<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="510" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/XRLACNHRABPBTGGTHZVRWOCVEE.jpg" alt="" class="wp-image-573980" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/XRLACNHRABPBTGGTHZVRWOCVEE.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/XRLACNHRABPBTGGTHZVRWOCVEE-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/XRLACNHRABPBTGGTHZVRWOCVEE-128x90.jpg 128w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">Nigeria&#8217;s former Minister of Petroleum Diezani Alison-Madueke addresses delegates at the opening of the Nigeira Oil &amp; Gas 2014 conference in Abuja, File. REUTERS/Afolabi Sotunde/File Photo</figcaption></figure>



ABUJA, Jan 10 (Reuters)&nbsp;&#8211;&nbsp;Nigeria and the United States signed an agreement on Friday to repatriate about $52.88 million in assets forfeited by former Nigerian oil minister Diezani Alison-Madueke and her associates.



The agreement opens the way for the first repatriation to Nigeria of assets outside the West African country linked to Alison-Madueke.



Nigerian Justice Minister Lateef Fagbemi said the agreement with the U.S. enables &#8220;the repatriation of approximately $52.88 million arising from the forfeiture of the Galactica assets, linked to the former Petroleum Resources Minister Diezani Alison-Madueke and her associates.&#8221;



The agreement follows a 2017 civil complaint filed by the U.S. Justice Department aimed at recovering about $144 million in assets allegedly obtained through bribes to the former minister.



The lawsuit alleged that two Nigerian businessmen conspired with others to pay bribes to Alison-Madueke, who oversaw the country&#8217;s state-owned oil firm NNPC Ltd.



Alison-Madueke, whose whereabouts are unclear but was last known to be in Britain, has previously denied corruption charges against her.



She was minister under former president Goodluck Jonathan from 2010 until May 2015.



The funds will be used to support rural electrification projects through the World Bank, with $50 million allocated to increasing access to renewable energy, Fagbemi said.



The remaining $2.88 million will be disbursed as a grant by Nigeria to the International Institute for Justice to support counter-terrorism capacity across Africa, he said.



In Oct. 2022 a Nigerian court ordered a final seizure of two properties and cars owned by Alison-Madueke.



(Writing by Elisha Bala-Gbogbo and MacDonald Dzirutwe, Editing by William Maclean)

FILE PHOTO: Nigeria’s Minister of Petroleum Diezani Alison-Madueke addresses delegates at the opening of the Nigeira Oil & Gas 2014 conference in Abuja

US to return $52.88 mln in assets forfeited by ex-Nigerian oil minister

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3333" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/3DW6LEO47VMC3CWA77J2OKJYYU-1.avif" alt="" class="wp-image-573919"/><figcaption class="wp-element-caption">The logo of British multinational oil and gas company Shell is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo</figcaption></figure>



LONDON, (Reuters) &#8211; Shell will write down around $400 million over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country&#8217;s efforts to become a crude producer.



Shell told Reuters that discovered oil and gas resources in offshore block PEL39 in Namibia &#8220;cannot currently be confirmed for commercial development.&#8221;



Shell and its partners, QatarEnergy and Namibia&#8217;s national oil company, first discovered hydrocarbon in block PEL39 in 2022, which together with another discovery TotalEnergies made in a nearby block sparked huge global interest in Namibia which has no oil and gas production.



Shell has drilled nine wells in the licence over the past three years, making several other discoveries.



More recently, Portuguese oil company Galp also made a major discovery in a different offshore licence.



But the British company encountered technical and geological difficulties for the development of the resources.



&#8220;While we recognise that extracting the discovered resources presents challenges, the extensive data collected shows that there remain opportunities. Together with our partners, we are continuing to explore potential commercial pathways to development, while actively looking for further exploration opportunities in Namibia,&#8221; Shell said in a statement on Thursday.



CEO Wael Sawan told analysts on Oct. 31 that Namibia&#8217;s acreage was &#8220;very challenging,&#8221; and that the lower permeability of the rock made extracting oil and gas harder.



Sources told Reuters that the offshore discoveries also had a high natural gas content, further complicating their development.



Namibia&#8217;s Ministry of Mines and Energy said in a statement on Thursday that Shell&#8217;s decision will not significantly impact Namibia&#8217;s oil and gas development.



&#8220;It is not a setback. We are positive that the remaining potential of PEL39 and other exploration campaigns will translate into commercial developments,&#8221; the ministry said.



Galp, Chevron, Rhino Resources and Azule Energy, a joint venture between Italy&#8217;s Eni and BP, are all planning to drill exploration wells in Namibia this year. TotalEnergies plans to make a final investment decision on the development of its Venus discovery by year-end.



Shell said in a trading update ahead of fourth quarter results on Jan. 30 that it expects to take an exploration write-off of around $400 million, without providing details.



It will take another $300 million write-off related mainly to exploration licences in Colombia, the company added.



(Reporting by Ron Bousso; Editing by Nick Zieminski and Sandra Maler)

3DW6LEO47VMC3CWA77J2OKJYYU

Shell writes down Namibia oil discovery in blow to country

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1200" height="628" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GFFKBSSER5LL7JUFKFZRKRAD64-1.avif" alt="" class="wp-image-573905"/><figcaption class="wp-element-caption">Ghana&#8217;s President-elect John Dramani Mahama speaks during the swearing-in ceremony for his second term at the Black Star Square in Accra, Ghana January 7, 2025. REUTERS/Francis Kokoroko/File Photo</figcaption></figure>



ACCRA, Jan 9 (Reuters)&nbsp;&#8211;&nbsp;Ghana&#8217;s new government could seek extra funding from the International Monetary Fund during its current, three-year programme with the lender in order to cushion the economy, finance minister designate Cassiel Ato Forson said on Thursday.



