continue to weigh, at least until April 2, we expect positioning to continue to unwind.”



“A move to the bottom of the positioning band which is where it went to in the last trade war, would take the S&amp;P 500 down to 5,250,” said the bank’s chief strategist Binky Chadha. That will mark a more than 7% slide from Monday’s close of 5,675.12.



On the other hand, China tech shares have been on a tear since DeepSeek’s breakthrough. The Chinese government has also actively signaled its support for its technology sector, with plans to increase funding in the cards. 



The Hang Seng Tech Index, which tracks some of the largest Chinese technology companies listed in Hong Kong, has risen over 30% since the start of the year, according to data from LSEG.



“Investors should be looking to sell rallies in the U.S. and buy corrections in Europe and China where there is the most evidence of improving fundamentals,” Wood told CNBC.



To be sure, the sheer pace of China’s rally could portend a correction soon, according to analysts at Bank of America.



“Performance of&nbsp;the&nbsp;HSCEI/MSCI China in the past 17mths trended closely to the trajectory a decade ago, making us worry that we might be approaching some correction&nbsp;soon,” analysts at the Bank of America wrote in a report published on Monday.



The bank’s analysts believe that there are “fundamental similarities” between the current cycle and 10 years ago in terms of the country’s policy stimulus and reforms, economic re-balancing and technological breakthrough.



<h2 class="wp-block-heading" id="h-attractive-valuations"><a></a>Attractive valuations?</h2>



JPMorgan’s head of Asia Pacific equity research, James Sullivan,&nbsp;said valuations are extremely attractive relative to global counterparts in markets such as China, where investor positioning continues to be extremely low.&nbsp;



The MSCI China Index is currently trading at 13.38 times its projected one-year earnings, according to FactSet. This compares to the S&amp;P 500, which is trading at 20.72 times projected one-year earnings.



“I think China’s market is going to outperform the U.S. markets for the next four years, and I don’t think it has anything to do with Trump. I think it has everything to do with starting valuation,” said&nbsp;Michael Gayed, publisher of The Lead-Lag Report, attributing his bullish stance largely to a “tremendous underinvestment” in China.



“China has been not only from an investment standpoint, dead money, for a very long time, but it’s also become a source of anxiety and risk for financial advisors to even consider taking a contrarian bet for their own clients investing in China funds.”



Aside from cheaper valuations, other factors are also fueling the bullish momentum in Chinese markets. China’s A shares have been quite depressed for some time, while the U.S. has been on a tear for the last six years or so, Harris said.



“Of course, average valuations are going to show a difference like that,” he said.



“I’m not worried so much about valuation. It’s important, but it’s not the 100% factor. What is more important at the moment, is that there’s much more momentum in the Chinese market,” Harris said, adding that China’s government stimulus has trickled into the economy and markets.



In a report released last week, Citi Research upgraded China to overweight, while downgrading U.S. equities to neutral after being overweight since October 2023, expecting more negative data prints from the country’s economy.



However, Citi maintained that its neutral outlook is a three—to six-month view, emphasizing that the U.S. will remain one of the leaders of AI, even if jointly with China.



“In the bigger picture, we doubt that the AI bubble is already fully played out,” the investment bank’s strategists led by Dirk Willer wrote.

108099964-1739192857747-gettyimages-1499178181-vcg111441609233

China markets are set to outperform Wall Street as U.S. exceptionalism comes to a pause

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="522" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/KZ4R5MANMJIQPBC4GDTYRR7RTA-820x522.jpg" alt="" class="wp-image-550420" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/KZ4R5MANMJIQPBC4GDTYRR7RTA-820x522.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/KZ4R5MANMJIQPBC4GDTYRR7RTA-300x191.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/KZ4R5MANMJIQPBC4GDTYRR7RTA-141x90.jpg 141w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/KZ4R5MANMJIQPBC4GDTYRR7RTA-768x489.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/KZ4R5MANMJIQPBC4GDTYRR7RTA-1536x977.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/KZ4R5MANMJIQPBC4GDTYRR7RTA-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A teller is seen at a Pick n Pay store at Maponya mall in Soweto, South Africa, October 20, 2022. REUTERS/Siphiwe Sibeko/File photo</figcaption></figure>



JOHANNESBURG, March 19 (Reuters) &#8211; South Africa&#8217;s inflation rate was steady at 3.2% year on year in February, the statistics agency said on Wednesday, a day before the central bank is expected to pause its rate-cutting cycle.



