<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-820x547.jpg" alt="" class="wp-image-419915" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-1240090144-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>The World Bank Group headquarters in Washington, D.C., U.S., on Tuesday, April 19, 2022. The International Monetary Fund (IMF) slashed its world growth forecast by the most since the early months of the Covid-19 pandemic, and projected even faster inflation, after Russia invaded Ukraine and China renewed virus lockdowns. Photographer: Al Drago/Bloomberg via Getty Images</figcaption></figure>



In conversation with the World Bank on the country’s Just Energy Transition ahead pf COP27 in November



The World Bank says it will fund the decommissioning of Eskom’s Komati power station with about $500 million as part of a package to help South Africa’s plans to wean off coal, move to clean energy and address its current energy crises.



The bank’s Vice President for Eastern and Southern Africa Victoria Kwakwa was in South Africa this week where she met with government ministers as part of broad consultations on the country’s Just Energy Transition whose funding has been criticised by some analysts.



&#8220;The transition is not just about getting out of coal,’’ she said on CNBC Africa’s Power Lunch. &#8220;The transition is also about how the sector is organised, about the effectiveness and efficiency of Eskom as a corporate.&#8221;



South Africa’s $8.5 billion Just Energy Transition plan which is being funded by United States, France, Germany, the United Kingdom and the European Union seeks to help build a sustainable energy sector, create jobs as well as boosting economic growth. It also aims to fight against climate change by achieving net zero carbon emissions by 2050.



A report produced by South Africa’s Stellenbosch University earlier this year found the country requires $250 billion over the next three decades to rid the world’s 12th largest emitter of climate warming gasses from its coal dependency.



Kwakwa said transitioning out of coal is expected help South Africa and the rest of the continent on a path to a sustainable economic recovery and competitive economy.



&#8220;South Africa matters, there&#8217;s a positive spill over effect for Sub Saharan Africa if South Africa does well,&#8221; she said. &#8220;Given the importance of South Africa, we&#8217;re really keen to see it get back on a path of rapid growth.’’



South Africa is finalizing its investment plan for the money pledged by the West for its transition plan ahead of the COP27 climate conference to be held in Egypt at the end of October. About 80 percent of the funds pledged are in loans with the balance in grants, a structure criticised by some because of the debt burden it will place on the country’s future.



&#8220;I don&#8217;t think it&#8217;s a transition that&#8217;s simply and purely about delivering a global public good. I think the more important thing is, &#8216;what&#8217;s in it for South Africa?,’” Kwakwa said. &#8220;Big results await.&#8221;

IMF And World Bank Headquarters During Virtual Spring Meetings

World Bank promises support for South Africa’s Just Energy Transition plan

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-871561764-820x547.jpg" alt="" class="wp-image-419898" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-871561764-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-871561764-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-871561764-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-871561764-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-871561764-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/09/GettyImages-871561764-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Victoria Kwakwa, vice president of East Asia and Pacific at World Bank Group, speaks at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Danang, Vietnam, on Wednesday, Nov. 8, 2017. Donald Trump, Xi Jinping and Vladimir Putin are among 21 leaders meeting in Vietnam this week for the APEC summit. Photographer: SeongJoon Cho/Bloomberg via Getty Images</figcaption></figure>



The World Bank says half of eastern and southern African countries are in debt distress, weighed down by the Covid-19 pandemic and the Ukraine/Russia &nbsp;war which have weakened government finances and stunted growth across the region forcing some to acquire expensive debt.



Victoria Kwakwa, the Bank’s Vice President for Eastern and Southern Africa told CNBC Africa 13 of the region’s 26 countries were technically in debt distress, meaning they were likely experiencing or were about to start being unable to meet repayments due to their creditors.



“The structure of the debt has changed and has become more expensive and that has made the countries more vulnerable to debt challenges,’’ Kwakwa said in an interview in Pretoria.&nbsp; “The composition has switched to being less concessional, being less multilateral broadly, being more private and also bilateral donors that are not all in the West. We are also trying to make sure that our own net flows are positive.”



Zambia became the first country post the pandemic to default on its debt and analysts say it could be followed by a number of other poor countries that have borrowed heavily in debt markets and from new lenders such as China. The country recently concluded a debt reform deal under the bank’s and the International Monetary Fund’s common framework under which all creditors and borrowers negotiate restructuring of the debt.



Kwakwa said the World Bank was working with regional governments to ensure acquired debt was used to generate growth and that it was affordable.&nbsp; Within the region, she cited Zambia, Malawi, Ethiopia and Mozambique as countries struggling with unsustainable debt piles.



The United Kingdom’s Guardian newspaper cites Debt Justice, which previously campaigned for debt cancellation of poor countries saying 12 percent of African government’s external debt is owed to Chinese lenders. It says half of 22 African countries with the highest debt owe more than 30 percent to private lenders, while only six owe the same levels to China. “All of us have to do more,’’ Kwakwa said in response to a question on whether the World Bank and other institutions need to provide further help to the continent.  But “… it’s also a question of what resources that are borrowed are being used for and also if there are terms that are reasonably affordable. I think those two issues need to be looked at.’’