President John Dramani Mahama, who was sworn into office this week after beating the ruling party candidate in December&#8217;s election, picked the former minority leader in parliament to serve in the key post of finance minister.



&#8220;We are committed to work with the IMF, but we also want to ensure that we can raise financing; additional finance, working with IMF and other domestic, international partners,&#8221; Forson, told reporters, ahead of a meeting with an IMF team that is currently visiting Accra.



&#8220;The reliance on Treasury bills and others has not been very helpful,&#8221; said Forson, who also served as a deputy finance minister before.



The IMF did not immediately respond to a request for comment.



Forson, a 46-year old chartered accountant who holds a Masters degree in taxation from Oxford and a doctorate in finance from a local university, said the new administration would also cut public spending to help lower inflation further.



&#8220;There is a lot of wastage in the system and we will cut them,&#8221; he said, adding that the move will also help the government to restart domestic bond issuance by mid-year.



The West African gold and cocoa producer defaulted on most of its external debt in 2022, leading to a painful restructuring which is at its tail end.



Mahama&#8217;s government would conclude the process by striking a deal with its non-Eurobond commercial creditors, Forson said.



<h2 class="wp-block-heading" id="h-revisiting-imf-deal">REVISITING IMF DEAL</h2>



The new president, who previously occupied the office in 2012-17, had pledged to renegotiate the terms of Ghana&#8217;s bailout deal with the IMF during the campaign.



But market participants have taken the view he had limited room for manoeuvre and was unlikely to abandon the current IMF programme in spite of that campaign rhetoric.



His promise mirrored those of other reformist candidates elected into office in emerging markets last year, including Sri Lanka&#8217;s Anura Kumara Dissanayake, who rode on a promise of reconsidering the terms of an IMF programme and debt restructuring.



Mahama has pledged to swiftly assemble a government able to rapidly address growing discontent by boosting the economy and creating jobs.



He also picked John Abdulai Jinapor to serve as energy minister and Dominic Akuritinga Ayine to the post of attorney general and justice minister, the presidency said on Thursday.



The new government has inherited an economy emerging from its worst crisis in a generation.



Ministerial nominees have to be approved by Parliament, where Mahama&#8217;s National Democratic Congress (NDC) party holds a two-thirds majority.



Forson pledged to overhaul the management of the crucial cocoa sector, which has been facing challenges in recent years.



&#8220;We need to look at the issues of funding, diseased crops and production very well. The whole sector needs an overhaul,&#8221; he said.



Forson was charged in connection with the loss of public funds through an ambulance supply deal when he was deputy finance minister, before being acquitted by the courts.



(Additional rewriting by Christian Akorlie; Writing by Portia Crowe and Duncan Miriri; Editing by Karin Strohecker and Alex Richardson)

GFFKBSSER5LL7JUFKFZRKRAD64

Ghana could seek more IMF funding, incoming finance minister says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="720" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/KHGGXMJKWZP7HCVFIAWSDLU6LM.avif" alt="" class="wp-image-573702"/><figcaption class="wp-element-caption">Nigerian Foreign Minister Yusuf Tuggar speaks during a press conference following talks with his Russian counterpart Sergei Lavrov in Moscow, Russia, March 6, 2024. Alexander Zemlianichenko/Pool via REUTERS/File Photo</figcaption></figure>



ABUJA, Jan 9 (Reuters)&nbsp;&#8211;&nbsp;Nigeria and China plan to deepen cooperation in areas such as clean energy, defence and finance, with China pledging support for Nigeria&#8217;s issuance of Panda bonds to fund infrastructure, the two countries&#8217; foreign ministers said on Thursday.



Nigerian Foreign Minister Yusuf Tuggar and his Chinese counterpart Wang Yi also outlined efforts to address regional security challenges.



Wang was visiting Nigeria as part of a wider four-nation tour of Africa, an annual journey seen as aimed at advancing Beijing&#8217;s already considerable influence on the continent.



His visit to Nigeria follows recent high-level exchanges, including intergovernmental committee talks in Beijing last June and Nigerian President Bola Tinubu&#8217;s state visit to China in September.



These meetings have culminated in the elevation of bilateral relations to a &#8220;comprehensive strategic partnership&#8221;, Wang told a press conference.



Wang said China will &#8220;favourably study and consider&#8221; a request by Nigeria to expand a currency swap agreement.



On regional peace and security, Wang said that at the United Nations Security Council China would always vote in favour of Africa, adding it would continue to support Nigeria in rallying countries in the region.



&#8220;We will work with Africa to address insecurity and achieve long-term stability through development,&#8221; he said.



(Writing by Elisha Bala-Gbogbo; Editing by Frances Kerry)

KHGGXMJKWZP7HCVFIAWSDLU6LM

Nigeria, China deepen ties with pledge on security, finance and economic growth

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_IIYWQDB4WFNKFJIYVD4GQSNLGM-1-820x547.jpg" alt="" class="wp-image-573699" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_IIYWQDB4WFNKFJIYVD4GQSNLGM-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_IIYWQDB4WFNKFJIYVD4GQSNLGM-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_IIYWQDB4WFNKFJIYVD4GQSNLGM-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_IIYWQDB4WFNKFJIYVD4GQSNLGM-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_IIYWQDB4WFNKFJIYVD4GQSNLGM-1.jpg 1080w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A local farmer sprays a pesticide on her maize field in Chikwawa District, Malawi March 19, 2018. REUTERS/Eldson Chagara/File Photo</figcaption></figure>



CHIKWAWA, Malawi, Jan 9 (Thomson Reuters Foundation)&nbsp;&#8211;&nbsp;Maxwell Nsona stood in the dried-out bed of the Nthumba River in Malawi&#8217;s southern Chikwawa district and recalled how this wide ribbon of footprint-studded sand turned into a raging torrent during heavy rains a decade ago.



