
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="549" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-820x549.jpg" alt="" class="wp-image-425202" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-820x549.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-134x90.jpg 134w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-768x514.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-1536x1028.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African Rand coins are seen in this photo illustration .  REUTERS/Mike Hutchings</figcaption></figure>



<p>JOHANNESBURG, Feb 11 (Reuters) &#8211; South Africa&#8217;s rand weakened early on Tuesday as traders gauged the effects of U.S. President Donald Trump&#8217;s tariffs on steel and aluminium imports, which risk sparking a multi-front trade war.</p>



<p>At 0727 GMT, the rand traded at 18.4725 against the U.S. dollar, about 0.1% softer than its previous close.</p>



<p>Trump imposed tariffs on steel and aluminium imports on Monday to a flat 25% &#8220;without exceptions or exemptions&#8221; aiming to benefit production in the world&#8217;s biggest economy.</p>



<p>ETM Analytics said in a research note that South Africa &#8220;will be minimally affected&#8221;.</p>



<p>&#8220;For now, the USD-ZAR will trade cautiously and without clear direction, until Trump&#8217;s policies are understood and the implications are more quantifiable than they are now,&#8221; the note added.</p>



<p>South Africa-focussed investors will look to December manufacturing data due around 1100 GMT, for signs on the health of Africa&#8217;s most industrialised economy. Economists polled by Reuters expect manufacturing output to fall 1.7%.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was weaker in early deals, with the yield up 1 basis point to 9.11%.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded about 0.4% weaker. Shares in steel producer ArcelorMittal South Africa traded 2% weaker on the news of Trump&#8217;s tariffs.</p>



<p>(Reporting by Sfundo Parakozov; Editing by Tannur Anders and Ed Osmond)</p>


South African Rand coins are seen in this photo illustration

South African rand softer, markets focus on Trump steel tariff impact


<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 11 (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>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-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices extended gains on Tuesday after a report showed Russian oil production fell short of quota and on fears of more supply disruptions, but gains were limited by worries that escalating trade tariffs could dampen global economic growth.</p>



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



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



<p>The Kenyan shilling was flat against the dollar on Monday, data from the London Stock Exchange Group (LSEG) showed.</p>



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



<p>South Africa has sent additional troops and military equipment to Democratic Republic of Congo in recent days, political and diplomatic sources said, after 14 of its soldiers were killed in fighting with Rwanda-backed rebels last month.</p>



<h2 class="wp-block-heading" id="h-uganda-central-bank">UGANDA CENTRAL BANK</h2>



<p>Uganda has named a new central bank governor and deputy governor, President Yoweri Museveni&#8217;s office said on Monday.</p>



<h2 class="wp-block-heading" id="h-botswana-economy">BOTSWANA ECONOMY</h2>



<p>Botswana sees 3.3% growth in 2025 amid upturn in diamond market.</p>



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


World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Feb 11


<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-1161864863-820x547.jpg" alt="" class="wp-image-505639" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-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>



<p>JOHANNESBURG, Feb 10 (Reuters) &#8211; South Africa&#8217;s rand and bonds weakened on Monday after U.S. President Donald Trump announced fresh tariff plans, adding to worries over a global trade war.</p>



<p>At 1011 GMT, the rand traded at 18.4650 against the U.S. dollar, about 0.2% weaker than its previous close.</p>



<p>The dollar was little changed after Trump said on Sunday he would introduce new 25% tariffs on all steel and aluminium imports into the U.S., on top of existing metals duties.</p>



<p>Analysts said South Africa may face further risks after Trump signed an executive order cutting U.S. financial assistance to the country on Friday, citing disapproval of its land policy and of its genocide case at the International Court of Justice against Washington&#8217;s ally Israel.</p>



<p>&#8220;SA needs to forge a path without US assistance, which this government must’ve foreseen as a real possibility given its geopolitical position towards Russia, BRICS and Israel/Palestine,&#8221; said ETM Analytics in a research note.</p>



