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South African Rand coins are seen in this photo illustration. REUTERS-Mike Hutchings

South Africa’s rand edges firmer in cautious early trade

South Africa’s rand edged firmer in tentative early trade on Wednesday, as investors weighed a surge in coronavirus infections in key global centres and more signs of a creaking local economy.
Kenyan ministry of health medical workers prepare to take swabs from truck drivers during a testing for the coronavirus disease (COVID-19), at the Namanga one stop border crossing point between Kenya and Tanzania, in Namanga, Kenya May 12, 2020. REUTERS/Thomas Mukoya

In Africa, lack of coronavirus data raises fears of “silent epidemic”

When the new coronavirus hit Tanzania in mid-April, President John Magufuli called for three days of national prayer to seek God’s protection from the scourge. Barely a month later, he claimed victory over the disease and invited tourists to return to his East African nation.
The Monetary Policy Committee (MPC) of the South African Reserve Bank decided to cut the repo rate by 100 basis points. This takes the repo rate to 4.25 per cent per annum, the bank said in a statement.

South African central bank reduces bond purchases to R5 billion in June

The South African central bank reduced its government bond purchases to 5 billion rand ($292.64 million) in June, half the monthly average, bringing its bond holdings to 35.9 billion rand, data showed on Tuesday.
South African Rand coins are seen in this photo illustration. REUTERS-Mike Hutchings

South Africa rand up as risk appetite revives

Rising coronavirus infections in the United States have discouraged some investors from taking big positions in the currency market, but most remain focused on the growing likelihood that major economies will continue to recover.
“I am breathing again,” sighs Kanto Razafimandimby, on her first night out since South Africa reopened its restaurants and casinos as part of a gradual loosening of lockdown, even as the number of coronavirus continues to rise.

South Africa reopens restaurants as virus cases rise

“I am breathing again,” sighs Kanto Razafimandimby, on her first night out since South Africa reopened its restaurants and casinos as part of a gradual loosening of lockdown, even as the number of coronavirus continues to rise.
Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS-Thomas White-Illustration

South African rand opens stronger after positive data

South Africa’s rand opened stronger on Friday and was on course for gains of roughly 2% against the dollar this week, after the first current account surplus in 17 years and an upbeat U.S. jobs report.
Container ships wait to load and offload goods in port during a 21-day nationwide lockdown aimed at limiting the spread of coronavirus disease (COVID-19) in Cape Town, South Africa, April 17, 2020. REUTERS-Mike Hutchings

South Africa’s current account balance swings to a surplus in first quarter

South Africa’s current account balance swung to a surplus of 1.3% of gross domestic product (GDP) in the first quarter of 2020 from a deficit of 1.3% of GDP in the previous three months, central bank data showed on Thursday.
Struggling petrochemicals producer Sasol has appointed advisers to sell its stakes in a power plant in Mozambique and a gas pipeline running from the country into South Africa, two sources familiar with the matter told Reuters.

Sasol to sell stakes in Mozambique pipeline, power plant

Struggling petrochemicals producer Sasol has appointed advisers to sell its stakes in a power plant in Mozambique and a gas pipeline running from the country into South Africa, two sources familiar with the matter told Reuters.
Visitors are seen at the entrance of Gold Reef City and casino. REUTERS-Siphiwe Sibeko

South Africa to reopen casinos and cinemas despite coronavirus spread

South Africa will allow casinos and cinemas to reopen and restaurants to resume sit-down meals on Monday in a further easing of coronavirus lockdown restrictions despite a sharp rise in infections.

UK Export Finance set to back Total’s $20 bln Mozambique LNG project

Britain’s export credit agency UK Export Finance (UKEF) is set to back a $20 billion liquefied natural gas (LNG) project in Mozambique, a source with direct knowledge of the matter told Reuters on Friday.
The highly elated Nigerians were flown into the country on board Air Peace airline.

Nigeria evacuates 167 nationals from South Africa

The federal government has evacuated 167 Nigerians from South Africa and are now en route to Nigeria, the Minister of Foreign Affairs, Geoffrey Onyeama, said.
The Congolese government will try to financially support mining companies who need help as the COVID-19 pandemic disrupts the industry, Congo’s mines minister Willy Kitobo Samsoni said on Wednesday.

