<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4450" height="2821" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/A7SIENHHFZJPXGXH6CVMW2PNXQ.avif" alt="" class="wp-image-604368"/><figcaption class="wp-element-caption">A general view shows the Tetra Pak factory floor in Durban, South Africa, April 4, 2024. REUTERS/Rogan Ward/File Photo</figcaption></figure>



JOHANNESBURG, April 1 (Reuters)&nbsp;&#8211;&nbsp;A South African purchasing managers&#8217; index (PMI) survey showed that conditions in the manufacturing sector remained depressed in March, but there was a slight improvement in sentiment thanks to better demand.



The seasonally-adjusted PMI sponsored by South African bank Absa rose to 48.7 points in March from 44.7 in February, but it remained below the 50-point mark that separates expansion from contraction.



&#8220;While the headline PMI remained in contractionary territory for a fifth consecutive month, this is the highest reading since the 52.6 points recorded in October,&#8221; Absa said in a statement.



There was an improvement in the business activity sub-index as export sales helped demand recover.



But Absa said scheduled power cuts and strained South Africa-U.S. relations were likely putting a dampener on the mood.



President Donald Trump has cut U.S. financial assistance to South Africa, citing disapproval of the country&#8217;s approach to land reform and its genocide case against Washington&#8217;s close ally Israel at the World Court.



Businesses also fear South Africa&#8217;s preferential trade status under the U.S. African Growth and Opportunity Act could be under threat with Trump in the White House.



(Reporting by Sfundo Parakozov; Editing by Alexander Winning)

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South African manufacturing conditions still depressed, Absa PMI shows

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3496" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/YPYZLCVLKZMVJOWUT7HMSPRWEE.avif" alt="" class="wp-image-596933"/><figcaption class="wp-element-caption">A woman walks past a Standard Bank logo at the Investing in African Mining Indaba 2024 conference in Cape Town, South Africa February 7, 2024. REUTERS/Esa Alexander/File Photo</figcaption></figure>



Standard Bank Group, Africa’s largest lender by assets, has hiked its sustainable finance targets by 80 percent to R450 billion in the next three years as part of a broader effort to help decarbonise the continent’s economies while mitigating the impact of climate change.



The target will be reached by 2028 and builds on the R177 billion achieved since 2022 and R74.3 billion financed last year, Johannesburg-based Standard Bank said in a statement. It had initially targeted raising R250 billion by 2026.



‘’The revised targets emphasise Standard Bank’s commitment to leading energy and infrastructure development on the continent,’’ the bank said. ‘’Standard Bank’s purpose is to drive Africa’s growth by ensuring that its business activities address the continent’s challenges and deliver improved prosperity for its people.’’



Africa has been affected the most by the change in climate even though it contributes the least in greenhouse gases that scientists blame for the shifts in temperatures and weather patterns afflicting the globe. The African Development Bank estimates the continent needs $2.7 trillion in financing by 2030 to reach its climate change goals.



So far, only South Africa and Senegal have approved just energy transition programmes, with the South African programme taking a hit with the United States’ withdrawal of $1.5 billion from country’s $8.5 billion programme.&nbsp;



Standard Bank said its programme on the continent is focussed on driving financial health and inclusion, business growth and job creation, climate change mitigation and adaptation, and infrastructure development. It said it will continue to finance new oil and gas projects with environmental and social safeguards. ‘’This balanced approach includes limiting upstream oil and gas exposure to less than 30% of the energy portfolio and less than 3% of the bank’s total loans and advances, with a goal of reducing the physical intensity of the portfolio by 10% by 2030,’’ it said.

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Standard Bank almost doubles sustainable finance commitments to R450 billion

<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, April 1 (Reuters)&nbsp;&#8211;&nbsp;The South African rand weakened early on Tuesday as negotiations between coalition partners over the deadlocked budget dragged on, hours before a key parliamentary committee was set to debate it.



Local news reports had said on Monday that the two biggest political parties in the coalition, the African National Congress (ANC) and the Democratic Alliance (DA), were close to a deal to pass the budget.



But on Tuesday the DA&#8217;s leader said a deal had not yet been reached and his party would oppose the budget until there was a written agreement.



The ANC&#8217;s chief whip said his party was optimistic it had &#8220;sufficient consensus&#8221; to pass the first parliamentary hurdle for the budget, the consideration of the fiscal framework by parliament&#8217;s Standing Committee on Finance on Tuesday.



