Reuters Africa Business

By Chris Mfula and Rachel Savage LUSAKA (Reuters) – The International Monetary Fund (IMF) has yet to finish a health check of Zambia’s debt that is necessary to strike a restructuring deal with creditors after more data was requested from the government, the treasury secretary said. Zambia became the first pandemic-era sovereign default in late …

Zambia’s IMF debt health check not ready yet, says treasury secretary Read More »

KINSHASA (Reuters) – A company controlled by Israeli billionaire Dan Gertler will give control of valuable mining and oil assets back to the Democratic Republic of Congo, the government said on Friday. Anti-corruption group Congo is Not for Sale (CNPAV) has previously warned the mineral-rich country would lose out on $1.76 billion in potential royalty …

Congo recovers mining and oil assets from Israeli billionaire Read More »

(Reuters) – Nigeria’s Seplat Energy said on Friday its offshore unit had entered a sale and purchase agreement to buy the entire share capital of Exxon Mobil’s Nigerian offshore shallow water business for $1.28 billion. The deal involves a further contingent consideration of up to $300 million based on the oil price and the average …

Nigeria’s Seplat Energy buys Exxon Mobil’s MPNU for $1.3 billion Read More »

JOHANNESBURG (Reuters) – South African miner Sibanye-Stillwater’s workers will vote next week on a strike at its gold operations over an unresolved wage dispute, union officials said on Thursday. Leaders of the Association of Mineworkers and Construction Union (AMCU), National Union of Mineworkers (NUM), Solidarity and UASA, which are negotiating as a united coalition for …

S.African labour unions set March 1 date for Sibanye strike vote Read More »

JOHANNESBURG (Reuters) – A Moody’s senior credit officer said on Thursday that South Africa’s government still faced spending pressures, despite significant revenue outperformance in the 2022 budget that supported fiscal consolidation efforts. Aurelien Mali, vice president and senior credit officer at Moody’s, cited financial support to state companies, negotiations over the public sector wage bill …

Moody’s says S.Africa spending pressures remain despite revenue boost in budget Read More »

WINDHOEK (Reuters) – Namibia’s Finance Minister Iipumbu Shiimi said on Thursday the country’s growth rate was projected to accelerate to 3.7% in 2023 led by a pick up in mining, agriculture, fishing and other primary sector of the economy. The country was expected to have grown by 1.2% in 2021, lower than the estimated 1.9% …

Namibia projects economic growth at 3.7% by 2023 – finance minister Read More »