<p>South Africa&#8217;s longer-dated bonds also slid, with the 2052 maturity falling as much as 0.47 cents to bid at 88.66 cents on the dollar at 1010 GMT in contrast to most African sovereigns, which broadly traded flat.</p>



<p>The shorter-dated maturities fell by smaller amounts and the 2025 was slightly positive.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was weaker, with the yield up 6.5 basis points to 9.13%.</p>



<p>On the stock market, the Top-40 index last traded about 0.1% higher.</p>



<p>(Reporting by Sfundo Parakozov; Additional reporting by Libby George and Tannur Anders, Editing by Bhargav Acharya, Hugh Lawson and Sharon Singleton)</p>


South African Rand Rebound Snaps Streak of Weekly Losses

South African rand, bonds slip on Trump’s new tariff threats


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-820x547.jpg" alt="" class="wp-image-404443" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling.jpg 1254w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Macro view of a screen of trading terminal with abstract financial graph and digits. Trading and forex concept. 3D Rendering</figcaption></figure>



<p>NAIROBI, Feb 10 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.</p>



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



<p>Asian shares dithered and the dollar edged higher on Monday after U.S. President Donald Trump warned more tariffs were imminent including on steel and aluminium, an inflationary move that could limit the scope for rate cuts.</p>



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



<p>Oil prices ticked higher on Monday even as investors weighed U.S. President Donald Trump&#8217;s latest tariff threat, this time on all steel and aluminium imports, which could dampen global economic growth and energy demand.</p>



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



<p>South Africa&#8217;s rand firmed on Friday after President Cyril Ramaphosa said his government would launch a second wave of reforms to try to boost economic growth. </p>



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



<p>Kenya&#8217;s shilling strengthened against the dollar on Friday, London Stock Exchange Group data showed.</p>



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



<p>Leaders at an unprecedented joint summit of Eastern and Southern African blocs aimed at defusing the crisis in Eastern Congo urged all parties to hold direct talks, including with Rwanda-backed rebels whose advance has fanned fears of a wider war. </p>



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



<p>Ethiopia is in the &#8220;final stages&#8221; of negotiations with its creditors in an ongoing plan to restructure its debt, its finance minister, Ahmed Shide, said on Sunday. </p>



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



<p>Mali&#8217;s industrial gold production plunged 23% to 51 metric tons last year from 66.5 tons in 2023, the West African country&#8217;s mines ministry said. </p>



<h2 class="wp-block-heading" id="h-rwanda-congo-war">RWANDA-CONGO WAR</h2>



<p>Rwanda said on Friday it had proof of an intended major attack by the Democratic Republic of Congo and denied it was fomenting conflict inside its neighbour&#8217;s border.</p>



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


Macro view of a screen of trading terminal with abstract financial graph and digits. Trading and forex concept. 3D Rendering

African Markets – Factors to watch on Feb 10


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-501467" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Feb 7 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.</p>



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



<p>South Africa&#8217;s net foreign reserves rose to $61.328 billion in January</p>



<p>South African inflation-linked bond auction</p>



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



<p>The South African rand was little changed on Thursday as investors turned their attention to President Cyril Ramaphosa&#8217;s national address for insights on future economic and political policies.</p>



<p>On the stock market, the Top-40 index closed 0.9% higher.</p>



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



<p>Asian stocks inched up on Friday ahead of key U.S. payrolls data as investors considered prospects that a broader trade war could be averted, while the yen hit its highest in nearly two months on rising odds of more rate hikes in Japan this year.</p>



<p>WALL STREET</p>



<p>The S&amp;P 500 and the Nasdaq ended higher while the Dow closed lower after a choppy trading session on Thursday, as investors sifted through earnings reports and awaited Amazon&#8217;s results after the bell and a key jobs report on Friday.</p>



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



<p>Gold prices rose on Friday, hovering near record-high levels and set for a sixth successive weekly gain, as trade war concerns fuelled safe-haven buying ahead of the key U.S. payrolls report.</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; Anglo faces second De Beers writedown</p>



