<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/2GXUSHW4L5NUDLFNDCTMKVPUEY.avif" alt="" class="wp-image-590628"/><figcaption class="wp-element-caption">Lesetja Kganyago, Governor of the South African Reserve Bank speaks during an interview on the sidelines of the G20 Finance Ministers meeting at the Cape Town International Convention Centre, Cape Town, South Africa, February 25, 2025. REUTERS/Nic Bothma</figcaption></figure>



CAPE TOWN, Feb 25 (Reuters)&nbsp;&#8211;&nbsp;Global trade tensions and a potential value-added tax hike in South Africa could derail two years of slowing inflation, the country&#8217;s central bank governor said on Tuesday.



Speaking on the sidelines of a meeting of G20 finance officials in Cape Town, Lesetja Kganyago said uncertain trade conditions and retaliatory tariffs could impact South Africa by tightening global financing conditions and affecting its exports.



South Africa&#8217;s G20 presidency has been overshadowed by the prospect of a global trade war since U.S. President Donald Trump&#8217;s return to the White House last month.



Japan&#8217;s finance minister has pulled out of this week&#8217;s G20 finance meeting to focus on trying to pass next year&#8217;s budget, while U.S. Treasury Secretary Scott Bessent is staying away amid a spat between Trump&#8217;s administration and South Africa.



&#8220;One thing looming large is elevated uncertainty by some of the trade measures taken by major economies,&#8221; Kganyago told Reuters in an interview.



&#8220;A combination of those could feed into the domestic price formation process and create a challenge for us where you have both a slowing global economy and a rising inflation profile at the same time,&#8221; he added.



Annual consumer inflation rose for the second month in a row in December, reaching 3.0% in ZACPIY=ECI, but it remains at the bottom end of the South African Reserve Bank&#8217;s target band of 3%-6%.



The bank began cutting interest rates in September last year and has implemented three 25-basis-point cuts&nbsp;ZAREPO=ECI&nbsp;to date. But some analysts believe it may pause its cutting cycle soon due to a deterioration in the global economic backdrop and emerging domestic risks.



Last week South Africa&#8217;s national budget was postponed for the first time in its post-apartheid history after a last-minute disagreement in the ruling coalition over a proposal to raise VAT by 2 percentage points to 17%.



Finance Minister Enoch Godongwana is expected to present a new budget on March 12 without the VAT increase.



Kganyago called the proposal to raise VAT a &#8220;self-inflicted shock,&#8221; adding that if it were implemented the central bank would respond to the second-round effects on inflation.



(Reporting by Kopano Gumbi; Additional reporting by Duncan Miriri; Editing by Alexander Winning and Christina Fincher)

2GXUSHW4L5NUDLFNDCTMKVPUEY

South African central bank governor says trade and tax policies pose inflation risks

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="377" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/M34ZXN6UKBNUHJLS5HD7NFP7O4.avif" alt="" class="wp-image-590622"/><figcaption class="wp-element-caption">The logo of commodities trader Glencore is pictured in front of the company&#8217;s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo</figcaption></figure>



Feb 25 (Reuters)&nbsp;&#8211;&nbsp;Trading houses Vitol and Glencore will receive $380 million in compensation after their gas supplier, trading firm Taleveras, won a legal battle in a London court against Nigeria’s sole liquefied natural gas (LNG) producer for non-delivery of cargoes, court documents seen by Reuters showed.



The case heard in London&#8217;s High Court and Court of Appeal is the latest in a string of lawsuits brought by buyers against sellers and producers for non-delivery of cargoes after gas rallied from lows plumbed during the COVID pandemic when Russia invaded Ukraine in February 2022.



Taleveras sued Nigerian venture, known as NLNG and involving ShellSHEL.L TotalEnergies TTEF.PA and Eni ENI.MI as partners, four years ago. These three companies are minority shareholders in NLNG, along with the Nigerian state-owned oil company which has 49%. Last week, Taleveras had NLNG&#8217;s appeal rejected, according to an official video of court proceedings.



A full written judgment is due to be released in the coming weeks.



NLNG runs Nigeria’s biggest LNG plant, which covers around 5% of global supply.



NLNG said it was reviewing the ruling and declined further comment. Shell&nbsp;and Eni declined&nbsp;to comment, while TotalEnergies did not respond to a request for comment.



Court proceedings focused on 19 cargoes that NLNG had been due to deliver to Taleveras in 2020-2021.



Taleveras had pre-sold some of these cargoes to Vitol and Glencore, according to court documents.



The trading houses took legal action against Taleveras for non-delivery, leading to a chain of litigation.



The lost appeal means NLNG will need to pay Vitol around $260 million and about $120 million to Glencore, the documents said.



Vitol and Glencore did not respond to requests for comment. It was not clear how much Taleveras would receive on top of $380 million. Taleveras declined to comment.



European benchmark gas prices&nbsp;TRNLTTFMc1&nbsp;swung between 3.63 euros ($4.14) per megawatt-hour in 2020 as demand fell because of the pandemic and 311 euros ($328) per MWh in 2022 after the invasion of Ukraine disrupted supplies to Europe.



When prices soared, some producers cut supply under long-term deals and sold those volumes at higher prices on the spot market instead, triggering a wave of complaints about legality of such actions.



In one such case, Shell SHEL.L and BP BP.L pursued arbitration against Venture Global LNG, a U.S. gas exporter, for failing to supply contracted cargoes. Venture Global cited technical issues at its LNG facilities as the reason for delayed deliveries.



In the case of Taleveras versus NLNG, Reuters could not establish the reasons NLNG cited for delays.