The fear is that this could happen again as a country brought to its knees by southern Africa&#8217;s worst drought in decades braces for a rainy season that meteorologists say could bring widespread flooding and landslides.



People, animals and the very land across huge swathes of southern Africa have been depleted and desiccated with millions of people going hungry and economies faltering.



The drought has been fuelled by El Niño, a climate phenomenon that can exacerbate drought or storms &#8211; weather conditions that are made more likely by climate change.



Rain is desperately needed in Malawi, but with deliverance from drought comes danger and that is because the impending La Niña weather phenomenon, which involves the cooling of ocean surface temperatures, could bring increased rainfall, but it also threatens flooding, soil erosion and landslides.



It is not as though Nsona and his fellow farmers from Pende village have been idle either.



They have done what they can to prepare for what they know is coming in a country that regularly experiences the deadly, and ever more frequent, pendulum swing from life-threatening droughts to devastating floods.



For example, they built dykes along the river and reinforced the banks with rocks and by planting trees and other vegetation.



&#8220;We made a resolution to find a solution after floods had displaced a chief and killed three people almost 10 years ago,&#8221; said the 50-year-old father-of-three, who has lived in the region his whole life and grows maize, millet and cotton.



&#8220;We tried to redirect it back to its course using hoes and shovels &#8230; We also built a 150-metre dyke using an excavator, but it was washed away when cyclones Ana and &#8230; Freddy hit this area,&#8221; he said, explaining that two relief agencies helped them with the construction.



Cyclone Ana hit Malawi in 2022, and Freddy, one of the deadliest storms to hit the continent in two decades, ripped through Malawi just over a year later.



Another storm season has already begun, with devastating consequences.



On Dec. 14, peoples&#8217; cell phones beeped with a warning from the Department Of Disaster Management Affairs: Cyclone Chido was on its way and could bring torrential rains and flooding.



The message, sent in local languages, told people to head for the hills, if they could.



Just two days later, after laying waste to the French overseas territory of Mayotte off Africa&#8217;s east coast, Chido barrelled into Malawi, killing at least 13 people, destroying homes and leaving many communities without food, water and healthcare.



ROTTING MANGOES



Malawi declared a state of disaster in March 2024 as the drought decimated crops, leaving around 5.7 million people &#8211; 20% of the population &#8211; facing acute food insecurity.



At the end of the year, rains started in some parts of Malawi, a country where more than 80% of people depend on agriculture for their livelihoods, but these downpours have also caused problems among people who have been left with few resources as crops wilted in the fields.



In November, heavy winds and rain struck Namwera, an area in Malawi&#8217;s old capital Zomba, damaging homes and blowing the drought-resistant mangoes that people rely on for food off the trees.



In the nearby district of Machinga, which was not affected by the storm, Hanna Wethiwa, 52, was busy picking fresh mangoes from trees outside her home in Lumera village.



She cut them up and boiled them over an outside fire before adding a powdered juice, which costs around 700 Malawi kwacha ($0.4077), as two of her six children waited eagerly nearby for their meal.



Apart from mangoes, Wethiwa has been relying on wild yams and grass seeds to survive, even though there are reports of people dying from food poisoning after eating wild tubers.



&#8220;This year has been the hardest because all of our crops dried due to the drought. We started eating sorghum-like grass seeds, which we fetched from the bush,&#8221; the mother-of-seven told the Thomson Reuters Foundation.



&#8220;We dry them, pound and cook porridge, but they did not last long because every household was relying on them.&#8221;



CALLS FOR INTERNATIONAL HELP



At November&#8217;s COP29 climate summit in Azerbaijan, Malawi&#8217;s Vice President Michael Usi, who was also representing the Least Developed Countries (LDC) group, told delegates climate change &#8220;is not a distant abstraction&#8221;.



He said floods, droughts, and unpredictable weather patterns were disrupting lives in Malawi and threatening the well-being of future generations.



&#8220;For a country like Malawi, the consequences are not only economic, but also deeply inhumane. The catastrophe compromises food security, public health and infrastructure development, exacerbates poverty and undermines our hard-won development gains,&#8221; he said.



Although Malawi&#8217;s greenhouse gas emissions are among the lowest in the world, Usi said the country was committed to reducing them further. He also said Loss and Damage funding must be made available to vulnerable countries.



Countries at the COP29 summit adopted a $300-billion-a-year global finance target to help poorer nations cope with impacts of climate change, but those countries said it was woefully insufficient.



In the meantime, officials in Malawi must do the best they can. Like Daniel Mandala, the district disaster risk management officer for Nsanje in southern Malawi, where areas around the Shire River are prone to flooding.



He is busy preparing for coming months by reviewing the district disaster contingency plan, which includes all emergency activities ranging from preparedness, response and recovery.



&#8220;Prevention is better than cure hence the (Nsanje district) council is also warning communities to relocate to safe places before the rains reach their climax,&#8221; he said, adding that people were being urged to take weather warnings seriously.



