
<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>



<p>NAIROBI, March 18 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.</p>



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



<p>Hong Kong shares rose to three-year highs and led Asian markets higher on Tuesday, as investors turn positive on the outlook for the world&#8217;s second-biggest economy and cheered recent data and promises to further support consumption.</p>



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



<p>Oil prices were little changed in early trading on Tuesday as global growth concerns, U.S. tariffs and Russia-Ukraine ceasefire talks offset increased instability in the Middle East that could impact supply.</p>



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



<p>The rand firmed on Monday against a weaker dollar, as market participants appeared to shrug off the United States&#8217; decision late last week to expel South Africa&#8217;s ambassador in yet another sign of the two countries&#8217; rapidly souring relations.</p>



<h2 class="wp-block-heading" id="h-nigeria-inflation">NIGERIA INFLATION</h2>



<p>Nigeria&#8217;s annual headline inflation eased to 23.18% in February, the country&#8217;s statistics agency said on Monday, a month after it rebased its Consumer Price Index to reflect changes in consumption patterns.</p>



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



<p>Kenya&#8217;s shilling weakened slightly on Monday, and was expected to ease further due to slowing dollar inflows, especially from non-governmental organisations, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-imf">KENYA IMF</h2>



<p>Kenya and the International Monetary Fund (IMF) will discuss a new lending programme and abandon the current one, as the country struggles to get its economy back on track after a borrowing spree led to a surge in debt-servicing costs.</p>



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



<p>Rwanda-backed M23 rebels on Monday pulled out of peace talks with the Democratic Republic of Congo&#8217;s government less than 24 hours before the warring parties in eastern Congo&#8217;s worst conflict in decades were due to convene in Angola.</p>



<p>((Compiled by Nairobi Newsroom))</p>


World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on March 18


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108079590-1735015291166-2013-06-05T000000Z_881151141_GM1E9660G3H01_RTRMADP_3_MINT-COIN-820x461.jpg" alt="" class="wp-image-597345" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108079590-1735015291166-2013-06-05T000000Z_881151141_GM1E9660G3H01_RTRMADP_3_MINT-COIN-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108079590-1735015291166-2013-06-05T000000Z_881151141_GM1E9660G3H01_RTRMADP_3_MINT-COIN-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108079590-1735015291166-2013-06-05T000000Z_881151141_GM1E9660G3H01_RTRMADP_3_MINT-COIN-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108079590-1735015291166-2013-06-05T000000Z_881151141_GM1E9660G3H01_RTRMADP_3_MINT-COIN-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108079590-1735015291166-2013-06-05T000000Z_881151141_GM1E9660G3H01_RTRMADP_3_MINT-COIN-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/108079590-1735015291166-2013-06-05T000000Z_881151141_GM1E9660G3H01_RTRMADP_3_MINT-COIN.jpg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">“In 2024, global gold demand surged to a new quarterly high and a record annual total bolstered by heightened geopolitical and economic uncertainties,” said Shaokai Fan, global head of central banks at the World Gold Council. Shannon Stapleton | Reuters</figcaption></figure>



<p>Gold pierced through the psychological milestone of $3,000 an ounce on Friday for the first time, building on an historic rally as trade tensions and U.S. rate cut bets supercharge its appeal as a safe store of value.</p>



<p>Spot gold was up 0.3% at $2,997.75 an ounce after hitting a record high of $3,004.86. U.S. gold futures were up 0.6% to $3,009.10.</p>



<p>Gold, traditionally viewed as a safe haven investment during times of inflation or economic volatility, has risen over 14% so far this year, driven in part by concerns over the impact of U.S. President Donald Trump’s tariffs and the recent selloff in stock markets. The global trade war that has roiled financial markets and raised recession fears is escalating, with Trump on Thursday threatening to slap a 200% tariff on alcohol imports from Europe.</p>



<p>“Amid escalating geopolitical tensions, rising trade tariffs, and growing financial market uncertainty, investors are increasingly seeking stability – and they are finding it in gold,” said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. “For now, strong physical demand and safe-haven buying suggest that gold’s upward momentum is not yet exhausted.”</p>



<p>A combination of strong central bank purchases, sound investment demand as well as bets on monetary policy easing by the U.S. Federal Reserve, have also bolstered zero-yield bullion’s performance this year.</p>



<p>The Fed is widely expected to keep its benchmark overnight interest rate unchanged at its meeting on Wednesday.</p>



<p>“Overall we maintain our $3,300 call for the year,” said Ole Hansen, head of commodity strategy at Saxo Bank, adding a close above $3,000 on Friday can signal a continuation of the rally next week.</p>



<p>ANZ in a note forecast gold to hit $3,050 in 2025.</p>


108079590-1735015291166-2013-06-05T000000Z_881151141_GM1E9660G3H01_RTRMADP_3_MINT-COIN

Safe-haven gold rises above $3,000 for the first time


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2500" height="1667" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/77DOL2U5WBPOVPEGVY2MPSWI3I.avif" alt="" class="wp-image-596535"/><figcaption class="wp-element-caption">Nigerian naira banknotes are seen in this picture illustration, September 10, 2018. REUTERS/Afolabi Sotunde/Illustration/File photo</figcaption></figure>