Economists had forecast annual inflation would pick up slightly to 3.3%, still well below 4.5% &#8211; the level the South African Reserve Bank aims for&nbsp;at the middle of its target range.



Analysts polled by Reuters think a rate pause is likely given risks emanating from U.S. President Donald Trump&#8217;s tariff war and a deadlock in the ruling coalition over the national budget.



But Wednesday&#8217;s lower-than-expected reading means some see the central bank delivering another cut.



&#8220;While the decision will be close, we expect policymakers to proceed with another 25-bp (basis point) cut to the repo rate,&#8221; David Omojomolo, Africa economist at Capital Economics, said.



Shaun Murison, senior market analyst at IG, said he thought the central bank would be reluctant to cut rates again on Thursday given the Federal Reserve is expected to keep rates unchanged on Wednesday.



&#8220;Doing so could introduce additional inflation risks and erode the interest rate differential that helps attract foreign capital,&#8221; he said.



In a Reuters poll published on March 14, 16 out of 22 economists thought the central bank would keep its repo rate at 7.50%, while six predicted a 25-bp reduction.



(Reporting by Bhargav Acharya and Sfundo Parakozov; Editing by Alexander Winning and Andrew Heavens)

A teller is seen at a Pick n Pay store

South Africa inflation steady, central bank seen holding rates

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="720" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/FR6EK3XJLBJTTH6TF2BLTMSD44-1.avif" alt="" class="wp-image-599216"/><figcaption class="wp-element-caption">Democratic Republic of the Congo&#8217;s President Felix Tshisekedi attends a meeting with U.S. President Joe Biden, at a Carrinho facility, near Lobito, Angola, December 4, 2024. REUTERS/Elizabeth Frantz/File Photo</figcaption></figure>



DOHA, (Reuters) &#8211; Democratic Republic of Congo President Felix Tshisekedi and his Rwandan counterpart Paul Kagame called for a ceasefire in eastern Congo on Tuesday during their first meeting since M23 rebels stepped up an offensive there in January.



A joint statement issued along with Qatar, whose emir mediated the sit-down in Doha, said the ceasefire should be &#8220;immediate and unconditional&#8221;.



But it was unclear whether that would stop the M23 insurgents who now control more territory than ever before in eastern Congo, including the region&#8217;s two biggest cities.



Congo accuses Rwanda of sending arms and Rwandan troops to support the rebels, whose offensive has plunged eastern Congo into its worst conflict in decades.



Rwanda has said its forces are acting in self-defence against Congo&#8217;s army and militias hostile to Kigali.



Neighbouring countries have been working to broker a ceasefire but an attempt to bring Congo&#8217;s government and M23 leaders together at a meeting in Angola on Tuesday failed when M23 pulled out on Monday afternoon.



At Tuesday&#8217;s meeting in Qatar, Tshisekedi and Kagame &#8220;agreed on the need to continue the discussions initiated in Doha in order to establish solid foundations for lasting peace,&#8221; the joint statement said.



A diplomat briefed on the talks said the meeting was &#8220;informal&#8221; and &#8220;not meant to replace any existing efforts.&#8221;



The conflict in east Congo is rooted in the fallout from Rwanda&#8217;s 1994 genocide and competition for mineral riches. It has spiralled since January, with thousands of people killed and hundreds of thousands forced from their homes.



The Gulf Arab state of Qatar has acted as a mediator in a number of conflicts, most recently working with Egypt and the U.S. to negotiate a ceasefire between Israel and Hamas in Gaza, which broke down earlier on Tuesday.



Qatar&#8217;s close ties with Rwanda mean Kagame would have had a hard time refusing an invitation to Tuesday&#8217;s meeting, something Tshisekedi would have also recognised, said Congolese analyst Bob Kabamba of the University of Liege in Belgium.



&#8220;Developments on the ground are making things difficult for Felix Tshisekedi. He needs to find a solution,&#8221; he said.



