Reuters Africa Business

China’s Canmax resolves lithium offtake dispute with Premier African Minerals

15 Aug 2023

HARARE (Reuters) – China’s Canmax Technologies and Premier African Minerals have resolved their dispute over a lithium concentrate supply contract that was delayed by a defective processing plant, the two companies said on Tuesday. The offtake agreement is for the supply of 48,000 metric tons of spodumene concentrate to Canmax from the London-listed Premier’s Zulu …

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Nigeria files graft charges against detained and suspended cenbank chief

15 Aug 2023

By Camillus Eboh and Elisha Bala-Gbogbo ABUJA (Reuters) – Nigerian prosecutors filed a 20-count indictment against suspended and detained central bank governor Godwin Emefiele on Tuesday, one of them accusing him of “conferring unlawful advantages”, a government lawyer said. President Bola Tinubu, who is embarking on the boldest reforms in Africa’s biggest economy in more …

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Gabon ‘blue bond’ swap raises hopes for wave of African debt-for-nature deals

15 Aug 2023

By Rachel Savage JOHANNESBURG (Reuters) – A $436 million “debt-for-nature” swap by Gabon to fund marine conservation has backers hoping for more such money-saving environmental deals, but some investors still see room for improvement in the increasingly-popular transactions. The central African country, whose beaches and coastal waters are home to the world’s largest population of …

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Gabon ‘blue bond’ swap raises hopes for wave of African debt-for-nature deals

15 Aug 2023

By Rachel Savage JOHANNESBURG (Reuters) – A $436 million “debt-for-nature” swap by Gabon to fund marine conservation has backers hoping for more such money-saving environmental deals, but some investors still see room for improvement in the increasingly-popular transactions. The central African country, whose beaches and coastal waters are home to the world’s largest population of …

Gabon ‘blue bond’ swap raises hopes for wave of African debt-for-nature deals Read More »

UAE’s Al Dahra, Abu Dhabi fund sign $500 million deal to supply wheat to Egypt

15 Aug 2023

By Sarah El Safty CAIRO (Reuters) -UAE-based agribusiness Al Dahra and the Abu Dhabi Exports Office (ADEX) have signed a $500 million deal to supply Egypt with wheat, a statement said on Monday. The five-year agreement, worth $100 million per year, will provide Egypt with imported milling wheat “at competitive prices”. Egypt, a major buyer …

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Kenyan lender Equity Group reports 14% rise in H1 profit

15 Aug 2023

NAIROBI (Reuters) – Kenyan lender Equity Group Holdings on Tuesday reported a 14% rise in first-half pretax profit to 35.2 billion Kenyan shillings ($245 million). Equity, which also operates in Uganda, Tanzania, Rwanda, South Sudan and Democratic Republic of Congo, said growth in its subsidiaries meant that almost half its balance sheet was now outside …

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Dollar hits highest in more than a month on China economy concerns

15 Aug 2023

By Hannah Lang WASHINGTON (Reuters) – The U.S. dollar hit more than a one-month high on Monday as investors sought a safe haven due to concerns about China’s economy, and traders braced for possible Japanese government intervention after the yen hit its lowest level since November. The dollar index, which tracks the currency against its …

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