Major South African miner set to double headline earnings – but still make a loss
Sibanye-Stillwater expects its headline earnings to grow by over 100%, yet the miner will still report a loss for the first half of its 2025 financial year.
Economy
'Our children are dying': Rare footage shows plight of civilians in besieged Sudan city
The women at the community kitchen in the besieged Sudanese city of el-Fasher are sitting in huddles of desperation.
Read MoreNigeria approves $2.6 billion electricity sector debt refinancing plan
Nigeria has approved a phased plan to refinance 4 trillion naira ($2.61 billion) in electricity sector debt to help stabilise the nation’s ailing power industry and improve supply, its finance minister said.
Read MoreNigeria’s Tinubu targets 7% economic growth by 2027
Nigerian President Bola Tinubu on Wednesday set a target of 7% annual economic growth by 2027, aiming to lift millions out of poverty and expand the economy to four times its current size by 2030.
Read MoreSouth African court rescinds TotalEnergies oil exploration permit
A South African court has rescinded an environmental authorisation granted to TotalEnergies and its joint venture partner Shell to explore for oil in a block off the Cape coast, a court judgment seen by Reuters showed.
Read MoreUnemployment in South Africa jumps past 33% as jobs crisis deepens
The latest Quarterly Labour Force Survey (QLFS) from Stats SA shows that South Africa’s unemployment rate has increased again, jumping to 33.2% in Q2.
Read MoreKenyan lender KCB Group reports 7% rise in first-half pretax profit
NAIROBI, Aug 13 (Reuters) – Kenyan lender KCB Group’s first-half pretax profit rose 7%, helped by higher interest income, the bank said on Wednesday.
Read MoreSouth African rand extends gains after business confidence, retail sales data
The South African rand extended its gains on Wednesday, boosted by a weaker dollar after the release of a domestic business confidence index and retail sales figures.
Read MoreAfrican Markets – Factors to watch on Aug 11
The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
Read MorePan-African lender Ecobank optimistic about second half, CEO says
Pan-African lender Ecobank is “optimistic” about the prospects for its second half performance, its chief executive said, as long as there are no further U.S. tariffs or other global shocks.
Read MoreMore sun needed to boost Ivory Coast cocoa main crop, farmers say
More sunny spells across most of Ivory Coast’s cocoa-growing regions will help to boost development of the next October-to-March main crop, farmers said on Monday, adding that cold weather continued last week with below-average rainfall.
Read MoreAfrican Development Bank to lead efforts to raise $7.8 bln for new Ethiopian airport
The African Development Bank will take the lead in helping to raise $7.8 billion for a new airport in Ethiopia, the bank said.
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