(Reporting by Andrew Mills and Aaron Ross; Additional reporting by Sonia Rolley; Writing by Robbie Corey-Boulet; Editing by Gareth Jones, Sharon Singleton and Daniel Wallis)

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Congo and Rwanda presidents call for east Congo ceasefire during Qatar sit-down

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="960" height="640" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/FR6EK3XJLBJTTH6TF2BLTMSD44.avif" alt="" class="wp-image-599213"/><figcaption class="wp-element-caption">Democratic Republic of the Congo&#8217;s President Felix Tshisekedi attends a meeting with U.S. President Joe Biden, at a Carrinho facility, near Lobito, Angola, December 4, 2024. REUTERS/Elizabeth Frantz/File Photo</figcaption></figure>



DOHA, March 18 (Reuters) &#8211; Democratic Republic of Congo President Felix Tshisekedi and his Rwandan counterpart Paul Kagame called for a ceasefire in eastern Congo on Tuesday during their first meeting since M23 rebels stepped up an offensive there in January.



A joint statement issued along with Qatar, whose emir mediated the sit-down in Doha, said the ceasefire should be &#8220;immediate and unconditional&#8221;.



But it was unclear whether that would stop the M23 insurgents who now control more territory than ever before in eastern Congo, including the region&#8217;s two biggest cities.



Congo accuses Rwanda of sending arms and Rwandan troops to support the rebels, whose offensive has plunged eastern Congo into its worst conflict in decades.



Rwanda has said its forces are acting in self-defence against Congo&#8217;s army and militias hostile to Kigali.



Neighbouring countries have been working to broker a ceasefire but an attempt to bring Congo&#8217;s government and M23 leaders together at a meeting in Angola on Tuesday failed when M23 pulled out on Monday afternoon.



At Tuesday&#8217;s meeting in Qatar, Tshisekedi and Kagame &#8220;agreed on the need to continue the discussions initiated in Doha in order to establish solid foundations for lasting peace,&#8221; the joint statement said.



A diplomat briefed on the talks said the meeting was &#8220;informal&#8221; and &#8220;not meant to replace any existing efforts.&#8221;



The conflict in east Congo is rooted in the fallout from Rwanda&#8217;s 1994 genocide and competition for mineral riches. It has spiralled since January, with thousands of people killed and hundreds of thousands forced from their homes.



The Gulf Arab state of Qatar has acted as a mediator in a number of conflicts, most recently working with Egypt and the U.S. to negotiate a ceasefire between Israel and Hamas in Gaza, which broke down earlier on Tuesday.



Qatar&#8217;s close ties with Rwanda mean Kagame would have had a hard time refusing an invitation to Tuesday&#8217;s meeting, something Tshisekedi would have also recognised, said Congolese analyst Bob Kabamba of the University of Liege in Belgium.



&#8220;Developments on the ground are making things difficult for Felix Tshisekedi. He needs to find a solution,&#8221; he said.



(Reporting by Andrew Mills and Aaron Ross; Additional reporting by Sonia Rolley; Writing by Robbie Corey-Boulet; Editing by Gareth Jones, Sharon Singleton and Daniel Wallis)

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="3347" height="2431" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/HS3BK3GUSZPOFDDR27NKM35YCQ.avif" alt="" class="wp-image-599180"/><figcaption class="wp-element-caption">Nigeria&#8217;s President Bola Ahmed Tinubu attends John Dramani Mahama&#8217;s swearing-in ceremony for his second term as Ghana&#8217;s president, in Accra, Ghana January 7, 2025. REUTERS/Francis Kokoroko/File Photo </figcaption></figure>



ABUJA, (Reuters) &#8211; Nigerian President Bola Tinubu declared a state of emergency on Tuesday in oil-producing Rivers State and suspended the state governor, his deputy and all lawmakers.



Tinubu, in a television broadcast, said he had received security reports in the last two days of &#8220;disturbing incidents of vandalization of pipelines by some militants without the governor taking any action to curtail them.&#8221;



&#8220;With all these and many more, no good and responsible president will standby and allow the grave situation to continue without taking remedial steps prescribed by the constitution to address the situation in the state,&#8221; added Tinubu.



