JOHANNESBURG (Reuters) – JPMorgan has encouraged investors to buy the bonds of South Africa’s Eskom ahead of the country’s Feb. 22 budget, which is expected to set out how much of the troubled energy utility’s debt the government is taking on. “Eskom should now be considered an extension of the sovereign, and bonds should trade …
JPMorgan: Investors should buy Eskom bonds before South Africa budget Read More »
(Reuters) – U.S. home appliances maker Whirlpool is folding its European business into a new company controlled by Turkish rival Arcelik, reducing its exposure to a market where it had warned attractive profit margins could be some way off. Whirlpool also said it had agreed to sell its Middle Eastern and African businesses to Arcelik, …
Whirlpool partners Arcelik in Europe, quits MidEast and Africa Read More »
By Duncan Miriri NAIROBI (Reuters) – Madagascar’s WeLight, an off-grid solar company, has secured 19 million euros ($20.57 million) to connect 50,000 households to electricity in the next two years, it said on Tuesday. Off-grid solar power, spearheaded by a variety of start-ups, has gained in popularity in Africa because it can affordably connect millions …
Madagascar solar firm secures funding to connect 50,000 households Read More »
KINSHASA (Reuters) – Democratic Republic of Congo has awarded licences to three natural gas blocks in Lake Kivu on its eastern border, with some production expected to start as early as next year, the hydrocarbons ministry said on Monday. The Makelele block was awarded to RED, a local subsidiary of United States-based Symbion Power, the …
Congo awards Lake Kivu gas blocks to U.S. and Canadian producers Read More »
DAVOS, Switzerland (Reuters) – South Africa has a plan to improve energy provision that will end the need for any power cuts within the next 12-18 months, ITS Finance Minister Enoch Godongwana said on Monday. “Eventually in the next 12-18 months we will be able to say load-shedding is a thing of the past. That …
Davos 2023: South Africa plans to end load-shedding in 12-18 months -Finance Minister Read More »
JOHANNESBURG (Reuters) – The South African rand stabilised early on Tuesday after a sell-off the previous session as investor concerns heightened over a power crisis. President Cyril Ramaphosa cancelled his attendance at the World Economic Forum in Davos over the crippling power cuts, which have lasted at least six hours a day for most households …
South African rand stabilises after sell-off on power woes Read More »
(Reuters) – Ghana has granted Vodafone International Holdings approval to sell its 70% stake in Vodafone Ghana to Telecel Group, the country’s telecoms regulator said on Monday. The National Communications Authority (NCA) approved the sale after Telecel submitted a revised financial and technical proposal in December. The NCA had turned down an initial sale plan …
Ghana approves sale of controlling stake in Vodafone Ghana to Telecel Group Read More »
By Carien duPlessis and Anait Miridzhanian JOHANNESBURG (Reuters) – South Africa’s state-owned power utility Eskom said it would shorten power cuts from Tuesday morning as 14 generators come back on tap this week, but electricity shortages look set to continue at least into 2024. The past week has seen some of the worst power cuts …
South Africa’s Eskom to reduce power cuts but long-term outlook bleak Read More »
JOHANNESBURG (Reuters) -The South African rand slumped on Monday as investor concerns mounted over a power crisis that prompted President Cyril Ramaphosa to cancel a trip to the World Economic Forum in Davos. The struggling state power utility last week ramped up power cuts to their worst-ever level, meaning most South Africans are without power …
South African rand slumps as power crisis takes centre stage Read More »
ACCRA (Reuters) -Ghana has again extended the deadline to register for its domestic debt exchange, this time to Jan. 31, Finance Minister Ken Ofori-Atta said on Monday. The crisis-hit nation launched the debt swap plan at the start of December, days before clinching a staff-level agreement with the International Monetary Fund (IMF) for a $3 …
Ghana extends domestic debt exchange deadline for third time Read More »