At 0655 GMT, the rand traded at 18.36 against the dollar, 0.2% weaker than its previous close. It had gained ground on Monday on the reports that the ANC and DA were nearing a deal.



Trade in the rand tends to be highly volatile when there are major local drivers like the budget wrangling or global risk events.



Domestic economic data releases on Tuesday include a purchasing managers&#8217; index survey for the manufacturing sector, set to be published at 0900 GMT.



The benchmark 2030 government bond was marginally stronger in early deals, the yield down 1.5 basis points to 9.08%.



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

Illustration photo of South African rand

South African rand slips as budget negotiations drag on

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



NAIROBI, April 1 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.



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



Asian equities rose on Tuesday following Wall Street&#8217;s overnight gains, while gold hit an all-time peak and Treasury yields fell as markets awaited details of U.S. President Donald Trump&#8217;s reciprocal tariffs.



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



Oil prices inched higher on Tuesday after threats by U.S. President Donald Trump to impose secondary tariffs on Russian crude and attack Iran, though worries about the impact of a trade war on global growth capped gains.



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



The South African rand strengthened on Monday as local news reports said the two biggest political parties in the ruling coalition government were close to an agreement that could end an impasse over the country&#8217;s national budget.



<h2 class="wp-block-heading" id="h-kenya-inflation">KENYA INFLATION</h2>



Kenya&#8217;s inflation rose to 3.6% year-on-year in March from 3.5% a month before, the statistics office said on Monday.



<h2 class="wp-block-heading" id="h-ethiopia-central-bank">ETHIOPIA CENTRAL BANK</h2>



Ethiopia&#8217;s central bank said on Monday that it would begin conducting foreign exchange auctions every two weeks to ensure stability on the country&#8217;s forex market.



<h2 class="wp-block-heading" id="h-uganda-electricity">UGANDA ELECTRICITY</h2>



Ugandan private power utility Umeme Limited said on Monday it had received $118 million in compensation from the government for unrecovered investments, following the expiration of its monopoly rights to distribute electricity in the country.



<h2 class="wp-block-heading" id="h-ivory-coast-cocoa">IVORY COAST COCOA</h2>



Cocoa arrivals at ports in top grower Ivory Coast had reached 1.441 million metric tons by March 30 since the start of the season on October 1, up 11.1% from the same period last season, exporters estimated on Monday. 



<h2 class="wp-block-heading" id="h-zimbabwe-politics">ZIMBABWE POLITICS</h2>



Police deployed heavily in Zimbabwe&#8217;s capital and other cities on Monday, largely neutralising a call by veterans for massive protests against plans to extend President Emmerson Mnangagwa&#8217;s rule.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on April 1

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="615" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Image-1-820x615.jpg" alt="" class="wp-image-602892" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Image-1-820x615.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Image-1-300x225.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Image-1-120x90.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Image-1-768x576.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Image-1-1536x1152.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/Image-1.jpg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



HE Nomatemba Tambo, daughter of apartheid activist and former ANC President, O.R. Tambo, is a prominent South African diplomat and politician who served as South Africa’s High Commissioner to the UK between&nbsp;2018-2022.



The first two months of Donald Trump’s presidency have caused <a href="https://www.economist.com/leaders/2025/03/12/trumps-erratic-policy-is-harming-the-reputation-of-american-assets">tumult</a> on the pages of international broadsheets, as commentators struggle to comprehend the structural transformation taking place in the global political order.



But in truth, the new rules of the game have been clear for many years now. We live in transactional world order, where developed nations seek economic and strategic self- interest in their dealings with the developing world.



Africa urgently needs partners that take a long-term view to the continent’s economic development. Over the last five years, the United Arab Emirates (UAE) has come to fill this role more than any other nation.



It was strangely underreported in African media, but in December of last year the UK’s <a href="https://www.theguardian.com/world/2024/dec/24/uae-becomes-africa-biggest-investor-amid-rights-concerns">Guardian</a> newspaper revealed that the UAE had become the largest investor in Africa.



Emirati companies announced $110 billion of projects between 2019 and 2023, outstripping traditional partners China, the United States and European Union. It’s not the volume of investment that’s remarkable, but rather the sectors targeted.



