Eight of the top 10 most valuable firms in Africa are located in South Africa, according to African Business magazine’s latest ranking of the continent’s top 250 companies by market capitalisation. The 2020 edition of the survey revealed that the total market cap of firms is...
Total has secured US$14.4 billion in funding for its liqified natural gas (LNG) project in Mozambique, according to two sources close to the matter. One of the sources said the French energy giant has reached a financing agreement with a group that includes around 20 lenders...
Airports Company SA (ACSA) has declared it may need up to R11 billion (US$594 million) of new debt finance from the South African treasury in the wake of the COVID-19 global pandemic. The airports operator has seen its business grind to a halt since late March...
Chemicals and fuels group Sasol has issued a request for information (RFI) on the prospect of potential bidders supplying its heavily polluting South African operations with 600MW of renewable energy. The news comes just a day after the JSE-listed company was excluded from the portfolio of...
Zambia has temporarily shut its border with Tanzania as part of its efforts to quell the spread of COVID-19, delaying its main copper exports via Dar es Salaam, a minister revealed yesterday. President Edgar Lungu directed the closure on Sunday after the border town of Nakonde...
Nigeria will extend a ban on all commercial flights in and out of the country by four weeks as part of measures to prevent the spread of COVID-19, revealed a government official yesterday. Boss Mustapha, Secretary to the Government of the Federation, said Thursday would mark...
Farmers across Southern Africa are facing the prospect of being unable to sell their products to lucrative foreign markets due to restrictions in place to prevent the further spread of COVID-19. In particular, agricultural producers and traders in South Africa and Zimbabwe – two of the...
The implementation of Africa’s ground-breaking continental free trade deal will not begin at the start of July as planned due to disruptions caused by the COVID-19 outbreak, according to a senior official. “It is obviously not possible to commence trade as we had intended on 1...
The South African government will reopen its agriculture sector and allow some manufacturing and retail to resume, in order to kickstart the economy which has been shut down for over a month to curb the spread of COVID-19. This follows President Cyril Ramaphosa’s announcement on Thursday...
Mining giant Gold Fields has declared that it will lose 32,000 ounces of production at its South Deep mine in South Africa following a nationwide lockdown to tackle the spread of COVID-19. The international gold producer said the mine in Western Gauteng had commenced a staged...