Taleveras was founded in 2004 by Igho Sanomi, one of Nigeria’s independent energy traders. The company is now based in Dubai.



(Reporting by Anna Hirtenstein; Additional reporting by Marwa Rashad and Isaac Anyaogu; Editing by Tomasz Janowski)

M34ZXN6UKBNUHJLS5HD7NFP7O4

Vitol, Glencore win $380 million award in Nigerian LNG litigation

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="480" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/6XIG4R3DRFK2ZPWEVWERAVU4PA.avif" alt="" class="wp-image-590617"/><figcaption class="wp-element-caption">The new logo of the Nigeria oil company is seen at the NNPC Mega Gas Station in Abuja, Nigeria August 30, 2022. REUTERS/Afolabi Sotunde/File Photo</figcaption></figure>



LAGOS, Feb 25 (Reuters)&nbsp;&#8211;&nbsp;Nigeria&#8217;s state oil firm NNPC on Tuesday announced a joint venture with Swedish tanker giant Stena Bulk and Nigerian offshore logistics leader Caverton Marine to overhaul maritime transportation in West Africa.



The newly formed company will streamline crude oil, refined products and LNG shipping across West Africa and cater to other oil producers and traders in the region with modern vessels.



The companies did not share financial details of the deal, which was signed last week.



&#8220;By combining our expertise with Stena Bulk and Caverton Marine, we are creating a robust platform that will enhance our domestic refining, import and export capabilities and strengthen Nigeria&#8217;s position in global energy logistics,&#8221; Panos Gliatis, Managing Director of NNPC Shipping, said in a statement.



Erik Hånell, President &amp; CEO of Stena Bulk, said the partnership aligns with the group&#8217;s strategy to expand its presence in key growth markets.



Nigeria boasts Africa&#8217;s largest oil refinery and meets 5% of global LNG demand.



(Reporting by Isaac Anyaogu; Editing by Kirsten Donovan)

6XIG4R3DRFK2ZPWEVWERAVU4PA

Nigeria’s NNPC, Stena Bulk and Caverton launch new shipping venture

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/KWNFLKVDZBNCHKDHIAWQFVHUEU.avif" alt="" class="wp-image-590584"/><figcaption class="wp-element-caption">The logo of British multinational oil and gas company Shell is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo</figcaption></figure>



LONDON/SINGAPORE, Feb 25 (Reuters)&nbsp;&#8211;&nbsp;Global demand for liquefied natural gas is estimated to rise by around 60% by 2040, driven largely by economic growth in Asia, AI impact and efforts to cut emissions in heavy industries and transportation, Shell said in an annual report on Tuesday.



Demand for natural gas continues to rise globally as the world transitions to cleaner fuels. Industry forecasts LNG demand to reach between 630 million and 718 million metric tons a year by 2040, Shell said in its 2025 annual LNG outlook.



The latest view from the world&#8217;s largest LNG trader is higher than last year&#8217;s forecast, which pegged global LNG demand in 2040 at 625 million to 685 million tons per year.



&#8220;Upgraded forecasts show that the world will need more gas for power generation, heating and cooling, industry and transport to meet development and decarbonisation goals,&#8221; said Tom Summers, Shell&#8217;s senior vice president for LNG marketing and trading.



China, the world&#8217;s top LNG importer, and India are increasing LNG import capacity and gas related infrastructure to meet rising demand, Shell added.



Natural gas imports into China are forecast to rise this year as economic stimulus plans lift industrial demand, although trade tensions with the U.S. may cap growth.



China saw total natural gas imports, including pipeline supply, of 131.69 million tons last year, the highest since at least 2013. Of that volume, 76.65 million tons was LNG, according to its customs data.



In India, the International Energy Agency expects natural gas consumption to jump 60% between 2023 and 2030, doubling the country&#8217;s need for LNG imports, as domestic output is expected to grow much more slowly than demand.



While a young population and economic growth are driving an increase in gas demand in emerging markets Algeria, Egypt, Malaysia and Indonesia, domestic production in those markets is seen declining over the next 15 years by up to 50 million tons, equating to less available gas for export, the report said.



SUPPLY SIDE



To meet rising demand, particularly in Asia, more than 170 million tonnes of new LNG supply is set to be available by 2030, said Shell. The start-up timings of new LNG projects, however, are uncertain, Shell said.



Several LNG projects have seen delays over the past two years due to geopolitical tensions, regulatory hurdles, labour shortages and supply chain bottlenecks, delaying the availability of around 30 million tons of new LNG supply, the size of India&#8217;s LNG imports, to 2028.



In 2024, global LNG trading rose by only 2 million tons to 407 million tons due to constraints on development of new supply, marking the smallest annual increase in the past decade, the report said.



The report showed that anticipated supply during the period was between 7 million and 20 million tons but it undershot even the lowest end of the forecast range.



The report expects Europe&#8217;s LNG demand to grow in 2025 and beyond.



&#8220;Europe will continue to need LNG into the 2030s to balance the growing share of intermittent renewables in its power sector. In the longer term, existing natural gas infrastructure could be used to import bio-LNG or synthetic LNG and be repurposed for the import of green hydrogen,&#8221; the report said.



Significant growth in LNG supply will come from top exporter the United States, potentially reaching 180 million tons a year by 2030 and accounting for a third of global supply.



Analysts expect that together with Qatar’s massive North Field expansion project set to come online in 2026, the United States and Qatar could provide around 60% of global LNG supply by 2035.



