By Clara Denina and Wendell Roelf CAPE TOWN (Reuters) – Lithium-rich African countries, including Zimbabwe and Namibia, are trying to develop processing and refining industries to capture more of the profits of global demand for the battery material. As the auto industry shifts towards electric vehicles (EVs) – spurred by proposed bans on fossil-fuel cars …
Africa gears up to keep more of the profits from lithium boom Read More »
By MacDonald Dzirutwe LAGOS, Nigeria (Reuters) – At a fuel station in Nigeria’s commercial capital, tempers flare and harsh words are exchanged as motorists wait in line for hours to fill up their tanks at one of the few outlets with petrol left in the vicinity. Across the road, young men drenched in sweat from …
Fuel and cash shortages rile Nigerian voters heading into election Read More »
TUNIS (Reuters) – The World Bank has approved a $120 million loan for Tunisia to support access to finance for Tunisian small and medium enterprises, the bank said in statement. The project aims to address the primary long-term liquidity constraints faced by Tunisian firms by financing long-term lines of credit that will be on-lent by …
World Bank lends Tunisia $120 million to finance small and medium firms Read More »
JOHANNESBURG (Reuters) – Debt-laden Steinhoff International said on Thursday it had raised 4.9 billion rand ($277 million) by selling 265 million shares, or 7.2%, of discount retail subsidiary Pepkor Holdings. Steinhoff shares dropped 13.64% at the market open. Pepkor shares dipped 1.02%. Following the sale via an accelerated book building process, Steinhoff’s interest in Pepkor, …
S.Africa’s Steinhoff raises $277 million from selling Pepkor shares Read More »
(Reuters) -ArcelorMittal South Africa’s full-year profit declined by 62% due to weaker steel prices and demand at a time when costs were driven up by significant price increases of key inputs such as coal, the company said on Thursday. The unit of Luxembourg-based ArcelorMittal, the world’s No.2 steelmaker, said its headline earnings per share (HEPS) …
ArcelorMittal S.Africa’s profit falls 62% on weak steel prices, demand Read More »
OUAGADOUGOU (Reuters) -Medecins Sans Frontieres (MSF) has suspended its operations in an area of northwest Burkina Faso where armed assailants killed two of its employees on Wednesday, the medical charity said in a statement. Gunmen on Wednesday morning opened fire on an MSF-branded vehicle transporting four staff members between the towns of Dedougou and Tougan, …
MSF suspends operations in northwest Burkina Faso after gunmen kill two staff Read More »
OUAGADOUGOU (Reuters) -At least nine people were killed when an artisanal gold mine collapsed in Burkina Faso’s western Tuy province on Tuesday, the head of the artisanal mining association for the province said. The mine caved in on Tuesday evening and rescue operations began around 8 p.m., Abass Dera told Reuters on Wednesday. “Around 11 …
At least 9 dead in Burkina Faso mine collapse: association Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened against the dollar on Wednesday as investors awaited potential news from President Cyril Ramaphosa’s State of the Nation address on Thursday. At 1532 GMT, the rand traded at 17.7900 against the dollar, about 1.3% weaker than its previous close. The dollar recovered slightly against a basket of six major …
South African rand weakens ahead of president Ramaphosa’s speech Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) – South African manufacturers and retailers of food and other essential products warned on Wednesday that consumers will face much higher prices unless the government urgently finds solutions to the power cuts that are crippling the economy. Food, consumer goods companies and retailers in South Africa are cranking up diesel …
South Africa’s consumer goods firms warn of much higher prices as power cuts bite Read More »
By Camillus Eboh and Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s Supreme Court on Wednesday prevented the government from enforcing a Friday deadline for citizens to swap old banknotes for new ones, as the International Monetary Fund flagged disruptions to trade and payments. Nigerians were due to turn in old 1,000, 500 and 200 naira banknotes in …
Nigerian court suspends Friday deadline to swap banknotes Read More »
