Africa-news

Africa-news (598)

Mozambique ruled out reworking its sole $900 million Eurobond, even as delays in giant liquefied natural gas projects because of an Islamic State-linked insurgency cost it revenue, the Finance Ministry said.

Work is due to begin on Botswana’s second privately-owned coal mine in the first quarter of next year, the CEO of Maatla Resources told Reuters, despite calls to abandon coal.

Zimbabwe stocks have paused for breath after soaring about 370% in 2021, a breakneck rally spurred by investors turning to the bourse as a haven against inflation.

MTN Group plans to sell shares in the carrier’s Nigeria unit worth about 101 billion naira (R3.7 billion), continuing a plan to sell assets and pay down debt.

Anglo American has appointed Duncan Wanblad as its new CEO, replacing Mark Cutifani who is retiring next year after nine years in the role, the mining conglomerate announced on Wednesday.

Old Mutual’s private equity arm is in talks to buy Long4Life, the investment company founded by entrepreneur Brian Joffe, according to people familiar with the matter. 

South African fuel prices will hit record highs as of Wednesday, with the price of petrol spiking to over R19.50 a litre in the economic hub of Gauteng and other inland provinces.

Germany will give €700 million (R12.5 billion) towards helping South Africa phase out the use of coal, the German delegation at the COP26 climate talks in Glasgow.

While the return of load shedding is not unexpected, it will significantly impact the country’s economy and will lead directly to further job losses, says professional services firm PwC.

Southern Africa's transport operators are facing several challenges, but among the chief concerns is the rising cost of jet fuel.

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