Reuters Africa Business

South African mobile operator Cell C raises $156 million ahead of listing

24 Nov 2025

By Nqobile Dludla JOHANNESBURG (Reuters) -South African mobile operator Cell C has raised about 2.7 billion rand ($156 million) through a share offer ahead of listing on the Johannesburg Stock Exchange (JSE) this week. The offer, which closed on November 21, priced shares at 26.50 rand each, below a previously set range of 29.50-35.50 rand, …

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Nigeria’s NNPC posts 64% rise in annual net profit to $3.6 billion

24 Nov 2025

By Isaac Anyaogu LAGOS (Reuters) -Nigeria’s state oil company NNPC Ltd said on Monday it recorded a net profit of 5.4 trillion naira ($3.6 billion) in 2024, up 64% from a year earlier. “The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce,” Group Chief Executive Bashir Bayo …

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South Africa’s Harmony Gold to invest up to $1.75 billion in Australian copper project

24 Nov 2025

By Nqobile Dludla JOHANNESBURG (Reuters) -Harmony Gold’s board has approved investment of between $1.55 billion and $1.75 billion to develop its Australian copper project after completion of an updated feasibility study, the South African miner said on Monday. South Africa’s top gold producer by volume is diversifying into copper as gold mining in its home …

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European Investment Bank pledges over 2 billion euros for African renewables projects

24 Nov 2025

LUANDA (Reuters) -The European Investment Bank (EIB) is pledging more than 2 billion euros ($2.3 billion) of financing for renewable energy projects on the African continent over the next two years. The projects will include hydroelectric, solar and wind power plants, as well as the expansion and upgrading of transmission and distribution facilities, the bank …

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Mozambique grants 30-year concession to state firms for LNG facilities, pipeline

24 Nov 2025

CAPE TOWN (Reuters) -Mozambique has granted its top state-owned companies, including national oil firm ENH, a 30-year concession to build and operate natural gas facilities at the Port of Beira and the smaller Inhassoro site, the government said on Monday. Efforts by the Southern African country to develop its oil and gas reserves have been …

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Tanzania to start constructing new port in December, official says

24 Nov 2025

DAR ES SALAAM (Reuters) -Tanzania will start construction of a new port in the east of the country in December, a senior government official said, ending a decade of delays due to government objections to the initial contract terms agreed with foreign developers. Bagamoyo port, a part of the large-scale special economic zone initiative involving …

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South African rand starts week on front foot as global risk appetite improves

24 Nov 2025

JOHANNESBURG (Reuters) -The South African rand started the week on the front foot on Monday, helped by stronger global risk appetite linked to growing expectations of a Federal Reserve interest rate cut next month. The rand and other risk-sensitive assets dropped sharply last week, hurt by concerns over the state of the U.S. economy and …

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South Africa’s G20 debt focus to be tested as US takes the chair

24 Nov 2025

By Colleen Goko JOHANNESBURG (Reuters) -The G20’s leadership is heading away from the Global South just as debt problems in poorer countries threaten to flare again, testing whether the group’s ambitions on debt relief will translate into action under a United States presidency. South Africa on Sunday handed the G20 presidency over to the United …

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World Bank lifts Kenya’s growth forecast on construction sector optimism

24 Nov 2025

By Duncan Miriri NAIROBI (Reuters) -The World Bank lifted Kenya’s economic growth forecast for this year to almost 5% on Monday, citing a pick up in the construction sector in East Africa’s largest economy. Some of Kenya’s main industries like construction suffered last year, partly as concerns mounted about the government’s finances, but the trend …

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South Africa sees US trade negotiations continuing despite G20 differences

23 Nov 2025

JOHANNESBURG (Reuters) -South Africa’s trade minister Parks Tau said on Sunday that he expected negotiations with the U.S. over a trade deal would continue, despite differences between the two countries over this weekend’s Group of 20 summit in Johannesburg. Host nation South Africa pushed through a G20 Leaders’ Declaration at the summit despite objections from …

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