JOHANNESBURG (Reuters) – South Africa’s MTN has appointed a new regulatory affairs chief, a spokesman said on Monday, after a large fine in Nigeria dragged Africa’s biggest mobile operator by users to its first-ever half-yearly loss.

The firm, which had been fined $1 billion by Nigeria for missing a deadline to disconnect inactive SIM cards, was last month also accused by lawmakers of illegally transferring $14 billion out of Africa’s most populous nation. MTN has denied the accusation. [nL8N1C416H][nL8N1AM180]

MTN said it had appointed Felleng Sekha, a South African, as its new executive for regulatory affairs and public policy effective from October 10.

Sekha has extensive regulatory experience and previously worked at MTN in various roles, including for five years in Nigeria as executive director for corporate services, well before the complaints that led to the fine.

“Felleng will… shape public policy and regulatory outcomes which are key to MTN achieving its business objectives,” said MTN spokesman Chris Maroleng.

(Reporting by TJ Strydom; Editing by James Macharia)

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By Andreas Rinke

NIAMEY (Reuters) – German Chancellor Angela Merkel promised cash and military vehicles on Monday to help Niger fight human traffickers and militant Islamists, trying to bolster a country that is a key staging post for migrants trying to reach Europe.

Merkel, under intense political pressure at home for allowing nearly a million migrants into Germany last year, was on the second leg of a three-country African tour that started in Mali and will finish in Ethiopia.

She admitted after meeting Niger’s President Mahamadou Issoufou that her goal of stabilising African countries by creating better economic conditions, thereby tackling one of the root causes of migration, could only be reached in the long term.

“But this cannot be an excuse for not trying to achieve short-term success,” Merkel told a news conference.

She said Germany would support Issoufou’s government with 77 million euros ($86 million) to combat people-smuggling and illegal migration in the central Agadez region.

Germany would also help Niger’s armed forces in their fight against militant Islamists by offering military vehicles and other equipment worth 10 million euros, she said.

Issoufou welcomed Merkel’s pledge, but said more money from EU countries was needed to tackle the migration challenge. “We need massively more aid,” he said.

The European Union has pledged support for African countries worth 1.8 billion euros, but Niger alone had identified a financial need of 1 billion, the president said.

Roughly 90 percent of migrants who reach the Libyan post, a jumping-off point for the dangerous Mediterranean crossing to Italy, cross through Niger, making it a crucial partner for Europe in controlling migration flows.

Germany, France and Italy have said they want to develop particularly closer relationships with Niger and neighbouring Mali. Merkel is the first German chancellor ever to visit Niger, one of the world’s poorest countries.

The chancellor has described Africa, with its population of 1.2 billion people, as “the central problem” in the migration issue. Last month she said the EU needed to establish deals with North African countries along the lines of its agreement with Turkey to curb migrant flows across its territory to southeast Europe.

Merkel will travel on to Ethiopia on Tuesday, on the last leg of her first extended trip to Africa since 2011. [nL5N1CD1PN] [nL8N1CF0VD]

($1 = 0.8928 euros)

(Reporting by Andreas Rinke, Writing by Michael Nienaber, Editing by Mark Trevelyan)

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ABIDJAN (Reuters) – Ivory Coast cocoa exporters said on Wednesday they had not received cocoa bean deliveries from inland farms for several days because many buyers have been temporarily blocked out of a booking system.

The 2016/17 cocoa season began last week and international traders are keeping a close eye on port arrivals to gauge supplies from the world’s top grower.

“We have not received beans because the suppliers are not up to date and therefore don’t have system access,” said an Abidjan-based exporter, referring to the SYDORE booking system.

Exporters in the two main ports of San Pedro and Abidjan said that the cleaning and drying of beans in preparation for export had halted due to the lack of deliveries.

The Coffee and Cocoa Council (CCC) confirmed the suspensions, saying that they were for failure to prove compliance with tax regulations. A CCC official said it hoped to have all buyers back in the system by month-end.

Some buyers said they have already met the regulatory requirements, which existed in previous seasons but were not strictly enforced, and expected to be able to resume activities next week.