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



<p>&#8211; Ramaphosa punts second wave of economic reform and big infrastructure plans</p>



<p>&#8211; No R1bn state bailout to save ArcelorMittal mills, but a rescue package is expected soon</p>



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


istockphoto-1076949610-612×612-1-2

South African Markets – Factors to watch on February 7


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="439" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand-Dec.avif" alt="" class="wp-image-568249"/><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>



<p>JOHANNESBURG, Feb 6 (Reuters)&nbsp;&#8211;&nbsp;The South African rand weakened early on Thursday as investors focussed on President Cyril Ramaphosa&#8217;s national address for clarity on the country&#8217;s economic and political policies.</p>



<p>At 0641 GMT, the rand traded at 18.5925 against the dollar, about 0.3% weaker than its previous close.</p>



<p>Ramaphosa will deliver around 1700 GMT the annual State of the Nation Address (SONA), the first under his coalition government, which will provide investors some clarity on economic reforms and the country&#8217;s approach to structural challenges.</p>



<p>Although SONA has traditionally not been a market-moving event, this address could be different, analysts said.</p>



<p>A highlight may be the economic reforms underway, which are key to removing the country from the Financial Action Task Force&#8217;s greylist and stabilising the fiscus.</p>



<p>U.S. President Donald Trump said on Sunday, without citing evidence, that &#8220;South Africa is confiscating land&#8221; and &#8220;certain classes of people&#8221; were being treated &#8220;very badly&#8221;. He said he would cut funding until the matter was investigated.</p>



<p>ETM Analytics said in a research note that Ramaphosa will want to use the opportunity of SONA to paint the country&#8217;s future efforts in a better light.</p>



<p>&#8220;This SONA will, therefore, be the main event of the day and capture the bulk of the market&#8217;s attention through the afternoon and evening as it receives more and more coverage,&#8221; the note added.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was weaker in early deals, with the yield up 1.5 basis points at 9.06%.</p>



<p>(Reporting by Sfundo Parakozov; Editing by Tannur Anders and Sherry Jacob-Phillips)</p>


rand Dec

South African rand weakens; traders focus on president’s address


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-573311" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Feb 6 (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-event">POLITICAL EVENT</h2>



<p>South African President Cyril Ramaphosa&#8217;s annual State of the Nation Address at 1700 GMT</p>



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



<p>ArcelorMittal full-year financial results</p>



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



<p>South Africa&#8217;s rand gained against a weaker dollar on Wednesday, as investors awaited President Cyril Ramaphosa&#8217;s national address on Thursday and closely watched developments between the U.S. and China in their dispute over tariffs.</p>



<p>On the stock market, the Top-40 index closed about 0.3% higher.</p>



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



<p>Asia shares rose on Thursday, tracking gains on Wall Street following a see-saw session, while U.S. Treasury yields came under pressure after mixed economic data.</p>



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



<p>All three major stock indexes closed higher on Wednesday, rebounding from declines earlier in the session as investors brushed off disappointing Alphabet earnings and weighed the prospect of future interest rate cuts from the U.S. Federal Reserve.</p>



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



<p>Gold prices edged higher on Thursday, hovering near record highs hit in the previous session, as tensions in the China-U.S. trade war lifted safe-haven demand, while investors awaited the U.S. jobs data for clues on the future direction of interest rates.</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; SA sets bold growth target, strips NHI from draft planning document</p>



<p>&#8211; Trump&#8217;s aid freeze puts more than 15,000 healthcare posts on the line, Motsoaledi says</p>



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



<p>&#8211; Mining sector warns of growing water crisis, urges partnership with government</p>



<p>&#8211; Musk&#8217;s SpaceX a no-show at public hearing on SA satellite rules</p>



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


South African Markets – Factors to watch on February 6


<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 6 (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>*Uganda&#8217;s and Zimbabwe&#8217;s central banks to announce their latest respective benchmark lending rate decisions.</p>



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



<p>Asia shares rose on Thursday, tracking gains on Wall Street following a see-saw session, while U.S. Treasury yields came under pressure after mixed economic data.</p>