<p>NAIROBI, March 12 (Reuters)&nbsp;&#8211;&nbsp;A pan-African payments infrastructure provider designed to facilitate trade on the continent is piloting an African currency market platform to boost commerce across borders in the region, its chief executive said.</p>



<p>The Pan-African Payments and Settlement System (PAPSS), backed by 15 central banks on the continent, expects to add the platform later this year to complement its payments infrastructure that it says is currently integrated with 150 commercial banks.</p>



<p>&#8220;The rates will be market driven, and our system is able to do a matching based on the rates offered by the different participants in our ecosystem,&#8221; Mike Ogbalu, the CEO of PAPSS, told Reuters in an interview from Cairo.</p>



<p>Africa&#8217;s foreign exchange markets are often shallow and liquidity is limited, with South Africa and Nigeria dominating geographically and much of the wider trading centred around local and hard currency pairs. Those seeking other African currencies must typically secure dollars first.</p>



<p>However, the region has also seen some major currency reforms with countries such as Nigeria, Egypt and Ethiopia pushing ahead with efforts to move to more market-based regimes.</p>



<p>The Africa Currency Marketplace, as the platform will be known, will allow parties to exchange local currencies directly, Ogbalu said.</p>



<p>He cited the example of an Ethiopian airline selling naira-denominated tickets in Nigeria, which could then exchange its naira revenue with a Nigerian company trading in Ethiopia using the birr.</p>



<p>&#8220;Our system will intelligently match them and then party A will get Naira in Nigeria and party B will get birr in Ethiopia. The transaction just completes without any third-party currency being involved at all,&#8221; Ogbalu said.</p>



<p>There have been frequent case of companies not being able to repatriate their revenue from other countries in the region, whenever violence or economic problems cause dollar shortages in markets like South Sudan or the Central African Republic.</p>



<p>Companies operating in the region have been forced to take a writedown every financial year to account for currency revaluations in markets with volatile currencies, Ogbalu said.</p>



<p>Others have invested in assets like real estate to try to preserve the value of their assets in such markets.</p>



<p>There have been attempts to use cryptocurrencies like Bitcoin to get around that problem but their usage is still low, partly due to lack of legal frameworks to support their use in markets like Kenya.</p>



<p>&#8220;Those are some of the things we think that this African currency marketplace will unlock,&#8221; he said, saying it would be &#8220;transformational&#8221; without giving details on expected size or trading volumes.</p>



<p>(Reporting by Duncan Miriri and Karin Strohecker; Editing by Christina Fincher)</p>


77DOL2U5WBPOVPEGVY2MPSWI3I

African payments system PAPSS plans to launch FX market platform this year


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="459" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4DD3KSJUWZJVRLWSLRI4HQBDVE-820x459.jpg" alt="" class="wp-image-595637" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4DD3KSJUWZJVRLWSLRI4HQBDVE-820x459.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4DD3KSJUWZJVRLWSLRI4HQBDVE-300x168.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4DD3KSJUWZJVRLWSLRI4HQBDVE-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4DD3KSJUWZJVRLWSLRI4HQBDVE-768x430.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4DD3KSJUWZJVRLWSLRI4HQBDVE-1536x859.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/4DD3KSJUWZJVRLWSLRI4HQBDVE-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A logo of the World Food Program is seen at their headquarters after the WFP won the 2020 Nobel Peace Prize, in Rome, Italy October 9, 2020. REUTERS/Remo Casilli/File Photo</figcaption></figure>



<p>DAKAR, March 7 (Reuters)&nbsp;&#8211;&nbsp;The United Nations World Food Programme said on Friday it would halt food and nutrition assistance to more than 2 million people in Nigeria and the Central Sahel region next month without urgent funding to bridge shortfalls.</p>



<p>The U.N. food agency (WFP) said in a statement it required $620 million to continue supporting refugees in Chad and Mali and food-insecure people in Burkina Faso, Mali, Niger and Nigeria.</p>



<p>&#8220;The global shrinkage of foreign aid is posing a significant threat to our operations in Western Africa,&#8221; said WFP Regional Director Margot van der Velden.</p>



<p>The funding squeeze comes as the lean season &#8211; the period in between harvests when hunger peaks &#8211; is expected to hit earlier than usual across West Africa&#8217;s Sahel region south of the Sahara.</p>



<p>&#8220;With millions expected to face emergency levels of hunger at the peak of the lean season, the world must step up support to prevent this situation from getting out of control.&#8221;</p>



<p>Conflict, displacement, economic crises, and climate shocks such as devastating floods last year are driving a hunger crisis in West Africa.</p>



<p>An estimated 52.7 million women, men, and children are projected to experience acute hunger between June and August 2025, the WFP said. These include refugees in Chad, Mali, and Mauritania, of which around 700,000 are Sudanese refugees.</p>



