<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3333" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/V6NUKK56AFOQRIE7VW57VUR2DU.avif" alt="" class="wp-image-609645"/><figcaption class="wp-element-caption">Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2025. REUTERS/Brendan McDermid/File Photo</figcaption></figure>



LONDON, April 15 (Reuters)&nbsp;&#8211;&nbsp;Global investors have slashed their holdings of U.S. stocks by a record amount in the past two months, a trend that is likely to continue given a record number of managers say they plan to keep cutting their exposure, BofA Global Research said on Tuesday.



Respondents to BofA&#8217;s monthly survey of fund managers were a net 36% underweight U.S. equities, the most in nearly two years, a number that has plunged by 53 percentage points since February, the biggest such fall on their records.



A majority think a trade war that triggers global recession is the biggest risk for markets, according to the survey.



U.S. President Donald Trump&#8217;s aggressive tariff plans have sparked a selloff in U.S. assets, including stocks, the dollar and Treasury bonds. The market rebounded on Monday, but the broad-market S&amp;P 500 index is still down about 8% so far this year.



BofA polled 164 investors with $386 billion of assets under management.



There were further signs of nervousness in the survey, particularly about U.S assets.



A net 42% of investors said they expected a global recession, the most since June 2023 and the fourth-highest level in the past 20 years.



In addition, 73% said they thought the theme of &#8220;U.S. exceptionalism&#8221; has peaked &#8211; the idea has powered markets in recent months &#8211; and relatedly 49% said they thought the most crowded trade in markets was now &#8220;long gold&#8221;, displacing bets on U.S. tech giants for the first time in 24 months.



A net 61% expect the U.S. dollar to depreciate over the next 12 months, the most since May 2006. The currency has tumbled sharply against most others in the past few weeks, with the euro, Japanese yen and Swiss franc all gaining sharply.



(Reporting by Alun John; Editing by Amanda Cooper and Hugh Lawson)

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Global investors dump US stocks at record pace, BofA survey says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-820x547.jpg" alt="" class="wp-image-505638" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, April 15 (Reuters)&nbsp;&#8211;&nbsp;The South African rand extended gains in early trade on Tuesday, bolstered by bets that the country&#8217;s coalition government will remain intact despite disagreements over the budget.



At 0725 GMT the rand traded at 18.84 against the U.S. dollar, about 0.4% firmer on the day.



The rand fell to a record low last Wednesday on risk aversion over U.S. President Donald Trump&#8217;s trade war and concerns that South Africa&#8217;s national unity government could split.



But it has recovered sharply since, helped by signs that the coalition partners are trying to resolve the budget impasse and a Sunday news report that the biggest political party, the African National Congress, may back down on a plan to raise value-added tax, the budget&#8217;s most contentious element.



&#8220;News doing the rounds that the ANC may backtrack on their VAT increase as support from the other smaller parties is waning has &#8230; helped the local unit to better levels,&#8221; Rand Merchant Bank analysts said.



Analysts cautioned that Trump&#8217;s changing tariff plans were likely to be a source of ongoing volatility. But they said the rand&#8217;s recovery could have further to run if local political headlines stay positive.



South Africa&#8217;s benchmark 2030 government bond was marginally stronger in early deals, as the yield fell 2 basis points to 9.195%.



(Reporting by Tannur Anders; Editing by Alexander Winning and Ros Russell)

South African Rand Rebound Snaps Streak of Weekly Losses

South African rand recovers further on bets coalition will hold

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/107241090-1684160036619-gettyimages-1255019394-AFP_33F44YL-820x547.jpeg" alt="" class="wp-image-425198" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/107241090-1684160036619-gettyimages-1255019394-AFP_33F44YL-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/107241090-1684160036619-gettyimages-1255019394-AFP_33F44YL-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/107241090-1684160036619-gettyimages-1255019394-AFP_33F44YL-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/107241090-1684160036619-gettyimages-1255019394-AFP_33F44YL-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/107241090-1684160036619-gettyimages-1255019394-AFP_33F44YL-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/107241090-1684160036619-gettyimages-1255019394-AFP_33F44YL-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Elon Musk is the wealthiest person in the world again.
Michel Euler | AFP | Getty Images</figcaption></figure>



MASERU, (Reuters) &#8211; Lesotho has granted a licence to Elon Musk&#8217;s Starlink to operate a satellite network and provide satellite internet services, the country&#8217;s communications authority said on Monday.



The licence granted to Starlink Lesotho will be valid for 10 years, Lesotho Communications Authority (LCA) said in a statement.



The development comes as Lesotho seeks to engage with the United States on reciprocal trade tariffs after it was hit with a 50% tariff- the highest levy on U.S. President Donald Trump&#8217;s list of target economies announced earlier this month but later said would temporarily be lowered.



