Reuters Africa2

Mitsui CEO says final push underway with TotalEnergies to revive Mozambique LNG project

TOKYO (Reuters) – Japan’s Mitsui & Co is collaborating with TotalEnergies and the Mozambique government to finalise plans for restarting construction of the $20 billion Mozambique liquefied natural gas (LNG) project, CEO Kenichi Hori said on Thursday. The project, led by TotalEnergies, has faced delays due to concerns over violent unrest in the region. “We …

Mitsui CEO says final push underway with TotalEnergies to revive Mozambique LNG project Read More »

Italy and African Development Bank sign $420 million co-financing deal

RABAT (Reuters) – Italian state lender CDP and the African Development Bank (AfDB) signed on Thursday a co-financing deal worth 400 million euros ($420 million) to promote climate finance, sustainable farming, education and technical assistance, AfDB’s vice president for finance Hassatou Diop N’Sele said. The deal, signed during the AfDB’s Africa Investment Forum in Rabat, …

Italy and African Development Bank sign $420 million co-financing deal Read More »

South Africa’s current account deficit broadly unchanged in Q3

JOHANNESBURG (Reuters) – South Africa’s current account deficit was broadly unchanged from the second to the third quarter of this year, staying at 1.0% of gross domestic product (GDP), central bank data showed on Thursday. In rand terms the current account deficit narrowed to 70.8 billion rand ($3.91 billion) in July-September, from a revised 75.3 …

South Africa’s current account deficit broadly unchanged in Q3 Read More »

Ugandan shilling firms on charity and commodity FX inflows

KAMPALA (Reuters) – The Ugandan shilling firmed on Thursday, boosted by inflows of hard currency from charities and exporters of commodities like coffee and gold, traders said. At 0728 GMT, commercial banks quoted the shilling at 3,666/3,676, compared to Wednesday’s close of 3,673/3,683. (Reporting by Elias Biryabarema; Editing by Bhargav Acharya)

Kenyan shilling stable on remittance flows

NAIROBI (Reuters) – The Kenyan shilling was steady on Thursday, supported by dollar inflows from diaspora money transfers and tea exports, traders said. The shilling traded at 129.00/129.50 per dollar at 0657 GMT, the same as Wednesday’s closing rate. (Reporting by Sonia Rao; Editing by Elias Biryabarema)

Suspected bandits lay explosives on Nigerian road, causing damage

By Camillus Eboh ABUJA (Reuters) – A gang of armed men planted explosives along the Dansadau-Gusau road in northwest Nigeria’s Zamfara state, causing significant damage and casualties, a military spokesperson and witnesses said on Wednesday. Armed gangs in northwest Nigeria, known by locals as bandits, have escalated their attacks, resorting to a dangerous new tactic …

Suspected bandits lay explosives on Nigerian road, causing damage Read More »

Climate Investment Funds board backs $500 million Ethiopia nature plan

By Simon Jessop LONDON (Reuters) – Multilateral lender Climate Investment Funds will back a $500 million plan to help drought-prone Ethiopia restore degraded land, protect its forests and bolster food security, it said on Wednesday. CIF’s board said it had agreed a $37 million investment from its Nature, People, and Climate programme that it expects …

Climate Investment Funds board backs $500 million Ethiopia nature plan Read More »

South African coal miner Exxaro suspends CEO, opens governance probe

(Reuters) – South African coal miner Exxaro Resources said on Wednesday its board had placed CEO Nombasa Tsengwa on “precautionary suspension” pending an independent probe “into allegations related to workplace conduct and governance practice”. “The Board takes any such allegations and resultant investigations very seriously but makes no presumption as to its conclusion. The company …

South African coal miner Exxaro suspends CEO, opens governance probe Read More »