As the United States <a href="https://www.theguardian.com/us-news/2025/mar/12/trump-fossil-fuels-oil-and-gas">returns</a> to oil and gas and China remains <a href="https://www.politico.eu/article/eu-call-on-countries-china-fund-climate-action-cop29-united-nations-climate-conference/">reticent</a> to contributions to a global climate fund, the UAE has emerged as Africa’s most steadfast partner in financing the continent’s transition to the green energy future, with 65% of the $110 billion dollars pledged set to be invested in renewables.



As China scales back the Belt and Road Initiative on the continent amid its slowing economic growth and deepening debt crises in Africa, the UAE has forged forward with investment in critical infrastructure, currently operating or constructing 12 container ports across the continent through Emirati companies like DP World and Abu Dhabi Ports.



As uncertainty prevails over the liquidity of European financial markets, Dubai has emerged as the centre for African firms seeking business and financing. Meanwhile the number of African companies choosing to register in Dubai has <a href="https://www.wam.ae/en/details/1395303061066">grown</a> significantly in recent years.



The UAE’s role is not just limited to economic development. The country has taken an active role in the continent’s diplomacy in recent years, convening the fifth <a href="https://www.mofa.gov.ae/en/mediahub/news/2024/2/6/6-2-2024-uae-somalia">meeting</a> of the Somalia Quint in Abu Dhabi in February last year and jointly hosting a High-Level Humanitarian <a href="https://african.business/2025/02/apo-newsfeed/united-arab-emirates-uae-ethiopia-african-union-au-and-intergovernmental-authority-on-development-igad-hold-high-level-humanitarian-conference-for-the-people-of-sudan-in-addi">Conference</a> on Sudan in Addis Ababa in February.



The SAF’s <a href="https://news.sky.com/story/sudans-recaptured-palace-is-a-significant-sign-of-return-to-order-13333079">seizure</a> of Khartoum’s presidential palace last week underscores the importance of facilitating negotiations between the two parties in Sudan’s destructive conflict, which is already approaching its third year. And when negotiations are finally able to begin in earnest, Emirati financial muscle will be vital to Sudan’s reconstruction.



Africa’s pivot towards the UAE has been evident for years now, but many commentators are yet to catch up. And the structural pressures of current international politics are only likely to incentivise the disengagement of Africa’s historic economic partners from our continent.



Donald Trump has all but committed to an isolationist path, which threatens to undermine the continent’s economic and development ties with the United States. The 90-day freeze on foreign aid and current <a href="https://apnews.com/article/south-africa-ambassador-expelled-trump-rubio-dba7f4c25e5e91480a8429a53b86b8eb">tensions</a> with South Africa are being cautiously observed by African leaders looking to understand the future of US engagement.



Concerns too remain over China’s economic <a href="https://www.bbc.co.uk/news/articles/crr54x00857o">slowdown</a> and stubbornly <a href="https://edition.cnn.com/2025/03/10/economy/china-cpi-deflation-problems-intl-hnk/index.html">persistent</a> <a href="https://edition.cnn.com/2025/03/10/economy/china-cpi-deflation-problems-intl-hnk/index.html">deflation</a>. Political attention in Beijing is, regardless, being diverted to prospects of a fully blown trade war with the United States, leaving little room for China’s leaders to reignite its Africa policy.



The political debate in Europe is already dominated by confrontation with Russia, relegating the importance of engaging in Africa’s economic development to the bottom of the agenda. And the United Kingdom’s decision to <a href="https://www.theguardian.com/politics/2025/feb/25/starmer-planning-big-cuts-to-aid-budget-to-boost-defence-spending-say-sources">axe</a> its foreign aid budget in favour of defence spending is indicative of the calculations being made across European capitals.



Our transactional times will demand forward-thinking policymaking to safeguard our continent’s strategic interests. 



Africa’s priorities must remain those that have occupied its leaders for many a decade: reducing structures of economic dependency on foreign powers and laying the foundations for sustainable growth in the long-term by stimulating domestic production and investing in the continent’s infrastructure.



But the realities of geopolitics mean the nations that will partner with Africa towards this goal are not those that have long been familiar to us.



The UAE is now Africa’s primary development partner, and so it’s time our political debate reflected this.