Police said earlier they were investigating the cause of a blast in Rivers state that resulted in a fire on Nigeria&#8217;s Trans Niger Pipeline, a major oil artery transporting crude from onshore oilfields to the Bonny export terminal.



Rivers, in the Niger Delta, is a major source of crude oil and militants have in the past blown up pipelines, hampering production and exports.



The state has been embroiled in a political crisis pitting factions of the opposition People&#8217;s Democratic Party (PDP) against each other. The state lawmakers had also threatened to impeach the governor and his deputy.



Tinubu&#8217;s state of emergency enables the federal government to make regulations to run the state and also allow authorities to easily deploy security forces to bring order if needed.



Tinubu nominated a retired vice admiral as caretaker to run the affairs of Rivers State for an initial six months.



The president said he had sent a copy of his proclamation to the National Assembly, which can endorse or reject his decision.



&#8220;For the avoidance of doubt, this declaration does not affect the judicial arm of Rivers State, which shall continue to function in accordance with their constitutional mandate,&#8221; said Tinubu.



(Reporting by Camillus Eboh, writing by MacDonald Dzirutwe; Editing by Gareth Jones and Sandra Maler)

HS3BK3GUSZPOFDDR27NKM35YCQ

Nigeria declares state of emergency in Rivers State over pipeline vandalism

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="800" height="574" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/HE5WQ3UBCBN4FI2O2PXQLCGD6Q.avif" alt="" class="wp-image-598920"/><figcaption class="wp-element-caption">Shoppers stand at a Pick n Pay store at the Dobson Point Shopping Centre, in Soweto, South Africa, March 19, 2024. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, March 18 (Reuters) &#8211; South Africa&#8217;s Pick n Pay will broaden a rewards programme partnership with First National Bank (FNB) as part of an effort to tap the bank&#8217;s customer base and win back shoppers, the grocery retailer said.



Pick n Pay has ceded market share to larger rivals including Shoprite&nbsp;SHPJ.J&nbsp;over the past decade but is aiming to end years of poor performance&nbsp;following the appointment of&nbsp;chief executive Sean Summers in late 2023.



In the face of declining sales, the company rolled out several initiatives from mid-2022, including store revamps, the closure of unprofitable locations and&nbsp;new customer loyalty strategies.



&#8220;All of the things that we are doing &#8230; it&#8217;s what&#8217;s getting customers back into our stores, and we can already see it&#8217;s starting to turn,&#8221; Summers said at an event announcing the expanded partnership late on Monday.



Pick n Pay initially launched a version of the loyalty programme with FNB &#8211; the retail arm of FirstRand, South Africa&#8217;s second largest bank by assets &#8211; in November. But at the time it was only available to high-income clients.



Under the expanded programme, all FNB customers who shop at the grocer either in-store or online will be eligible to get back up to 30% of what they spend in the form of FNB&#8217;s eBucks loyalty points from April 1.&nbsp;Those points can be converted to cash.



FNB executives said the bank had already seen a rise in spending at Pick n Pay by those clients eligible for the programme since November.



FNB customers who had previously purchased less than a fifth of their groceries at Pick n Pay accounted for some 90% of that increase, said Pieter Woodhatch, CEO of FNB&#8217;s eBucks division, with many now making it their primary grocer.



The programme has also driven a 98% increase in online shopping among FNB&#8217;s eligible customers since November while spending on clothing has also risen, FNB executives added.



(Reporting by Nqobile Dludla; Editing by Joe Bavier)

HE5WQ3UBCBN4FI2O2PXQLCGD6Q

South Africa’s Pick n Pay targets FNB customers with expanded loyalty programme

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2713" height="1897" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/IMSRNOIVLNKWDBF2RFMYA3H56M.avif" alt="" class="wp-image-598868"/><figcaption class="wp-element-caption">South Africa&#8217;s Finance Minister Enoch Godongwana speaks at a press conference ahead of his 2025 budget speech in Cape Town, South Africa March 12, 2025. REUTERS/Esa Alexander/File Photo </figcaption></figure>



JOHANNESBURG, March 18 (Reuters) &#8211; Ratings agency Moody&#8217;s expects South Africa&#8217;s coalition government to reach a compromise that allows the country&#8217;s deadlocked budget to pass with its focus on fiscal consolidation intact.



