Reuters Africa Business

TotalEnergies CEO says Mozambique LNG project cost still $20 billion

30 Oct 2025

By America Hernandez PARIS (Reuters) -French oil major TotalEnergies will be able to restart its Mozambique LNG project quickly, with a budget at $20.5 billion, CEO Patrick Pouyanne told investors on Thursday.  Pouyanne said media were incorrectly interpreting his letter to Mozambique’s president, which requests approval for a cost increase of $4.5 billion related to …

TotalEnergies CEO says Mozambique LNG project cost still $20 billion Read More »

Botswana hikes key rate as liquidity squeeze pushes market rates higher

30 Oct 2025

GABORONE (Reuters) -Botswana’s central bank hiked its main interest rate by 160 basis points on Thursday to try to narrow the gap with market lending rates, which have been driven higher by a liquidity squeeze caused by an economic slump. The decision takes the Southern African country’s Monetary Policy Rate to 3.5%, up from 1.9% …

Botswana hikes key rate as liquidity squeeze pushes market rates higher Read More »

Nigerian oil firm NNPC seeks equity partners to revive refineries, CEO says

30 Oct 2025

By Isaac Anyaogu LAGOS (Reuters) -Nigerian state-owned oil firm NNPC Ltd is seeking technical equity partners to help revive three of its refineries which have remained idle despite significant investments, its chief executive said on Thursday. The refineries, with a combined capacity of 445,000 barrels per day, alongside the Dangote Petroleum Refinery, could help Nigeria …

Nigerian oil firm NNPC seeks equity partners to revive refineries, CEO says Read More »

South Africa’s Dis-Chem posts 9% rise in half-year earnings

30 Oct 2025

By Siyanda Mthethwa JOHANNESBURG (Reuters) -South African pharmacy chain Dis-Chem Pharmacies reported a 9% increase in half-year earnings on Thursday, helped by strong wholesale revenue growth. Wholesale revenue grew by 11.1% to R16.8 billion during the period and is the biggest contributor to group revenue, which grew by 8.7% to 21.3 billion rand ($1.23 billion). …

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Mali revokes over 90 mining exploration permits for non compliance

29 Oct 2025

ACCRA (Reuters) -Mali has revoked more than 90 mining exploration permits, including those held by subsidiaries of international mining companies, according to an official decree seen by Reuters. Companies affected include local subsidiaries of Harmony Gold, IAMGOLD, Cora Gold, Birimian Gold, and Resolute Mining. The holders failed to comply with new legal requirements, the mines …

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Nigerian parliament approves $2.85 billion foreign borrowing plan, including debut sukuk

29 Oct 2025

ABUJA (Reuters) -Nigeria’s parliament on Wednesday approved President Bola Tinubu’s request to borrow $2.85 billion from international debt markets, including the country’s first-ever issuance of a sovereign sukuk. Tinubu asked parliament earlier this month to approve new international borrowing and authorise the issuance of a $500 million debut sovereign sukuk. The new funds would be …

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Kemet, Al Qalaa Red Flag to invest $3.5 billion in Suez Canal Economic Zone’s Ain Sokhna – statement

29 Oct 2025

CAIRO (Reuters) -Egypt’s Kemet Industries Group signed a memorandum of understanding with Emirati-Chinese Al Qalaa Red Flag group to build three industrial projects in Suez Canal Economic Zone’s Ain Sokhna Industrial Zone, SCZONE said in a statement on Wednesday. The total expected investment cost for the three planned projects under this cooperation is estimated at …

Kemet, Al Qalaa Red Flag to invest $3.5 billion in Suez Canal Economic Zone’s Ain Sokhna – statement Read More »

Liberia replaces mines minister amid talks on US investments

29 Oct 2025

MONROVIA (Reuters) -Liberia has replaced its mining minister and top mining regulator, the office of President Joseph Boakai announced, as the West African nation and iron ore producer pursues talks with Washington on investments in its critical minerals sector. The new minister, R. Matenokay Tingban, served as deputy mining minister under former President Ellen Johnson …

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