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The latest Africa articles on Moneyweb.

Currency weakness, higher oil prices hit African economies, PMIs show

5 Oct 2023 /  Monique Vanek, Bloomberg
Crude surged past $90 a barrel last month for the first time in almost a year after OPEC+ leaders Saudi Arabia and Russia extended oil supply curbs of more than 1m barrels a day to the end of the year.

Lango partners with RMB to offer sustainability-linked finance

4 Oct 2023 /  Akhona Matshoba
With Standard Bank as joint financier of $325m loan package.
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Looking for lions

2 Oct 2023 /  Cathy Buckle
When it's light enough, we go looking for lions; the bush is thick, the grass tall.

Chocolate could get even pricier if Africa’s cocoa crop flops

30 Sep 2023 /  Mumbi Gitau and Baudelaire Mieu, Bloomberg
For now, how West Africa’s harvest fares will be the key driver of cocoa prices.

Sale of luxury villas starts in new Zimbabwean city for the rich

29 Sep 2023 /  Ray Ndlovu, Bloomberg
Buyers of the villas are expected to pay an up-front commitment fee of 5% and a 25% down-payment within a month.

Naira sinks to 1 000 per dollar in Nigeria as MPs vet bank chief

26 Sep 2023 /  Emele Onu, Bloomberg
The parallel-market rate is now about 29% weaker than the official exchange rate of 773.78 per dollar.

Nigeria finance minister blames Naira’s dive on overdue payments

22 Sep 2023 /  Henry Meyer and Ezra Fieser, Bloomberg
'The issue we have now is that the market is not liquid enough,' Edun said.

Nigeria delays rate decision after overhaul of central bank

21 Sep 2023 /  Anthony Osae-Brown, Bloomberg
Yields on Nigerian dollar debt across the maturity curve fell on Thursday, with the notes due in 2038 dropping 0.8 cent on the dollar to 72.92 cents.
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Russia pushing to join African anti-dirty money body as observer

19 Sep 2023 /  Alberto Nardelli and David Herbling, Bloomberg
The Kremlin’s financial monitoring unit, Rosfinmonitoring, confirmed in a statement provided by email that Russia applied to join the ESAAMLG as an observer.
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Nigeria seeks to deepen economic ties with South Africa

19 Sep 2023 /  Felix Onuah, Reuters
'We can collaborate in a mutually beneficial way that enriches our populations,' Tinubu said.

Zambia, China agree to increase use of local currency in trade

15 Sep 2023 /  Matthew Hill and Taonga Mitimingi, Bloomberg
The measure will reduce currency exchange costs and exchange rate risks, the two leaders said.

African central banks set to hold rates as currency risks weigh

15 Sep 2023 /  Monique Vanek, Bloomberg
The flurry of decisions from the monetary authorities will likely see South Africa, Egypt, Morocco and Ghana keep rates steady.

Once in a century quake deals blow to north Africa’s bright spot

11 Sep 2023 /  Souhail Karam, Bloomberg
There’s been no estimate yet of the total damage caused by the deadliest quake to strike Morocco since 1960.

Walking to the edge in Zimbabwe’s election

11 Sep 2023 /  Cathy Buckle
So many people took so many risks as they walked to the edge in Zim’s election but now stand alone, and the fallout continues.

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