&#8220;Our baseline is for the GNU (Government of National Unity coalition) to reach a compromise, leading to an orderly approval of the budget,&#8221; Moody&#8217;s said in an issuer comment dated March 17.



&#8220;Continued friction within the GNU means there may still be some changes to fiscal measures before parliament approves the budget, but we expect the budget&#8217;s overall focus on fiscal consolidation to remain.&#8221;



The budget was postponed last month because of disagreements in the ruling coalition over a contentious plan to raise value-added tax (VAT), before Finance Minister Enoch Godongwana presented a revised version in parliament last week.



Most big parliamentary parties publicly rejected the amended budget, despite it scaling back the size of the proposed VAT hike, and negotiations are taking place to try to break the impasse.



The revised budget aimed for public debt to peak in the fiscal year that starts on April 1, a target Moody&#8217;s predicted would remain in place in the version eventually passed by parliament.



(Reporting by Alexander Winning. Editing by Mark Potter)

IMSRNOIVLNKWDBF2RFMYA3H56M

Moody’s expects South Africa’s coalition government to reach budget compromise

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108117314-1742278295482-gettyimages-2198772571-_dsc2763-820x461.png" alt="" class="wp-image-598814" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108117314-1742278295482-gettyimages-2198772571-_dsc2763-820x461.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108117314-1742278295482-gettyimages-2198772571-_dsc2763-300x169.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108117314-1742278295482-gettyimages-2198772571-_dsc2763-160x90.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108117314-1742278295482-gettyimages-2198772571-_dsc2763-768x432.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108117314-1742278295482-gettyimages-2198772571-_dsc2763.png 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



The Wall Street adage to never bet against the U.S. consumer still holds true — to some degree. February’s retail sales, while lower than expected, still registered an increase. For the skeptics, that is like desperately squinting for a silver lining. It might very well be. But the dark clouds, in the form of U.S. President Donald Trump’s tariffs, are more ominous than usual.



Tariffs, after all, are a tax on imported goods that will likely be passed on to the consumer. That has weighed on consumer sentiment, as measured by surveys like those from the University of Michigan. Even U.S. National Economic Council Director Kevin Hassett acknowledged that Trump’s tariffs will cause some uncertainty.



The Organisation for Economic Co-operation and Development has already lowered its growth outlook for the U.S. because of that. While the Trump administration is confident that stocks will recover their footing, strategists may also start revising downward their market forecast if the outlook does not clear up.

108117314-1742278295482-gettyimages-2198772571-_dsc2763

Markets rise for the second day as U.S. consumers continue spending

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="3025" height="1994" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/HFMB3GH6JFJHVDFNQQEM23WYIE.avif" alt="" class="wp-image-598796"/><figcaption class="wp-element-caption">U.S. State Department spokesperson Tammy Bruce speaks during her first press briefing at the State Department in Washington, D.C., U.S., March 6, 2025. REUTERS/Kevin Lamarque/File Photo</figcaption></figure>



WASHINGTON, (Reuters) &#8211; Remarks by South Africa&#8217;s ambassador to the United States about President Donald Trump were &#8220;unacceptable,&#8221; a State Department spokesperson told reporters on Monday after Washington last week made the decision to expel the envoy.



Ties between the two countries have slumped since Trump cut U.S. financial aid to South Africa, citing disapproval of its land policy and its genocide case against Washington&#8217;s ally Israel at the International Court of Justice.



The expulsion of ambassador Ebrahim Rasool following an article that quoted him as saying President Donald Trump was leading a white supremacist movement, was the last straw.



Secretary of State Marco Rubio said on Saturday in a post on X that he was expelling Rasool, calling him a &#8220;race-baiting politician&#8221; who hates Trump, and reposting the article from right-wing website Breitbart.



&#8220;These remarks were unacceptable to the United States, not just to the president, but to every American,&#8221;&nbsp;State Department spokesperson Tammy Bruce,&nbsp;speaking at a daily briefing, told reporters.