The LCA said the &#8220;landmark decision&#8221; to grant a licence to Starlink marked &#8220;a significant step forward in the country&#8217;s digital transformation&#8221; and that it underscored &#8220;the authority&#8217;s unwavering commitment to enabling a competitive, transparent, and forward-looking communications sector that fuels economic growth and fosters innovation.&#8221;



Trump on March 5, in an address to the U.S. Congress referred to Lesotho as a country &#8220;no one has heard of&#8221; to laughs from his audience. Lesotho&#8217;s foreign minister, Lejone Mpotjoane, later said the remark was &#8220;quite insulting&#8221;.



Starlink, whose parent company is SpaceX, submitted its licence application in April 2024 but it faced opposition including from civil society groups such as SECTION 2.



&#8220;By proceeding with this decision, the LCA has not only disregarded the valid objections of local stakeholders but has also compromised the integrity and credibility of the regulatory process,&#8221; said SECTION 2 coordinator Kananelo Boloetse.



&#8220;Chief among these (objections) was the fact that Starlink Lesotho is 100% foreign-owned, a factor that should have weighed heavily in a licensing process that ought to safeguard national interests and promote inclusive local participation.&#8221;



Starlink operates in many African countries, but has faced licensing obstacles in places like South Africa and Namibia.



(Reporting by Marafaele Mohloboli; Writing by Olivia Kumwenda-Mtambo; Editing by Susan Fenton)

107241090-1684160036619-gettyimages-1255019394-AFP_33F44YL

Lesotho grants operating licence to Musk’s Starlink

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3321" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5VNK2O52JZOARFRKCDAQ4WIGEU.avif" alt="" class="wp-image-609376"/><figcaption class="wp-element-caption">A small toy figure and gold imitation are seen in front of the Gold Fields logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration/File Photo</figcaption></figure>



April 14 (Reuters) &#8211; South Africa&#8217;s Gold Fields said on Monday it is winding down operations at its Damang mine in Ghana after the government rejected an application to extend the lease.



The Johannesburg-based miner has been weighing selling its smaller operations &#8211; including Damang and the Cerro Corona mine in Peru, which has less than five years left on its lifespan &#8211; as it focuses on its newly commissioned Salares Norte mine in Chile and the Windfall project in Canada.



Gold Fields was only processing stockpiles at Damang after ceasing mining operations in 2023 although the company had committed to exit the operation in an orderly way as part of its end-of-life plan.



The company said in a statement it had unsuccessfully applied to extend the Damang lease, which is due to expire on April 18.



&#8220;The government has instructed Gold Fields to cease operations and vacate the lease area by the 18th April on expiry of the lease,&#8221; Gold Fields said.



The company was &#8220;preparing to safely and responsibly cease operations and ensure the safety and security of our people and high-risk operations,&#8221; it added.



Damang is the smaller of Gold Fields&#8217; two mines in Ghana after Tarkwa, the biggest open pit gold mine in the country. Damang produced 135,000 ounces of gold in 2024, about 6% of the group&#8217;s total output of 2.15 million ounces.



(Reporting by Nelson Banya; Editing by Susan Fenton)

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Gold Fields ends ops at Ghana’s Damang mine after govt rejects lease renewal

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="3788" height="2479" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/QF6LDDNUPJJ4RBWGOZMZII2Q2A.avif" alt="" class="wp-image-609327"/><figcaption class="wp-element-caption">Former Deputy Finance Minister Mcebisi Jonas gestures ahead of the Judicial Commission of Inquiry probing state capture in Johannesburg, South Africa August 24, 2018. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, April 14 (Reuters)&nbsp;&#8211;&nbsp;South African President Cyril Ramaphosa on Monday announced former deputy&nbsp;finance minister&nbsp;Mcebisi Jonas as a special envoy to the United States.



Jonas is currently independent non-executive chairman of telecommunications company MTN Group, a role he will continue to hold alongside the envoy position.



&#8220;Jonas is entrusted with the responsibility to advance South Africa&#8217;s diplomatic, trade and bilateral priorities. He will lead negotiations, foster strategic partnerships and engage with U.S. government officials and private-sector leaders to promote our nation&#8217;s interests,&#8221; Ramaphosa&#8217;s office said in a statement.



Relations between South Africa and the U.S. have soured badly since U.S. President Donald Trump&#8217;s return to the White House in January.



The U.S. has cut financial aid to South Africa, citing disapproval of its land reform policies and its genocide case against Washington&#8217;s ally Israel at the International Court of Justice, and expelled South Africa&#8217;s ambassador last month.



Jonas was South Africa&#8217;s deputy finance minister between 2014 and 2017.



An outspoken critic of corruption during his time in government, he featured prominently in a judicial inquiry into graft and influence-peddling during former president Jacob Zuma&#8217;s leadership.



Jonas told the inquiry he was offered the finance minister job as well as large sums of money by the Gupta brothers, friends of Zuma. Zuma and the Guptas denied wrongdoing.



