News
Namibia budget forecasts slightly higher growth and narrower deficit
1+ hour, 56+ min ago (191+ words) WINDHOEK, Feb 26 (Reuters)Namibia's economic growth is forecast to pick up slightly this year and the budget deficit will narrow, its finance minister said in a budget speech on Thursday. The resource-rich South African country's public finances havetaken a hitfrom…...
Botswana's main interest rate on hold, with inflation in target range
5+ hour, 56+ min ago (191+ words) GABORONE, Feb 26 (Reuters)Botswana's central bank kept its monetary policy rate unchanged on Thursday, saying inflation was projected to stay within its target range as a depressed global diamond market continues to weigh on the economy. It was the second…...
Senegal finance minister says "fundamental differences" remain in IMF talks
2+ day, 7+ hour ago (149+ words) DAKAR, Feb 24 (Reuters)Fundamental differences" remain between Senegal and the International Monetary Fund in talks for a new lending programme, the country's finance minister Cheikh Diba told lawmakers on Tuesday. The West African nation is seeking a new lending programme…...
Nigeria central bank opts for small rate cut to restart easing cycle
2+ day, 9+ hour ago (249+ words) ABUJA, Feb 24 (Reuters)Nigeria's central bank delivered a smaller-than-expected 50 basis point interest rate cut on Tuesday, saying risks to the outlook were balanced and it expected inflation to slow further. The decision took the Central Bank of Nigeria's Monetary Policy…...
Mozambique set to receive $6 billion in World Bank financing over five years
3+ day, 2+ hour ago (205+ words) MAPUTO, Feb 23 (Reuters)The World Bank is aiming to provide Mozambique with $6 billion of mostly concessional financingfor its public investment projects overthe next five years, asenior bank official saidon Monday. "We have a balance sheet of around $3 billion on the…...
Offshore investors buy South African stocks and bonds
1+ week, 3+ day ago (109+ words) Offshore investors buy South African stocks and bonds'CNBC Africa Offshore investors buy South African stocks and bonds JOHANNESBURG, Feb 16 (Reuters) " Offshore investors bought a net 5.87 billion rand ($367.88 million) of South African stocks last week, Johannesburg Stock Exchange data showed on…...
Kenya central bank cuts its benchmark rate for the 10th straight
2+ week, 1+ day ago (290+ words) NAIROBI, Feb 10 (Reuters)Kenya's central bank on Tuesdayreduced its benchmarklending rateKECBIR=ECIits Monetary Policy Committee (MPC) said, marking the 10th straight rate cut to encourage lending in the private sector. The bank cut the rate to 8.75% from 9.00% previously and said the…...
South African rand starts week firmer as gold rebounds
2+ week, 3+ day ago (231+ words) JOHANNESBURG, Feb 9 (Reuters)The South African rand began the new week firmer in early trade on Monday, boosted mainly by stronger yellow precious metal prices. At 0638 GMT, the rand traded at 15.97 against the dollar, roughly up 0.5% on Friday's close. "Gold…...
South African central bank chief economist takes early retirement
3+ week, 6+ day ago (155+ words) JOHANNESBURG, Jan 30 (Reuters)The South African central bank's chief economist Christopher Loewald, a Monetary Policy Committee (MPC) member, is taking early retirement effective from March 1 this year, the bank said on Friday. Loewald joined the central bank in 2011 after 13 years…...
Mozambique central bank trims policy rate but says end of easing cycle is near
4+ week, 22+ hour ago (187+ words) MAPUTO, Jan 28 (Reuters)Mozambique's central bank cut its policy rate by 25 basis points to 9.25% on Wednesday, its 13th cut in a row, but it said the end of its easing cycle was near because of risks including severe floods in the…...