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Thungela Resources Limited reported a headline loss per share of $0.38 for 2025, down from earnings of $1.50 in 2024, amid a 17% revenue decline to $1.73 billion. The sharp drop in export prices and significant impairments of $514 million highlight challenges.

The IMF report comes after Africa’s industrialised nation recorded its fifth consecutive quarter of expansion, with gross domestic product rising 0.4% in Q4 2025 pushing annual growth to 1.1% — the highest since 2022.

South Africa’s National Treasury warns of limited capacity to shield the economy from a looming fuel price crisis due to escalating Brent crude oil prices. With the potential for record fuel price hikes and rising inflation, local businesses may pass costs to consumers.

Kenya has raised $820 million from the IPO of its state-owned pipeline company — a first for Africa’s oil and gas sector, and a template for how governments can unlock capital without losing control.
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Morocco’s central bank, Bank Al-Maghrib, has maintained its benchmark interest rate at 2.25%, reflecting a supportive policy amid an upgraded economic growth projection of 5.6% for 2026, primarily driven by a significant agricultural rebound.

For decades, moving money across Africa has often taken a strange and long-winding route. A Kenyan entrepreneur paying a supplier in Ghana might see the payment leave Nairobi, pass through banks in Europe or the United States

The payments, which include both installments on borrowed sums and interest charges, reflects 24.5% of the government’s total revenue of $11.81 billion (KSh1.53 trillion) over the same period.

African equities entered 2025 with caution. Inflation was still biting in several economies, currencies were volatile, and foreign investors remained selective about frontier exposure.