Mandala said flooding and storms had become more frequent and intense in Nsanje over the last decade.



&#8220;It is not necessarily difficult to manage annual disasters as we already know the areas to be affected and the estimated number of households to be affected,&#8221; he said.



&#8220;The only challenge is the magnitude of the flooding, which has increased, and the reluctance of some communities to move to upland when early warnings are issued in good time.&#8221;



($1 = 1,717.0200 kwacha)



(Reporting by Charle Pensulo; Editing by Clar Ni Chonghaile and Jon Hemming)

https___cloudfront-us-east-2.images.arcpublishing.com_reuters_IIYWQDB4WFNKFJIYVD4GQSNLGM

In parched Malawi rains promise deliverance but also danger

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GFFKBSSER5LL7JUFKFZRKRAD64.avif" alt="" class="wp-image-573655"/><figcaption class="wp-element-caption">Ghana&#8217;s President-elect John Dramani Mahama speaks during the swearing-in ceremony for his second term at the Black Star Square in Accra, Ghana January 7, 2025. REUTERS/Francis Kokoroko/File Photo</figcaption></figure>



ACCRA, Jan 9 (Reuters)&nbsp;&#8211;&nbsp;Ghana&#8217;s new President John Dramani Mahama has named leader of Parliament Cassiel Ato Forson as finance minister, as he seeks to assemble a government able to rapidly address growing discontent by boosting the economy and creating jobs.



Mahama, who was sworn in on Tuesday after winning an election in December, named John Abdulai Jinapor as energy minister and Dominic Akuritinga Ayine as attorney general and justice minister, a presidency statement said on Thursday.



The new government has inherited an economy emerging from its worst crisis in a generation.



Mahama, who served a first term in office from 2012 to 2017, has pledged to prioritise economic recovery and stability, improve the business and investment climate and fight graft.



On the campaign trail, he pledged to nominate all cabinet ministers within his first 14 days in office, and to keep cabinet the lean.



Ministerial nominees have to be approved by Parliament, where Mahama&#8217;s National Democratic Congress (NDC) party holds a two-thirds majority.



Forson, a 46-year old chartered accountant and lawmaker representing the Ajumako-Enyan-Essiam constituency in Ghana&#8217;s Central Region, served as deputy finance minister during Mahama&#8217;s first term.



After Mahama and the NDC were voted out of power in late 2016, Forson led the party&#8217;s finance and economic team in Parliament, and in January 2023 was made the leader of the opposition in parliament.



He holds a PhD in finance from Ghana&#8217;s Kwame Nkrumah University of Science and Technology (KNUST) and a Master of Science in taxation from the University of Oxford.



(Additional rerting by Christian Akorlie; Writing by Portia Crowe; Editing by Alison Williams, Frances Kerry, William Maclean)

Ghana’s president names Cassiel Ato Forson as finance minister

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="418" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/LYEEWJTJKRPK3GJPCKWFP3EK7E.avif" alt="" class="wp-image-573641"/><figcaption class="wp-element-caption">A teller counts Kenya shilling notes inside the cashier&#8217;s booth at a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File photo</figcaption></figure>



NAIROBI, Jan 9 (Reuters)&nbsp;&#8211;&nbsp;The Kenyan and Ugandan shillings, Ghanaian cedi and Zambia&#8217;s kwacha are all expected to ease against the dollar in the next week to Thursday, traders said.



KENYA



Kenya&#8217;s shilling&nbsp;KES=&nbsp;is forecast to weaken on increased demand for dollars from importers across all sectors of the economy.



Commercial banks quoted the shilling at 129.00/130.00 per dollar, compared with last Thursday&#8217;s close of 129.00/129.50.



&#8220;The shilling is on an upward (weakening) trend. Right now (dollar demand) is from a mix of all sectors in the economy,&#8221; a trader at one commercial bank said.



UGANDA



The Ugandan shilling&nbsp;UGX=&nbsp;is seen weakening on the back of strong demand by players in the interbank market looking to build healthy foreign exchange positions as the new year starts, traders said.



Commercial banks quoted the shilling at 3,694/3,704 on Thursday, compared to 3,673/3,683 a week ago.



&#8220;Normally as the year starts we tend to see elevated (dollar) demand,&#8221; said a trader at one commercial bank.



He said the shilling was likely to weaken to around 3,720 against the dollar.



GHANA



Ghana&#8217;s cedi&nbsp;GHS=&nbsp;is expected to remain softer against the dollar next week as demand remains subdued, traders said.



LSEG data showed the cedi trading at 14.70 to the dollar on Thursday, compared to 14.65 at last Thursday&#8217;s close.



&#8220;The cedi has been on the ropes recently, largely on the back of weaker FX flows. Demand from local corporates has also begun to ramp up, further contributing to the weaker cedi in the week,&#8221; said Sedem Dornoo, a senior trader at Absa Bank Ghana.



&#8220;It is likely that the local unit will remain under pressure in the coming week as demand continues to ramp up as several businesses kick start operations for the year,&#8221; he added.



ZAMBIA



Zambia&#8217;s kwacha&nbsp;ZMW=&nbsp;is likely to remain under pressure against the dollar as a severe drought continues to weigh on the local currency.



On Thursday, the currency of Africa’s second largest copper producer was trading at 27.9000 compared to 27.7750 last Thursday. It has hit a series of record lows since the start of the year.