<p>The proportion of the population facing extreme hunger in West and Central Africa is also projected to rise over 20% by June 2025.</p>



<p>The WFP receives half of its funding from the United States, which has been reviewing and cutting foreign aid programs.</p>



<p>The statement did not specify whether the lack of funding was linked to the U.S. It said West and Central Africa remained &#8220;chronically underfunded&#8221;.</p>



<p>(Reporting by Ayen Deng Bior; Editing by Sofia Christensen)</p>


FILE PHOTO: World Food Program wins the 2020 Nobel Peace Prize

WFP calls for urgent funding to prevent food aid halt in West, Central Africa


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="564" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/GettyImages-1241299894-820x564.jpg" alt="" class="wp-image-595588" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/03/GettyImages-1241299894-820x564.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/GettyImages-1241299894-300x206.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/GettyImages-1241299894-131x90.jpg 131w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/GettyImages-1241299894-768x528.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/GettyImages-1241299894-1536x1057.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/03/GettyImages-1241299894-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Samaila Zubair, Chairman &amp; CEO of the Africa Finance Corporation, speaks during a session Climate change adaptation: Finding appealing business models  at the CEO Forum in Abidjan, Ivory Coast on Monday, June 13, 2022.</figcaption></figure>



<p>LONDON, March 10 (Reuters)&nbsp;&#8211;&nbsp;The African Finance Corporation said it is accelerating efforts to mobilise the continent&#8217;s own money for investments, and tapping investors in the Middle East and Asia, as developing nations grapple with seismic shifts in geopolitics and funding flows.</p>



<p>Samaila Zubairu, chief executive of the AFC &#8211; a development finance institution owned by Nigeria&#8217;s central bank and other African financial institutions &#8211; said in an interview the lender is ready to weather a world in which the United States and Europe cut financial aid and turn increasingly inward.</p>



<p>&#8220;The only thing we want &#8230; to change, is to get domestic capital more available for investment within the continent,&#8221; Zubairu said.</p>



<p>&#8220;We would accelerate our initiatives to mobilize domestic capital from African pension funds, African institutional investors, to invest domestically,&#8221; he said, adding that in the long term, some $15-$20 billion could come from domestic pension funds.</p>



<p>U.S. President Donald Trump&#8217;s America First agenda, and cuts in U.S. aid money, could drain billions from projects in Africa. European countries are also slashing aid funding, with Britain redirecting much of it to boost defence spending.</p>



<p>Africa&#8217;s low savings rates and shallow markets have stymied efforts to mobilise local pools of cash.</p>



<p>Zubairu said the AFC, which deploys $2.5-$3 billion each year, would scale up fund allocation &#8220;prudently&#8221; by choosing projects other backers could pile into.</p>



<p>It launched the pilot project InfraCredit to support pension fund investments in much-needed infrastructure projects, with</p>



<p>oil-rich Nigeria&#8217;s sovereign wealth fund providing guarantees on local currency debt.</p>



<p>The project has mobilised some 230 billion naira ($152 million), including investments from 21 pension funds, which previously invested almost exclusively in government debt.</p>



<p>Zubairu said he expects to launch similar programs as early as this year in Botswana, Angola and Kenya.</p>



<p>&#8220;This is kind of program that we think needs to be replicated at scale,&#8221; he said. &#8220;If we do programs like this, then you see a lot more billions available for investment.&#8221;</p>



<p>Pension funds had also placed money in the Infrastructure Climate Resilience Fund, boosting a $52 million commitment from the European Investment Bank, he said.</p>



<p>Investors from the Gulf and Europe are also looking to place money in other AFC projects, such as ARISE Integrated Industrial Platforms which designs and finances industrial projects.</p>



<p>Trump has yet to publicly signal his plans for U.S. investment in the Lobito Corridor &#8211; a railway project linking resource-rich Democratic Republic of Congo with Zambia and Angola&#8217;s Atlantic port of Lobito.</p>



<p>Former U.S. President Joe Biden&nbsp;visited the site&nbsp;during his inaugural &#8211; and only &#8211; trip to Africa.</p>



<p>Zubairu said he was confident Trump would see the value in backing the corridor, though it was a strong, bankable framework that would move forward regardless.</p>



<p>($1 = 1,510.0000 naira)</p>



<p>(Reporting By Libby George and Karin Strohecker, editing by Clelia Oziel)</p>



<p></p>


Key Speakers at Africa CEO Forum

AFC chief pushes to unlock billions from African pension funds


<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>



<p>NAIROBI, Feb 21 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.</p>



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



<p>Asian shares rose on Friday, reversing Wall Street&#8217;s negative lead as the U.S. exceptionalism narrative continued to lose its shine, while once unloved Chinese stocks found themselves more buyers thanks to optimism over artificial intelligence (AI).</p>



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



<p>Oil prices extended gains on Friday, headed for a weekly increase, as falling inventories of U.S. gasoline and distillate raised expectations of solid demand while concerns over supply disruptions in Russia lent support.</p>