(Reporting by Marwa Rashad in London and Emily Chow in Singapore; Editing by Sonali Paul and David Evans)

KWNFLKVDZBNCHKDHIAWQFVHUEU

Shell expects 60% rise in global LNG demand by 2040

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="463" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/2PLENK7UEVP6LHO27XU5VACMUU.avif" alt="" class="wp-image-590509"/><figcaption class="wp-element-caption">South African Rand coins are seen in this illustration picture taken October 30, 2020. REUTERS/Mike Hutchings/Illustration/File Photo</figcaption></figure>



JOHANNESBURG, Feb 25 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand was stable early on Tuesday as U.S. President Donald Trump&#8217;s tariff plans, uncertainty over fiscal policy and stance in the geopolitical arena weighed on U.S. markets.



The rand traded flat at 18.3750 against the dollar&nbsp;ZAR=D3, as of 0649 GMT. The dollar&nbsp;=USD&nbsp;last traded weaker against a basket of currencies.



&#8220;Tariff threats and the risk of counter-tariffs, uncertainty over fiscal policy given the mass retrenchments, and the U.S.&#8217; stance in the geopolitical arena&#8230; appear to be weighing on U.S. markets,&#8221; said ETM Analytics in a research note.



&#8220;Without any market-moving data to trade on, these international developments will guide much of the domestic market&#8217;s direction.&#8221;



South Africa&#8217;s composite leading business cycle indicator ZALEAD=ECI fell 1.8% month on month in December, central bank data showed on Tuesday.



Domestic-focussed investors await January&#8217;s consumer inflation figures&nbsp;ZACPIY=ECI&nbsp;on Wednesday and producer inflation data&nbsp;ZAPPIY=ECI&nbsp;for the same month on Thursday for clues on the health of Africa&#8217;s most industrialised economy.



South Africa&#8217;s benchmark 2030 government bond&nbsp;ZAR2030=&nbsp;was slightly stronger in early deals, with the yield down 1 basis point to 9.105%.



(Reporting by Tannur Anders and Sfundo Parakozov; Editing by Rashmi Aich)

2PLENK7UEVP6LHO27XU5VACMUU

South African rand stable as markets watch Trump policy developments

JOHANNESBURG, Feb 24 (Reuters)&nbsp;&#8211;&nbsp;Google&nbsp;GOOGL.O&nbsp;could be required to pay up to 500 million rand ($27.29 million) a year in compensation to South African media outlets after the country&#8217;s competition watchdog found the tech giant guilty of anti-competitive practices, while Meta&nbsp;META.O&nbsp;and X also face fines.



In provisional findings from a probe into market activities, released on Monday, South Africa&#8217;s Competition Commission said that&nbsp;Google&#8217;s algorithm distorts competition between news media organisations insofar as it overrepresents global news media in South Africa for search and top stories and underrepresents local language and community media.



&#8220;This inequity has materially contributed to the erosion of the media in South Africa over the past 14 years and will continue to do so unless remedied,&#8221; the watchdog&#8217;s report said.



To remedy this, it recommended that&nbsp;Google&nbsp;compensate the South African news media by 300 million to 500 million rand annually for a three to five-year period, &#8220;whilst putting in place changes to search that will sustainably create shared value with the media through increases in referral traffic.&#8221;



The watchdog will publish a final report later this year, with all parties concerned given until April&nbsp;7&nbsp;to submit evidence to support their case.



Google&nbsp;said that it will review the report in detail but disagreed with the claim that it has taken disproportionate value from publishers.



&#8220;In 2023, our products like&nbsp;Google&nbsp;Search and News generated an estimated 350 million rand in referral traffic value for South African publishers while we earned less than 19 million rand from ads displayed next to news queries,&#8221;&nbsp;Google&nbsp;said in a statement.



&#8220;Alongside this, we have invested in products, training and partnerships to support publishers and the broader news ecosystem, and will continue to do so.&#8221;



On social media companies, the Competition Commission recommended Meta-owned Facebook and X stop &#8220;deprioritising South Africa news media posts with links&#8221; in the home feed, For You and Lastestfeed algorithm and restore referral traffic to the media.



It wants Meta and&nbsp;Google&#8217;s YouTube to improve the ability of news media to monetize their content on these platforms through increases in revenue share.



If all these companies fail to implement these remedies within six months after the final report, a 5-10% digital advertising tariff or levy will be imposed, according to the report.



Meta was not immediately available for comment.



The remedies only apply to the South African operations of these companies, the Commission said.



($1 = 18.3215 rand)



(Reporting by Nqobile Dludla; Editing by Susan Fenton)

65GOX4BM3RI3VORRYQ5THS3W6M

Google, Meta face penalties for anti-competitive behaviour towards South African news media

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/ZVW7NKNERBPHZKW4NK6ZSJEQLM.avif" alt="" class="wp-image-590235"/><figcaption class="wp-element-caption">A general view of the cityscape of Addis Ababa, Ethiopia, April 24, 2024. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



ADDIS ABABA, Feb 24 (Reuters)&nbsp;&#8211;&nbsp;Ethiopia&#8217;s&nbsp;central bank said on Monday it was conducting a foreign exchange auction for $60 million, with the sale open to all banks.



In July 2024, Ethiopia&#8217;s central bank removed restrictions on the foreign currency market, a crucial step towards securing funding from the International Monetary Fund and making progress on a long-delayed debt overhaul.



The National Bank of Ethiopia said the auction was being held to offset what could become excessive money supply growth.



In December 2023, Ethiopia which is struggling with high inflation and chronic foreign currency shortages, became the third economy on the African continent in as many years to default on its debt.



