Reuters Africa Business Archives - Page 93 of 921

Uganda to borrow $400 million for agriculture, transport projects, finance ministry says

4 Sep 2025 4 Sep 2025

KAMPALA (Reuters) -Uganda plans to borrow $400 million from several lenders including Africa Development Bank (AfDB) and a United Nations fund to finance transportation and agriculture projects, a finance ministry official said. Opposition political parties have criticised the government over rising public debt levels in recent years, and Uganda’s central bank has said the cost …

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Anglo American to sell remaining stake in Valterra

3 Sep 2025 3 Sep 2025

LONDON (Reuters) -Global miner Anglo American is selling off its remaining stake in Valterra Platinum, worth around $2.4 billion, it said on Wednesday, marking its full exit from its former subsidiary. The company has launched an accelerated bookbuild offering to sell about 52.2 million shares in the company, it said. The demerger of Valterra, formerly …

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South Africa’s Aspen aims for profit turnaround with insulin, GLP-1 drugs

3 Sep 2025 3 Sep 2025

By Nqobile Dludla JOHANNESBURG (Reuters) -Aspen Pharmacare’s manufacturing division aims to grow profit by 2027 by commercializing an insulin deal and producing GLP-1 drugs, after the ending of a major contract led to a full-year loss of 1.1 billion rand ($63 million). The after-tax loss in the year ended June 30 compared to a year-ago …

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Dangote refinery’s gasoline unit expected to be offline for at least two weeks, sources say

3 Sep 2025 3 Sep 2025

By Shariq Khan and Ahmad Ghaddar (Reuters) -The gasoline producing unit at Nigeria’s 650,000 barrel-per-day Dangote refinery has been taken offline due to catalyst leaks and other issues, with repairs expected to take at least two weeks, two sources familiar with the matter said. The refinery’s 204,000 bpd Residue Fluidized Catalytic Cracking Unit (RFCCU) has …

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South African rand gains after PMI survey, investors eye key US data

3 Sep 2025 3 Sep 2025

JOHANNESBURG (Reuters) -South Africa’s rand edged up against the dollar on Wednesday after a weak U.S. purchasing managers’ index (PMI) survey, while global markets awaited the release of key U.S. data for further clues on the Federal Reserve’s interest rate trajectory. At 1507 GMT the rand traded at 17.66 against the dollar, about 0.2% above …

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Chevron signs preliminary agreement with Angola to explore for oil in offshore block

3 Sep 2025 3 Sep 2025

LUANDA (Reuters) -Chevron has signed a preliminary agreement with Angola’s national oil and gas concessionaire ANPG to explore for oil in the country’s offshore block 33/24, the U.S. oil major said on Wednesday. The risk services contract with Angola’s National Oil, Gas and Biofuels Agency was signed on the first day of an energy conference …

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Azule Energy to invest $5 billion over next five years in Angola

3 Sep 2025 3 Sep 2025

LUANDA (Reuters) -Azule Energy, the joint venture between Italian oil and gas explorer Eni and BP, expects to invest another $5 billion in Angola over the next four to five years, Eni’s Chief Operating Officer Guido Brusco told Reuters on Wednesday. The latest investment in both new and existing projects will match investments in oil …

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Ethiopia’s central bank governor to leave government

3 Sep 2025 3 Sep 2025

ADDIS ABABA (Reuters) -Ethiopia’s central bank governor Mamo Mihretu said on Wednesday he was leaving government, having led the bank through deep reforms of the economy including the flotation of the birr currency. Prime Minister Abiy Ahmed appointed Mamo to head the National Bank of Ethiopia in January 2023. It was not immediately clear if …

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Africa-focused telco Paratus launches Namibia’s first private mobile network

3 Sep 2025 3 Sep 2025

WINDHOEK (Reuters) -Africa-focused telecommunications operator and network services provider Paratus Group has launched the first mobile network run by a private company in Namibia, a move expected to disrupt the local market dominated by state-owned MTC and Telecom Namibia. Paratus says its network is built entirely on 4G LTE technology, which is faster than 2G …

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Woolworths bets on fashion revamps in Australia and South Africa for 2026 growth

3 Sep 2025 3 Sep 2025

By Nqobile Dludla JOHANNESBURG (Reuters) -South African retailer Woolworths said it was banking on a revamped Australian fashion chain and a recovering domestic clothing business to fuel growth in 2026 after reporting a 23.9% drop in full-year earnings. Group Chief Executive Roy Bagattini told investors on Wednesday the retailer had completed the restructuring of its …

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