Home » Posts tagged with » Finance (Page 3)

A $50 Billion Fight Over Who Owns South African Central Bank

A $50 Billion Fight Over Who Owns South African Central Bank

South Africa’s Lesetja Kganyago has a fight on his hands to protect the central bank’s $50 billion of reserves. More than eight months after the ruling African National Congress decided that the South African Reserve Bank should be state-owned, like most other central banks, the governor said his main concern remains to protect the regulator’s […]

China’s TBEA To Invest In 180 mln Euro Gabon Hydropower Project – Gabon official

China’s TBEA To Invest In 180 mln Euro Gabon Hydropower Project – Gabon official

Chinese energy firm TBEA will invest in a 180 million euro ($209 million) hydropower project in Gabon alongside the West African country’s sovereign wealth fund, a Gabonese official said on Saturday. Construction will begin “pretty soon” on the project, which will have a power generation capacity of 70 megawatts in the first phase, Liban Soleman, […]

South African Banks Weigh New Fund to Boost Black Farm Ownership

South African Banks Weigh New Fund to Boost Black Farm Ownership

  South African banks are in talks to start a joint fund that could be used to accelerate the transfer of land to black people as they seek to protect billions of rand in assets tied up in farm loans. Lenders are wading into the racially charged land-reform debate as the ruling party embraces calls […]

U.S. Backs Ivory Coast Project to Produce Power From Cocoa Waste

U.S. Backs Ivory Coast Project to Produce Power From Cocoa Waste

Ivory Coast plans to produce the world’s first energy from cocoa shells by 2020 after the largest producer of the chocolate ingredient clinched U.S. backing to assess the project. The U.S. Trade and Development Agency will fund a feasibility study for a plant producing as much as 70 megawatts from cocoa waste, officials from the […]

South African Fuel Prices To Rise By More Than 1.5 pct In July

South African Fuel Prices To Rise By More Than 1.5 pct In July

The retail price of petrol in South Africa will rise by more than 1.5 percent from July 4, while the price of wholesale diesel will rise by 1.8 percent, the energy department said on Sunday. The price of petrol will rise by 26 cents to 16.02 rand per litre in the commercial hub of Gauteng […]

Egypt May Have Issued Last LNG Tender, Paving Way for Exports

Egypt May Have Issued Last LNG Tender, Paving Way for Exports

  Egypt may have just issued its last LNG tender, setting the stage to resume exports next year. Imports of liquefied natural gas may stop in the fourth quarter, allowing for exports to start early next year as Eni SpA’s Zohr and other gas fields boost production in the country and help to draw more […]

Why South Africa Is Ripping Up Its Mining Rules Again

Why South Africa Is Ripping Up Its Mining Rules Again

South Africa’s mining industry is a prime example of the nation’s stark imbalances. Its highly paid, mainly white male executives oversee hundreds of thousands of mostly black workers laboring in deep and dangerous operations. To spread the nation’s wealth more equally, the government revised its mining charter in 2017 to require that companies give more […]

South Africa’s Grid Under Pressure As Electricity Workers Protest

South Africa’s Grid Under Pressure As Electricity Workers Protest

South Africa’s power grid was under pressure on Friday, with controlled blackouts possible, due to workers protesting over pay, a test of new President Cyril Ramaphosa’s efforts put the state electricity provider back on a stable financial footing. A spokesman for Eskom, which produces more than 90 percent of South Africa’s power, said the grid […]

China’s Tsingshan Mulls $1 billion Steel Plant in Zimbabwe

China’s Tsingshan Mulls $1 billion Steel Plant in Zimbabwe

China’s unlisted Tsingshan Holding Group on Monday signed a $1 billion outline agreement with Zimbabwe to build a steelmaking plant there after completing a feasibility study. President Emmerson Mnangagwa’s government is trying to woo foreign investors, especially in mining, as part of efforts to revive an economy that suffered in the later years of Robert […]

Congo Mining Code Regulations Signed Into Law – Aides

Congo Mining Code Regulations Signed Into Law – Aides

Regulations to implement Congo’s new mining code have been signed into law with no changes, advisers to the prime minister told Reuters on Saturday, despite objections from mining firms that have been threatening legal action. Prime Minister Bruno Tshibala signed the regulations into law overnight, his adviser Patrick Mutombo Buzangu told Reuters by telephone, but […]