South Africa’s Rand opened firmer on Wednesday, extending gains from the previous session as signs of thawing US-China trade tensions boosted risk appetite, while a jump in industrial output locally also spurred demand for the currency.
Egypt’s central bank wants the World Bank and International Monetary Fund (IMF) to include the country’s informal sector in their gross domestic product figures and other macro-indicators for Egypt, the bank’s Deputy Governor, Gamal Negm said.
Implied volatility on South Africa's Rand rose by its most since the last Finance Minister reshuffling in October, amid worries over the country's sovereign credit ratings, power supply interruptions and next year's elections.
South Africa’s Famous Brands said on Tuesday its United Kingdom-based unit, Gourmet Burger Kitchen (GBK), has closed 14 out of 17 under-performing stores following the approval of a restructuring plan by creditors.
Egypt's El Sewedy ElectricCo and Arab Contractors will be involved in building a $3 billion hydro-electric plant in Tanzania that is to more than double the country's power generation capacity, the Tanzanian Energy Minister said.