Africa Business Weekly

04/12/2023

Ivanhoe Mines (TSX: IVN), founded by billionaire Robert Friedland, plans to begin exploring Angola early next year for copper after securing rights over an area the size of Switzerland.

Ivanhoe Mines (TSX: IVN), founded by billionaire Robert Friedland, plans to begin exploring Angola early next year for copper after securing rights over an area the size of Switzerland. The Canadian miner has budgeted US$10 million for an initial five years of copper exploration in the southwest Afr...

04/12/2023

Giyani Metals Corp. (TSXV: EMM) has secured a US$16 million financing from the Industrial Development Corp. of South Africa (IDC) to fund the development of its K.Hill manganese project in Botswana.

https://abw.africabizco.com/giyani-secures-us16m-for-botswana-manganese-project/

08/11/2023

According to CEOWORLD magazine, Aliko Dangote, with a net worth of $10.5 billion, is the only African on the list, dominated by billionaires from Asia and Europe.

Africa’s richest man, Aliko Dangote, has ranked 9th on the list of the richest manufacturing billionaires in the world in 2023. According to CEOWorld magazine, Dangote, with a net worth of $10.5 billion, is the only African on the list, dominated by billionaires from Asia and Europe. The 66-year-o...

30/10/2023

NextSource Materials (TSX: NEXT; US-OTC: NSRCF) announced Monday, October 23, that it has made its first bulk container shipment of SuperFlake graphite from the company’s Molo mine in Madagascar.

NextSource Materials (TSX: NEXT; US-OTC: NSRCF) announced Monday, October 23, it has made its first bulk container shipment of SuperFlake graphite from the company’s Molo mine in Madagascar. This first shipment has been sent to the company’s downstream technical partner’s Battery Anode Facilit...

30/10/2023

Kenya, Côte d’Ivoire, and Rwanda are among the fastest-growing African economies in 2023, according to a new report by the World Bank.

Kenya, Côte d’Ivoire, and Rwanda are among the fastest-growing African economies in 2023, according to a new report by the World Bank. The report forecasts that economic activity in Sub-Saharan Africa will accelerate to 3.7 per cent in 2024 and 4.1 per cent in 2025, a signal that growth in the re...

30/10/2023

Recent diamond production statistics from the Kimberley Process, a joint government, industry and civil society initiative that regulates the trade and production of diamonds, revealed the prominent role of African nations in the global diamond industry.

It is no secret that Africa is rich in valuable minerals crucial for economic development, ranging from extensive oil reserves to lush agricultural lands. The continent possesses about 30% of the world's total mineral reserves, including gold, copper, platinum, cobalt, uranium, lithium, and more, al...

26/10/2023

Heineken, the world's second-largest brewer, has reported declining beer sales in Nigeria and South Africa in its third-quarter report, blaming high inflation and currency devaluation in these markets.

Heineken, the world's second-largest brewer, has reported declining beer sales in Nigeria and South Africa in its third-quarter report, blaming high inflation and currency devaluation in these markets. The company's global beer volumes fell by 4.2% in the July-September period, with declines in all....

26/10/2023

World Statistics released a report, detailing the time countries across the globe spend on social media, and surprisingly, Nigeria spends the most time on social media in the world. Three other African countries made the list.

Spending an extensive amount of time on social media can have both beneficial and negative effects. The argument can go both ways, seeing as some have found a way to monetize their social media, while social media robs some of their time, attention, and productivity. While this is an individualistic...

24/10/2023

The Suez Canal Authority (SCA) has decided to increase regular transit fees by 15 per cent for specific types of vessels.

The Suez Canal Authority (SCA) has decided to increase regular transit fees by 15 percent for specific types of vessels. The increase, announced on Monday, October 16, includes crude oil tankers, petroleum products carriers, liquefied petroleum gas (LPG) carriers, liquefied natural gas (LNG) carrier...

24/10/2023

Morocco’s giant fertilizer manufacturer OCP is set to remain resilient in the face of a market downturn, as fertilizer prices drop in 2023, S&P Global Ratings, an American rating agency, said in a report.

Morocco’s giant fertilizer manufacturer OCP is set to remain resilient in the face of a market downturn, as fertilizer prices drop in 2023, S&P Global Ratings, an American rating agency, said in a report. The report indicates that the OCP Group has a strong safety margin to cope with the challengi...

24/10/2023

Emmanuel Awuni, a private sector consultant at the World Bank, says an unfavourable business regulatory framework is hindering entrepreneurial potential and deepening Ghana’s unemployment situation.

Emmanuel Awuni, a private sector consultant at the World Bank, says an unfavourable business regulatory framework is hindering entrepreneurial potential and deepening Ghana’s unemployment situation. He said the existing regulatory framework and requirements from state agencies were a major obstacl...

24/10/2023

Ghana’s leading total beverage business, Guinness Ghana Breweries PLC, has outdoored a clear bottle for Ghana’s biggest malt brand, Malta Guinness.

Ghana’s leading total beverage business, Guinness Ghana Breweries PLC has outdoored a clear bottle for Ghana’s biggest malt brand, Malta Guinness. The clear bottle is made up of 30% recycled material and aligns with Guinness Ghana’s aim to ensure zero waste to landfill for its own operations a...