标签： Africa

The South African rand experienced a slight decline on Thursday as investors awaited the South African Reserve Bank’s (SARB) interest rate decision. By 0622 GMT, the rand was trading at 17.45 against the US dollar, marking a 0.3% drop from its previous close. Economists surveyed by Reuters anticipate that the central bank will maintain its benchmark lending rate at 7.00%, despite a surprising slowdown in headline inflation for August, driven by lower fuel and food prices. Independent economist Elize Kruger noted that while the August inflation data aligns with the SARB’s target of 3%, elevated inflation expectations and a projected rise to 4.2% by December 2025 are likely to deter any rate cuts. However, some analysts suggest that the softer inflation figures could prompt a closely contested decision. Meanwhile, South Africa’s benchmark 2035 government bond remained stable in early trading, with yields edging up by half a basis point to 9.175%. The market remains watchful as the SARB’s announcement could influence future economic trajectories.

In a significant move for Peru’s energy sector, President Dina Boluarte announced the formalization of a modified hydrocarbon exploration and exploitation contract on Wednesday, September 17, 2025. The agreement paves the way for U.S. energy giants Chevron and Westlawn to enter the Peruvian market through a consortium operated by Anadarko, a subsidiary of Occidental Petroleum. The consortium will focus on three offshore blocks—Z-61, Z-62, and Z-63—located in Peru’s northern La Libertad region. President Boluarte emphasized that Chevron’s involvement, as the world’s third-largest oil company, underscores Peru’s reputation as a reliable and stable destination for large-scale investments. She expressed optimism that successful exploration could lead to an energy renaissance, fueling decades of economic growth. The consortium’s ownership structure allocates 35% stakes to Chevron and Anadarko, with Westlawn holding the remaining 30%. The initial phase of exploration is backed by a $100 million investment, as previously announced by the government. The contract amendment was signed by executives from the three companies and Perupetro, Peru’s state regulator. Pedro Romero, Occidental Petroleum’s vice president of international exploration, hailed the project as the culmination of years of preparation and the start of a promising new chapter in Peru’s energy landscape.

In a landmark decision, South Africa’s Supreme Court of Appeal has nullified a government permit granted to state utility Eskom for the construction of a 3,000-megawatt natural gas power plant in Richards Bay. The court ruled that the project lacked proper public consultation, rendering the authorization invalid. This ruling mandates Eskom to reapply for the permit after conducting the necessary public participation processes. The proposed plant, part of the government’s strategy to address chronic electricity shortages and reduce reliance on coal, has faced significant opposition from environmental groups. These groups argue that Eskom’s operations have historically caused environmental injustices and pollution in nearby communities. The judgment aligns with previous rulings against energy companies that failed to engage affected communities adequately. Richards Bay, the site of the planned plant, is also set to host South Africa’s first liquefied natural gas import terminal. Environmental advocates have welcomed the court’s decision, emphasizing the need for accountability and sustainable development. Eskom and the Department of Forestry, Fisheries, and the Environment have yet to comment on the ruling.

In a bold move signaling confidence in Ghana’s economic recovery, the Bank of Ghana announced a record-breaking interest rate cut of 350 basis points on Wednesday, reducing its main rate to 21.5%. This decision marks the second consecutive aggressive rate reduction, following a 300 basis point cut in July, bringing the cumulative reduction to 650 basis points over two meetings. The central bank’s decision reflects a sustained decline in inflation and an improving macroeconomic outlook in the West African nation, renowned for its gold and cocoa production. Economists had anticipated a more modest cut of 200 basis points, but the Monetary Policy Committee (MPC) opted for a more substantial reduction, citing favorable economic conditions. Leslie Dwight Mensah, an economist at the Institute for Fiscal Studies, praised the move, stating, ‘The MPC has been emboldened by the expectation that inflation will soon reach the target range of 8-10%. This is a positive development for the economy, particularly the real economy sector.’ Bank of Ghana Governor Johnson Asiama highlighted the nation’s robust economic growth, with GDP expanding by 6.3% year-on-year in the second quarter of 2025, up from a revised 5.7% in the same period last year. The services sector showed particularly strong improvement. Inflation has also been on a steady decline, dropping for the eighth consecutive month to 11.5% in August, the lowest since October 2021. Asiama expressed optimism that inflation would continue to ease, projecting it to fall within the bank’s target range of 8% (±2%) by the end of the fourth quarter. This rate cut is expected to stimulate economic activity, particularly in sectors sensitive to borrowing costs, further solidifying Ghana’s recovery trajectory.