(Reporting by Dawit Endeshaw; Writing by George Obulutsa; Editing by Andrew Cawthorne and Susan Fenton)

ZVW7NKNERBPHZKW4NK6ZSJEQLM

Ethiopia central bank holds $60 million foreign exchange auction

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="447" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/EZE77FVNOZJDZBIVDI2UJD5UNM-1.avif" alt="" class="wp-image-590203"/><figcaption class="wp-element-caption">A drone view shows South Africa&#8217;s Sasol petrochemical refinery in Sasolburg, southwest of Johannesburg, South Africa, November 19, 2024. REUTERS/Thando Hlophe/File Photo</figcaption></figure>



Feb 24 (Reuters)&nbsp;&#8211;&nbsp;South African petrochemical firm Sasol&nbsp;SOLJ.Jis exiting the coal export market as it starts a de-stoning project to enhance the quality of feedstock into its core synthetic fuel and chemicals business, executives said on Monday.



Sasol produces fuel and chemicals from coal and gas, while exporting about 2 million tons of the fossil fuel annually.



However, the quality of the coal going into Sasol&#8217;s Secunda operations has been poor for years, mainly due to high stone content. This has resulted in the company producing low volumes of fuels and chemicals, persistently underperforming historical output levels around 7.6 million tons.



The company is repurposing its current coal export plant into one which reduces stone content to address the quality problem, CEO Simon Baloyi said during a results call.



The quality of the coal coming out of its mines &#8220;was no longer export quality&#8221;, Baloyi said, adding that the de-stoning project would restore fuel and chemical production to historical levels.



&#8220;We make more money by beneficiating coal into fuel and chemicals than we do selling it as export coal,&#8221; Sasol&#8217;s finance director Walt Bruns told Reuters in an interview.



Sasol will lease its allotted coal export quota at the Richards Bay Coal Terminal to other miners, Bruns added.



Earlier on Monday, Sasol reported a 31% decline in headline earnings per share to 14.13 rand ($0.7712)in the six months to December 2024, from 20.37 rand per share previously&nbsp;on a fall in oil prices and lower sales volumes.



The company said it did not declare a dividend because it ended the period with a negative free cash flow of 1.1 billion rand, while its net debt of $4.3 billion exceeded levels set in its capital allocation policy.



($1 = 18.3223 rand)



(Reporting by Nelson Banya; Editing by Sonali Paul, Tom Hogue and Chizu Nomiyama)

EZE77FVNOZJDZBIVDI2UJD5UNM (1)

Sasol exits coal export market, focuses on quality upgrade

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="402" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/PX47AV3OGVODBAQQ2I46RGINQA.avif" alt="" class="wp-image-590112"/><figcaption class="wp-element-caption">Prosus&#8217; logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration/File Photo&nbsp;</figcaption></figure>



JOHANNESBURG, Feb 24 (Reuters)&nbsp;&#8211;&nbsp;Dutch technology investor Prosus&nbsp;PRX.AS&nbsp;has agreed to buy Just Eat Takewaway.com&nbsp;TKWY.AS&nbsp;for 4.1 billion euros ($4.3 billion) to create a &#8220;European tech champion&#8221; of food delivery.



Prosus, majority owned by South Africa&#8217;s Naspers&nbsp;NPNJn.J, is also the biggest shareholder in Glovo owner Delivery Hero&nbsp;DHER.DE&nbsp;with a 28% stake, it said in a statement on Monday.



The deal would mark a significant shift in the European food delivery market and have potential global implications, as it would make Prosus the fourth largest food delivery company in the world behind Meituan&nbsp;3690.HK, DoorDash&nbsp;DASH.O&nbsp;and Uber&nbsp;UBER.N, ING analysts said in a note.



With a food business spanning more than 70 countries, Prosus also owns Latin America&#8217;s top food delivery platform iFood, has a 25% stake in India&#8217;s leading food and grocery delivery platform Swiggy and a 4% stake in Meituan, it said.



Shares in Prosus fell 6% in Amsterdam after the announcement, while Just Eat surged 55% to match the premium of the offer price. Naspers&#8217; shares fell 6.3% in Johannesburg.



Prosus is offering 20.30 euros per a Just Eat share. The offer for the entire share capital is unanimously supported by Just Eat&#8217;s management and supervisory board.



Shares in Delivery Hero jumped 5%. A German trader said some analysts were seeing the deal as a first step towards a merger between the Dutch and German food delivery groups.



Prosus CEO Fabricio Bloisi said there was no plan or project on Delivery Hero right now.



&#8220;Our focus is growth and with growth we expect to create more jobs in many dimensions. More jobs in technology sector but also more jobs in restaurants and more opportunities for drivers too,&#8221; he told reporters in a call, referring to Just Eat.



Bloisi added that the new technology investment, including AI, would be aimed at making Just Eat&#8217;s delivery model more efficient.



&#8220;We are not looking forward to other big news in food delivery or acquisitions right now,&#8221; he said.



Citi analysts estimated that Prosus has some $5 billion to invest in further M&amp;A, though they expect the near term focus to be on execution and growth in its owned assets.



Just Eat&#8217;s management will remain in place and the company will stay based in Amsterdam, its CEO Jitse Groen said in a separate media call.



Earlier on Monday, Just Eat reported 36% growth in its 2024 core profit.



($1 = 0.9513 euros)



(Reporting by Nqobile Dludla in Johannesburg and Leo Marchandon in Gdansk, additional reporting by Paolo Laudani and Toby Sterling; Editing by Tom Hogue and Milla Nissi)

PX47AV3OGVODBAQQ2I46RGINQA

Prosus to buy Just Eat to create a European food delivery ‘champion’

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="385" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/V3GAS2DKHFO7PLO4JIKEEFCTKY.avif" alt="" class="wp-image-590106"/><figcaption class="wp-element-caption">The retired coal-fired Komati Power Station, operated by Eskom, is seen near Komati village, in the Mpumalanga province in South Africa, May 9, 2024. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



CAPE TOWN, Feb 24 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s Eskom has managed to restore eight units at power plants after implementing its highest stage of controlled power cuts early on Sunday, the power utility said after multiple failures at Majuba and Camden power stations over the weekend.



