Reuters Africa Business

South African rand flat after stats agency reports softer Q3 economic growth

2 Dec 2025

JOHANNESBURG, Dec 2 (Reuters) – The rand traded flat on Tuesday after South Africa’s statistics agency reported softer economic growth in the third quarter compared to the previous. At 1507 GMT, the rand traded at 17.1125 against the dollar, a whisker away from Monday’s close. Africa’s biggest economy grew 0.5% in seasonally adjusted quarter-on-quarter terms, …

South African rand flat after stats agency reports softer Q3 economic growth Read More »

OPEC+ members to undergo annual oil capacity audit under new plan, sources say

2 Dec 2025

By Alex Lawler, Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW, Dec 2 (Reuters) – OPEC+ members will undergo an annual assessment of their oil production capacity starting next year for use in 2027, OPEC+ sources said, to ensure that the group sets output quotas that are more closely aligned with each country’s real capacity. This follows …

OPEC+ members to undergo annual oil capacity audit under new plan, sources say Read More »

TotalEnergies says Mozambique LNG partners to provide additional equity

2 Dec 2025

By America Hernandez PARIS, Dec 2 – French oil major TotalEnergies and its fellow partners on the $20 billion Mozambique LNG project have agreed to provide additional equity to replace the previous contributions of British and Dutch export credit agencies, it said on Tuesday.  The UK and Dutch agencies represented about 10% of the $15.4 …

TotalEnergies says Mozambique LNG partners to provide additional equity Read More »

Nigeria’s oil content board unveils $100 million equity fund to support local producers

2 Dec 2025

YENAGOA, Nigeria, Dec 2 (Reuters) – Nigeria’s oil and gas content regulator on Tuesday announced a $100 million equity investment scheme to boost indigenous participation in the energy sector and said it would tighten compliance rules from next year. Felix Ogbe, executive secretary of the Nigerian Content Development and Monitoring Board (NCDMB), told the Practical …

Nigeria’s oil content board unveils $100 million equity fund to support local producers Read More »

South Africa’s economy slows in third quarter but investment a bright spot

2 Dec 2025

By Kopano Gumbi PRETORIA, Dec 2 (Reuters) – South Africa’s economic growth slowed in the third quarter of 2025 as expected, but analysts heralded a pickup in fixed investment for the first time in a year as a bright spot that could lift the future growth rate if sustained. Africa’s biggest economy grew 0.5% in …

South Africa’s economy slows in third quarter but investment a bright spot Read More »

Mali recovers $1.2 billion in arrears from miners, eyes annual windfall under new code

2 Dec 2025

BAMAKO, Dec 2 – Mali has recovered 761 billion CFA francs ($1.2 billion) in arrears from mining companies following a sweeping audit, its finance minister said, marking one of the country’s biggest clawbacks from its extractive sector. The military-led government launched an audit of Mali’s mining sector in early 2023 that uncovered massive shortfalls for …

Mali recovers $1.2 billion in arrears from miners, eyes annual windfall under new code Read More »

Namibia’s president appoints new mines, energy and industry minister

2 Dec 2025

WINDHOEK, Dec 2 (Reuters) – Namibia’s president on Tuesday appointed Modestus Amutse as the Southern African country’s new minister of mines, energy and industry. Amutse’s appointment comes after President Netumbo Nandi-Ndaitwah removed Natangwe Ithete from the position in October. Resource-rich Namibia is aiming for its first crude oil production by 2030 after several major discoveries …

Namibia’s president appoints new mines, energy and industry minister Read More »

Merafe begins layoffs as electricity tariff proposal fails to save South African smelters

2 Dec 2025

JOHANNESBURG, Dec 2 (Reuters) – Merafe Resources said on Tuesday its chrome joint venture with Glencore has begun formally laying off workers after an electricity tariff proposal failed to secure the viability of two of its South African ferrochrome smelters. South Africa holds approximately 80% of the world’s known chrome ore reserves, according to Glencore, …

Merafe begins layoffs as electricity tariff proposal fails to save South African smelters Read More »

Targa strengthens Permian presence with $1.25 billion deal for midstream firm

1 Dec 2025

Dec 1 (Reuters) – Pipeline operator Targa Resources said on Monday it would buy Stakeholder Midstream in a $1.25 billion all-cash deal, expanding its processing capacity in the key Permian Basin. Dealmaking in the midstream sector has been picking up pace as companies look to cut costs or add scale and gain access to attractive …

Targa strengthens Permian presence with $1.25 billion deal for midstream firm Read More »

Close Bitnami banner
Bitnami