&#8220;The drought has resulted in significant payments for imported electricity and reduced copper production – a key foreign currency earner – weighing on the kwacha,&#8221; Access Bank said in a note on Thursday.



(Reporting by George Obulutsa, Elias Biryabarema, Christian Akorlie and Chris Mfula; Editing by Kirsten Donovan)

LYEEWJTJKRPK3GJPCKWFP3EK7E

AFRICA-FX – African currencies seen weakening

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1200" height="694" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_2RDQ23M7XBMRNLWULMA2ULYTGU.avif" alt="" class="wp-image-573616"/><figcaption class="wp-element-caption">The Royal Dutch Shell logo is seen at a Shell petrol station in London, January 31, 2008. REUTERS/Toby Melville/File Photo</figcaption></figure>



LONDON, Jan 8 (Reuters) &#8211; Shell SHEL.L will write down around $400 million over an oil discovery offshore Namibia that it deemed commercially unviable in a blow to the southern African country&#8217;s efforts to become a crude producer.



Shell&nbsp;told Reuters that discovered oil and gas resources in offshore block PEL39 in Namibia &#8220;cannot currently be confirmed for commercial development.&#8221;



Shell and its partners QatarEnergy and Namibia&#8217;s national oil company first discovered hydrocarbon in block PEL39 in 2022, which together with another discovery TotalEnergies&nbsp;TTEF.PAmade in a nearby block sparked huge global interest in the southern African country which has no oil and gas production.



Shell drilled nine wells in the licence over the past three years, making several other discoveries.



More recently, Portuguese oil company Galp also made a major discovery in a different offshore licence.



But the British company encountered technical and geological difficulties for the development of the resources.



CEO Wael Sawan told analysts on Oct. 31 that Namibia&#8217;s acreage was &#8220;very challenging,&#8221; and that the lower permeability of the rock made extracting oil and gas harder.



Sources told Reuters that the offshore discoveries also had a high natural gas content, further complicating their development.



The company said in a trading update ahead of fourth quarter results on Jan. 30 that it expects to take an exploration write off of around $400 million, without providing details.



It will take another $300 million write off related mainly to exploration licences in Colombia, the company said.



(Reporting by Ron Bousso; Editing by Chris Reese and Nick Zieminski)

https___cloudfront-us-east-2.images.arcpublishing.com_reuters_2RDQ23M7XBMRNLWULMA2ULYTGU

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="428" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_XITIO74YJBM5XNTYYV6EQSSGSY.avif" alt="" class="wp-image-573601"/><figcaption class="wp-element-caption">South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, File. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, Jan 9 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Thursday.



ECONOMIC EVENTS



November manufacturing output&nbsp;ZAMAN=ECI



SOUTH AFRICAN MARKETS



South Africa&#8217;s rand weakened as a buoyant dollar and disappointing domestic economic data releases weighed on the local currency on Wednesday.



On the stock market, the Top-40&nbsp;.JTOPI&nbsp;index closed about 1.12% lower.&nbsp;.JZAR/



GLOBAL MARKETS



The global bond rout that has pressured equities and boosted the safe-haven U.S. dollar showed signs of slowing on Thursday, even as Japanese yields edged to new multi-year highs.MKTS/GLOB



WALL STREET



U.S. stocks ended little changed on Wednesday in a session they struggled for a clear direction, as investors digested the impact of two conflicting sets of jobs data and a report that said President-elect Donald Trump was mulling a national economic emergency declaration on inflation.&nbsp;.N



GOLD



Gold prices retreated on Thursday on profit-booking after hitting a near four-week peak in the last session, while focus shifted to jobs report due on Friday for clarity on the Federal Reserve&#8217;s 2025 interest rate path.&nbsp;GOL/



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



BUSINESS DAY



&#8211; JSE weaker as investors assess US jobs reports



&#8211; Coca-Cola keeps JSE and investors thirsty over mega listing



FIN 24



&#8211; Prosus says it still has appetite for risk, even as it looks to close its biggest deal in years



(Compiled by Sfundo Parakozov)

https___cloudfront-us-east-2.images.arcpublishing.com_reuters_XITIO74YJBM5XNTYYV6EQSSGSY

South African Markets – Factors to watch on Jan 9

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_EJOTF6BC3JMHFC7FJKGZLL5WDE-1-820x547.jpg" alt="" class="wp-image-573387" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_EJOTF6BC3JMHFC7FJKGZLL5WDE-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_EJOTF6BC3JMHFC7FJKGZLL5WDE-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_EJOTF6BC3JMHFC7FJKGZLL5WDE-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_EJOTF6BC3JMHFC7FJKGZLL5WDE-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_EJOTF6BC3JMHFC7FJKGZLL5WDE-1.jpg 1080w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Abuja-Kaduna train services resumes after an attack on its passengers by bandits in March, in Abuja, Nigeria December 5, 2022. REUTERS/Afolabi Sotunde</figcaption></figure>



LAGOS, Jan 8 (Reuters) &#8211; China Development Bank has released a $254.76 million loan to Nigeria for a railway project linking the two northern states of Kano and Kaduna, the bank said, ahead of a visit to the West African country by China&#8217;s top diplomat this week.



As part of his annual New Year tour of Africa, China&#8217;s Foreign Minister Wang Yi will arrive in Nigeria on Wednesday and meet President Bola Tinubu and senior government officials on Thursday, Nigeria&#8217;s foreign affairs ministry said.



Construction of the Kaduna-to-Kano rail project, which is expected to cost $973 million, has been slowed by funding delays.