Image (1)

Africa looks to the UAE for partnership in a transactional world order

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3334" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/CRTJOWDTJBK3HC6RND6KFRQUB4.avif" alt="" class="wp-image-604324"/><figcaption class="wp-element-caption">John Steenhuisen, leader of the opposition Democratic Alliance (DA) and Minister of Agriculture of South Africa, arrives at the Cape Town City Hall ahead of the State Of The Nation (SONA) address by South African president Cyril Ramaphosa in Cape Town, South Africa February 6, 2025. REUTERS/Nic Bothma/File Photo</figcaption></figure>



JOHANNESBURG, April 1 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s two biggest political parties, the African National Congress and the pro-business Democratic Alliance were yet to reach agreement to pass the budget on Tuesday, hours before a key parliamentary committee was set to debate it.



The budget has been the biggest test yet for the broad coalition government formed last year after the ANC, the former liberation movement of Nelson Mandela, lost its parliamentary majority for the first time since helping end apartheid in 1994.



Negotiations between the ANC and the Democratic Alliance have dragged on for weeks. The ANC needs the support of at least one other big party to pass the budget while the DA has sought more sway over policymaking.



&#8220;Last night, the ANC refused to finalise an agreement on growth and spending reforms, imperilling the (coalition),&#8221; Democratic Alliance party leader John Steenhuisen said on X. &#8220;The DA will oppose the budget unless and until a written agreement is reached.&#8221;



The ANC and DA are ideologically opposed on many issues, including education, land and health legislation, but have overcome occasional disputes to govern together so far.



ANC chief whip Mdumiseni Ntuli told local broadcaster Newzroom Afrika the party believed it had &#8220;sufficient consensus&#8221; to pass the first parliamentary hurdle for the budget, Tuesday&#8217;s meeting of the Standing Committee on Finance on the fiscal framework.



The lower house of parliament, the National Assembly, is due to consider the parliamentary committee&#8217;s recommendations and could vote on them on Wednesday.



The DA postponed a press conference it had called for 0630 GMT on Tuesday on the budget talks. ANC leader Cyril Ramaphosa and the DA&#8217;s Steenhuisen are expected to hold talks later on Tuesday.



The budget for the fiscal year starting on April 1 was meant to be presented in February but was postponed because of disagreements in the coalition over a plan to raise value-added tax by two percentage points.



Finance Minister Enoch Godongwana tabled a revised budget in March proposing a one-point VAT hike spread over two years, but it was swiftly rejected by most big parliamentary parties.



(Additional reporting by Sfundo Parakozov and Wendell Roelf; Writing by Alexander Winning; Editing by Clarence Fernandez and Bernadette Baum)

CRTJOWDTJBK3HC6RND6KFRQUB4

South Africa’s two biggest parties yet to reach pact on budget

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="625" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/6PRZMM657BJ2VERUVWBC5YWJKY-820x625.jpg" alt="" class="wp-image-604061" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/6PRZMM657BJ2VERUVWBC5YWJKY-820x625.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/6PRZMM657BJ2VERUVWBC5YWJKY-300x229.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/6PRZMM657BJ2VERUVWBC5YWJKY-118x90.jpg 118w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/6PRZMM657BJ2VERUVWBC5YWJKY-768x585.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/6PRZMM657BJ2VERUVWBC5YWJKY-1536x1170.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/6PRZMM657BJ2VERUVWBC5YWJKY-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Opposition Movement For Democratic Change (MDC) party leader Nelson Chamisa gestures while addressing the media in a news conference in Harare, Zimbabwe August 25, 2018. REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



HARARE, March 31 (Reuters)&nbsp;&#8211;&nbsp;Police deployed heavily in Zimbabwe&#8217;s capital and other cities on Monday, largely neutralising a call by veterans for massive protests against plans to extend President Emmerson Mnangagwa&#8217;s rule.



Zimbabwe&#8217;s ruling ZANU-PF party said in January it wanted to extend Mnangagwa&#8217;s term in office by two years until 2030. Mnangagwa, who first came to power in 2017 after his long-term mentor Robert Mugabe was ousted in a coup, is serving his final term.



Independence war veterans led by Blessed Geza previously supported Mnangagwa but have turned against him, accusing him of seeking to cling to power.



Anticipating possible unrest, businesses barricaded their premises and car dealerships cleared their showrooms over recent days.



Most businesses, schools and vendors across the capital Harare, as well as in the second largest city Bulawayo and other towns, stayed closed, as large numbers of police patrolled the empty streets.



&#8220;The situation in the country is peaceful,&#8221; police said in a statement, encouraging people to continue with daily activities.