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



<p>Oil prices ticked up in early Asian trading on Thursday, steadying from a sell-off the previous day after Saudi Arabia&#8217;s state oil company sharply raised March oil prices.</p>



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



<p>South Africa&#8217;s rand gained against a weaker dollar on Wednesday, as investors awaited President Cyril Ramaphosa&#8217;s national address on Thursday and closely watched developments between the U.S. and China in their dispute over tariffs.</p>



<h2 class="wp-block-heading" id="h-nigeria-budget">NIGERIA BUDGET</h2>



<p>Nigeria&#8217;s President Bola Tinubu has increased the size of the 2025 budget to 54.2 trillion naira ($36.4 billion) from 49 trillion naira, he said in a letter to the Senate published on Wednesday.</p>



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



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



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



<p>Kenya&#8217;s central bank cut its main interest rate for the fourth meeting in a row on Wednesday, saying it wanted to do more to support lending and boost economic growth.</p>



<h2 class="wp-block-heading" id="h-kenya-economy">KENYA ECONOMY</h2>



<p>Kenya has already started talks with International Monetary Fund officials to secure a new lending program when the current one expires in April, its finance minister told Reuters on Wednesday.</p>



<h2 class="wp-block-heading" id="h-kenya-pmi">KENYA PMI</h2>



<p>Kenya&#8217;s private sector activity expanded for a fourth straight month in January but only modestly and at a slower pace than in December, a survey showed on Wednesday.</p>



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



<p>Rwandan-backed M23 rebels have seized control of a mining town in eastern Democratic Republic of Congo&#8217;s South Kivu province, eight sources said on Wednesday, in an apparent violation of a unilateral ceasefire they declared this week.</p>



<h2 class="wp-block-heading" id="h-ghana-cocoa">GHANA COCOA</h2>



<p>Cocoa arrivals at official Ghanaian warehouses neared 550,000 metric tons by end-January, putting the world&#8217;s No. 2 producer within reach of its output target for this season, said a source with access to data from sector regulator Cocobod.</p>



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



<p>A new mining law in Mali that raises taxes and seeks to hand over big stakes in assets to the state and local investors will need to be loosened up if gold companies are to invest in new projects there, company CEOs told Reuters.</p>



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



<p>French oil major TotalEnergies expects to take a final investment decision (FID) on its Namibian offshore oil discovery in 2026, CEO Patrick Pouyanne said on Wednesday at a press briefing.</p>



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


African Markets – Factors to watch on Feb 6


<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 5 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand firmed against a weaker dollar early on Wednesday, as investors awaited President Cyril Ramaphosa&#8217;s national address on Thursday and closely watched developments between the U.S. and China.</p>



<p>At 0752 GMT, the rand traded at 18.6125 against the U.S. dollar, about 0.3% stronger than its previous close.</p>



<p>The dollar&nbsp;=USD&nbsp;last traded about 0.3% weaker against a basket of currencies after China retaliated to tariffs imposed by U.S. President Trump.</p>



<p>Ramaphosa will on Thursday deliver the annual State of the Nation Address (SONA), the first under his coalition government. Investors will pay particular attention to comments on reforms and fiscal discipline.</p>



<p>&#8220;Rand sentiment hinges on SONA and U.S.-China trade war developments. Stronger messaging on reforms and fiscal discipline could support South African assets,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>&#8220;Investors remain cautious, with global trade tensions keeping risk appetite subdued,&#8221; Cilliers added.</p>



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



<p>South Africa&#8217;s benchmark 2030 government bond was firmer in early deals, with the yield down 4.5 basis points to 9.04%.</p>



<p>(Reporting by Tannur Anders and Sfundo Parakozov; Editing by Christina Fincher)</p>


Illustration photo of South African rand

South African rand firms ahead of president’s address


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-573311" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Feb 5 (Reuters)&nbsp;&#8211;&nbsp;The following equity and currency market moves may affect South African markets on Wednesday.</p>