China Development Bank said in a statement on its website that the loan would provide financial support for the smooth progress of the 203-kilometre (126-mile) standard-gauge railway.



&#8220;Once completed, it will provide direct rail connectivity between Kano, an important northern city in Nigeria, and the country&#8217;s capital Abuja, offering local residents a safe, efficient, and convenient mode of transportation,&#8221; the bank said.



Nigeria&#8217;s parliament first approved China&#8217;s Exim Bank as financier for the rail project in 2020 but the bank later withdrew.



The Kano-Kaduna railway project is part of China&#8217;s Belt and Road Initiative and is being constructed by China Civil Engineering Construction Corporation.



It is also expected to ease movement of people and goods in a region, where road travellers face attacks from armed gangs who kidnap for ransom.



China is among Nigeria&#8217;s largest bilateral lenders, providing loans for roads, rail and power stations.



(Reporting by MacDonald Dzirutwe; Editing by Alex Richardson)

https___cloudfront-us-east-2.images.arcpublishing.com_reuters_EJOTF6BC3JMHFC7FJKGZLL5WDE

China Development Bank releases $255 mln for Nigeria rail project

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/FHI2NVCH5ZJB7MSERIE6PSCJPE.avif" alt="" class="wp-image-573381"/><figcaption class="wp-element-caption">A woman displays a selection of Kwacha notes, the national currency and money used in Zambia in Lusaka, Zambia February 27, 2024. REUTERS/Namukolo Siyumbwa/File Photo</figcaption></figure>



LUSAKA, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;Zambia&#8217;s kwacha&nbsp;ZMW=&nbsp;has hit a series of record lows since the start of the year as a severe drought keeps the pressure firmly on the copper-producing Southern African country&#8217;s economy.



Analysts had hoped Zambia&#8217;s emergence from default early last year would have helped sentiment, but the currency is now roughly 3% below where it was before its debt restructuring deal and has fallen nearly 15% over the last six months.



It was trading at 27.95 per dollar on Wednesday, just above the latest record low of 28.05 on Tuesday.



&#8220;Zambia is in a state of severe drought, and this appears to manifest in currency weakness as the hydroelectrically dependent country faces an industrial slowdown,&#8221; Access Bank Zambia said in a research note.



&#8220;Mining companies are being forced to reduce copper production, a key foreign revenue earner,&#8221; it added.



The severe effects of El Niño caused the worst dry spell in southern Africa in a century last year, devastating crop production and forcing Zambia&#8217;s authorities to cut electricity generation on the Kariba dam, the biggest source of electricity.



The kwacha plunged when Zambia defaulted on $11 billion worth of external debt in November 2020, but saw a brief 20% jump last February when it became clear its restructuring efforts were going to be successful.



One financial analyst in Lusaka said some companies had sold dollars during Wednesday&#8217;s session in preparation for local tax payments next week, offering some support to the kwacha.



(Reporting by Chris Mfula; Writing by Duncan Miriri; Editing by Marc Jones and Christina Fincher)

FHI2NVCH5ZJB7MSERIE6PSCJPE

Zambia’s currency stuck at record low as drought persists

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="407" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_TA2USGDCXBOXJAPYDCXGGP66XA.jpg" alt="" class="wp-image-573372" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_TA2USGDCXBOXJAPYDCXGGP66XA.jpg 640w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_TA2USGDCXBOXJAPYDCXGGP66XA-300x191.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_TA2USGDCXBOXJAPYDCXGGP66XA-142x90.jpg 142w" sizes="auto, (max-width: 640px) 100vw, 640px" /><figcaption class="wp-element-caption">A general picture shows the skyline of Tanzania&#8217;s port city of Dar es Salaam, File. REUTERS/Andrew Emmanuel</figcaption></figure>



DAR ES SALAAM, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;Tanzania&#8217;s central bank left its key interest rate&nbsp;TZINTR=ECI&nbsp;unchanged at 6% on Wednesday, holding it steady for a&nbsp;third consecutive&nbsp;policy meeting, with an aim of keeping inflation below its target.



When it launched the rate in January 2024, the bank set it at 5.50%. The bank targets inflation of 5%, and consumer inflation has stayed comfortably below that figure.



Inflation is forecast to stay around the range of 3.1% and 4% in the first quarter, Bank of Tanzania Governor Emmanuel Tutuba said in a statement.



Tanzania&#8217;s economy is forecast to grow by about 6% this year from an estimated 5.4% in 2024, its finance minister and central bank governor said in November in a letter to the International Monetary Fund.



The economy is forecast to grow 5.7% year-on-year in the first quarter, Tutuba said.



(Reporting by Nuzulack Dausen; Writing by George Obulutsa; Editing by Bernadette Baum)

https___cloudfront-us-east-2.images.arcpublishing.com_reuters_TA2USGDCXBOXJAPYDCXGGP66XA

Tanzania central bank holds key interest rate unchanged for a third time

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/AXGKYDH4PFJ6TDMBPUR33LNVXM.avif" alt="" class="wp-image-573364"/><figcaption class="wp-element-caption">A general view of the Makola market, one of the country&#8217;s largest trading centres in Accra, Ghana March 26, 2022. Picture taken March 26, 2022. REUTERS/Francis Kokoroko/File Photo</figcaption></figure>



ACCRA, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;Ghana&#8217;s consumer inflation&nbsp;GHCPIY=ECI&nbsp;rose for a fourth month in a row in December, to 23.8% year on year from 23.0% in November, the statistics service said on Wednesday.