Still, in the western outskirts of Harare police threw teargas to disperse a small group of protesters chanting &#8220;we reject 2030!&#8221;, a reference to the plans to extend Mnangagwa&#8217;s term.



Some political analysts said the economic shutdown could still send a message to political leaders.



&#8220;The stay-away is a massive statement by the masses of Zimbabwe. Those in power have reason to fear,&#8221; political analyst Ibbo Mandaza said.



Geza, the veteran leader who called for the protest and has mostly communicated through videos posted on social media platforms, did not react publicly on Monday morning.



The veterans remain influential within ZANU-PF, and appear to be filling a void left by opposition parties weakened by internal divisions and a war of attrition with the ruling party.



Mnangagwa has repeatedly denied intending to prolong his presidency, but the veterans accuse him of pursuing the plan using proxies.



Zimbabwe&#8217;s 2013 constitution limits presidents to two five-year terms.



(Reporting by Nelson Banya; Editing by Olivia Kumwenda-Mtambo and Aidan Lewis)

6PRZMM657BJ2VERUVWBC5YWJKY

Zimbabwe police deploy to block demonstrations against Mnangagwa

4f08e732-14dc-4b25-aebe-12ad36aed4c9_847x407

The problem of organizing weak states; and why Africa needs a new model of Pan-Africanism

How Apps Like Perplexity And Cursor Are Destroying The AI Wrapper Myth

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="493" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ZR2HBUGSQJNNBEOHF5Q6YHOMQQ-820x493.jpg" alt="" class="wp-image-603981" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ZR2HBUGSQJNNBEOHF5Q6YHOMQQ-820x493.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ZR2HBUGSQJNNBEOHF5Q6YHOMQQ-300x180.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ZR2HBUGSQJNNBEOHF5Q6YHOMQQ-150x90.jpg 150w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ZR2HBUGSQJNNBEOHF5Q6YHOMQQ-768x462.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ZR2HBUGSQJNNBEOHF5Q6YHOMQQ-1536x923.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/ZR2HBUGSQJNNBEOHF5Q6YHOMQQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><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 TPX IMAGES OF THE DAY/File Photo</figcaption></figure>



CAPE TOWN, March 31 (Reuters) &#8211; South African coal-fired power stations have received limited exemptions from air quality laws and harmful emissions reduction regulations, the environment minister said on Monday, but he added that the measures did not constitute a &#8220;blanket reprieve&#8221;.



The government is struggling to strike a balance between calls to reduce its carbon footprint and stop harmful emissions and the need to provide electricity to Africa&#8217;s most advanced economy, which has stagnated due to power cuts



Power utility Eskom, whose fleet of old coal-fired power plants generates most of South Africa&#8217;s electricity, had applied to exempt eight of its plants from minimum emission standards prescribed in air quality regulations.



In granting the exemptions, the Ministry of Forestry, Fisheries and Environment said it would require Eskom to step up monitoring, appoint environmental health specialists and provide mobile health clinics, among other measures.



&#8220;These exemptions are not a blanket reprieve but are tailored to each facility with stringent conditions,&#8221; environment minister Dion George told a press conference.



Six of the plants &#8211; Lethabo, Kendal, Tutuka, Majuba, Matimba and Medupi &#8211; will have exemptions capped at five years, expiring on April 1, 2030, while the Duvha and Matla power stations will be exempted until their planned decommissioning dates in 2034.



Eskom, one of the continent&#8217;s worst polluters, has been running its plants hard in an attempt to end a decade of economically devastating power cuts and clear a maintenance backlog amid regular breakdowns.



It has previously said that retrofitting its plants, many of them 30 to 40-years-old, with new technology to reduce harmful emissions is too costly.



Early this month a 10-year study found that people living near coal-fired power stations, mostly concentrated in Mpumalanga province&#8217;s coal belt, had a mortality rate 6% higher than their peers elsewhere in South Africa.



The report from the South African Medical Research Council and Britain&#8217;s Department for International Development found higher rates of birth defects and cardiovascular and lung disease in communities near plants. It recommended phasing out the coal-fired plants.



