Gold prices edge higher on short covering.
The Fed’s 25-basis-point reduction on Dec. 18 and the cautious note struck by its economic projections and expectations of fewer cuts in 2025 pushed gold to its lowest since Nov. 18 last week.
African Commodities
Government Fixes Minimum Producer Prices For Second Season Of Mango, 2025 Cashew Season
The Authority has also introduced regulations and pricing mechanisms, collaborated with the World Bank on diversification projects, and initiated the licensing of aggregators and processors to boost international market competitiveness.
Egypt is Projected to Privatize Wataniya Petroleum in 2025.
The Egyptian government has returned to the talk of privatisation of a dozen or more state owned enterprises.
Dangote transfers gasoline to Cameroon by means of Neptune Oil.
Dangote Refinery and Neptune Oil have jointly announced the first ever export of 60,000 Metric Tons of Premium Motor Spirit (PMS) from Dangote Refinery, Africa’s largest oil refinery to Cameroon.
Gold poised for weekly advantage ahead of Fed’s promising rate cut decision.
Traders are now focused on the Fed’s Dec. 17-18 meeting, with markets predicting a 96.4% chance of a 25-basis-point rate cut, according to the CME Group’s FedWatch Tool.
Lawsuit accuses major food companies of promoting ‘addictive’ food to kids
Food described by researchers as “ultra-processed” includes many packaged snack foods, sweets and soft drinks made with substances extracted from whole foods or synthesized artificially.
Oil little changed as IEA excess forecast offsets rate cut optimism
The International Energy Agency (IEA) said it expected the oil market to be comfortably supplied next year, even as it made a slight upward revision to its demand outlook for next
Rising commodity prices significantly boosted government revenues across Africa in 2022.
Higher commodity prices boosted non-tax revenues, which averaged 6.2% of GDP in the 35 countries with available data, an increase of 0.4 p.p. from the previous year.
Top 5 African countries with the lowest grocery prices at the end of 2024
Low pricing can help close the gap between scarcity and abundance in areas where food insecurity is still a major problem, lowering hunger and promoting residents’ physical and mental health.
COPEC Predicts Slight Fuel Price Reduction in November’s Second Pricing Window
Senegal is set to hold parliamentary elections this weekend, where former presidential rivals Prime Minister Ousmane Sonko and ex-President Macky