(Reporting by Bhargav Acharya and Tannur Anders; Editing by Alexander Winning)

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South African president names Jonas special envoy to US

<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 14 (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>



Wall Street share futures rallied in Asia on Monday after the White House exempted smartphones and computers from &#8220;reciprocal&#8221; U.S. tariffs, though gains were limited as President Donald Trump warned levies were still likely at some point.



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



Oil prices fell on Monday on concerns the escalating trade war between the United States and China would weaken global economic growth and dent fuel demand.



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



The South African rand gained ground against a weaker dollar on Friday, but analysts said it remained susceptible to twists in the global trade war and the risk that South Africa&#8217;s coalition government might split.



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



The Kenyan shilling weakened slightly on Friday as foreign exchange demand rose in response to uncertainty over U.S. President Donald Trump&#8217;s tariffs, traders said.



<h2 class="wp-block-heading" id="h-kenya-highway-construction">KENYA HIGHWAY CONSTRUCTION</h2>



Kenya will terminate a 1.3-billion euro highway expansion deal with a consortium led by France&#8217;s Vinci SA with the project expected to go to a Chinese contractor instead, government officials and sources said.



<h2 class="wp-block-heading" id="h-gabon-election">GABON ELECTION</h2>



Brice Oligui Nguema, who led a coup in Gabon in August 2023, won Saturday&#8217;s presidential election with 90.35% of votes cast, according to provisional results, the Central African country&#8217;s interior minister said on Sunday.



<h2 class="wp-block-heading" id="h-tanzania-politics">TANZANIA POLITICS</h2>



Tanzania&#8217;s main opposition party CHADEMA has been disqualified from elections due later this year, a senior election commission official said on Saturday, days after the party&#8217;s leader was charged with treason for allegedly seeking to disrupt the vote.



<h2 class="wp-block-heading" id="h-nigeria-pension">NIGERIA PENSION</h2>



Nigeria&#8217;s pension fund regulator wants to diversify investments with more focus on infrastructure and private equity, a spokesperson said on Friday, a move that could unlock a major new source of capital in Africa&#8217;s most populous nation.



<h2 class="wp-block-heading" id="h-zambia-electricity">ZAMBIA ELECTRICITY</h2>



Zambia will resume construction of a power line linking it to East Africa, creating one of the largest energy markets in the world, a senior World Bank official said on Friday.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on April 14

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="573" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-820x573.jpg" alt="" class="wp-image-609274" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-820x573.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-129x90.jpg 129w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-768x537.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-1536x1074.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African President Cyril Ramaphosa answers lawmakers&#8217; questions at the parliament in Cape Town, South Africa, March 11, 2025. REUTERS/Esa Alexander South African President Cyril Ramaphosa answers lawmakers&#8217; questions at the parliament in Cape Town, South Africa, March 11, 2025. REUTERS/Esa Alexander</figcaption></figure>



JOHANNESBURG, April 14 (Reuters)&nbsp;&#8211;&nbsp;For South African beverage company owner, Ndumiso Madlala, the impending value-added tax hike could spell trouble for his small-scale business that makes alcoholic ginger beer and non-alcoholic drinks.



The National Treasury plans to raise VAT by 1-percentage-point over two years from May 1, as part of measures to bolster government revenue. Currently, VAT is set at 15%.



For Madlala, the increase could force him to raise prices or lower margins, both undesirable options for a business like his in a tough economic environment.



&#8220;For us as small guys, you first hit a problem of being competitive on price,&#8221; Madlala told Reuters. &#8220;Big companies can just switch prices at any time, they can reduce their price to drive the volume up. For us, that&#8217;s something that we can&#8217;t do.&#8221;



The VAT increase comes as the South African economy faces several headwinds including a slow recovery following years of unstable electricity supply, domestic political tensions and global trade wars.



Until recently, power cuts had been a drag on South Africa&#8217;s economic growth for more than a decade, escalating costs for businesses as they resorted to alternative energy sources like diesel-run generators.



On top of that, businesses and households are grappling with other rising costs, such as increases in electricity and water tariffs.



While the treasury intends to expand the basket of zero-rated VAT items to shield low-income households from the full impact, some economists argue this may not be enough as the wider population &#8211; including the middle class &#8211; feels the pinch of rising costs.



&#8220;VAT (hikes) are never a good idea… the ones that are going to be hard hit by any increases in VAT are the middle class to the poor,&#8221; said economist Nomahlubi Jakuja.



&#8220;South Africa already has high levels of unemployment&#8230; and then adding an additional tax on daily goods, it decreases the purchasing power of ordinary South Africans,&#8221; she added.



The VAT hike, part of revenue measures in the 2025 budget, has also deepened the schism between the African National Congress and the Democratic Alliance &#8211; partners in government &#8211; threatening to sink South Africa&#8217;s first attempt at coalition rule in its 30-year democratic era.



The pro-business DA, the junior partner in the coalition, voted against the budget and went to court to try to block it.



Despite the uncertainty, Madlala remains optimistic, banking on his business&#8217;s reputation and his popular ginger products.