Government statistician Samuel Kobina Annim told a news conference that the latest increase was driven by higher food prices.



&#8220;The rate of inflation&#8230; is the third highest in the last 13 months and highest in the last eight months,&#8221; Annim said.



The West African gold and cocoa producer has been struggling to emerge from its worst economic crisis in a generation.



President John Dramani Mahama, who was sworn in for a second term on Tuesday, has pledged to tackle inflation and currency depreciation to mitigate Ghana&#8217;s cost-of-living crisis.



(Reporting by Maxwell Akalaare Adombila and Christian Akorlie; Writing by Anait Miridzhanian;Editing by Bernadette Baum and Christina Fincher)

AXGKYDH4PFJ6TDMBPUR33LNVXM

Ghana inflation rises for fourth straight month in December

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="425" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/FN6SHZMGJVMXJICANZS4G326BA.avif" alt="" class="wp-image-573328"/><figcaption class="wp-element-caption">A general view shows the Tetra Pak factory floor in Durban, South Africa, April 4, 2024. REUTERS/Rogan Ward/File photo</figcaption></figure>



JOHANNESBURG, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;South African manufacturing activity fell for the second month in a row in December, a local purchasing managers&#8217; index (PMI) survey showed, as demand declined.



The seasonally-adjusted PMI sponsored by South African bank Absa slipped to 46.2 points in December 2024 from 48.1 points in November, remaining below the 50-point mark that separates expansion from contraction of manufacturing output in Africa&#8217;s most industrialised economy.



&#8220;The manufacturing sector experienced a volatile 2024, with this second consecutive monthly decline in December reversing the upward momentum seen in September and October,&#8221; Absa said in a statement.



The business activity index fell 8.7 points to 40.3, and the new sales orders sub-index also fell.



&#8220;Worryingly, some respondents noted that conditions in December 2024 were worse than usually seen in December,&#8221; Absa added.



But the bank said the sub-index which measures expected business conditions in six months&#8217; time rose in December, showing that manufacturers remain positive about future business conditions.



Export sales figures fell to levels seen in the first half of 2024, while the supplier deliveries index moved above 50 points for the first time in three months.



(Reporting by Tannur Anders; Editing by Tim Cocks)

FN6SHZMGJVMXJICANZS4G326BA

South African factory sector contracts for second consecutive month in December, Absa PMI shows

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="455" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/V3RZUHSNTJNKLBFQBJIVO57VX4.avif" alt="" class="wp-image-573325"/><figcaption class="wp-element-caption">A Faberge emerald gemstone Emotion ring is seen at the Gemfields office in central London, November 17, 2014/File Photo</figcaption></figure>



Jan 8 (Reuters)&nbsp;&#8211;&nbsp;Coloured gemstone producer Gemfields&nbsp;GEMGE.L,&nbsp;GMLJ.J&nbsp;has asked the Zambian government to remove a recently re-introduced 15% export tax on emeralds to avoid hurting the sector.



The southern African country, the world&#8217;s second largest emerald producer after Colombia, re-introduced the tax on Jan.1, after it was suspended in 2019.



&#8220;The company will engage with the Zambian government to seek the re-introduction of the suspension of this export duty or to remove it from the legislation given the impact on sector



sustainability and investment attractiveness,&#8221; Gemfields said in a statement.



The Guernsey-based miner and marketer of coloured gemstones operates the Kagem emerald mine in Zambia, one of the biggest in the world. Gemfields also owns the Faberge jewellery brand and a ruby mine in Mozambique.



Kagem paid an effective 31% of its revenues to the Zambian government in the form of mineral royalty, corporation tax and dividends, the company said in 2023. Gemfields owns 75% of Kagem, with the government of Zambia holding the balance.



The Kagem mine has reported cumulative emerald sales revenue of $1.1 billion between 2009 and 2023, according to Gemfields.



(Reporting by Nelson Banya; Editing by Christina Fincher)

V3RZUHSNTJNKLBFQBJIVO57VX4

Gemfields asks Zambia to reverse emerald export tax

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-573311" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Jan 8 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Wednesday.



ECONOMIC EVENTS



South Africa&#8217;s December reserves data



Absa manufacturing sector PMI survey



SOUTH AFRICAN MARKETS



South Africa&#8217;s rand slipped against a resurgent dollar on Tuesday, after positive U.S. data suggested the Federal Reserve would likely be cautious in cutting interest rates.



On the stock market, the Top-40&nbsp;.JTOPI&nbsp;index closed about 1% lower.&nbsp;.JZAR/



GLOBAL MARKETS



Asian stocks drifted lower on Wednesday, with a robust dollar keeping the yen pinned near six-month lows as traders wagered the Federal Reserve will likely be slow in cutting rates after data showed the U.S. economy and labour market remained stable.MKTS/GLOB



WALL STREET



U.S. stocks tumbled on Tuesday after a batch of upbeat economic data raised concerns that an inflation rebound could slow down the Federal Reserve&#8217;s pace of monetary policy easing.&nbsp;.N



GOLD



Gold prices edged lower on Wednesday, pressured by higher U.S. Treasury yields and a stronger dollar after data suggested the Federal Reserve might slow the pace of rate cuts this year.GOL/



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



BUSINESS DAY



&#8211; IMF says Reserve Bank is a model of transparency but must do more



&#8211; A fun year ahead for deal making



FIN 24



&#8211; Naspers group loses R225bn as US labels Tencent a &#8216;Chinese military company&#8217;



(Compiled by Sfundo Parakozov; Editing by Tannur Anders)

istockphoto-1076949610-612×612-1-2

South African Markets – Factors to watch on Jan 8

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="433" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/KAXVEG334FMHJCVIWZPNP6IK54.avif" alt="" class="wp-image-573106"/><figcaption class="wp-element-caption">Ghanaian President John Dramani Mahama (L) takes the oath during his inauguration ceremony at the Independence Square in Accra January 7, 2013. REUTERS/Stringer/File Photo</figcaption></figure>



ACCRA, Jan 7 (Reuters)&nbsp;&#8211;&nbsp;John Dramani Mahama&nbsp;was sworn&nbsp;in for a second term as Ghana&#8217;s president on Tuesday&nbsp;at a ceremony in the capital Accra, pledging to overcome public discontent by boosting the economy and creating much-needed jobs.