(Reporting by Ange Aboa; Writing by Emma Farge; Editing by Susan Fenton and Adrian Croft)

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LUSAKA (Reuters) – Zambia has told the International Monetary Fund (IMF) it will gradually cut subsidies amounting to about $1 billion as part of an economic recovery plan, Finance Minister Felix Mutati said.

Africa’s second-biggest copper producer will also boost funds for social welfare, Mutati said during talks with IMF officials at the lender’s annual meetings, a finance ministry statement released late on Sunday said.

The statement did not specify which subsidies would be trimmed. Zambian government subsidies include about $600 million annually for electricity and fuel.

(Reporting by Chris Mfula; Editing by Ed Stoddard and Joe Brock)

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JOHANNESBURG (Reuters) – South Africa’s rand weakened on Thursday as bets on a December U.S. rate rise brought emerging currencies under pressure, while stocks ended slightly weaker as gold and platinum mining shares slid on lower precious metal prices.

The benchmark Top-40 index closed down 0.6 percent at 45,051 points while the All-Share index fell 0.5 percent to 51,611 points.

At 1530 GMT, the rand traded at 13.8550 per dollar, 1 percent weaker from its New York close.

Recent figures from the world’s largest economy, the latest on Wednesday showing U.S. services sector activity soaring to an 11-month high, have helped the case for the Fed to raise interest rates, most likely in December.

Investors were already looking to U.S. jobs data on Friday for pointers on the timing of the next U.S. interest rate hike.

“Tomorrow, of course, will be more interesting but that only adds to today’s malaise as global markets have already gone into their typical pre-payrolls slumber,” Rand Merchant Bank analyst John Cairns said in a note.

“Fed hike talk though is much more realistic. Our expectation of a December move was given credence by both the sharp rebound in the U.S. ISM (Institute for Supply Management) services sector indicator and some mildly hawkish talk from Fed members.”

On the stock market, lower precious metals prices hurt mining stocks, with Sibanye Gold shedding 3.3 percent to 39.98 rand after bullion fell to a three-month low on raised prospects for a rate hike by the Fed.

Gold’s losses dragged platinum lower, pushing the shares of major producer Lonmin down 4.1 percent to 33.68 rand.

Petrochemical firm Sasol, which rose on a firmer crude price, was the best performing blue-chip stock, gaining 1.7 percent to 388.32 rand.

“Brent crude broke decisively through the $50 barrier and the rand is a bit weaker and that is just what Sasol needs,” said Cratos Capital equities trader Greg Davies.

Trade was muted with around 238 million shares changing hands, compared with last year’s daily average of 296 million.

In fixed income, the yield for the benchmark government bond due in 2026 dipped 1 basis points to 8.705 percent.

(Reporting by Olivia Kumwenda-Mtambo and TJ Strydom; Editing by Ed Cropley)

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JOHANNESBURG (Reuters) – South Africa’s rand hovered near a one-week low versus the dollar on Friday, on increased bets by investors that a U.S. interest rate hike is on the cards this year.

* Rand falls to session low of 13.9425, weakest since Sept 30, and trades 0.31 percent softer at 13.9350/dollar by 0655 GMT compared with Thursday’s close.

* Currency largely unmoved by central bank data showing South Africa’s net foreign reserves rose to $41.953 billion in September from $40.795 billion the previous month.

* Government debt also weakens across the curve, and yield for 10-year paper rises 3 basis points to 8.745 percent.

* South African bourse likely to open weaker, with blue chip futures index dipping 0.39 percent.

(Reporting by Stella Mapenzauswa; editing by John Stonestreet)

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ALGIERS (Reuters) – OPEC could cut production at its November meeting in Vienna by another one percent more than the amount agreed in Algiers last month, if producers evaluate it is needed, Algeria’s Energy Minister Nouredine Bouterfa has told local Ennahar TV.

“We will evaluate the market in Vienna by the end of November and if 700,000 barrels are not enough, we will go up. Now that OPEC is unified and speaks in one voice everything is much easier and if we need to cut by 1 percent, we will cut by 1 percent,” he told Ennahar in an interview to be broadcast later on Thursday.

(Reporting by Lamine Chikhi; writing by Patrick Markey. Editing by Jane Merriman)

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