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



<p>South Africa&#8217;s rand strengthened against a weaker dollar on Thursday, as investors digested U.S. data and President Donald Trump&#8217;s tariff plans.</p>



<h2 class="wp-block-heading" id="h-nigeria-central-bank-rate">NIGERIA CENTRAL BANK RATE</h2>



<p>Nigeria&#8217;s central bank left its benchmark interest rate unchanged on Thursday after six hikes last year, saying that it was reassured by stability in the foreign exchange market and saw inflation gradually falling.</p>



<h2 class="wp-block-heading" id="h-africa-currencies">AFRICA CURRENCIES</h2>



<p>The Kenyan, Nigerian, Ghanaian and Zambian currencies are expected to be broadly stable in the next week to Thursday, while Uganda&#8217;s could come under pressure, traders said.</p>



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



<p>Kenya&#8217;s shilling was stable on Thursday, but traders expect it to weaken soon as importers increase their dollar purchases.</p>



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



<p>The United States on Thursday said it was imposing sanctions on a Rwandan government minister and a senior member of an armed group for their alleged role in the conflict in the eastern Democratic Republic of Congo (DRC).</p>



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



<p>France said on Thursday it would keep 80 military personnel in Ivory Coast largely for training purposes, as it handed over control of a military base in the commercial capital amid a scaling back of its forces across West and Central Africa.</p>



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



<p>Ivory Coast&#8217;s cocoa grind fell 0.2% year-on-year in January to 63,225 metric tons, data from exporter association GEPEX showed on Thursday.</p>



<h2 class="wp-block-heading" id="h-ghana-economy">GHANA ECONOMY</h2>



<p>Ghana&#8217;s government and the labour unions have agreed to increase public servants&#8217; salaries by 10%, they said in a joint statement on Thursday, as the new administration prepares to present its budget next month.</p>



<h2 class="wp-block-heading" id="h-niger-politics">NIGER POLITICS</h2>



<p>A commission in military junta-led Niger has recommended a minimum five-year transition to democratic rule following national discussions, officials said.</p>



<p>(Compiled by Nairobi Newsroom)</p>



<p></p>


African Markets – Factors to watch on Feb 21


<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>



<p>JOHANNESBURG, Feb 20 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand firmed slightly in early trade on Thursday, recouping some of the previous session&#8217;s losses as focus shifted from a delay in the national budget to the first meeting of G20 foreign ministers in Johannesburg.</p>



<p>At 0812 GMT, the rand traded at 18.4925 against the dollar, about 0.2% stronger than its previous close.</p>



<p>The local currency slipped on Wednesday after a last-minute postponement of the budget due to disagreements within the country&#8217;s coalition government over a proposal to hike value-added tax (VAT).</p>



<p>President Cyril Ramaphosa said the cabinet would work together to deliver a new budget, which is now scheduled for March 12.</p>



<p>South Africa, which currently has the presidency of the Group of 20 major economies, will host the first meeting of foreign ministers later on Thursday amid tensions with the U.S. over the country&#8217;s land redistribution policy and its genocide case against Israel at the World Court.</p>



<p>G20 finance ministers and central bank governors are due to meet next week in Cape Town.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was slightly stronger, with the yield down 1.5 basis points to 9.165%.</p>



<p>(Reporting by Sfundo Parakozov; Editing by Helen Popper)</p>



<p></p>


Illustration photo of South African rand

South African rand partially recoups losses, with focus on G20 meeting


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-524583" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Feb 20 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled political event, company announcement, equity and currency market moves may affect South African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-political-events">POLITICAL EVENTS</h2>



<p>South Africa hosts first G20 foreign ministers&#8217; meeting</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>Gold Fields&#8217; profit jumps, dividend up amid price rally</p>



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



<p>South Africa&#8217;s rand weakened on Wednesday after the national budget was postponed due to disagreements within the coalition government.</p>



<p>On the stock market, the Top-40 index closed down about 0.8%.</p>



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



<p>Asian shares fell sharply on Thursday, tracking choppy trading on Wall Street and a dip in European stocks as U.S. President Donald Trump&#8217;s tariff plans and a cautious stance from Federal Reserve policymakers hurt risk sentiment.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>U.S. stocks ended modestly higher on Wednesday and the S&amp;P 500 notched its second straight all-time closing high as investors scrutinized the minutes from the Federal Reserve&#8217;s January policy meeting and digested U.S. President Donald Trump&#8217;s tariff plans.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold held firm near a record high on Thursday, as investors turned to bullion for safety on fears U.S. President Donald Trump&#8217;s tariff plans would stoke inflation and a global trade war.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Defence department dogged by delays, old systems and outdated laws</p>



<p>&#8211; High drama as GNU rejects Treasury’s proposed VAT hike</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; EU puts itself forward as &#8216;reliable, predictable&#8217; partner for South Africa</p>



<p>&#8211; Glencore says South Africa ferrochrome smelters may need government action to survive</p>