On Saturday, Eskom applied Stage 3 power cuts, known locally as loadshedding, effectively cutting 3,000 megawatts to the national grid.



&#8220;Of the 10 units that we lost overnight, we have essentially returned six units,&#8221; Eskom group CEO Dan Marokane told reporters on Sunday.



He said five to six units were expected to become operational during the course of the day, bolstering the 3,200 MW of capacity recovered overnight.



&#8220;We anticipate to get out of this stage by the end of the week,&#8221; he said, adding that given the pace of recovery Eskom would consider dialling down its power cuts by Monday.



Early on Monday morning, Eskom said the power outages would be reduced to Stage 4 until further notice.



Regular breakdowns at Eskom&#8217;s fleet of ageing coal-fired plants, providing the bulk of electricity in Africa&#8217;s most industrialised economy, are often the cause of loadshedding &#8211; an incremental system where Stage 1 sees 1,000 MW cut from the system, with Stage 6 the highest implemented to date.



(Reporting by Wendell Roelf; Editing by William Mallard, Tomasz Janowski and Rashmi Aich)

V3GAS2DKHFO7PLO4JIKEEFCTKY

South Africa faces highest level power cuts as generation units fail

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="410" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/108104863-1740053249386-gettyimages-2192627338-vcg111540435779-820x410.jpeg" alt="" class="wp-image-589024" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/108104863-1740053249386-gettyimages-2192627338-vcg111540435779-820x410.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/108104863-1740053249386-gettyimages-2192627338-vcg111540435779-300x150.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/108104863-1740053249386-gettyimages-2192627338-vcg111540435779-160x80.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/108104863-1740053249386-gettyimages-2192627338-vcg111540435779-768x384.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/108104863-1740053249386-gettyimages-2192627338-vcg111540435779.jpeg 884w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">BEIJING, CHINA &#8211; JANUARY 06: The People’s Bank of China (PBOC) building is seen on January 6, 2025 in Beijing, China.  Visual China Group | Getty Images</figcaption></figure>



China could cut its main policy rate as soon as next month following the country’s annual parliamentary meeting, economists told CNBC, after the country’s central bank kept the loan prime rates steady Thursday.



The People’s Bank of China held the 1-year LPR at 3.1%, and the 5-year LPR at 3.6%. The decision was in line with Reuters poll estimates.



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



“Pressure on the banks’ net interest margins and exchange rate amid slower pace of the Federal Reserve’s rate cuts all lead to a stabilization of China’s policy rate,” said Bruce Pang, adjunct associate professor at Chinese University of Hong Kong business school.



Pang, however, expects a 50-basis-point cut to the reserve requirement ratio as soon as next month and anticipates the 7-day reverse repo rate — the country’s main policy rate — to be lowered by 40 to 50 basis points this year.



China’s central bank frequently uses the 7-day reverse repo rate — which controls the amount of liquidity in the banking system — to signal its monetary policy intentions and guide the LPR in the desired direction.



The PBOC has kept its 7-day rate has steady at 1.5% since a cut in September, as the central bank sought to defend the yuan that faces downward pressure amid threats of higher tariffs.



Supporting the yuan, however, comes with risks to the economy, as a weaker yuan could help keep Chinese exports competitively priced abroad, while a stronger currency makes imports more expensive at a time when consumer demand has been weak.



“We still think [the 7-day rate] has a decent chance to be cut in Q1,” Lynn Song, chief economist at ING said, as the real interest rate remains relatively high. He expects PBOC to cut rates after the annual parliamentary meeting in Beijing next month.



“Cutting rates further could help encourage investment and consumption,” Song said, adding that the pressure on yuan had subsided recently, making the case for a rate cut.



China is set to release its 2025 full-year growth target at its parliamentary meeting chaired by Xi Jinping. The event, which typically lasts about a week, is scheduled to kick off on March 5.



The policymakers are likely to keep the official real growth target unchanged at “around 5%” while lowering the consumer inflation target to “around 2%” from “around 3%” last year, according to Goldman Sachs.



The Wall Street bank expects policymakers to reiterate their pro-growth monetary easing pledges at the meeting while committing to stabilizing the yuan in a “reasonable range.”



PBOC Governor Pan Gongsheng said at a conference in Saudi Arabia on Sunday that a stable yuan has been critical to maintaining global financial and economic stability. Pan also reiterated Beijing’s commitment to adopt a proactive fiscal policy and an accommodative monetary policy this year.



Chinese offshore yuan has fallen nearly 2.5% against the greenback since Donald Trump’s election victory in November, after recouping some of the losses in recent weeks. It strengthened 0.20% on Thursday to trade at 7.2673 on the dollar.



<h2 class="wp-block-heading" id="h-spurring-growth-vs-steadying-yuan"><a></a>Spurring growth vs. steadying yuan</h2>



The world’s second-largest economy has been struggling to emerge from a prolonged property crisis and tepid consumer demand. China’s manufacturing activity unexpectedly contracted in January, while services activity weakened, keeping alive calls for more stimulus.



While the PBOC officials said late last year, they would cut banks’ reserve requirement ratio and interest rates at an “appropriate time,” the rate cuts are yet to materialize, as policymakers face more trade tensions with the U.S.



