American firms have pledged billions of US dollars to projects across Africa in the ongoing US-Africa Leaders Summit. Visa plans to spend US$1 billion (R17 billion) across all 54 African countries, expanding its footprint and technology platforms in the next five years. Some of the money will go towards local strategic partnerships with governments, local financial institutions, mobile operators, FinTech, and merchants.

The US government is exploring ways of renewing a preferential trade programme that gives countries in sub-Saharan Africa preferential access to US markets, allowing them to export products tariff-free.

FTX Co-Founder Sam Bankman-Fried was accused by US regulators of carrying out a multi-year scheme to defraud investors.

The US’s resolve to claw back lost influence in Africa will be put to the test this week when dozens of the continent’s leaders and officials gather for three days of talks with their American counterparts in Washington.

Uganda said on Friday it would not renew South Africa power firm Eskom’s licences to run two hydropower stations when they expire in March next year, as part of plans to bring the electricity sector under government control to reduce costs to consumers.

The UK approved opening its first deep coal mine in more than 30 years, risking backlash from activists portraying the project as a backward step in meeting ambitious climate goals.

Developing nations may need to find as much as US$2.5 trillion over five years to meet external debt-service costs as interest rates rise and poorer countries struggle to refinance borrowings, a Finance for Development Lab model shows.

Seven African stock exchanges launched an integration project in Ivory Coast on Wednesday to facilitate cross-border trading of securities on the continent.

Short-term insurer OUTsurance, which recently completed its transition and rebrand from Rand Merchant Investment Holdings (RMI), listed on the Johannesburg Stock Exchange on Wednesday.

Specialist recruitment firm Michael Page has published its latest salary guide, showing what skilled professionals in South Africa can expect to earn in 2023.

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