CAPE TOWN (Reuters) -A South African court has rescinded an environmental authorisation granted to TotalEnergies and its joint venture partner Shell to explore for oil in a block off the Cape coast, a court judgment seen by Reuters showed. However, the court said TotalEnergies should be given a chance to rectify deficiencies identified, including a …
South African court rescinds TotalEnergies oil exploration permit Read More »
By Isaac Anyaogu LAGOS (Reuters) -Nigeria has approved a phased plan to refinance 4 trillion naira ($2.61 billion) in electricity sector debt to help stabilise the nation’s ailing power industry and improve supply, its finance minister said. The debt, primarily owed to 27 power generation companies for outstanding invoices between 2015 and 2023, has stifled …
Nigeria approves $2.6 billion electricity sector debt refinancing plan Read More »
By Camillus Eboh ABUJA (Reuters) -Nigerian President Bola Tinubu on Wednesday set a target of 7% annual economic growth by 2027, aiming to lift millions out of poverty and expand the economy to four times its current size by 2030. Since coming into office in 2023, Tinubu has ended petrol and electricity subsidies and twice …
Nigeria’s Tinubu targets 7% economic growth by 2027 Read More »
MELBOURNE (Reuters) -Australia’s South32 on Thursday flagged a $372 million impairment on its Mozambique aluminium smelter which the miner said it was preparing to mothball as it may not be able to secure affordable power when its supply agreement ends in 2026. The diversified miner has been in protracted negotiations with Mozambique’s government over a …
South32 threatens to shut Mozal smelter as power talks drag on Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell to over two-month lows on Wednesday after bearish supply guidance from the U.S. government and the International Energy Agency, while investors eyed U.S. President Donald Trump’s threat of “severe consequences” if Russia’s Vladimir Putin blocked peace in Ukraine. Brent crude futures settled down 49 cents, or …
Oil hits two-month low as US, IEA supply guidance weighs Read More »
By Nqobile Dludla GQEBERHA (Reuters) -South African auto parts manufacturer Jendamark Automation stands to lose 750 million ($43 million) rand of contracts in a U.S. market it has built up to account for 50% of its exports, its operations director told Reuters. The 40-year-old company based in coastal city Gqeberha builds automated assembly lines for …
South African auto parts group Jendamark braces for US tariff hit Read More »
HARARE (Reuters) -Zimbabwean laboratories are struggling to cope with a surge in mineral samples submitted by mines ramping up exploration activity in response to record gold prices, a mine executive said on Wednesday. Geopolitical tensions, central bank buying and, lately, economic uncertainty fueled by U.S President Donald Trump’s tariffs drove gold prices to a record …
Zimbabwe labs overwhelmed as gold rally spurs exploration, miner says Read More »
DAKAR (Reuters) -The U.N. World Food Programme said on Wednesday it had suspended flights to the northwestern Burkina Faso town of Solle after an explosion near a helicopter it chartered injured a crew member and a government official. The WFP is trying to reach more than 300,000 people during the West African nation’s lean season, …
WFP suspends flights to Burkina Faso town after explosion Read More »
NAIROBI (Reuters) -Kenyan lender KCB Group’s first-half pretax profit rose 7%, helped by higher interest income, the bank said on Wednesday. The group, which also operates in Democratic Republic of Congo, Tanzania, Rwanda, South Sudan, Uganda and Burundi, said first-half pretax profit jumped to 40.83 billion shillings ($317 million) from 38.11 billion shillings in the …
Kenyan lender KCB Group reports 7% rise in first-half pretax profit Read More »
JOHANNESBURG (Reuters) -The South African rand extended its gains on Wednesday, boosted by a weaker dollar after the release of a domestic business confidence index and retail sales figures. At 1310 GMT, the rand traded at 17.54 against the dollar, about 0.4% firmer than its previous close, after strengthening more than 1% on Tuesday. The …
South African rand extends gains after business confidence, retail sales data Read More »