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



<p>South Africa&#8217;s rand edged higher on Tuesday as markets digested U.S. President Donald Trump&#8217;s changing tariff stance.</p>



<p>On the stock market, the Top-40 index closed about 1.1% higher.</p>



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



<p>Asian stock markets struggled to make headway as Wall Street futures took a knock from earnings disappointment, and the dollar backtracked on the yen following a fall in Treasury yields.</p>



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



<p>The three major stock indexes closed higher on Tuesday, aided by energy stocks, while investors saw reason for optimism for a trade breakthrough between the U.S. and China after President Donald Trump delayed tariffs for Canada and Mexico.</p>



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



<p>Gold prices hit a record high, bolstered by fears of a new trade war between the United States and China after Beijing slapped tariffs on U.S. imports in response to new U.S. duties on Chinese goods.</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; World Bank a little more upbeat on SA growth but warns of persistent risks</p>



<p>&#8211; Ramaphosa meets Elon Musk over Trump tirade</p>



<p>(Compiled by Sfundo Parakozov; Editing by Rashmi Aich)</p>


istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Feb. 5


<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 5 (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>*Kenya&#8217;s central bank to announce its latest benchmark lending rate decision.</p>



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



<p>Asian stock markets tried to steady on Wednesday amid hopes U.S. tariffs would not be as painful for the global economy as feared just a day ago, though Wall Street futures took a knock from a sharp drop in Alphabet shares as earnings disappointed.</p>



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



<p>Oil prices were little changed on Wednesday after volatile trading in the previous session as investors shrugged off the impact of China&#8217;s tariffs on U.S. energy imports though President Donald Trump&#8217;s renewed push to eliminate Iranian crude exports provided some support.</p>



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



<p>South Africa&#8217;s rand edged higher on Tuesday as markets digested U.S. President Donald Trump&#8217;s changing tariff stance.</p>



<h2 class="wp-block-heading" id="h-nigeria-labour">NIGERIA LABOUR</h2>



<p>Nigeria&#8217;s largest labour union has suspended a planned nationwide protest against a 50% hike in telecommunications tariffs and will negotiate with the government to resolve the dispute within two weeks, both sides said on Tuesday.</p>



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



<p>Kenya&#8217;s shilling gained slightly against the dollar on Tuesday, data from the London Stock Exchange Group showed.</p>



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



<p>The Bank of Mauritius said on Tuesday that its Monetary Policy Committee (MPC) had decided to raise its key interest rate by 50 basis points to 4.50%.</p>



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



<p>The U.N. Human Rights Council will hold a special meeting to discuss the situation in the eastern Congo city of Goma after it was seized by Rwanda-backed M23 rebels, a U.N. statement said.</p>



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



<p>Ivory Coast collected around 4.2 trillion CFA francs ($6.65 billion) in taxes in 2024, up 13.7% from 2023, according to a document of the tax authority seen by Reuters on Tuesday.</p>



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


African Markets – Factors to watch on Feb 5


<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>Jan 30 (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>Democratic Republic of Congo&#8217;s central bank is expected to hold its first monetary policy committee meeting for the year.</p>



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



<p>Asian share markets rose in thin trading on Thursday as much of the region was on holiday for the Lunar New Year, while the U.S. dollar held its ground after the Federal Reserve signaled a pause in policy easing.</p>



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



<p>Oil prices were little changed on Thursday as markets braced for threatened tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude oil to United States, and awaited a meeting of OPEC+ producers.</p>



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



<p>South Africa&#8217;s rand was unchanged on Wednesday ahead of an interest rate decision by the U.S. Federal Reserve.</p>



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



<p>The Kenyan shilling was unchanged against the dollar on Wednesday, according to data from the London Stock Exchange Group.</p>



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



<p>As an East African bloc urged an immediate ceasefire in eastern Democratic Republic of Congo, Rwandan-backed M23 rebels who seized the city of Goma extended their advance on Wednesday, and Congo said it planned a campaign to recover lost territory.</p>



