Saleh El-Sheikh, head of Egypt's Central Authority for Organization and Administration (CAOA), participated in the regular meetings of the African Association for Public Administration and Management (AAPAM) Executive Committee, held from April 15 (...)
South Africa plans to use future withdrawals from its Gold and Foreign Exchange Contingency Reserve Account to tackle debt, according to Reuters citing Finance Minister Enoch Godongwana.
The country is wrestling with a faltering economy and (...)
South Africa's central bank is now expected to enact a mere 50 basis points of interest rate cuts this year, a downgrade from previous forecasts due to lingering inflation concerns, according to a recent Reuters poll.
The anticipated cut is likely (...)
South Africa recorded a slight decline in headline inflation to 5.3 per cent in March from February's 5.6 per cent, maintaining a range of 5-6 per cent since September 2023. The consumer price index (CPI) rose by 0.8 per cent, down from 1.0 per cent (...)
Manufacturing activity in South Africa declined in March, as indicated by the Purchasing Managers' Index (PMI), Reuters reported on Tuesday.
Respondents cited sluggish demand as a contributing factor to the downturn.
The seasonally-adjusted PMI (...)
The proposed Africa Energy Bank, poised to focus on oil and gas investments continent-wide, plans to commence operations later this year with an initial $5 billion capital, according to Reuters citing a senior official as saying on Wednesday.
The (...)
The New Development Bank (NDB), set up by the BRICS group of emerging economies, plans to provide approximately $5 billion in loans this year, Reuters reported on Tuesday, citing its vice president, Zhou Qiangwu.
Zhou mentioned that the bank's (...)
Blue Carbon initiatives have been on the rise worldwide, yet the demand for carbon credits currently surpasses the supply.
Traditionally, only mangroves, salt marshes, and seagrass meadows are recognized as Blue Carbon ecosystems. However, other (...)
South Africa witnessed in February a rise in consumer inflation for the second consecutive month, reaching 5.6 per cent year on year, up from 5.3 per cent in January, statistics agency data showed on Wednesday, according to Reuters.
The South (...)
Three Coptic Orthodox monks were killed in a criminal attack at the Monastery of Saint Mark the Apostle and Saint Bishop Samuel in Johannesburg, South Africa, on Tuesday.
The Coptic Orthodox Church expressed its deep sorrow in a statement, offering (...)
Russia's seaborne coal exports to Asia have been showing a downward trend in recent times, including a decrease in shipments of both thermal grades and metallurgical coal, which is utilised in steel production, Reuters reported on Tuesday.
In (...)
South Africa witnessed a resurgence in private sector activity in February after a six-month downturn, buoyed by increased staffing and purchasing levels alongside a surge in confidence, according to Reuters citing a survey released on Tuesday.
The (...)
The CFC–Evergrow consortium, comprising the CFC Group for Chemicals and the Evergrow Group for Specialized Fertilizers, has entered into a strategic partnership with the Eastern Cape Development Corporation (ECDC) and the Chris Hani Development (...)
South Africa and India have opposed an investment agreement during a World Trade Organisation (WTO) gathering in Abu Dhabi, halting its acceptance, Reuters reported on Thursday.
The two county's objection has the potential to impede mega (...)
Minister of Trade and Industry Ahmed Samir held a series of intensive meetings with trade ministers from member countries of the World Trade Organization (WTO) in Abu Dhabi. The meetings were part of the Thirteenth Ministerial Conference of the WTO, (...)
South Africa's Sasol reported a 34 per cent decline in half-year revenues on Monday, mainly attributed to weaker oil and petrochemical prices as well as higher costs, Reuters reported.
Sasol, the largest producer of fuels and chemicals from coal and (...)
South African Gold Fields increased its forecast of the amount of gold to be produced in 2024 to between 2.33 million and 2.4 million ounces on Thursday. The company stated that it anticipates a swift increase in production at its new Salares Norte (...)
The competition authorities of the BRICS countries (Brazil, Russia, India, China, and South Africa) gathered in Cairo, Egypt, on Wednesday for a two-day meeting to discuss critical issues related to global food supply chains and grain trade.
This (...)
Mozambique's Maputo port, which has grown to be a major hub for the world's exported chrome will see a $2 billion capacity expansion in a railway link upgrade, Bloomberg reported.
According to the African Development Bank (AfDB), the Development (...)
Ahmed El-Sobky, Chairperson of the General Authority for Health Care and General Supervisor of the Universal Health Insurance and Decent Life projects at the Ministry of Health and Population, met with Joseph Ntshikiwane Mashimbye, South African (...)
South Africa's budget deficit will shrink in the upcoming years, at a pace slower than October estimates due to weak mining tax receipts, according to a Reuters survey, which also revealed the central bank would postpone interest rate cuts.
A survey (...)
The South African rand strengthened early on Wednesday preceding December retail sales data, after falling more than 1 per cent against the U.S. dollar the day before, according to Reuters.
The rand was 0.2 per cent stronger at 07:47 GMT, closing at (...)
KAP Ltd. is reportedly considering selling the logistics division of its Unitrans business, as part of its plans to lower the South African industrial company's debt, according to Bloomberg citing people familiar with the subject.
The unnamed source (...)
The South African rand remained stable in early trading on Tuesday at 18.90 against the U.S. dollar, compared to its previous close of 18.91, ahead of the release of local mining production data, Reuters reports on Tuesday.
Statistics South Africa (...)
China and Indonesia plan to cut their nickel production by at least 100,000 metric tons this year in an effort to minimise losses after the price of the metal, which is used to make stainless steel and electric vehicles, fell sharply, Reuters (...)