&#8220;We want enough electricity to grow our economy, and we want clean, breathable air,&#8221; George said. &#8220;It is completely unacceptable when our children have problems with their lungs, and babies are born with cleft palates.&#8221;

ZR2HBUGSQJNNBEOHF5Q6YHOMQQ

South Africa grants Eskom coal plants limited emissions exemptions

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4045" height="2697" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/6MSJZV4H5RNIDI4ITMOIPSV2ZE.avif" alt="" class="wp-image-603977"/><figcaption class="wp-element-caption">U.S. President Donald Trump walks to board Air Force One, as he departs for Florida, at Joint Base Andrews, Maryland, U.S., March 28, 2025. REUTERS/Kevin Lamarque/File Photo</figcaption></figure>



U.S. President Donald Trump said on Sunday that reciprocal tariffs he is set to announce this week will include all nations, not just a smaller group of 10 to 15 countries with the biggest trade imbalances.



Trump has promised to unveil a massive tariff plan on Wednesday, which he has dubbed “Liberation Day.” He has already imposed tariffs on aluminum, steel and autos, along with increased tariffs on all goods from China.



“You’d start with all countries,” he told reporters aboard Air Force One. “Essentially all of the countries that we’re talking about.”



White House economics adviser Kevin Hassett recently told Fox Business that the administration’s tariffs focus would be on 10 to 15 countries with the worst trade imbalances, though he did not list them.



Trump sees tariffs as a way of protecting the domestic economy from unfair global competition and a bargaining chip for better terms for the U.S.



However, concerns about a trade war are unsettling markets and creating fears of a recession in the U.S.



Trump has said he will impose a suite of reciprocal tariffs against nations that charge fees on U.S. exports, promising to match those countries’ duties.



In February, Trump signed a memorandum that directed U.S. trade officials to go country by country and put together a list of tailored counter-measures.



Last week, he suggested he might scale back his reciprocal plans, perhaps imposing tariffs in some cases at lower rates than countries charge the United States.

6MSJZV4H5RNIDI4ITMOIPSV2ZE

Trump says reciprocal tariffs will target all countries

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING.jpg" alt="" class="wp-image-524644" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UGANDA-SHILLING-768x512.jpg 768w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Uganda shillings. Uganda. (Photo by: Godong/Universal Images Group via Getty Images)</figcaption></figure>



KAMPALA, March 31 (Reuters) &#8211; The Ugandan shilling was flat on Monday on the back of scant demand for dollars from all sectors of the economy, traders said.



At 0955 GMT, commercial banks quoted the shilling at 3,655/3,665, the same level as Friday&#8217;s close.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

UGANDA SHILLING

Ugandan shilling flat on scant dollar demand

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="507" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-820x507.jpg" alt="" class="wp-image-533970" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-820x507.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-300x186.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-145x90.jpg 145w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-768x475.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-1536x950.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/RAND-DOLLAR-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African bank notes featuring images of former South African President Nelson Mandela (R) are displayed next to the American dollar notes in this photo illustration in Johannesburg August 13 2014. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, March 31 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand strengthened on Monday, as gold hit a fresh high and optimism grew over the prospect of an agreement between the two biggest government partners on the budget.



At 0728 GMT, the rand traded at 18.2375 against the dollar, about 1.1% stronger than its previous close.



Trade in the rand was volatile last week amid deadlocked budget negotiations and apprehension over U.S. President Donald Trump&#8217;s tariff plans.



Gold prices touched an all-time high on Monday as investors stressing over a global trade war and economic slowdown from the world&#8217;s biggest economy turned towards the safe-haven asset. South Africa is a major producer of the precious metal.



The domestic focus this week will be on the African National Congress (ANC) and Democratic Alliance (DA).



Local news website News24 reported on Monday that the two parties were close to striking a deal that would see the national budget being passed. However, the BusinessDay newspaper said the talks were still deadlocked.



On the stock market, the Top-40 index was last down about 0.5%.



South Africa&#8217;s benchmark 2030 government bond was stronger in early deals, with the yield down 9.5 basis points to 9.06%.



(Reporting by Sfundo Parakozov; Editing by Bhargav Acharya and Philippa Fletcher)

Photo illustration of South African bank notes displayed next to the American dollar notes in Johannesburg

South African rand strengthens as gold hits fresh peak

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



NAIROBI, March 31 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.



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



World share markets were in a tailspin on Monday after U.S. President Donald Trump said tariffs would essentially cover all countries, stoking worries a global trade war could lead to recession.