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



<p>A small aircraft carrying oil workers in South Sudan&#8217;s Unity State crashed on takeoff from its oilfield airport on Wednesday, killing 20 people, the region&#8217;s information minister said.</p>



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


African Markets – Factors to watch on Jan 30


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-573311" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



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



<p>South African December money supply data</p>



<p>South Africa December budget balance data</p>



<p>South Africa December producer inflation figures</p>



<p>South African central bank interest rate announcement</p>



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



<p>Energy regulator Nersa&#8217;s decision on Eskom&#8217;s electricity tariffs</p>



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



<p>South Africa&#8217;s rand was unchanged on Wednesday ahead of an interest rate decision by the U.S. Federal Reserve.</p>



<p>On the stock market, the Top-40 was last up about 1%. </p>



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



<p>Asian share markets were mixed in thin trading on Thursday as much of the region was on holiday for the Lunar New Year, while the U.S. dollar trod water after the Federal Reserve signalled a pause in policy easing.</p>



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



<p>U.S. stocks ended lower on Wednesday, but off their lows of the day, with the Federal Reserve holding interest rates steady as expected and Fed Chair Jerome Powell offering soothing comments for investors. </p>



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



<p>Gold traded in a relatively narrow price range on Thursday as investors focused on U.S. President Donald Trump&#8217;s tariff plans and a key inflation report for monetary policy cues. </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; Auditor-general slams Eskom’s continued lack of governance</p>



<p>&#8211; RMB winds down debt sponsor business</p>



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



<p>&#8211; Musk&#8217;s SpaceX says SA&#8217;s BEE rules are a big barrier</p>



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


South African Markets – Factors to watch on Jan 30


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="3460" height="2202" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JY3IL6MOW5MZZP4PQIU6XATSJE.avif" alt="" class="wp-image-580167"/><figcaption class="wp-element-caption">Delegates attend the Africa Energy Summit in Dar es Salaam, Tanzania January 27, 2025. REUTERS/Emmanuel Herman/File Photo</figcaption></figure>



<p>DAR ES SALAAM, Jan 29 (Reuters)&nbsp;&#8211;&nbsp;An initiative to connect 300 million Africans to electricity in the next six years has won new pledges worth more than $8 billion from lenders including the Islamic Development Bank and the Asia Infrastructure Investment Bank.</p>



<p>The Mission 300 initiative, launched by the World Bank and the African Development Bank in April, is projected to cost $90 billion. Its implementation faces challenges because the economies of countries in the region are severely constrained, mainly due to sluggish revenue and high debt service costs.</p>



<p>&#8220;Our national balance sheets are insufficient&#8230; to achieve Mission 300&#8217;s objectives,&#8221; Zambian President Hakainde Hichilema told an Africa energy summit in Tanzania.</p>



<p>Funding for the project is expected to come from multilateral development banks, development agencies, private businesses and philanthropic organisations such as the Rockefeller Foundation, which is part of the initiative.</p>



<p>Muhammad al Jasser, chairman of the IsDb, said in a statement released during the summit that ended on Tuesday that the Jeddah-headquartered bank was committing $2.65 billion in project financing and another $2 billion to insure power projects in Africa.</p>



<p>Beijing-based AIIB is set to provide $1-1.5 billion in financing.</p>



<p>&#8220;Six hundred million people in Africa without access to electricity is intolerable,&#8221; said AIIB President Jin Liqun.</p>



<p>Others funding the project include the French Development Agency (AFD), which committed to providing 1 billion euros ($1.04 billion), and the OPEC Fund for International Development, which made an initial commitment of $1 billion, the AfDB said in a closing statement.</p>



<p>The additional finance builds on commitments of up to $48 billion from the World Bank and the AfDB, officials at the summit said. The two organisations&#8217; contributions could be increased during implementation, they said.</p>



<p>Provision of 300 million people with access to electricity, half of those currently without power on the continent, is a crucial building block for boosting Africa&#8217;s development by creating new jobs, said World Bank President Ajay Banga.</p>