&#8220;My comfort is the brand that I own, which is Dragonfire Ginger. It&#8217;s one of its kind,&#8221; he said. &#8220;So we find that our loyal base of customers comes back for our products all the time.&#8221;



(Additional reporting by Shafiek Tassiem in Cape Town; Editing by Olivia Kumwenda-Mtambo and Ros Russell)

South African President Cyril Ramaphosa answers lawmakers’ questions at the parliament, in Cape Town

South African businesses on edge as VAT hike looms

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg" alt="" class="wp-image-568119" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, File. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, April 14 (Reuters)&nbsp;&#8211;&nbsp;The South African rand strengthened on Monday, boosted by a news report that the country&#8217;s biggest political party may back down on a plan to raise value-added tax (VAT) and dollar weakness on global markets.



At 0845 GMT, the rand traded at 18.9150 against the dollar, about 1.2% firmer than Friday&#8217;s closing level.



The Sunday Times newspaper reported that the African National Congress (ANC) was likely to drop its insistence on a VAT hike in this year&#8217;s budget after indications that none of the parties it has been talking to would support it.



The ANC has clashed with its main coalition partner, the Democratic Alliance (DA) over the budget&#8217;s proposal to raise VAT by 0.5 percentage points on May 1 and another 0.5 points next year.



The pro-business DA voted against the budget&#8217;s fiscal framework in parliament and is challenging the VAT hike in court, raising investor concern it could quit or be forced from the coalition Government of National Unity (GNU).



Andre Cilliers, currency strategist at TreasuryONE, said scrapping the VAT increase would keep the GNU intact and that prospect was supporting the rand.



The ANC and DA met on Saturday to discuss the impasse. Neither party gave a detailed readout of their talks, but both described them as constructive.



The rand was volatile last week on U.S. President Donald Trump&#8217;s changing tariff policies and local political news.



Trump&#8217;s tariffs have escalated tensions between the U.S. and China, South Africa&#8217;s biggest trading partner.



The dollar last traded down about 0.4% against a basket of currencies.



&#8220;The markets were spooked and confused last week. This is set to continue this week,&#8221; said Adam Phillips, treasury specialist at Umkhulu Treasury.



Shares on the Johannesburg Stock Exchange&#8217;s blue-chip Top-40 index also rose on Monday, trading about 1.6% up.



South Africa&#8217;s benchmark 2030 government bond gained, as the yield fell 9 basis points to 9.215%.



(Reporting by Tannur Anders; Editing by Alexander Winning and Bernadette Baum)

rand2 (1)

South Africa’s rand gains on report ANC may scrap VAT hike

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3035" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/CXYS7WC5YRPUPNY2HNXRUOQOYQ.avif" alt="" class="wp-image-582750"/><figcaption class="wp-element-caption">An aerial view shows the skyline of downtown in Nairobi, Kenya October 8, 2024. Picture taken on October 8, 2024. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, April 11 (Reuters) &#8211; Kenya will terminate a 1.3-billion euro highway expansion deal with a consortium led by France&#8217;s Vinci SA with the project expected to go to a Chinese contractor instead, government officials and sources said.



The deal to turn 140 km (87 miles) of single-lane road into a multilane highway linking the capital Nairobi to the Rift Valley city of Nakuru was signed in Paris in 2020 during a visit by then-President Uhuru Kenyatta.



Kenya&#8217;s decision to end the contract comes after government authorities had sought to revisit the terms of the agreement, which the Kenya National Highways Authority (KeNHA) said put the risk from insufficient traffic demand onto the government.



&#8220;KeNHA requested a restructuring of the contract&#8230; but the proposal was considered unbankable thus creating a stalemate,&#8221; the agency told Reuters.



This led to KeNHA issuing a notice of termination to end the public-private partnership contract, it said.



Highway construction for the project had not yet begun.



French private equity group Meridiam SAS and Vinci Concessions &#8211; also a part of the French infrastructure group &#8211; are members of the consortium that is led by Vinci Highways.



Vinci declined to comment on the contract&#8217;s termination. Meridiam did not immediately respond to a request for comment.



Meanwhile, two sources with direct knowledge of the government&#8217;s plan said the contract would be going to a Chinese company, which has not yet been disclosed.



The sources asked not to be named as they were not authorised to speak to media.



Kenya&#8217;s Finance Minister John Mbadi led a team of officials to Beijing this month, where they met senior officials. Domestic media have reported that President William Ruto will be heading to China for a state visit later this month.



(Reporting by Duncan Miriri; Additional reporting by Liz Lee in Beijing; Editing by Karin Strohecker and Joe Bavier)

CXYS7WC5YRPUPNY2HNXRUOQOYQ

Kenya pivots to China, away from France for 1.3-billion euro highway deal

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-820x547.jpg" alt="" class="wp-image-564339" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The World Bank Group headquarters during the spring meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Thursday, April 13, 2023. The IMF trimmed its global-growth projections, warning of high uncertainty and risks as financial-sector stress adds to pressures emanating from tighter monetary policy. Photographer: Samuel Corum/Bloomberg via Getty Images</figcaption></figure>



LUSAKA, April 11 (Reuters)&nbsp;&#8211;&nbsp;Zambia will resume construction of a power line linking it to East Africa, creating one of the largest energy markets in the world, a senior World Bank official said on Friday.