&#8220;At the very least, what we should expect is a standard of some respect &#8211; basic, low-level respect &#8211; if you&#8217;re in a position that is going to help facilitate any kind of diplomatic relationship with another country.&#8221;



She added that Rasool&#8217;s privileges as ambassador expired on Monday and he must leave the country by Friday.



South Africa&#8217;s embassy in Washington did not immediately respond to a request for comment on the Breitbart article or Bruce&#8217;s comments.



<h2 class="wp-block-heading" id="h-review-of-ties">REVIEW OF TIES</h2>



South Africa previously called&nbsp;the expulsion&nbsp;regrettable in statements from its presidency and international relations department, but said it remained committed to building mutually beneficial relations.



Asked&nbsp;by reporters&nbsp;whether other ambassadors&nbsp;to&nbsp;the&nbsp;United States&nbsp;could criticize Trump without fear of being expelled, Bruce said: &#8220;You want people in each embassy who can actually facilitate a relationship.&#8221;



Rasool presented his credentials to then-President Joe Biden on January 13, a week before Trump took office, according to the embassy&#8217;s website.&nbsp;It was his second stint in Washington.



Bruce also said&nbsp;the Trump administration was conducting a serious review of Washington&#8217;s South Africa policy, citing South Africa&#8217;s&nbsp;land policy,&nbsp;its growing&nbsp;ties with countries like Russia and Iran and &#8220;aggressive positions&#8221; toward the U.S. and allies, including accusing Israel of genocide.



Trump has said, without citing evidence, that South Africa is confiscating land&nbsp;and&nbsp;that &#8220;certain classes of people&#8221; were&nbsp;being treated very badly.



South African President Cyril Ramaphosa signed into law a bill in January aimed at making it easier for the state to expropriate land in the public interest, in some cases without compensating the owner.



Ramaphosa has defended the policy as evening out racial disparities in ownership in the Black-majority nation and said the government had not confiscated any land.



(Reporting by Humeyra Pamuk; Writing by Daphne Psaledakis; Editing by Chizu Nomiyama and Nia Williams)

HFMB3GH6JFJHVDFNQQEM23WYIE

US says South African ambassador’s remarks were ‘unacceptable’

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="480" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/3GWHJ24G6BNGHDPVWY36IOPFFQ.jpg" alt="" class="wp-image-596532" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/3GWHJ24G6BNGHDPVWY36IOPFFQ.jpg 720w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/3GWHJ24G6BNGHDPVWY36IOPFFQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/3GWHJ24G6BNGHDPVWY36IOPFFQ-135x90.jpg 135w" sizes="auto, (max-width: 720px) 100vw, 720px" /><figcaption class="wp-element-caption">South Africa&#8217;s Finance Minister Enoch Godongwana speaks during his 2023 budget speech in Cape Town, South Africa, February 22, 2023. REUTERS/Shelley Christians/File Photo</figcaption></figure>



JOHANNESBURG, March 17 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s lawmakers will scrutinise the 2025 budget in the coming weeks, with amendments not ruled out as political parties weigh up a contentious plan to raise value-added tax.



<h2 class="wp-block-heading" id="h-what-has-happened-so-far">WHAT HAS HAPPENED SO FAR?</h2>



Finance Minister Enoch Godongwana tabled a revised budget on March 12 that was rejected by most big parliamentary parties despite a reduction in the size of the proposed VAT hike from 2 percentage points to 1 point, spread over two years.



There is now no clear path for the budget to be passed before the current fiscal year ends on March 31, the first time that has happened in the post-apartheid era.



Godongwana&#8217;s African National Congress (ANC) needs the support of at least one other big party for the budget to pass.



<h2 class="wp-block-heading" id="h-what-s-next-after-the-budget-was-tabled">WHAT&#8217;S NEXT AFTER THE BUDGET WAS TABLED?</h2>



Godongwana&#8217;s budget will be considered by lawmakers in three stages.



In the first stage, lawmakers vote on the fiscal framework and revenue proposals that lay out economic policy and revenue projections and set the overall limits for government spending.



Next they consider the division of revenue bill, which outlines how funds will be shared between the three spheres of government &#8211; national, provincial, and local government.



Last to be voted on is the appropriation bill, which allocates money to specific departments and programs.