<p>Half of the targeted new connections will get electricity from existing national grids, officials said at the summit, while the other half will be from renewable energy sources, including wind and solar mini-grids.</p>



<p>Apart from lighting up homes and businesses, Mission 300 is expected to boost the provision of clean cooking energy to homes, cutting reliance on wood and charcoal which are harmful, said Tanzania&#8217;s president, Samia Suluhu Hassan.</p>



<p>($1 = 0.9589 euros)</p>



<p>(Reporting by Duncan Miriri, Editing by Timothy Heritage)</p>



<p></p>


JY3IL6MOW5MZZP4PQIU6XATSJE

Plan to get electricity to more Africans wins $8 billion in new pledges


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="455" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/H5UJYCYVIVJ5NOW5DBSYMDIX3Q.avif" alt="" class="wp-image-579812"/><figcaption class="wp-element-caption">A shopper makes her selection at a grocery store in Johannesburg July 7, 2015. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



<p>PRETORIA, Jan 28 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s statistics agency has updated its consumer inflation basket for the first time since 2022, including items like rosé wine, air fryers and streaming services to reflect changes in spending habits.</p>



<p>Patrick Kelly, head of price statistics at Statistics South Africa, said it was difficult to gauge what impact the update would have on upcoming inflation releases given subtle shifts in the weighting of some items.</p>



<p>Consumer inflation currently sits at the bottom of the central bank&#8217;s target range, which has allowed it to cut interest rates at its last two meetings. Another rate cut is expected this week.</p>



<p>The update involved adding 71 products to the basket, removing 53 and reorganising 29 through merging, splitting or reclassification, the statistics agency said on Tuesday.</p>



<p>There are now 391 items in the basket, down from 396 previously.</p>



<p>Housing and utilities, food and non-alcoholic beverages, and transport continue to have the biggest weightings in the basket.</p>



<p>Statistics South Africa&#8217;s Kelly said the weight of the food and non-alcoholic beverages category had risen while it had fallen for housing and utilities, suggesting the overall impact on headline inflation was likely to be muted.</p>



<p>The changes were informed by the results of a 2022/23 household income and expenditure survey.</p>



<p>The survey showed real average annual household income fell to about 204,000 rand ($10,900) in 2023 from 206,000 rand in 2015.</p>



<p>It also highlighted persistent racial disparities more than three decades after apartheid ended, with more than 45% of Black African households spending less than around 25,000 annually, showing they experience the worst financial constraints.</p>



<p>($1 = 18.6665 rand)</p>



<p>(Reporting by Kopano Gumbi; Editing by Alexander Winning and Christina Fincher)</p>


H5UJYCYVIVJ5NOW5DBSYMDIX3Q

South African statistics agency updates its inflation basket


<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>Jan 28 (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>U.S. stock futures steadied, the dollar ticked higher and tech stocks in Asia slid on Tuesday following a wave of selling as apparent advances by a Chinese AI startup cast doubt on U.S. dominance and spending in one of the market&#8217;s hottest sectors.</p>



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



<p>Oil prices ticked up but hovered near a two-week low on Tuesday after weak economic data from China and warming weather forecasts elsewhere soured the demand outlook.</p>



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



<p>South Africa&#8217;s rand slipped on Monday ahead of a week packed with domestic and international data releases, with eyes set on interest rate decisions from the Federal Reserve and the South African Reserve Bank (SARB).</p>



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



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



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



<p>Rwandan-backed rebels marched into eastern Congo&#8217;s largest city Goma on Monday, and the U.N. said they were supported by at least some regular Rwandan troops, in the worst escalation of a long-running conflict for more than a decade.</p>



<h2 class="wp-block-heading" id="h-ghana-rates">GHANA RATES</h2>



<p>Ghana&#8217;s central bank left its main interest rate unchanged on Monday, saying that inflation was expected to start falling again and that detailed talks on monetary policy were difficult before the new government publishes its economic policy plans.</p>