Work on the Zambia–Tanzania Interconnector Project is set to resume this month, with estimated completion in 2028, Achim Fock, country manager for Zambia at the World Bank, said on Friday during a signing ceremony.



The $320 million project to connect Zambia and Tanzania&#8217;s power supplies is being financed by the World Bank, the European Union and Britain.



The cost of the remaining work is $298 million, of which a World Bank grant will cover $245 million, Acting Finance Minister Chipoka Mulenga said, at the same event.



The project was first floated more than a decade ago but has been stalled for various reasons, most recently due to COVID-19 as well as concerns over Zambia&#8217;s debt default in late 2020.



Zambia struck a deal with bondholders last year and is seen as a test case for a debt rework under the Common Framework, a G20 platform to bring together big creditors like China and the group of established creditor nations known as the Paris Club.



Fock said an integrated market connecting the Southern and East African power pools would help lower electricity costs and increase energy security, and create new opportunities for trade and investment in the power sector across Africa.



(Reporting by Chris Mfula; Editing by Tannur Anders and Rachna Uppal)

Spring Meetings Of The International Monetary Fund And World Bank

Zambia to resume work on power line link to Tanzania, World Bank official says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="466" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/TPOGIITDYZID5PWPHKLOH2IPDI.avif" alt="" class="wp-image-605310"/><figcaption class="wp-element-caption">South African Rand coins are seen in this illustration picture taken November 5, 2020. REUTERS/Mike Hutchings/Illustration/File Photo</figcaption></figure>



JOHANNESBURG, April 11 (Reuters)&nbsp;&#8211;&nbsp;The South African rand gained ground against a weaker dollar on Friday, but analysts said it remained susceptible to twists in the global trade war and the risk that South Africa&#8217;s coalition government might split.



At 1230 GMT the rand was trading at 19.2025 against the dollar, about 1.3% stronger than Thursday&#8217;s closing level.



Ithas been highly volatile this week, falling to a record low against the dollar on Wednesday before staging a sharp relief rally after U.S. President Donald Trump announced a 90-day pause in higher tariff rates on dozens of trading partners including South Africa.



China increased its tariffs on U.S. imports to 125% on Friday, raising the stakes in a confrontation between the world&#8217;s two largest economies that threatens to upend global supply chains.



The dollar was last trading more than 0.7% weaker against a basket of currencies, helping currencies such as the rand to recover.



Analysts said the rand would&nbsp;also&nbsp;continue to&nbsp;move on news about the&nbsp;future of&nbsp;South Africa&#8217;s generally business-friendly Government of National Unity.



The two biggest parties in the coalition, the African National Congress (ANC) and the pro-business Democratic Alliance (DA), clashed over the budget last week, with the DA voting against it in parliament and challenging it in court.



Isaac Matshego, an economist at Nedbank, said markets were worried about the direction of economic policy if the coalition collapses.



&#8220;A shift towards more populist policies if the ANC partners with the leftist parties in a new GNU would hurt confidence and put the rand under renewed pressure,&#8221; he said.



The ANC and DA are due to meet on Saturday to discuss the budget impasse.



On the Johannesburg Stock Exchange, the blue-chip Top 40 index was up about 0.2%, after a 4.5% rally on Thursday.



The benchmark 2030 government bond was marginally weaker, as the yield rose 2.5 basis points to 9.265%.



(Reporting by Tannur Anders and Sfundo Parakozov;Graphic by Tannur Anders;Editing by Alexander Winning, Gareth Jones and Kevin Liffey)

TPOGIITDYZID5PWPHKLOH2IPDI

South African rand recovers against weaker dollar but risks remain

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="747" height="467" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/stock-market.jpg" alt="" class="wp-image-401907" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/stock-market.jpg 747w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/stock-market-300x188.jpg 300w" sizes="auto, (max-width: 747px) 100vw, 747px" /><figcaption class="wp-element-caption">Trading board is showing a crash in stock exchange market. Selective focus. Horizontal composition with copy space.</figcaption></figure>



April 11 (Reuters)&nbsp;&#8211;&nbsp;Most emerging markets stock indexes were set for weekly declines on Friday after asset classes were thrown into disarray by wavering U.S. trade policies, while a tariff standoff between China and Washington escalated.



Beijing increased its tariffs on U.S. imports to 125% on Friday in response to U.S. President Donald Trump&#8217;s decision to hike duties on Chinese goods to 145%, raising the stakes in a trade war that threatens to upend global supply chains.



The offshore yuan slipped 0.1% and was last trading at 7.3 to the dollar &#8211; not far from a record low it hit earlier in the week.