<p>(Compiled by Sfundo Parakozov)</p>


istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on February 20


<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>



<p>NAIROBI, Feb 20 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>*Nigeria&#8217;s central bank announces its latest lending rate decision.</p>



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



<p>Asian shares fell sharply on Thursday, tracking choppy trading on Wall Street and a dip in European stocks as U.S. President Donald Trump&#8217;s tariff plans and a cautious stance from Federal Reserve policymakers hurt risk sentiment.</p>



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



<p>Oil prices edged lower on Thursday after an industry report showed a build in U.S. crude stockpiles and as tariff concerns weighed on sentiment, falling back from gains made in the previous session on worries over supply disruptions in Russia.</p>



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



<p>South Africa&#8217;s rand weakened on Wednesday after the national budget was postponed due to disagreements within the coalition government.</p>



<h2 class="wp-block-heading" id="h-nigeria-binance">NIGERIA BINANCE</h2>



<p>Nigeria has filed a lawsuit seeking to compel cryptocurrency exchange Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country and $2 billion in back taxes, court documents showed on Wednesday.</p>



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



<p>Kenya&#8217;s shilling was little changed against the dollar on Wednesday, data from the London Stock Exchange Group showed.</p>



<h2 class="wp-block-heading" id="h-kenya-tourism">KENYA TOURISM</h2>



<p>Kenya tourism sector earnings are expected to jump to 650 billion shillings ($5 billion) this year from 452.2 billion shillings last year, Tourism Minister Rebecca Miano said on Wednesday.</p>



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



<p>Volleys of gunfire rang out in Democratic Republic of Congo&#8217;s eastern border town of Uvira on Wednesday, local sources said, as clashes broke out among allied forces amid the advance of Rwanda-backed rebels.</p>



<h2 class="wp-block-heading" id="h-rwanda-bond">RWANDA BOND</h2>



<p>Rwanda&#8217;s sole international government bond fell by the biggest margin since August 2022 on Wednesday, as worries over fighting in the neighbouring Democratic Republic of the Congo, where Rwanda backs M23 rebels, intensified.</p>



<h2 class="wp-block-heading" id="h-mali-mining">MALI MINING</h2>



<p>Canadian miner Barrick Gold has signed a new agreement with the Malian government to end an almost two-year-old dispute over its mining assets in the West African country, four people familiar with the developments told Reuters on Wednesday.</p>



<p>(Compiled by Nairobi Newsroom)</p>


African Markets – Factors to watch on Feb 20


<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>



<p>JOHANNESBURG, Feb 19 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand was little changed early on Wednesday, ahead of the 2025 national budget speech to be delivered by the finance minister.</p>



<p>At 0712 GMT, the rand traded at 18.4050 against the dollar, near its previous close.</p>



<p>Investors are keenly awaiting the budget speech at 1200 GMT by South Africa&#8217;s Finance Minister Enoch Godongwana for clues on the coalition government&#8217;s fiscal priorities, its roadmap to tackle debt and economic reforms.</p>



<p>&#8220;A well-received budget could push USD-ZAR below 18.3000,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>However, he said the local currency could come under pressure over lack of reforms and concerns over spending discipline and taxation.</p>



<p>On the stock market, the Top-40 index was flat.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was weaker in early trading, with the yield up 3 basis points to 9.155%.</p>



<p>(Reporting by Bhargav Acharya; Editing by Bernadette Baum)</p>


South African rand steady ahead of national budget


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1366" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-scaled.jpg" alt="" class="wp-image-587851" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/MFT5KPTY55OPPPKFL2CKGKSG2E-1536x1025.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">African heads of state and delegates attend the opening of the 38th Ordinary Session of the Heads of State and Government of the African Union at the African Union Commission (AUC) headquarters in Addis Ababa, Ethiopia, February 15, 2025. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



<p>ADDIS ABABA, Feb 18 (Reuters)&nbsp;&#8211;&nbsp;African leaders have approved the establishment of a $20 billion continental financial stability fund, the African Development Bank (AfDB) said, a move designed to stave off potential debt crises on the continent before they take hold.</p>



<p>The facility, known as The African Financial Stability Mechanism (AFSM), will get its own credit rating to allow it to borrow on international capital markets, the AfDB, which will host the mechanism, said in a statement seen by Reuters on Tuesday.</p>



<p>African leaders had called for the creation of the fund in February 2022 and mandated the AfDB to carry out preparations to set it up.</p>



<p>The AfDB now intends to move quickly in drafting a formal agreement and securing ratification by states, it said in the statement following an African Union summit in the Ethiopian capital over the weekend.</p>



<p>As well as soaring external commercial repayments and the risk of default, many economies in the region are also grappling with pressure for higher spending, sluggish government revenues, and the effects of climate change.</p>



<p>Creation of the facility was also partly motivated by the fact that Africa lacks its own regional financial cushion, unlike Europe and Asia, which have arrangements of this kind.</p>