Each bill must be passed before moving to the next stage.



According to parliament, lawmakers have until April 3, which is 16 working days after the budget was tabled, to approve the fiscal framework and related revenue proposals, but there is flexibility if delays occur.



Lawmakers have the power to amend the budget, within limits. According to parliamentary laws, any changes cannot exceed the revenue or spending estimates set out in the budget.



<h2 class="wp-block-heading" id="h-what-happens-if-the-budget-is-not-passed-by-april-1">WHAT HAPPENS IF THE BUDGET IS NOT PASSED BY APRIL 1?</h2>



If the budget is not passed by April 1, the start of the new fiscal year, the law allows the government to continue spending up to 45% of the previous year&#8217;s budget until parliament approves the new budget.



The government cannot implement new budgetary allocations without parliamentary approval.



<h2 class="wp-block-heading" id="h-can-the-vat-hike-be-implemented-before-the-budget-is-passed">CAN THE VAT HIKE BE IMPLEMENTED BEFORE THE BUDGET IS PASSED?</h2>



The National Treasury said it can implement the VAT hike on May 1, even if the budget has not been passed in parliament.



&#8220;The alteration will be effective from a date determined by the Minister in that announcement, and continues to apply for a period of 12 months from that date,&#8221; said the National Treasury.



Should parliamentarians scrap the VAT increase after it has been implemented, subsequent adjustments to tax laws would need to be made within 12 months and the existing tax would not require repayment, a parliamentary spokesperson said.



<h2 class="wp-block-heading" id="h-what-is-the-anc-s-next-move">WHAT IS THE ANC&#8217;S NEXT MOVE?</h2>



The budget has been the biggest test for the fractious coalition formed last year when the ANC lost its parliamentary majority for the first time in the democratic era.



ANC Secretary-General Fikile Mbalula said on Thursday that the party was prepared to talk to all political parties to find a way to pass the budget.



Godongwana has said he was open to hearing proposals from lawmakers on how to change the budget, but they needed to understand the difficult trade-offs involved.



(Reporting by Kopano Gumbi; Editing by Olivia Kumwenda-Mtambo and Hugh Lawson)

3GWHJ24G6BNGHDPVWY36IOPFFQ

What’s next for South Africa’s budget and planned VAT hike?

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="480" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/BLUQMZADUZKOLHER6AWH47IIC4.avif" alt="" class="wp-image-598481"/><figcaption class="wp-element-caption">M23 rebels gather around a truck during the escort of captured FDLR members (not pictured) to Rwanda for repatriation, at the Goma-Gisenyi Grande Barrier border crossing, March 1, 2025. REUTERS/Arlette Bashizi/File Photo</figcaption></figure>



NAIROBI, March 17 (Reuters)&nbsp;&#8211;&nbsp;Belgium and Rwanda announced the expulsion of each other&#8217;s diplomats, as relations deteriorated over allegations about their respective roles in the conflict in eastern Democratic Republic of Congo.



Kigali said it was severing diplomatic relations and giving Belgian diplomats 48 hours to leave the East African country, accusing Brussels of &#8220;using lies and manipulation to secure an unjustified hostile opinion of Rwanda.&#8221;



Belgium&#8217;s foreign affairs minister Maxime Prevot said the move was &#8220;disproportionate and shows that when we disagree with Rwanda they prefer not to engage in dialogue.&#8221;



Brussels will reciprocate by declaring Rwandan diplomats persona non grata, he added.



African leaders have been trying to establish a lasting ceasefire in Congo, where the Rwandan government is accused of supporting an offensive by M23 rebels in eastern Congo.



(Reporting by Anait Miridzhanian; Writing by Hereward Holland; Editing by Bate Felix)

BLUQMZADUZKOLHER6AWH47IIC4

Rwanda and Belgium expel each other’s diplomats over Congo conflict

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4012" height="2529" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/2E6MGWCZGVPIXHSSM74HEJZDI4.avif" alt="" class="wp-image-598407"/><figcaption class="wp-element-caption">Absa Group logo is seen on a smartphone in front of displayed same logo in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration/File Photo</figcaption></figure>



JOHANNESBURG, March 17 (Reuters) &#8211; South Africa&#8217;s Absa Group on Monday named former Standard Bank South Africa chief Kenny Fihla as its new CEO, effective June 17.