Analysts expect that growth in the world&#8217;s second largest economy could slow in the first quarter, ramping up expectations of fresh stimulus.



Currencies such as the Indian rupee and South African rand ZA pared initial gains, while the Hungarian forint and the Polish zloty depreciated about 1% each against the euro.



Benchmark stock indexes in India and South Africa also cut gains, while Turkish stocks slipped 0.4% and bourses in Hungary and the Czech Republic fell over 1.7% each.



Chinese equity benchmarks had closed higher by about 0.4% before Beijing&#8217;s retaliation, aided by potential state support. The gains of the heavyweight Chinese stocks helped the broader MSCI EM stocks index register a 1.7% rise.



However, the MSCI index was on track for losses for the third straight week and faced its steepest three-week drop since August 2023. Trump&#8217;s 90-day pause on some U.S. levies on world economies took effect&nbsp;in mid-week&nbsp;as he said that multiple countries were looking to negotiate trade deals with the U.S.



His fluctuating trade policies have stirred uncertainty about global assets that saw even traditional safe-haven U.S. Treasury bonds incur sharp declines as investors priced in the likelihood of a global recession.



Analysts also suggested that a weakening of the dollar against the Swiss franc and Japanese yen indicated deteriorating confidence in the U.S. economy.



Markets were watching for any signs that global economies were successfully signing new trade deals during the 90-day pause issued by Trump.



&#8220;Nobody knows exactly what the deals with the various countries will look like, how many countries are really willing to make a deal, and within what period of the 90 days this will happen,&#8221; Commerzbank FX analyst Volkmar Baur said in a note.



&#8220;This is not an environment in which I, as a business decision-maker, would want to plan my supply chains for the future.&#8221;



Vietnam&#8217;s main stock index closed 4.6% higher and the dong inched up 0.2%. A report said the Southeast Asian country, which is heavily dependent on export income, is prepared to crack down on Chinese goods being shipped to the United States via its territory.



Taiwan was looking to negotiate an increase in energy imports from the U.S., while Brazil and Argentina were among the latest looking to engage in trade discussions with Washington.



Investors were also monitoring developments around the International Monetary Fund&#8217;s discussions about a fourth review of its $2.9 billion program with Sri Lanka.



The island nation&#8217;s dollar bonds were down over two cents on the dollar and on track for a weekly drop of 13.9% &#8211; their biggest weekly slide in two months.



Papers of frontier economies have witnessed sharp swings throughout the week as markets priced in an increasing likelihood of widespread debt defaults against an uncertain global backdrop.



(Reporting by Johann M Cherian in Bengaluru; editing by Mark Heinrich)

Trading Board Is Showing A Crash In Stok Exchange Market

EMERGING MARKETS-Stocks set for weekly declines as US-China trade war

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4-820x547.jpg" alt="" class="wp-image-608265" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A cargo ship sits outside of the Port of Elizabeth marine terminal seen from Bayonne, New Jersey, U.S., April 9 2025. REUTERS/Shannon Stapleton/File Photo</figcaption></figure>



GENEVA, April 11 (Reuters) &#8211; Sweeping tariffs on imports imposed by U.S. President Donald Trump and countermeasures could have a &#8220;catastrophic&#8221; impact on developing countries, hitting even harder than foreign aid cuts, the director of the United Nations trade agency said on Friday.



Global trade could shrink by 3-7% and global gross domestic product by 0.7%, with developing countries the worst affected, the International Trade Centre said.



&#8220;It is huge,&#8221; Pamela Coke-Hamilton, executive director of the International Trade Centre, told Reuters. &#8220;If this escalation between China and the U.S. continues it will result in an 80% reduction in trade between the countries, and the ripple effect of that across the board can be catastrophic.&#8221;



Global markets remained in turmoil on Friday. Trump this week announced a 90-day tariff pause on dozens of countries but hiked the duties on Chinese goods to an effective rate of 145%. On Friday, Beijing increased its tariffs on U.S. imports to 125% in a trade war that threatens to up-end global supply chains.



&#8220;Tariffs could have a much more harmful impact than the removal of foreign aid,&#8221; Coke-Hamilton said, warning that developing economies risk sliding back on the economic gains they made in recent years.



Some of the world&#8217;s least developed countries, including Lesotho, Cambodia, Laos, Madagascar and Myanmar, may look to improve regional trade relations to absorb the loss of some of the U.S. market for their exports, the ITC&nbsp;said.



Bangladesh, the world’s second largest apparel exporter, could lose $3.3 billion in annual exports to the U.S. by 2029 if the U.S. tariff of 37% stays after the pause, ITC data found. It may look to European markets as an alternative as they still hold growth potential, Coke-Hamilton suggested.



The projections by the International Trade Centre, the joint agency of the World Trade Organization and the United Nations, which seeks to help countries develop through exports, are based on data it gathered before Trump&#8217;s 90-day pause and subsequent hikes on duties on Chinese imports.



