Reuters Africa Business

Nigerian oil union launches nationwide strike after Dangote refinery dismisses workers

30 Sep 2025

By Isaac Anyaogu LAGOS (Reuters) -A nationwide strike by Nigeria’s oil workers union has shut the offices of the country’s oil regulator and state oil company, threatening fuel supply and trade across West Africa after the Dangote refinery dismissed more than 800 unionised staff. The walkout, launched on Monday, has escalated tensions in Africa’s top …

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Namibia cautious about taking up a stake in De Beers, local media report

30 Sep 2025

WINDHOEK (Reuters) -Namibia will carefully consider whether or not to acquire a stake in De Beers as the diamond price slump persists, local media reported on Monday, citing the country’s deputy prime minister. The diamond giant has been put up for sale by Anglo American as the parent company restructures its portfolio to focus on …

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South Africa records large FDI outflows in Q2 as Anglo spins off platinum unit

30 Sep 2025

JOHANNESBURG (Reuters) -South Africa recorded foreign direct investment outflows of 73.5 billion rand ($4.26 billion) in the second quarter of 2025, compared to inflows of 11.7 billion rand in the first quarter, central bank data showed on Tuesday. The South African Reserve Bank said in its Quarterly Bulletin that the outflows were primarily due to …

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Exclusive-Mali mining dispute proved last straw for Barrick’s ‘Mercurial Mark’ Bristow, sources say

30 Sep 2025

By Divya Rajagopal TORONTO (Reuters) -Mark Bristow’s handling of Barrick Mining’s flagship asset in Mali proved to be the last straw for the board to initiate a change in leadership, according to four people familiar with the development.  In a surprise move, Barrick’s Chairman John Thornton on Monday announced Chief Executive Bristow would step down immediately …

Exclusive-Mali mining dispute proved last straw for Barrick’s ‘Mercurial Mark’ Bristow, sources say Read More »

Dollar weakens after strong rally as US government shutdown looms

29 Sep 2025

(Corrects typo in the name of firm Bannockburn in 4th paragraph) By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar slid against major currencies such as the euro and yen on Monday following a rally last week after stronger-than-expected U.S. economic data and ahead of a key nonfarm payrolls report that could offer further clues on …

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Trump administration says it supports 1-year renewal of Africa trade initiative

29 Sep 2025

(Reuters) -U.S. President Donald Trump’s administration supports a one-year extension of the African Growth and Opportunity Act, the trade initiative with sub-Saharan Africa that expires on Tuesday, according to a White House official. Since coming to office in January, the administration had not publicly stated a position on the act, known as AGOA, a law …

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Mali’s industrial gold output down 32% on Barrick suspension, document says

29 Sep 2025

BAMAKO (Reuters) -Mali’s industrial gold production fell 32% year-on-year to 26.2 tons by the end of August, weighed down by the months-long suspension of Barrick Mining’s operations, according to a mines ministry document seen by Reuters on Monday. Industrial output in Mali, one of Africa’s top gold producers, was also 22.5% below the government’s forecast …

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Ethiopia, investors start formal talks on $1 billion bond restructuring, source says

29 Sep 2025

By Duncan Miriri NAIROBI (Reuters) -Ethiopia has entered formal talks with a group of investors in its $1 billion international bond on how to restructure the debt, a source with knowledge of the process told Reuters on Monday, confirming earlier news reports. The talks are taking place in Paris, the source said, confirming an earlier …

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Africa Finance Corporation raises $1.5 billion via syndicated loan

29 Sep 2025

NAIROBI (Reuters) -The Africa Finance Corporation, a Lagos-based continental financial institution, has secured $1.5 billion through a syndicated loan in its biggest-ever debt fundraising deal, it said on Monday. AFC, which is owned by African central banks and development lenders, got the cash through a three-year facility, which was initially looking to raise $1.3 billion, …

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