The opposition leader, 66, won the Dec. 7 presidential election by a wide margin to stage a political comeback in the West African nation, the world&#8217;s number-two cocoa producer.



He replaces Nana Akufo-Addo, who steps down after serving two terms, continuing Ghana&#8217;s democratic tradition in a region gripped elsewhere by military coups and jihadist insurgencies.



Over 20 presidents and heads of state from around the world attended the rite in Accra&#8217;s independence square, the scene of Ghanaian presidential inaugurations since Kwame Nkrumah was sworn in over six decades ago.



&#8220;We are a people battered by economic crises and hardships. But there&#8217;s hope on the horizon,&#8221; Mahama said in a speech to cheers from thousands of boisterous supporters.



Following the COVID-19 pandemic, a cost-of-living crisis, an ongoing bailout from the International Monetary Fund and a sovereign debt default, Ghana&#8217;s economy is again growing.



But Mahama&nbsp;is under&nbsp;pressure to deliver quickly on campaign promises to curb high youth unemployment and root out entrenched corruption &#8211; issues that have&nbsp;fuelled&nbsp;distrust in Ghana&#8217;s political system.



&#8220;The average Ghanaian is growing impatient with our democracy,&#8221; Godfred Bokpin, a finance professor at the University of Ghana, told Reuters.



&#8220;People have done their part by voting but they&#8217;re asking: what have they gotten from this democracy?&#8221;



POWER CRISIS AND HUNGER



In his speech, Mahama said his new economic model would be anchored in agriculture and agribusiness, and would provide jobs for young people, stimulate local industry and attract foreign investment.



Analysts and supporters of Mahama’s National Democratic Congress (NDC) party see his two-thirds majority in parliament as a strong mandate to take tough decisions and implement credible policies to improve livelihoods and regain investor confidence.



But a looming power crisis will pose an early challenge with preliminary estimates showing arrears to service providers in excess of $2.5 billion. The worsening outlook threatens to curtail output and hamper the nascent economic recovery.



&#8220;The outgoing government kept the system running by bandaging open sores,&#8221; said Bright Simons of Accra-based IMANI think tank. &#8220;They left the festering wounds for him.&#8221;



Other issues requiring immediate attention are high inflation and exchange rate challenges that are squeezing the incomes of ordinary Ghanaians.



Inflation rose for the third month in a row in November to 23.0%, boosted by surges in food prices.



&#8220;We can talk about the skyscrapers and complex things but the reality is that the average Ghanaian is hungry. You must prioritise food production,&#8221; Bokpin said.



(Reporting by Maxwell Akalaare Adombila; Writing by Anait Miridzhanian; Editing by Angus MacSwan)

Reuters

US to return $52.88 mln in assets forfeited by ex-Nigerian oil minister

Shell writes down Namibia oil discovery in blow to country

Ghana could seek more IMF funding, incoming finance minister says

Nigeria, China deepen ties with pledge on security, finance and economic growth

In parched Malawi rains promise deliverance but also danger

Ghana’s president names Cassiel Ato Forson as finance minister

AFRICA-FX – African currencies seen weakening

Shell writes down Namibia oil discovery in blow to country

South African Markets – Factors to watch on Jan 9

China Development Bank releases $255 mln for Nigeria rail project

Zambia’s currency stuck at record low as drought persists

Tanzania central bank holds key interest rate unchanged for a third time

Ghana inflation rises for fourth straight month in December

South African factory sector contracts for second consecutive month in December, Absa PMI shows

Gemfields asks Zambia to reverse emerald export tax

South African Markets – Factors to watch on Jan 8

Ghana’s Mahama returns as president, vowing to boost economy

News Tips

Advertise With Us

Reuters

US to return $52.88 mln in assets forfeited by ex-Nigerian oil minister

Shell writes down Namibia oil discovery in blow to country

Ghana could seek more IMF funding, incoming finance minister says

Nigeria, China deepen ties with pledge on security, finance and economic growth

In parched Malawi rains promise deliverance but also danger

Ghana’s president names Cassiel Ato Forson as finance minister

AFRICA-FX – African currencies seen weakening

Shell writes down Namibia oil discovery in blow to country

South African Markets – Factors to watch on Jan 9

China Development Bank releases $255 mln for Nigeria rail project

Zambia’s currency stuck at record low as drought persists

Tanzania central bank holds key interest rate unchanged for a third time

Ghana inflation rises for fourth straight month in December

South African factory sector contracts for second consecutive month in December, Absa PMI shows

Gemfields asks Zambia to reverse emerald export tax

South African Markets – Factors to watch on Jan 8

Ghana’s Mahama returns as president, vowing to boost economy

News Tips

Advertise With Us

Newsletters