Since the inauguration last month, U.S. President Donald Trump has imposed a 10% tariff on all imports from China, on top of existing tariffs of up to 25%.



However, market concerns over trade tensions are easing, following reports that Trump may strike a wide-ranging deal with China, a team of analysts at DBS Bank said in a note on Thursday.



“Increased hopes of a U.S.-China comprehensive deal may limit any deterioration in RMB sentiment going forward, even as markets await further Trump tariffs,” the bank said.



Constraining PBOC’s easing steps is also the Fed’s slower pace with policy rate cuts. The U.S. Federal Reserve officials agreed they would need to see inflation come down further before lowering interest rates, according to the minutes of their January meeting, released Wednesday.

108104863-1740053249386-gettyimages-2192627338-vcg111540435779

China is likely to cut its benchmark policy rate next month, economists say, after PBOC keeps LPR steady

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3333" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/6RCXJR3LVNJQPK7SYWKC64O5XY.avif" alt="" class="wp-image-588973"/><figcaption class="wp-element-caption">China&#8217;s Foreign Minister Wang Yi speaks to the press following a meeting of the United Nations Security Council at the U.N. headquarters in New York City, U.S., February 18, 2025. REUTERS/Brendan McDermid/File Photo</figcaption></figure>



BEIJING, Feb 21 (Reuters)&nbsp;&#8211;&nbsp;China came out in support of U.S. President Donald Trump&#8217;s bid to strike a deal with Russia to end the war in Ukraine, at a G20 meeting in South Africa on Thursday, while U.S. allies rallied around Ukrainian President Volodymyr Zelenskiy.



Less than a month into his presidency, Trump has upended U.S. policy on the war, scrapping a campaign to isolate Moscow with a phone call to Russian President Vladimir Putin and talks between senior U.S. and Russian officials that have sidelined Ukraine.



Trump on Wednesday then denounced Zelenskiy as a &#8220;dictator,&#8221; prompting statements of support for the Ukrainian president from G20 members such as Australia, Germany and the United Kingdom.



&#8220;China supports all efforts conducive to peace (in Ukraine), including the recent consensus reached between the United States and Russia,&#8221; Wang Yi told other G20 foreign ministers gathered in Johannesburg, according to a statement from his ministry.



&#8220;China is willing to continue playing a constructive role in the political resolution of the crisis,&#8221; he added.



Wang did not reiterate the point he made at the Munich Security Conference last Friday that all stakeholders in the Russia-Ukraine conflict should participate in any peace talks.



&#8220;China is generally happy to see the easing of relations between the United States and Russia and the shift of the Ukrainian crisis to a political solution, but will pay close attention to the direction of negotiations and the direction of easing of U.S.-Russian relations,&#8221; said Cui Hongjian, head of European Union studies at Beijing Foreign Studies University.



&#8220;If China participates in mediation, it can reduce the risk of the United States using the easing of relations with Russia to harm China&#8217;s interests.&#8221;



He added that Wang Yi&#8217;s previous remark that all stakeholders should be included in talks covers not only Ukraine and Europe, but also China and Global South countries.



Global South countries represent developing, emerging or lower-income nations, mostly in the southern hemisphere.



However, other analysts were sceptical of China&#8217;s substantive involvement beyond rhetorical statements at this stage, given Beijing&#8217;s aversion to taking geopolitical risks.



&#8220;China is happy not to be called on the spot to deliver because they don&#8217;t know what Trump will demand,&#8221; said Alexander Gabuev, director of the Carnegie Russia Eurasia Center.



&#8220;Trump wanted China&#8217;s involvement initially but now he&#8217;s spoken to Putin. He is under the impression that he doesn&#8217;t need China to get a deal with Putin and Putin will give him a perfect and better deal going forward.&#8221;



Wang said China-Russia relations are &#8220;moving towards a higher level and broader dimension&#8221; during a meeting with Russian Foreign Minister Sergey Lavrov on the sidelines of the G20. Both men will meet in Moscow soon for their next talks, Lavrov said earlier on Thursday.



Other analysts believe that China wants to keep a foot in the door of negotiations because it wants to take part in Ukraine&#8217;s reconstruction.



&#8220;China might turn its attention to discussing a Chinese role in eventual reconstruction and peacekeeping &#8211; something that would give Beijing a significantly more vested interest in European security architecture,&#8221; said Ruby Osman, a China expert at the Tony Blair Institute for Global Change.



The Trump administration said on Tuesday it had agreed to hold more talks with Russia on ending the nearly three-year long conflict after a 4-1/2-hour long meeting in Saudi Arabia.



Russia said the talks had been useful, but hardened its demands, notably insisting it would not tolerate the NATO alliance granting membership to Ukraine.



(Reporting by Joe Cash and Laurie Chen; Editing by Sonali Paul and Michael Perry)

6RCXJR3LVNJQPK7SYWKC64O5XY

China backs Trump’s Ukraine peace bid at G20 as US allies rally behind Zelenskiy

<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, Feb 20 (Reuters) &#8211; Nigeria&#8217;s central bank held its benchmark lending rate at 27.50%, its governor Olayemi Cardoso said on Thursday.



The decision follows six rate hikes last year totalling&nbsp;875 basis points&nbsp;to try to get inflation under control.



Earlier this week the statistics agency unveiled a much lower annual inflation rate of&nbsp;24.48%&nbsp;in January after a rebasing exercise.



The naira currency&nbsp;has been relatively stable since December, potentially reassuring the central bank.



