Reuters Africa Business

Namibian president takes over ministry of mines, energy and industry

26 Oct 2025

WINDHOEK (Reuters) -Namibia’s President Netumbo Nandi-Ndaitwah has removed Natangwe Ithete from his posts as deputy prime minister and minister of industry, mines and energy, the presidency said in a statement on Sunday. “In the interest of ensuring continuity and effective coordination within this key sector, President Nandi-Ndaitwah will assume responsibility for the Ministry of Industry, …

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TotalEnergies tells Mozambique LNG project costs have risen by $4.5 billion

26 Oct 2025

CAPE TOWN (Reuters) -TotalEnergies has told Mozambique that the costs of its liquefied natural gas (LNG) project in the country have risen by $4.5 billion in the four years it was on hold, and it wants its production agreement extended by a decade, a letter from its chief executive showed. The French oil major had …

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TotalEnergies and partners lift force majeure on $20 billion Mozambique LNG project

25 Oct 2025

(Reuters) -French oil major TotalEnergies said it, along with its project partners, had lifted force majeure on their $20 billion Mozambique LNG project, four years after an Islamist militant attack brought construction to a halt. Notice was sent to the Mozambican government via letter on Friday, a TotalEnergies press officer said. The company said, however, …

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Stocks jump after US inflation data; US dollar nearly flat

24 Oct 2025

By Caroline Valetkevitch NEW YORK (Reuters) -Major stock indexes rose on Friday, with all three major U.S. stock indexes posting record closing highs after news that U.S. inflation rose less than expected last month, while the U.S. dollar index was nearly flat. The U.S. Consumer Price Index rose 0.3% last month, slightly less than the expected …

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South Africa, Nigeria exit global financial crime watch list

24 Oct 2025

By Colleen Goko, Sfundo Parakozov and Anathi Madubela JOHANNESBURG (Reuters) -Sub-Saharan Africa’s largest economies, South Africa and Nigeria, have been removed from a global watchdog’s list of countries subject to increased monitoring for illicit money flows. The Paris-based Financial Action Task Force (FATF) made the announcement at the end of a plenary meeting on Friday, …

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Congo’s cobalt producers still waiting for export approvals, sources say

24 Oct 2025

By Tom Daly, Dylan Duan and Ange Kasongo LONDON/SHANGHAI/KINSHASA (Reuters) -Cobalt producers in the Democratic Republic of Congo are still waiting for government approval to resume exports under a quota system introduced on October 16 that was expected to restart shipments immediately, four industry sources told Reuters. The system replaced a months-long export suspension that …

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US consumer prices increase less than expected in September

24 Oct 2025

NEW YORK (Reuters) -U.S. consumer prices rose slightly less than expected in September, preserving market expectations the Federal Reserve will cut interest rates at its policy meeting next week.  The Consumer Price Index (CPI) rose 0.3% last month after climbing 0.4% in August, the Labor Department’s Bureau of Labor Statistics said on Friday. In the 12 …

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StanChart to sell Ugandan wealth and retail banking business to Absa

24 Oct 2025

(Reuters) -Standard Chartered has agreed to sell its wealth and retail banking business in Uganda to South African lender Absa Group for an undisclosed amount, the companies said on Friday. Standard Chartered said last year it was looking to exit its wealth and retail banking operations in Botswana, Uganda and Zambia to focus on more …

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China’s CMOC to invest $1.1 billion to expand its KFM copper mine in DRC

24 Oct 2025

SHANGHAI (Reuters) -China’s CMOC Group will spend $1.08 billion to expand its KFM copper mine in the Democratic Republic of Congo to add about 100,000 metric tons of output per year, it said on Friday. It will launch the second phase of its KFM project in 2027. The first phase of KFM reached full capacity …

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