(Reporting by Olivia Le Poidevin; Editing by Friederike Heine, Ludwig Burger and Frances Kerry)

5KGMLDAKZZPMZBFLD6IPJ2HQA4

Impact of tariffs on developing countries could be ‘catastrophic’, says UN trade agency

<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>



April 11 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.



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



Global stocks slumped and the dollar sank further on Friday, while a manic bond selloff took hold in a brutal end to the week of tit-for-tat worldwide tariffs that have fed fears of a deep recession and shaken investor confidence in U.S. assets.



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



Oil prices fell on Friday and were set to drop for a second week on concerns prolonged trade war between the United States and China, the world&#8217;s largest economies, will crush crude consumption as their dispute curtails economic growth.



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



The Nigerian and Ghanaian currencies are expected to be broadly stable in the next week to Thursday thanks to central bank support, while the Ugandan and Zambian currencies could fall, traders said.



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



South Africa&#8217;s rand stumbled on Thursday on global market jitters while stocks jumped, as investors digested U.S. President Donald Trump&#8217;s announcement of an immediate 90-day tariff pause for many countries.



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



Kenya&#8217;s shilling gained ground against the dollar on Thursday, after U.S. President Donald Trump&#8217;s unexpected decision to temporarily suspend most of his recently imposed tariffs, traders said.



<h2 class="wp-block-heading" id="h-sudan-genocide">SUDAN GENOCIDE</h2>



Sudan told the International Court of Justice on Thursday that the United Arab Emirates was violating the Genocide Convention by supporting paramilitary forces in Darfur, but the UAE argued the case should be thrown out as the court lacked jurisdiction.



<h2 class="wp-block-heading" id="h-us-aid">US AID</h2>



President Donald Trump&#8217;s administration wants the U.N. World Food Programme to modify operations backed by the U.S. in six countries, a State Department spokesperson said on Wednesday, after Washington terminated and then reinstated the assistance.



<h2 class="wp-block-heading" id="h-tanzania-politics">TANZANIA POLITICS</h2>



Tanzanian opposition party leader Tundu Lissu was on Thursday charged with treason, a capital offence, for comments he made last week that prosecutors said called on the public to launch a rebellion and disrupt an election due this year.



((Compiled by Nairobi Newsroom))

African Markets – Factors to watch on April 11

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4092" height="2493" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/Z7OUSBHECZMJVEHQT7G2AZVSQU-1.avif" alt="" class="wp-image-593738"/><figcaption class="wp-element-caption">South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration/File Photo</figcaption></figure>



JOHANNESBURG, April 11 (Reuters)&nbsp;&#8211;&nbsp;The rand gained in early trade on Friday, making a cautious recovery after this week&#8217;s global tariff turmoil, but worries lingered over U.S. President Donald Trump&#8217;s next trade move and over whether South Africa&#8217;s coalition government might split.



At 0720 GMT the rand traded at 19.3675 against the dollar, roughly 0.5% stronger than Thursday&#8217;s closing level.



The risk-sensitive currency has been highly volatile this week.



It fell steeply on Monday and Tuesday and hit a record low against the dollar on Wednesday, before staging a sharp relief rally after Trump announced a 90-day pause in higher tariff rates on dozens of trading partners including South Africa.



Analysts said the rand would continue to move on global developments in Trump&#8217;s tariff war, as well as local headlines on the future of the market-friendly coalition government.



The two biggest parties in the coalition, the African National Congress (ANC) and the pro-business Democratic Alliance (DA), clashed over the budget last week, with the DA voting against it in parliament and challenging it in court.



The ANC and DA are due to meet on Saturday to discuss the budget impasse.



The benchmark 2030 government bond was marginally weaker in early deals, as the yield rose 1 basis point to 9.25%.



(Reporting by Sfundo Parakozov; Editing by Alexander Winning and Gareth Jones)

Z7OUSBHECZMJVEHQT7G2AZVSQU (1)

South African rand stages cautious recovery, tariff and coalition worries linger

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="4987" height="3325" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/AVUKD6NDQRNW5H4WASP4IO5AFM.avif" alt="" class="wp-image-608214"/><figcaption class="wp-element-caption">Chinese Commerce Minister Wang Wentao attends a meeting with global business leaders at the Great Hall of the People in Beijing, China, March 28, 2025. REUTERS/Florence Lo/File Photo</figcaption></figure>



BEIJING, April 11 (Reuters)&nbsp;&#8211;&nbsp;China&#8217;s Commerce Minister Wang Wentao had discussions with his Saudi Arabian and South African counterparts to exchange views on responding to the United States&#8217; &#8220;reciprocal tariffs&#8221;, the Chinese ministry said on Friday.



The conversations took place over separate video calls on Thursday in which China discussed strengthening bilateral economic and trade cooperation with Saudi Arabia and South Africa.



Wang also spoke to Saudi Arabia&#8217;s Commerce Minister Majid bin Abdullah al-Qasabi about enhancing cooperation with countries within the Gulf Cooperation Council, while G20 and BRICS&#8217; roles were brought up in his conversation with South Africa&#8217;s Parks Tau.