<p>&#8220;If implemented as designed, the AFSM can save African sovereigns approximately $20 billion in debt servicing costs by 2035,&#8221; Kevin Urama, an AfDB vice president and its chief economist, told Reuters.</p>



<p>Membership will be voluntary and open to any African Union member country willing to participate.</p>



<p>&#8220;Provision has (also) been made for at least 20% of non-African members provided the African states retain the majority of membership,&#8221; the AfDB said.</p>



<p>African nations face a range of debt pressures, the AfDB says.</p>



<p>Some such as Kenya and Gabon have issued international Eurobonds in recent years and investors have at times questioned their ability to repay.</p>



<p>These concerns led to a steep currency depreciation in Kenya in 2023, and a rating downgrade for Gabon by Fitch last week.</p>



<p>The AFSM will lend money at &#8220;concessional&#8221; rates, the head of the AfDB told Reuters last month, and beneficiaries will commit to defined macroeconomic and fiscal reforms.</p>



<p>&#8220;The core of AFSM&#8217;s mandate is not to support the provision of bailouts to African states but to prevent them,&#8221; said the AfDB.</p>



<p>(Reporting by Dawit Endeshaw in Addis Ababa and Duncan Miriri in Nairobi; Editing by Ammu Kannampilly, Marc Jones and David Holmes)</p>


MFT5KPTY55OPPPKFL2CKGKSG2E

African leaders approve creation of $20 bln financial stability fund


<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>



<p>NAIROBI, Feb 18 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.</p>



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



<p>European futures hit record peaks on Tuesday as defence stocks soared on expectations of a spending bump, while Hong Kong shares were on the verge of three-year highs as investors cheered business leaders&#8217; meeting with President Xi Jinping.</p>



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



<p>Brent crude oil prices paused in early trading on Tuesday after gaining in the previous session following a drone attack on an oil pipeline pumping station in Russia that reduced flows from Kazakhstan.</p>



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



<p>South Africa&#8217;s rand weakened on Monday, ahead of Finance Minister Enoch Godongwana&#8217;s budget speech this week, which will provide insights on the state of Africa&#8217;s most industrialised economy.</p>



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



<p>Kenya&#8217;s shilling was little-changed against the dollar on Monday, data from the London Stock Exchange Group showed.</p>



<h2 class="wp-block-heading" id="h-ethiopia-debt">ETHIOPIA DEBT</h2>



<p>A committee of Ethiopia&#8217;s bondholders said on Monday the International Monetary Fund&#8217;s latest report on the country contained flaws that &#8220;artificially&#8221; outline a solvency issue, a scenario that would require lenders to grant debt relief.</p>



<h2 class="wp-block-heading" id="h-gabon-debt">GABON DEBT</h2>



<p>Gabon said on Monday that it had agreed to buy back around $225 million of its $605 million Eurobond maturing in 2025.</p>



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



<p>Residents of eastern Congo&#8217;s second-largest city on Monday surveyed the aftermath of widespread looting that accompanied the arrival of Rwandan-backed M23 rebels who have pledged to restore order.</p>



<h2 class="wp-block-heading" id="h-namibia-petroleum">NAMIBIA PETROLEUM</h2>



<p>African energy explorer Rhino Resources&#8217; Sagittarius 1-X well offshore in Namibia&#8217;s Orange Basin has intersected a hydrocarbon reservoir, the company said in a statement on Monday, in an eagerly awaited result for one of the world&#8217;s exploration hotspots.</p>



<h2 class="wp-block-heading" id="h-angola-oil">ANGOLA OIL</h2>



<p>Angola will load 33 crude oil cargoes in April, according to a trade source citing a preliminary loading programme.</p>



<p>(Compiled by Nairobi Newsroom)</p>


African Markets – Factors to watch on Feb 18


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-524583" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Feb 13 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, equity and currency market moves may affect South African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-economic-event">ECONOMIC EVENT</h2>



<p>December mining production data</p>



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



<p>South Africa&#8217;s rand slipped on Wednesday, after data showed U.S. consumer prices rose more than expected last month, raising the prospect of the Federal Reserve holding interest rates higher for longer.</p>



<p>On the stock market, the Top-40 index hit a fresh high and closed up about 0.5%.</p>



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



<p>U.S. and European stock futures rallied on Thursday on optimism over prospects of a peace deal between Ukraine and Russia, offsetting a jump in Treasury yields as hot inflation threatens to close the door to any policy easing in the U.S. this year.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 ended down on Wednesday after a hotter-than-expected U.S. inflation reading added to worries that the Federal Reserve would not cut interest rates anytime soon, while CVS Health and Gilead Sciences rallied after upbeat quarterly reports.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices edged higher on Thursday, as markets closely tracked developments in U.S. President Donald Trump&#8217;s tariff plans, which could ignite a global trade war, while investors awaited crucial U.S. data due later in the day. </p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Treasury to miss debt target despite austerity, says former budget chief</p>



<p>&#8211; New Eskom kickback scandal: R180m and counting in bribes for &#8216;low-value&#8217; contracts</p>



