Reuters Africa Business

US-based Flagship Gold signs deal to revive Mali’s Morila mine

9 Oct 2025

DAKAR (Reuters) -New York-based Flagship Gold Corp has signed a partnership agreement with Mali’s state-owned miner to restart production at the Morila gold mine, the first U.S. investment under the military-led nation’s new mining code, Mali’s government said. The agreement, signed Wednesday in Bamako, allows Flagship to acquire equity in Morila SA, which holds estimated …

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S.African court grants Transnet control of disputed Chinese spares

9 Oct 2025

(Reuters) -A South African court has ordered China’s CRRC E-Loco to release locomotive spares it withheld from Transnet in a long-running contract dispute, Transnet’s CEO said on Thursday, boosting the freight rail operator’s plans to improve performance. The two parties have engaged in legal battles after Transnet halted the supply of 1,064 locomotives from four …

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Johannesburg Stock Exchange CEO Fourie to retire, successor named

9 Oct 2025

JOHANNESBURG (Reuters) -Johannesburg Stock Exchange CEO Leila Fourie is to retire early next year after nearly 6-1/2 years at the helm and will be succeeded by the head of the bourse’s capital markets, Valdene Reddy, the group said on Thursday. Reddy’s appointment is effective from April 1, 2026, it said in a statement. She has …

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Congo to start building gold reserves as price surges, central bank governor says

9 Oct 2025

By Duncan Miriri and Sonia Rolley NAIROBI (Reuters) -The Democratic Republic of Congo will start building gold reserves to bolster its currency and lift its economy, the central bank governor said, joining a rush in Africa and elsewhere to stockpile the precious metal as prices soar. Gold prices, which hit record highs above $4,000 an …

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South African policymakers agree on lowering inflation target, timing still an issue

9 Oct 2025

By Kopano Gumbi and Colleen Goko JOHANNESBURG (Reuters) -South African Reserve Bank (SARB) Governor Lesetja Kganyago said on Thursday that the central bank and National Treasury agreed that the country’s inflation target should be lowered but they were still discussing when to make the change. Kganyago surprised financial markets in July by saying the SARB …

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South Africa draws global interest for $500 million funding initiative

9 Oct 2025

By Colleen Goko JOHANNESBURG (Reuters) -South Africa’s National Treasury has attracted over 100 global proposals for its $500 million foreign currency financing initiative as it seeks to diversify its funding sources. The initiative, announced in July, aims to explore innovative financing options to raise cash for Africa’s most industrialised economy which go beyond traditional Eurobonds. …

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Stocks rise with US and European indexes hitting records, gold extends recent rally amid US rate cut hopes

9 Oct 2025

By Caroline Valetkevitch NEW YORK (Reuters) -Major stock indexes rose on Wednesday, with U.S. and European indexes hitting record highs, while gold extended its recent rally above $4,000 an ounce as a prolonged U.S. government shutdown and expectations of further U.S. interest rate cuts drove demand for the safe-haven asset. Gold, traditionally seen as a …

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