(Reporting by Elisha Bala-Gbogbo and Chijioke Ohuocha; Additional reporting by Bhargav Acharya in Johannesburg and MacDonald Dzirutwe in Lagos; Editing by Alexander Winning)

QPQQ77FJE5JRTNVTB23SO7K7RM

Nigeria’s central bank keeps main interest rate unchanged

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="531" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-820x531.jpg" alt="" class="wp-image-496289" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-820x531.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-300x194.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-139x90.jpg 139w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-768x497.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-1536x994.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/4OOZWTKIY5LIFJQATNM7KMQ4T4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A building of the Bank of Botswana is seen in the capital Gaborone in Botswana, in this November 26, 2015 file photo. REUTERS/Siphiwe Sibeko</figcaption></figure>



GABORONE, Feb 20 (Reuters) &#8211; Botswana&#8217;s central bank kept its monetary policy rate unchanged for the third meeting in a row at 1.90% in a decision announced on Thursday.



Inflation in the Southern African country quickened to 2.5% year on year in January, from 1.7% a month earlier.



The Bank of Botswana prefers inflation between 3% and 6% in the medium term.



Botswana&#8217;s economy is largely dependent on the export of diamonds, with a sharp downturn in global demand for the precious stone triggering an economic contraction last year.



But the government hopes the economy will rebound this year because of an improvement in the global diamond market and a better performance in other sectors.



(Reporting by Brian Benza; Additional reporting by Bhargav Acharya; Writing by Sfundo Parakozov; Editing by Alexander Winning)

File photo of building of the Bank of Botswana in the capital Gaborone in Botswana

Botswana central bank holds key rate for third consecutive meeting

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1500" height="1000" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/EZPYBC4O4FOVFK4OHFZ6JGQSCM.avif" alt="" class="wp-image-588658"/><figcaption class="wp-element-caption">South African President Cyril Ramaphosa gestures as he delivers his 2025 State of the Nation Address in Cape Town, South Africa, February 6, 2025. REUTERS/Esa Alexander/File Photo</figcaption></figure>



JOHANNESBURG, Feb 20 (Reuters) &#8211; Foreign ministers from the G20 top economies were to meet in South Africa on Thursday and Friday, amid tensions between members over the Ukraine war, trade disputes and with the top U.S. diplomat staying away owing to a feud with the hosts.



The G20 countries, which represent some 85% of global GDP and three quarters of trade, often struggle to see eye to eye, but geopolitical rifts since Russia&#8217;s 2022 Ukraine invasion have rendered it more fractious than ever.



The discord has increased since President Donald Trump took office a month ago and implemented rapid changes in Washington&#8217;s trade and foreign policies.



South Africa holds the rotating presidency of the group and for President Cyril Ramaphosa the first G20 meeting in Africa was an opportunity to get rich nations to heed poorer countries&#8217; concerns &#8211; worsening inequality, inadequate action on climate change, and a financial system that favours investment banks over poor sovereign debtors.



But the United States won&#8217;t be attending: Secretary of State Marco Rubio earlier this month rejected as &#8220;very bad&#8221; the previously agreed agenda of &#8220;diversity, equity and inclusion&#8221;.



Then Trump cut U.S. aid to South Africa in an ideological dispute with the latter&#8217;s efforts to redress historic racial injustices in land ownership &#8211; and over its genocide case against U.S. ally Israel at the International Court of Justice.



The gathering takes place as Trump has upended the U.S. policy of solidarity with Ukraine as he seeks to broker peace in its war with Russia. He has blamed President Volodymyr Zelenskiy for the conflict, and sidelined NATO allies in ending a campaign to isolate Russia.



The U.S. absence is an opportunity for China, which has the world&#8217;s second biggest economy, to expand its influence. Such efforts by Beijing are normally focused on the Global South but China has quickly sought to capitalise on the cracks in the transatlantic alliance.



Its foreign ministry said on Monday that &#8220;healthy and stable&#8221; China-EU relations are needed now more than ever.



(Reporting by Tim Cocks; Additional reporting by Nellie Peyton, Tannur Anders in Johannesburg; Editing by Frances Kerry)

EZPYBC4O4FOVFK4OHFZ6JGQSCM

G20 foreign ministers gather amid tensions over trade, Ukraine

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg" alt="" class="wp-image-423556" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS/Thomas White/Illustration</figcaption></figure>



JOHANNESBURG, Feb 20 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand firmed slightly in early trade on Thursday, recouping some of the previous session&#8217;s losses as focus shifted from a delay in the national budget to the first meeting of G20 foreign ministers in Johannesburg.



At 0812 GMT, the rand traded at 18.4925 against the dollar, about 0.2% stronger than its previous close.



The local currency slipped on Wednesday after a last-minute postponement of the budget due to disagreements within the country&#8217;s coalition government over a proposal to hike value-added tax (VAT).



President Cyril Ramaphosa said the cabinet would work together to deliver a new budget, which is now scheduled for March 12.



South Africa, which currently has the presidency of the Group of 20 major economies, will host the first meeting of foreign ministers later on Thursday amid tensions with the U.S. over the country&#8217;s land redistribution policy and its genocide case against Israel at the World Court.



G20 finance ministers and central bank governors are due to meet next week in Cape Town.



South Africa&#8217;s benchmark 2030 government bond was slightly stronger, with the yield down 1.5 basis points to 9.165%.



(Reporting by Sfundo Parakozov; Editing by Helen Popper)

Illustration photo of South African rand

South African rand partially recoups losses, with focus on G20 meeting

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3334" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/YHJLDZP43BMT3MATCRMZFOLZ6Q.avif" alt="" class="wp-image-588585"/><figcaption class="wp-element-caption">U.S. Secretary of the Treasury Scott Bessent speaks, at the White House, in Washington, U.S. February 3, 2025. REUTERS/Elizabeth Frantz/File Photo</figcaption></figure>



MIAMI/BERLIN, Feb 19 (Reuters)&nbsp;&#8211;&nbsp;U.S. Treasury Secretary Scott Bessent&nbsp;said on Wednesday he will&nbsp;skip next week&#8217;s meeting of finance ministers and central bank governors from the Group of 20 major economies in Cape Town, South Africa.