<p>(Compiled by Sfundo Parakozov)</p>


South African Markets – Factors to watch on February 13


<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>



<p>Feb 13 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Rwanda&#8217;s central bank will set its key interest rate. In November the bank held the rate at 6.5%.</p>



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



<p>U.S. and European stock futures rallied on Thursday on optimism over prospects of a peace deal between Ukraine and Russia, offsetting a jump in Treasury yields as hot inflation threatens to close the door to any policy easing in the U.S. this year.</p>



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



<p>Oil prices fell on Thursday on expectations a potential peace deal between Ukraine and Russia would mean the end of sanctions that have disrupted supply flows and U.S. President Donald Trump&#8217;s intention to introduce reciprocal tariffs stoked inflation jitters.</p>



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



<p>South Africa&#8217;s rand slipped on Wednesday, after data showed U.S. consumer prices rose more than expected last month, raising the prospect of the Federal Reserve holding interest rates higher for longer.</p>



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



<p>The Kenyan shilling strengthened slightly against the U.S. dollar on Wednesday, supported by foreign exchange inflows from the diaspora and central bank support, traders said.</p>



<h2 class="wp-block-heading" id="h-barrick-gold-mali">BARRICK GOLD MALI</h2>



<p>Barrick Gold will resume operations at its shuttered Loulo-Gounkoto mine in Mali once authorities in the country allow it to resume gold shipments, CEO Mark Bristow told Reuters on Wednesday.</p>



<h2 class="wp-block-heading" id="h-senegal-audit">SENEGAL AUDIT</h2>



<p>Senegal&#8217;s Court of Auditors released a long-awaited review of the country&#8217;s finances on Wednesday that confirmed the previous government misreported key economic data including debt and deficit figures.</p>



<h2 class="wp-block-heading" id="h-sudan-russia">SUDAN RUSSIA</h2>



<p>An agreement has been reached for the creation of a Russian naval base in Sudan, Sudanese Foreign Minister Ali Yusef Sharif said in a televised press conference in Moscow on Wednesday.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on Feb 13


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3019" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/H3K4ULF7QBPTZIVJYRLJRCCIP4.avif" alt="" class="wp-image-585463"/><figcaption class="wp-element-caption">A logo of Brazil&#8217;s state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes/File Photo</figcaption></figure>



<p>NEW DELHI, Feb 12 (Reuters) &#8211; Brazil&#8217;s Petrobras wants to buy stakes in African oil assets, mainly in Angola, Namibia and South Africa, to boost its reserves as it expects output to fall after 2030, a senior executive said on Wednesday.</p>



<p>The Brazilian state energy firm is in talks with companies, including existing partners ExxonMobil, Shell and TotalEnergies, to buy a share of their African assets, Sylvia dos Anjos, the company&#8217;s director for exploration and production, told Reuters on the sidelines of the India Energy Week conference.</p>



<p>&#8220;In our portfolio, it makes better sense. It is economical. They are our partners in Brazil so it is easy to go anywhere (with them). So it is natural,&#8221; she said.</p>



<p>Petrobras hopes to produce 2.8 million barrels per day (bpd) in 2025 and has plans to raise that to 3.1 million bpd by 2029, dos Anjos said.</p>



<p>The company is comfortable with current oil prices as its projects are &#8220;sustainable at a very low price of $45 a barrel&#8221;, she added.</p>



<p>Global benchmark Brent snapped a three-day streak of gains on Wednesday to hover near $77 a barrel, weighed down by higher U.S. crude stockpiles and concern U.S. trade tariffs will hit the global economy.</p>



<p>Last month, Petrobras said that its estimated proven reserves of oil, condensate, and natural gas climbed to 11.4 billion barrels of oil equivalent (boe) in 2024, up from 10.9 billion boe in 2023.</p>



<p>(Reporting by Nidhi Verma in New Delhi; Additional reporting by Yagnoseni Das in Bengaluru; Editing Florence Tan, Tom Hogue and Barbara Lewis)</p>


H3K4ULF7QBPTZIVJYRLJRCCIP4

Brazil’s Petrobras seeks African oil assets to boost reserves


<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>



<p>Feb 12 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Mauritius&#8217; central bank Governor Rama Krishna Sithanen is epxeced to hold a news conference after meeting with commercial bank executives.</p>



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



<p>Stocks rose and U.S. Treasury yields firmed on Wednesday as investors assessed the latest U.S. tariff salvo along with Federal Reserve Chair Jerome Powell&#8217;s signal of a patient path for rate cuts.</p>



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



<p>Oil prices fell on Wednesday as an industry report showed an increase in U.S. crude stockpiles and tariff worries weighed on sentiment, paring back three days of gains driven by increasing Middle East tensions and intensifying sanctions.</p>



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



<p>South Africa&#8217;s rand was flat on Tuesday as traders gauged the effects of U.S. President Donald Trump&#8217;s tariffs on steel and aluminum imports, which risk sparking a multi-front trade war.</p>