Fihla joined Standard Bank Group in 2006 and has held numerous senior roles, including that of Chief Executive Officer of its corporate investment banking (CIB) unit, Deputy Chief Executive Officer of Standard Bank Group and CEO Standard Bank South Africa.



&#8220;Under his guardianship as Chief Executive from 2017 to 2024, CIB doubled its headline earnings to 20.5 billion rand and achieved a compound annual growth rate of 8.6%,&#8221; Standard Bank said in a separate statement.



Charles Russon remains the interim CEO of Absa Group and Absa Bank until June 16. Russon will work with Fihla to ensure a smooth leadership transition, thereafter he will take a key senior role within the group executive committee, Absa said.



(Reporting by Chandini Monnappa in Bengaluru; Editing by Mrigank Dhaniwala and Louise Heavens)

2E6MGWCZGVPIXHSSM74HEJZDI4

Absa Group names Standard Bank South Africa head Kenny Fihla as new CEO

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-1251784570-820x547.jpg" alt="" class="wp-image-484765" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-1251784570-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-1251784570-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-1251784570-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-1251784570-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-1251784570-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/GettyImages-1251784570-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The International Monetary Fund (IMF) headquarters during the spring meetings of the IMF and World Bank Group in Washington, DC, US, on Thursday, April 13, 2023. The IMF trimmed its global-growth projections, warning of high uncertainty and risks as financial-sector stress adds to pressures emanating from tighter monetary policy. Photographer: Samuel Corum/Bloomberg via Getty Images</figcaption></figure>



NAIROBI, March 17 (Reuters)&nbsp;&#8211;&nbsp;The International Monetary Fund has received a formal request for a new programme from Kenyan authorities and will engage with them going forward, it said on Monday.



A ninth review under its current extended fund facility and extended credit facility programmes will not proceed, IMF said in a statement.



The IMF did not specify the kind of programme Kenya was seeking. Finance Minister John Mbadi told Reuters last month that it would be a financing programme.



The East African economy needs continued help from the lender to keep its economy on track after its debt-servicing costs surged due to a borrowing spree over the past decade.



The government has been scrambling for new financing after deadly protests last year forced it to abandon a plan to raise extra revenue via tax hikes.



(Reporting by George Obulutsa and Duncan Miriri; Editing by Jamie Freed)

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Congo and Rwanda presidents call for east Congo ceasefire during Qatar sit-down

Nigeria declares state of emergency in Rivers State over pipeline vandalism

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Markets rise for the second day as U.S. consumers continue spending

US says South African ambassador’s remarks were ‘unacceptable’

What’s next for South Africa’s budget and planned VAT hike?

Rwanda and Belgium expel each other’s diplomats over Congo conflict

Absa Group names Standard Bank South Africa head Kenny Fihla as new CEO

IMF has received a formal request for a new Kenya financing programme

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Anglo American Platinum proposes name change to Valterra ahead of spin-off

Sudan TV says army close to taking control of Presidential Palace from paramilitary RSF group

China’s central bank follows U.S. Fed in keeping rates steady as tariff threats pressure yuan

Rwanda’s economy grew 8.9% in 2024, stats office says

China markets are set to outperform Wall Street as U.S. exceptionalism comes to a pause

South Africa inflation steady, central bank seen holding rates

Congo and Rwanda presidents call for east Congo ceasefire during Qatar sit-down

Congo and Rwanda presidents call for east Congo ceasefire during Qatar sit-down

Nigeria declares state of emergency in Rivers State over pipeline vandalism

South Africa’s Pick n Pay targets FNB customers with expanded loyalty programme

Moody’s expects South Africa’s coalition government to reach budget compromise

Markets rise for the second day as U.S. consumers continue spending

US says South African ambassador’s remarks were ‘unacceptable’

What’s next for South Africa’s budget and planned VAT hike?

Rwanda and Belgium expel each other’s diplomats over Congo conflict

Absa Group names Standard Bank South Africa head Kenny Fihla as new CEO

IMF has received a formal request for a new Kenya financing programme

News Tips

Advertise With Us

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