News
Indian auto giant Mahindra eyes $31bn push to expand South Africa factory amid rising demand
1+ hour, 1+ min ago (463+ words) India's second-largest automaker, Mahindra & Mahindra, is assessing plans to upgrade its South African assembly operations as it seeks to capitalise on growing demand for affordable vehicles and intensifying competition. Mahindra currently operates a semi-knocked-down, or SKD, assembly process in South…...
Oman opens Angola-based investment bank to deepen Africa trade links
1+ hour, 32+ min ago (326+ words) Oman has launched a new corporate investment bank in Angola as part of efforts to deepen its financial presence in Africa and strengthen trade links with emerging markets. The institution, known as the African Bank of Oman, was established under…...
Zimbabwe resumes gold coin minting amid soaring bullion prices
11+ mon, 3+ week ago (331+ words) Zimbabwe's central bank has resumed issuing gold coins, a move it had suspended 10 months ago. This decision aims to boost the bullion reserves backing the local currency, the Zi G, which is teetering on the brink amid policy missteps, according…...
Zimbabwe's Zi G posts biggest gain yet on soaring gold reserves
9+ mon, 2+ week ago (323+ words) Zimbabwe's gold-backed currency, the Zi G, recorded its biggest single-day gain against the U. S. dollar this year, buoyed by a sharp increase in gold production and stronger foreign currency reserves. The Zi G appreciated by 0. 2% on Friday, trading at 26. 89 per dollar,…...
The Pope addresses Angola's 27-year war and its resource curse
20+ hour, 22+ min ago (132+ words) Business Insider Africa The Pope addresses Angola's 27-year war and its resource curse Pope Leo urged Angolans on Sunday to overcome divisions rooted in decades of conflict, delivering his message at two large celebrations attended by over 130, 000 people. - Pope Leo…...
Aliko Dangote raises alarm over oil price hikes endangering African aviation and farming sectors
3+ day, 17+ hour ago (392+ words) Africa's richest man, Aliko Dangote, has warned that surging oil prices linked to tensions around the Strait of Hormuz could severely disrupt key sectors across the continent, including aviation and agriculture. Speaking at the Semafor World Economy Summit, Dangote said…...
Namibia invests $2. 3m to tackle rural internet gap, targets 90% connectivity by 2030
1+ day, 4+ hour ago (392+ words) Namibia has committed about $2. 3 million to expand telecommunications access in rural areas, as authorities seek to narrow a persistent digital divide and lift national internet penetration beyond 50%. The funding, equivalent to roughly N$42. 1 million, has been allocated by the Communications…...
Africa's third-largest oil producer nears $400 million debt-for-education swap
2+ day, 16+ hour ago (377+ words) Angola plans to conclude a $400 million debt-for-education swap by June, Finance Minister Vera Daves de Sousa said, as the country continues efforts to ease its debt burden while boosting social spending. The arrangement, which has received guarantees from the World…...
Microsoft picks South Africa for $329 million expansion in cloud infrastructure and AI training
4+ day, 57+ min ago (337+ words) Microsoft is ramping up its African cloud ambitions with a fresh $329 million investment in South Africa, targeting data centre expansion, infrastructure resilience, and artificial intelligence (AI) skills development. The move builds on Microsoft's earlier $1. 2 billion commitment to South Africa and…...
Africa's copperbelt experiment grows as DR Congo miner boosts US supply deal
5+ day, 15+ hour ago (340+ words) DR Congo state miner G'camines has significantly expanded its copper commitment to the United States, pledging 500, 000 tonnes for sale through its Swiss trading partner Mercuria, according to a sovereign debt prospectus filed in London. The revised volume is around five…...