Congo can help mining firms affected by coronavirus – minister

The Congolese government will try to financially support mining companies who need help as the COVID-19 pandemic disrupts the industry, Congo’s mines minister Willy Kitobo Samsoni said on Wednesday.
South African authorities have apprehended eight people suspected of illegally siphoning 2.3 billion rand ($133.87 million) from small lender VBS Mutual Bank, which collapsed in 2018 because of the corruption scandal.

Eight suspects arrested in South Africa’s ‘biggest bank robbery’ fraud case

South African authorities have apprehended eight people suspected of illegally siphoning 2.3 billion rand ($133.87 million) from small lender VBS Mutual Bank, which collapsed in 2018 because of the corruption scandal.
People practice social distancing as they queue outside a Telkom branch during the coronavirus disease (COVID-19) outbreak in Johannesburg, South Africa, June 2, 2020. REUTERS-Marius Bosch

South Africa’s Telkom flags 70% fall in annual earnings

South African telecom firm Telkom predicted an up to 70% fall in annual earnings on Monday due to once-off costs relating to job cuts and impairments.
South African Rand coins are seen in this photo illustration. REUTERS-Mike Hutchings

South African rand weaker as second wave fears hurt markets

South Africa’s rand opened weaker on Monday as investors sold riskier currencies on fears of a second wave of the coronavirus in Beijing.
The logo of South Africa's Discovery group in seen on its headquarters in Sandton, Johannesburg, South Africa, February 20, 2020. REUTERS-Mike Hutchings

South African insurer warns of up to 90% decline in profits

South Africa’s Discovery said on Monday its full-year profits could fall by up to 90%, accounting for an estimated 3.3 billion rand ($191.03 million) provision for the potential impact of the coronavirus outbreak and the impact of interest rates.
Electricity pylons carrying power from Koeberg nuclear power plant are seen in Cape Town, South Africa, on July 11, 2018. REUTERS-Sumaya Hisham-File Photo

South Africa consults with industry on nuclear power plans

South Africa’s energy ministry on Sunday began consultations with industry on preparations for a proposed 2,500 megawatt (MW) nuclear power plant building programme, which has faced opposition from environmental campaigners.
South African Rand coins are seen in this photo illustration. REUTERS-Mike Hutchings

South African rand falls as risk appetite wanes on US protests, Sino-US tensions

The South African rand fell against the dollar in early trade on Tuesday, amid growing concerns over U.S.-China tensions and rising violent protests across the United States.

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In a statement by its National Coordinator, Comrade Emmanuel Onwubiko and the National Media Affairs Director, Miss Zainab Yusuf, HURIWA alleged that some lawmakers were conniving with armed terrorists to introduce “satanic legislation.”

HURIWA advocates non-politicized EFCC leadership

The Human Rights Writers Association of Nigeria, HURIWA, has called on President Muhammadu Buhari to appoint “a capable hand” to head the Economic and Financial Crimes Commission, EFCC.
Ahmad said the Executive Chairman of FIRS, Muhammad Nami, disclosed this at the inauguration of the Inter-Ministerial Committee on Audit and Recovery of Back Years Stamp Duties and the unveiling of the FIRS Adhesive Stamp in Abuja.

FIRS extends tax debt payments

The Federal Inland Revenue Service (FIRS) has further extended the closing date of its waiver of penalty and interest window on tax debts owed by individuals and businesses from June 30, 2020 to August 31st, 2020.
Global leaders called for a comprehensive approach to counter the impact of the coronavirus pandemic, which International Labour Organisation (ILO) chief Guy Ryder said on Wednesday had plunged the world of work into “unprecedented crisis”.

ILO: Coronavirus pandemic plunges working world into crisis

Global leaders called for a comprehensive approach to counter the impact of the coronavirus pandemic, which International Labour Organisation (ILO) chief Guy Ryder said on Wednesday had plunged the world of work into “unprecedented crisis”.
All Progressives Congress (APC) Nigeria

Akwa Ibom APC faults President Buhari’s ‘unfamiliar method’ of appointment

Akwa Ibom State Chapter of All Progressive Congress (APC) has faulted President Muhammadu Buhari over what it described as “unfamiliar method” adopted in appointing people from the state to political offices without reference to the party.
Governor Atiku Bagudu of Kebbi State 2

Kebbu governor appoints councillor, five new district heads

Gov. Abubakar Bagudu of Kebbi State has approved the appointment of five new District Heads and a Councillor in Argungu Emirate Council of the state.