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



Oil markets on Monday shrugged off U.S. President Donald Trump&#8217;s threat to hit buyers of Russian oil with tariffs as the shock value of the barrage of threats from the White House begins to wear thin with jaded traders.



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



South Africa&#8217;s rand slipped on Friday, as concerns lingered over U.S. President Donald Trump&#8217;s tariffs and an impasse between the ruling coalition&#8217;s two biggest parties over the state budget.



<h2 class="wp-block-heading" id="h-nigeria-crude-oil">NIGERIA CRUDE OIL</h2>



Exports of four key Nigerian crude oil grades will average around 727,000 barrels per day in May, preliminary programmes seen by Reuters showed, down from a planned 802,000 bpd scheduled to load in April.



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



The Kenyan shilling firmed slightly against the dollar on Friday, data from the London Stock Exchange Group (LSEG) showed.



<h2 class="wp-block-heading" id="h-uganda-petroleum-refinery">UGANDA PETROLEUM REFINERY</h2>



Uganda on Saturday signed an oil refinery agreement with UAE-based Alpha MBM Investments for a 60% stake in crude oil refinery in Kabaale, Hoima District, President Yoweri Museveni&#8217;s office said in a statement.



<h2 class="wp-block-heading" id="h-south-sudan-security">SOUTH SUDAN SECURITY</h2>



South Sudan&#8217;s First Vice President Riek Machar is under arrest and will be investigated on charges of trying to stir up rebellion, the government said on Friday, the first confirmation of a detention that world powers fear could reignite civil war.



<h2 class="wp-block-heading" id="h-somalia-u-s-diplomacy">SOMALIA U.S. DIPLOMACY</h2>



Somalia is prepared to offer the United States exclusive control of strategic air bases and ports, its president said in a letter to President Donald Trump seen by Reuters on Friday.



<h2 class="wp-block-heading" id="h-ghana-security">GHANA SECURITY</h2>



Three Chinese nationals were missing from Ghanaian waters and believed to have been kidnapped after a &#8220;suspected pirate attack&#8221; on their Ghanaian-registered fishing vessel, the West African nation&#8217;s military said on Saturday.



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



Qatari mediators hosted a second round of talks on Friday between Democratic Republic of Congo and Rwanda, and separately met representatives of the Rwandan-backed rebellion waging an insurgency in eastern Congo, four sources told Reuters.



((Compiled by Nairobi Newsroom))

African Markets – Factors to watch on March 31

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108123167-17431962612025-03-28t210936z_334592772_rc2jmdagkv1j_rtrmadp_0_usa-stocks-820x462.png" alt="" class="wp-image-603920" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108123167-17431962612025-03-28t210936z_334592772_rc2jmdagkv1j_rtrmadp_0_usa-stocks-820x462.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108123167-17431962612025-03-28t210936z_334592772_rc2jmdagkv1j_rtrmadp_0_usa-stocks-300x169.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108123167-17431962612025-03-28t210936z_334592772_rc2jmdagkv1j_rtrmadp_0_usa-stocks-160x90.png 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108123167-17431962612025-03-28t210936z_334592772_rc2jmdagkv1j_rtrmadp_0_usa-stocks-768x432.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108123167-17431962612025-03-28t210936z_334592772_rc2jmdagkv1j_rtrmadp_0_usa-stocks.png 1480w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A trader works on the floor at the New York Stock Exchange in New York City, U.S., March 28, 2025. </figcaption></figure>



Global markets and U.S. stock futures fell early Monday as traders looked ahead to “Liberation Day” for clarity on President Donald Trump’s tariff plans. 



Futures tied to the Dow Jones Industrial Average fell by 145 points, or 0.35%. S&amp;P 500 futures and Nasdaq 100 futures dipped 0.64% and 1.18%, respectively.



A slew of tariffs set to be enacted by the Trump administration will go into effect on Wednesday — what Trump has called “Liberation Day” — including a 25% levy on “all cars that are not made in the United States.” The president is also expected to announce his plan for reciprocal tariffs.



Uncertainty surrounding tariffs has been an overhang on equities, dragging stocks lower again on Friday to end the last full trading week of March. Trump did little to assuage fears over the weekend, with The Wall Street Journal reporting Sunday that the president had in recent days pushed his advisors to get more aggressive when it comes to tariffs. In a Saturday interview with NBC News, Trump said that he “couldn’t care less” if foreign automakers raise their prices due to these new tariffs.