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



<p>Mali&#8217;s government and Barrick Gold will start a new round of negotiations on Tuesday to resolve a deepening dispute over the alleged nonpayment of taxes by the Canadian miner and the seizure of its gold stocks by authorities in the country, two sources familiar with the matter told Reuters.</p>



<h2 class="wp-block-heading" id="h-sudan-war">SUDAN WAR</h2>



<p>After a week of whirlwindgains for the Sudanese army and allies in the capital Khartoum, leaders hailed a turning point in the civil war, speaking to reporters from inside the army&#8217;s main headquarters that had been besieged since April 2023.</p>



<h2 class="wp-block-heading" id="h-africa-power">AFRICA POWER</h2>



<p>Several African nations committed on Monday to open up their electricity sectors to attract investors and light up homes of 300 million people currently lacking power in the next six years.</p>



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


African Markets – Factors to watch on Jan 28


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg" alt="" class="wp-image-400641" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A collection of mixed denomination South African rand coins sit in an arranged photo in Johannesburg, South Africa, on Thursday, June 22, 2017. South Africas inflation rate rose for the first time this year in May after food-price growth quickened from the slowest pace since December 2015. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



<p>JOHANNESBURG, Jan 24 (Reuters) &#8211; South Africa&#8217;s rand firmed on Friday against a weaker dollar after U.S. President Donald Trump demanded lower interest rates from the Federal Reserve, driving down Treasury yields.</p>



<p>At 0848 GMT, the rand traded at 18.35 against the U.S. dollar, about 1% stronger than its previous close. The greenback last traded about 0.6% weaker against a basket of currencies.</p>



<p>Data out of the world&#8217;s biggest economy on Thursday showed a rise in weekly jobless claims, while Trump, speaking virtually at the World Economic Forum meeting at Davos, said he would demand lower interest rates.</p>



<p>The&nbsp;jobless claims and Trump&#8217;s remarks&nbsp;led to a revision of U.S. rate cut expectations and drove&nbsp;U.S. Treasury yields lower on Friday, ETM Analytics said in a research note.</p>



<p>&#8220;In turn, the dollar has come under renewed pressure, with the rand taking advantage as it trades to its strongest levels since before Christmas. Whether the rand bulls can sustain this momentum into the weekend remains to be seen.&#8221;</p>



<p>But analysts said that although dollar weakness supports the local currency, tariff risks posed by Trump and a fragile global sentiment could limit further gains.</p>



<p>Next week, domestically focused investors will look to the South African Reserve Bank (SARB) when it announces its first interest rate decision for 2025 on Jan. 30.</p>



<p>&#8220;With the SARB, Fed and (European Central Bank) meetings ahead, central bank guidance will heavily influence (foreign exchange) and bond markets,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was stronger, with the yield down 8 basis points to 8.975%.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index last traded up more than 1%.</p>



<p>(Reporting by Tannur Anders; additional reporting by Sfundo Parakozov; editing by Rashmi Aich and Mark Heinrich)</p>


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Plan to get electricity to more Africans wins $8 billion in new pledges

South African statistics agency updates its inflation basket

African Markets – Factors to watch on Jan 28

South African rand rallies against weaker dollar, US Fed rates in focus

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Economy

South African rand softer, markets focus on Trump steel tariff impact

African Markets – Factors to watch on Feb 11

South African rand, bonds slip on Trump’s new tariff threats

African Markets – Factors to watch on Feb 10

South African Markets – Factors to watch on February 7

South African rand weakens; traders focus on president’s address

South African Markets – Factors to watch on February 6

African Markets – Factors to watch on Feb 6

South African rand firms ahead of president’s address

South African Markets – Factors to watch on Feb. 5

African Markets – Factors to watch on Feb 5

African Markets – Factors to watch on Jan 30

South African Markets – Factors to watch on Jan 30

Plan to get electricity to more Africans wins $8 billion in new pledges

South African statistics agency updates its inflation basket

African Markets – Factors to watch on Jan 28

South African rand rallies against weaker dollar, US Fed rates in focus

News Tips

Advertise With Us

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