The Chinese commerce ministry&#8217;s statements did not elaborate on the discussions.



(Reporting by Liz Lee, Yukun Zhang and Shanghai newsroom; Editing by Jacqueline Wong)

AVUKD6NDQRNW5H4WASP4IO5AFM

China speaks with Saudi Arabia, South Africa about response to US tariffs

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="593" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-820x593.jpg" alt="" class="wp-image-607969" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-820x593.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-300x217.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-124x90.jpg 124w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-768x556.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-1536x1111.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause</figcaption></figure>



JOHANNESBURG, April 10 (Reuters)&nbsp;&#8211;&nbsp;Pressure from U.S. aid freezes and global trade tension is unlikely to result in widescale credit downgrades in Africa, Fitch Ratings said on Thursday.



The impact of tariffs on Africa is limited, Fitch said, due to the region&#8217;s export composition and weaker integration into global supply chains compared to a region such as Asia.



But Sub-Saharan Africa has been one of the largest recipients of funds disbursed by the United States Agency for International Development (USAID) which was frozen by executive order of U.S. President Donald Trump.



Nonetheless, South Africa, Namibia and Ivory Coast remain relatively shielded from recent events, Paul Gamble, head of Middle East/Africa in Fitch’s Sovereign Ratings Group, said.



And Nigeria and the Seychelles both hold positive credit outlooks from Fitch Ratings &#8211; an indication that a rating is expected to be raised in the future &#8211; thanks to ongoing reforms, he told a webinar.



&#8220;The reforms that we&#8217;ve seen really put the region in a better position to absorb some of these shocks,&#8221; Gamble.



&#8220;The impact for the ratings looks manageable.&#8221;



However, the freeze on U.S. foreign aid was not without negative consequences, Fitch said.



Some of the poorest nations were at risk for having projects come to an abrupt end and would see fiscal stability come under pressure. Ethiopia received U.S. assistance worth around 80% of its foreign exchange reserves, with Mozambique, Uganda, and Lesotho also seen at risk.



&#8220;African-owned multilateral banks might become more important institutions in this shifting landscape,&#8221; Arnaud Louis, senior director at Fitch, said on the webinar.



Gamble also pointed to Washington&#8217;s pivot to strategic investments in minerals in Africa as potentially becoming a new sphere for the trade tensions as it could intensify competition on the continent with China.



&#8220;Africa will be a playing field for U.S.-China tensions,&#8221; said Gamble. The U.S. interest is becoming &#8220;more opportunistic, transactional&#8221; focusing on access to minerals and rare earths rather than broad-based development, he said.



The Trump administration has said it wants to invest billions of dollars in the Democratic Republic of Congo. Congo&#8217;s minerals, which are used in mobile phones and electric cars, are currently dominated by China and its mining companies.



(Reporting by Colleen Goko; Editing by Alison Williams)

Reuters

Global investors dump US stocks at record pace, BofA survey says

South African rand recovers further on bets coalition will hold

Lesotho grants operating licence to Musk’s Starlink

Gold Fields ends ops at Ghana’s Damang mine after govt rejects lease renewal

South African president names Jonas special envoy to US

African Markets – Factors to watch on April 14

South African businesses on edge as VAT hike looms

South Africa’s rand gains on report ANC may scrap VAT hike

Kenya pivots to China, away from France for 1.3-billion euro highway deal

Zambia to resume work on power line link to Tanzania, World Bank official says

South African rand recovers against weaker dollar but risks remain

EMERGING MARKETS-Stocks set for weekly declines as US-China trade war

Impact of tariffs on developing countries could be ‘catastrophic’, says UN trade agency

African Markets – Factors to watch on April 11

South African rand stages cautious recovery, tariff and coalition worries linger

China speaks with Saudi Arabia, South Africa about response to US tariffs

African credit ratings can absorb aid cuts and trade strains, Fitch says

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Reuters

Global investors dump US stocks at record pace, BofA survey says

South African rand recovers further on bets coalition will hold

Lesotho grants operating licence to Musk’s Starlink

Gold Fields ends ops at Ghana’s Damang mine after govt rejects lease renewal

South African president names Jonas special envoy to US

African Markets – Factors to watch on April 14

South African businesses on edge as VAT hike looms

South Africa’s rand gains on report ANC may scrap VAT hike

Kenya pivots to China, away from France for 1.3-billion euro highway deal

Zambia to resume work on power line link to Tanzania, World Bank official says

South African rand recovers against weaker dollar but risks remain

EMERGING MARKETS-Stocks set for weekly declines as US-China trade war

Impact of tariffs on developing countries could be ‘catastrophic’, says UN trade agency

African Markets – Factors to watch on April 11

South African rand stages cautious recovery, tariff and coalition worries linger

China speaks with Saudi Arabia, South Africa about response to US tariffs

African credit ratings can absorb aid cuts and trade strains, Fitch says

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