On Wednesday, it is hoped investors will gain some clarity on which trading partners will be affected by the new duties, and by how much, wrote Emmanuel Cau, equity strategist at Barclays.



“Tariff risk has been well telegraphed and is largely priced in corners of the market. So liberation day may not be a complete shocker. However, no one wins from trade war, and clouds are gathering over the global growth outlook,” Cau wrote in a Friday note. “Negotiations will likely start after April 2, which leads to an extended period of uncertainty about the final scope, level and timing of tariffs.”



Against this backdrop of mounting trade and economic concerns, the three major averages are all on pace to end the month lower. The S&amp;P 500 is down 6.3% for the month, while the Dow Jones Industrial Average is poised for a 5.2% loss. The tech-heavy Nasdaq Composite has tanked 8.1%.



Investors will also be looking forward to a heavy slate of economic data this week, most notably the March jobs report, which will be released at 8:30 a.m. ET on Friday, April 4.

108123167-17431962612025-03-28t210936z_334592772_rc2jmdagkv1j_rtrmadp_0_usa-stocks

Stock futures slip as a jittery Wall Street awaits ‘Liberation Day’: Live updates

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="562" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/01/FTDTXBVVGNK4ROM6N5ELSNCWHI-820x562.jpg" alt="" class="wp-image-451375" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/01/FTDTXBVVGNK4ROM6N5ELSNCWHI-820x562.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/FTDTXBVVGNK4ROM6N5ELSNCWHI-300x206.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/FTDTXBVVGNK4ROM6N5ELSNCWHI-131x90.jpg 131w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/FTDTXBVVGNK4ROM6N5ELSNCWHI-768x526.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/FTDTXBVVGNK4ROM6N5ELSNCWHI-1536x1053.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/FTDTXBVVGNK4ROM6N5ELSNCWHI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The Economic Community of West African States (ECOWAS) court signage and logo is pictured in Abuja, Nigeria February 16, 2022. REUTERS/Afolabi Sotunde</figcaption></figure>



ATHENS, March 30 (Reuters)&nbsp;&#8211;&nbsp;West African neighbours Mali, Burkina Faso and Niger have announced a new 0.5% levy on imported goods as they seek to fund a new three-state union after leaving the larger regional economic bloc, they said in a statement.



The Alliance of Sahel States began in 2023 as a security pact between the military rulers of the three countries, who all took power in coups in recent years. It has since grown into an aspiring economic union with plans for biometric passports and closer economic and military ties.



The levy was agreed on Friday and will take effect immediately. It will affect all goods imported from outside the three countries, but will not include humanitarian aid, the statement said. It will &#8220;finance the activities&#8221; of the bloc, it said, without giving details.



The move ends free trade across West Africa, whose states have for decades fallen under the umbrella of the Economic Community of West African States (ECOWAS), and highlights the rift between the three states that border the Sahara Desert and influential democracies like Nigeria and Ghana to the south.



The juntas of the three countries announced plans to leave ECOWAS last year, accusing the bloc of failing to assist in their fight against Islamist insurgents and ending insecurity.



ECOWAS had imposed economic, political and financial sanctions on the three in a bid to force them to return to constitutional order, to little effect.



Mali, Burkina Faso and Niger are some of the poorest countries in the world and have been overrun by an armed Islamist insurgency over the past decade.



The violence, committed by groups linked to al Qaeda and Islamic State, has killed thousands, forced millions to flee, and eroded faith in the democratically-elected governments who initially struggled to contain it.



(Reporting by Boureima Balima and Fadimata Kontao; Writing by Edward McAllister; Editing by Sharon Singleton)

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West African juntas impose levy on imported goods

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South African manufacturing conditions still depressed, Absa PMI shows

Standard Bank almost doubles sustainable finance commitments to R450 billion

South African rand slips as budget negotiations drag on

African Markets – Factors to watch on April 1

Africa looks to the UAE for partnership in a transactional world order

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Zimbabwe police deploy to block demonstrations against Mnangagwa

The problem of organizing weak states; and why Africa needs a new model of Pan-Africanism

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South Africa grants Eskom coal plants limited emissions exemptions

Trump says reciprocal tariffs will target all countries

Ugandan shilling flat on scant dollar demand

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Stock futures slip as a jittery Wall Street awaits ‘Liberation Day’: Live updates

West African juntas impose levy on imported goods

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