The decision to miss the regular gathering of finance leaders from the world&#8217;s largest economies is highly unusual for a U.S. Treasury secretary, as the U.S. often leads G20 agreements on financial and monetary policy matters.



Bessent said in a post on X that he would not attend the summit due to &#8220;obligations in Washington&#8221;. A senior official would attend in his place, he added.



He said he looked forward to seeing his global counterparts in Washington meetings of the International Monetary Fund and the World Bank in coming months.



One of the sources told Reuters that G20 member countries had been informed of Bessent&#8217;s decision not to attend. A second source said Bessent could not attend because he had &#8220;duties with the president.&#8221;



It was not immediately clear if those duties were linked to a possible summit meeting between U.S. President Donald Trump and Russian President Vladimir Putin.



Trump on Tuesday told reporters he would &#8220;probably&#8221; still meet with Putin to discuss ending the Ukraine war before the end of the month. The Kremlin echoed that hope early Wednesday, but said the meeting could happen later.



The White House and&nbsp;U.S. Treasury did not respond to&nbsp;requests for comment&nbsp;on&nbsp;Bessent&#8217;s&nbsp;plans. The New York Times first reported Bessent&#8217;s planned absence.



The G20&nbsp;group &#8211; which includes the U.S., China and Russia among others &#8211; has&nbsp;tackled a range of issues affecting the global economy,&nbsp;from responding to the COVID-19 pandemic and fighting inflation to&nbsp;dealing with&nbsp;climate change, debt&nbsp;distress and trade conflicts.



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



South Africa holds the G20 presidency from December 2024 to November 2025.&nbsp;The U.S. will head the group next year.



Tensions between the U.S. and South Africa have risen in recent weeks following complaints from&nbsp;Trump&nbsp;over South Africa&#8217;s land policy.



Earlier this month, Trump said that &#8220;South Africa is confiscating land&#8221; and &#8220;certain classes of people&#8221; were being treated &#8220;very badly.&#8221;



The White House said Washington would formulate a plan to resettle white South African farmers and their families as refugees, with U.S. officials to prioritize humanitarian relief for Afrikaners in South Africa, who are mostly white descendants of early Dutch and French settlers.



U.S. Secretary of State Marco Rubio subsequently canceled a trip to Johannesburg for a meeting of G20 foreign ministers on Thursday and Friday.



Mark Sobel, a former senior Treasury official, said the decision to skip the G20 gathering was a huge error.



&#8220;This was a golden opportunity for Bessent to meet his counterparts in plenary sessions and more importantly in behind-the-scenes bilaterals, including with China,&#8221; for discussions on global economic and tax policy and exchange rates, said Sobel, U.S. chair of the OMFIF think tank.



(Reporting by Andrea Shalal in Miami, Katherine Jackson in Washington and Christian Kraemer in Berlin; Additional reporting by David Lawder and Jasper Ward; Writing by David Lawder and Brendan O&#8217;Boyle; Editing by Chizu Nomiyama and Stephen Coates)

featured

South African central bank governor says trade and tax policies pose inflation risks

Vitol, Glencore win $380 million award in Nigerian LNG litigation

Nigeria’s NNPC, Stena Bulk and Caverton launch new shipping venture

Shell expects 60% rise in global LNG demand by 2040

South African rand stable as markets watch Trump policy developments

Google, Meta face penalties for anti-competitive behaviour towards South African news media

Ethiopia central bank holds $60 million foreign exchange auction

Sasol exits coal export market, focuses on quality upgrade

Prosus to buy Just Eat to create a European food delivery ‘champion’

South Africa faces highest level power cuts as generation units fail

China is likely to cut its benchmark policy rate next month, economists say, after PBOC keeps LPR steady

China backs Trump’s Ukraine peace bid at G20 as US allies rally behind Zelenskiy

Nigeria’s central bank keeps main interest rate unchanged

Botswana central bank holds key rate for third consecutive meeting

G20 foreign ministers gather amid tensions over trade, Ukraine

South African rand partially recoups losses, with focus on G20 meeting

US Treasury’s Bessent to skip G20 meeting in South Africa

News Tips

Advertise With Us

featured

South African central bank governor says trade and tax policies pose inflation risks

Vitol, Glencore win $380 million award in Nigerian LNG litigation

Nigeria’s NNPC, Stena Bulk and Caverton launch new shipping venture

Shell expects 60% rise in global LNG demand by 2040

South African rand stable as markets watch Trump policy developments

Google, Meta face penalties for anti-competitive behaviour towards South African news media

Ethiopia central bank holds $60 million foreign exchange auction

Sasol exits coal export market, focuses on quality upgrade

Prosus to buy Just Eat to create a European food delivery ‘champion’

South Africa faces highest level power cuts as generation units fail

China is likely to cut its benchmark policy rate next month, economists say, after PBOC keeps LPR steady

China backs Trump’s Ukraine peace bid at G20 as US allies rally behind Zelenskiy

Nigeria’s central bank keeps main interest rate unchanged

Botswana central bank holds key rate for third consecutive meeting

G20 foreign ministers gather amid tensions over trade, Ukraine

South African rand partially recoups losses, with focus on G20 meeting

US Treasury’s Bessent to skip G20 meeting in South Africa

News Tips

Advertise With Us

Newsletters