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



<p>The Kenyan shilling was unchanged against the U.S. dollar on Tuesday, data from the London Stock Exchange Group showed.</p>



<h2 class="wp-block-heading" id="h-congo-security">CONGO SECURITY</h2>



<p>The Rwandan-backed M23 armed group in Democratic Republic of Congo threatened on Tuesday to advance on the provincial capital of Bukavu, citing a &#8220;dangerously deteriorating&#8221; situation, as Congo rejected a call for direct talks with the rebels.</p>



<h2 class="wp-block-heading" id="h-mali-barrick-gold">MALI BARRICK GOLD</h2>



<p>Canadian miner Barrick Gold&#8217;s negotiations with the Malian government have been suspended without reaching an agreement to end the dispute over payments, Bloomberg News reported on Tuesday, citing people familiar with the government&#8217;s position.</p>



<h2 class="wp-block-heading" id="h-sudan-politics">SUDAN POLITICS</h2>



<p>The United Arab Emirates called on Tuesday for a ceasefire in Sudan during the coming holy month of Ramadan, a UAE official said, a call rejected by the Sudanese army, as the country&#8217;s civil war approaches the two-year mark.</p>



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



<p>South Sudan&#8217;s President Salva Kiir has dismissed his intelligence chief and two of the country&#8217;s vice-presidents, replacing one of his closest allies with a senior advisor whom analysts believe Kiir may be readying to succeed him.</p>



<h2 class="wp-block-heading" id="h-central-african-republic-memecoin">CENTRAL AFRICAN REPUBLIC MEMECOIN</h2>



<p>Central African Republic has launched a meme coin in what President Faustin-Archange Touadera said was a bid to raise the profile of one of the world&#8217;s poorest countries.</p>



<h2 class="wp-block-heading" id="h-tanzania-lng">TANZANIA LNG</h2>



<p>Tanzania is discussing tax incentives with investors in a stalled project to construct a $42 billion liquefied natural gas plant in the country, Energy Minister Doto Biteko said on Tuesday, adding the talks could be completed by June.</p>



<h2 class="wp-block-heading" id="h-uganda-oil">UGANDA OIL</h2>



<p>Uganda will not begin oil production this year, a government spokesperson said on Tuesday, missing a long-standing target to begin extracting crude from its western fields this year.</p>



<h2 class="wp-block-heading" id="h-uganda-health">UGANDA HEALTH</h2>



<p>The number of confirmed Ebola cases in Uganda has risen to nine from three, the country&#8217;s health ministry said.</p>



<h2 class="wp-block-heading" id="h-somalia-violence">SOMALIA VIOLENCE</h2>



<p>The Islamic State armed group attacked military bases in Somalia&#8217;s northeastern Puntland state overnight with suicide car and motorbike bombs, but government forces repelled the assault and airstrikes killed 70 militants, a military official said on Tuesday.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on February 12


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-524583" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Feb 11 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South African government bond auction</p>



<p>December manufacturing output </p>



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



<p>South Africa&#8217;s rand was little changed on Monday after U.S. President Donald Trump announced more tariff plans, adding to worries over a global trade war.</p>



<p>On the stock market, the Top-40 index closed up about 0.4%.</p>



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



<p>Gold hit a record high, the dollar was firm and Hong Kong shares advanced to a four-month peak on Tuesday as investors navigated shifts in U.S. trade policy and waited to hear from Federal Reserve Chair Jerome Powell on tariffs and inflation.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Wall Street&#8217;s main indexes closed higher on Monday, lifted by Nvidia and other AI-related stocks, while steelmakers surged after U.S. President Donald Trump said he would impose additional tariffs on steel and aluminium imports.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices soared to a record high on Tuesday, as investors flocked to the safe-haven asset after U.S. President Donald Trump imposed new 25% tariffs on steel and aluminium imports, fuelling concerns over a potential trade war and inflation.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Treasury tells departments to reprioritise budgets for G20 funding</p>



<p>&#8211; US embassy confirms Pepfar programmes exempt from Trump’s freeze on SA aid</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; SA steel and aluminium on edge amid Trump tariff uncertainty</p>



<p>(Compiled by Sfundo Parakozov)</p>


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Economy

African Markets – Factors to watch on March 18

Safe-haven gold rises above $3,000 for the first time

African payments system PAPSS plans to launch FX market platform this year

WFP calls for urgent funding to prevent food aid halt in West, Central Africa

AFC chief pushes to unlock billions from African pension funds

African Markets – Factors to watch on Feb 21

South African rand partially recoups losses, with focus on G20 meeting

South African Markets – Factors to watch on February 20

African Markets – Factors to watch on Feb 20

South African rand steady ahead of national budget

African leaders approve creation of $20 bln financial stability fund

African Markets – Factors to watch on Feb 18

South African Markets – Factors to watch on February 13

African Markets – Factors to watch on Feb 13

Brazil’s Petrobras seeks African oil assets to boost reserves

African Markets – Factors to watch on February 12

South African Markets – Factors to watch on February 11

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