Reuters Africa Business

By Marc Jones LONDON (Reuters) -Zambia’s international bondholders expect to strike a debt restructuring deal with the country “in the coming weeks”, a leading member said on Tuesday, a move that would draw a line under the nation’s near three-year stint in default. Hakainde Hichilema’s government reached an agreement last week to restructure $6.3 billion …

Zambia’s bondholders see debt restructure deal in coming weeks Read More »

WINDHOEK (Reuters) – Namibia’s mines minister did not have the power to cancel a Chinese lithium miner’s licence and should have approached the courts to revoke it, a judge ruled on Tuesday. Lithium miner Xinfeng took Namibia’s mines minister Tom Alweendo to court after he cancelled the company’s mining licence in April and ordered it …

Namibia had no power to cancel Chinese miner’s licence, court rules Read More »

NAIROBI (Reuters) – Safaricom has appointed Wim Vanhelleputte as chief executive officer of its Ethiopia business from September, an internal memo seen by Reuters on Tuesday showed. Vanhelleputte, who joins from South Africa’s MTN Group where he served in various roles over the years, including as chief executive of MTN Uganda, will replace Anwar Soussa, …

Safaricom appoints new CEO for its Ethiopia business Read More »

By Nelson Banya JOHANNESBURG (Reuters) – South African miners have increased their efforts to bring on new solar and wind generation, renewables company JUWI said, as they seek to cut costs and emissions and address an electricity crisis that has hit their output and the wider economy. Frequent breakdowns by state-owned utility Eskom’s ageing coal-fired …

S.African mines seek to turn up renewables to ease power crisis Read More »

(Reuters) – South African coal miner Exxaro Resources on Tuesday said it expects its production and sales to decline in the first half of the year due to lower domestic demand, while persistent rail logistical problems continue to hobble exports. In an update, Exxaro said its coal production and sales volumes for the six months …

S.Africa’s Exxaro expects lower coal sales as demand cools Read More »

JOHANNESBURG (Reuters) – Technology investor Naspers on Tuesday reported a 78% slump in annual profit, led by a drop in the contribution from China’s Tencent which accounts for the bulk of earnings and revenue for the South African investor. Its headline earnings per share, a profit measure, from continuing operations dropped to 119 U.S. cents …

S.Africa tech investor Naspers’ profit slumps on lower Tencent contribution Read More »