Key Speakers and Interviews at the APEC CEO Summit

World Bank says half of Eastern and Southern African economies in debt distress

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="800" height="450" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/08/800px-The_WilPhoenix_Offshore_Oil_Rig_43258021631.jpg" alt="" class="wp-image-419348" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/08/800px-The_WilPhoenix_Offshore_Oil_Rig_43258021631.jpg 800w, https://cms.cnbcafrica.com/wp-content/uploads/2022/08/800px-The_WilPhoenix_Offshore_Oil_Rig_43258021631-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/08/800px-The_WilPhoenix_Offshore_Oil_Rig_43258021631-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2022/08/800px-The_WilPhoenix_Offshore_Oil_Rig_43258021631-768x432.jpg 768w" sizes="auto, (max-width: 800px) 100vw, 800px" /><figcaption>The WilPhoenix sits in Cromarty Firth, near Invergordon, Scotland. The 1982-built rig is equipped for drilling in water depths up to 1,200 ft.</figcaption></figure>



HARARE, Aug 19 (Reuters)&nbsp;&#8211;&nbsp;Australian-listed Invictus Energy Ltd&nbsp;IVZ.AX&nbsp;expects to start drilling its first exploration well for oil and gas in the northern part of Zimbabwe in the coming weeks, an official with the company&#8217;s Zimbabwean subsidiary said on Friday.



The first well, Mukuyu-1, situated in the Muzarabani-Mbire area, will be 3.5 kilometres (km) deep at a cost of $16 million, said Paul Chimbodza, managing director of the Australian company&#8217;s local subsidiary Geo Associates.



Mukuyu is part of the Cabora Bassa project in Zimbabwe, which is 80% owned and operated by Invictus through its interest in Geo Associates.



&#8220;All things being equal, we will start (at the) end of this month or first week of September,&#8221; Chimbodza told journalists at a media tour of the rig site.



Exploration drilling of the first well will take eight weeks, following which another 1.5 km hole will be sunk.



Invictus has been prospecting for oil and gas deposits for the past four years in the Cabora Bassa and Zambezi basins.



Chimbodza said the drilling phase is to ascertain resource availability and the quality of the deposits. He said there had been some delays to the project due to logistical issues, without giving details, but said these had not caused serious problems.



&#8220;The logistical costs of this undertaking is huge&#8230; We are seeing a bit of delay but nothing is a red flag for us,&#8221; he said.



Invictus deputy chairman Joe Mutizwa said the company remained hopeful the first well would bring positive results.



(Reporting by Nyasha Chingono; Editing by Bhargav Acharya and Jan Harvey)

800px-The_WilPhoenix_Offshore_Oil_Rig_43258021631

Invictus Energy expects to drill first Zimbabwe exploration well in coming weeks

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/08/GettyImages-1084513522-820x547.jpg" alt="" class="wp-image-418937" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/08/GettyImages-1084513522-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/08/GettyImages-1084513522-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/08/GettyImages-1084513522-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/08/GettyImages-1084513522-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/08/GettyImages-1084513522-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/08/GettyImages-1084513522-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Workers prepare pieces of metal for resale at a scrap and sheet metal stall in Harare, Zimbabwe, on Thursday, Jan. 17, 2019. Hopes of an economic revival in Zimbabwe lie in tatters 14 months after President Emmerson Mnangagwa took office, as the nation reels from foreign-exchange and fuel shortages, strikes and a dearth of political leadership. Photographer: Cynthia R Matonhodze/Bloomberg via Getty Images</figcaption></figure>



HARARE, Aug 3 (Reuters)&nbsp;&#8211;&nbsp;Shepherd Chowe pushes a cart filled with tins, iron rods and other metallic objects down a dusty pathway in Hopley, a poor settlement about 15 km west of Zimbabwe&#8217;s capital, Harare.



It is 11 a.m. and Chowe, 46, has arrived at a scrap yard where dozens of metal scavengers await to sell their wares. For two sacks, Chowe gets paid $6.



&#8220;I start moving around the township at 8 a.m. &#8230; asking people for scrap metal or anything metallic they are not using anymore,&#8221; Chowe said, adding that on a good day he takes home $40.



Chowe is among Zimbabweans selling scrap metal for survival as the cost of living soars, piling pressure on a population already facing food shortages and high unemployment, stirring memories of economic chaos years ago under veteran leader Robert Mugabe&#8217;s near four-decade rule.



Annual inflation, which hit 256.9% in July, has cast a shadow over President Emmerson Mnangagwa&#8217;s bid to revitalise the economy.



By selling scrap metal, Chowe can afford to pay rent, buy food and pay school fees for his two daughters.



&#8220;Scrap metal has given us hope,&#8221; Chowe said.



Zimbabwe&#8217;s steel industry has been struggling since the collapsed of the Zimbabwe Iron and Steel Company (Ziscosteel) more than a decade ago.



However, in recent years, small steel producers working with scrap yard dealers are picking up the pieces.



&#8220;These scavengers help the steel industry which we supply. Sometimes they (steel makers) lack money to pay us, but the metal is always available,&#8221; scrap yard owner Fungai Mataga said, as workers loaded metal into a truck headed for Kwekwe in the Midlands, the home of steel manufactures.



Mataga buys cast iron for $0.15 per kg and mild steel $0.22 per kg from scavengers.



&#8220;They all come here to sell (metal) for survival,&#8221; he said.



The scrap metal trade is not illegal in Zimbabwe, but has raised concerns about vandalism of infrastructure including that of state-owned National Railways of Zimbabwe, which has called for the trade to be regulated.



As Chowe leaves the scrap yard, 19-year-old Mike Mavhunga arrives saddled with sacks of tins.



Every day he wakes up at 5 a.m. to walk 10 km to Glen Norah, a township west of Harare, his hunting ground for metal.



&#8220;My aim is to get at least two bags of scrap metal which gives me $6. But on a rough day, I get $1 or $1.50,&#8221; Mavhunga said. &#8220;This is how I survive.&#8221;



(Editing by Olivia Kumwenda-Mtambo and Alison Williams)

Tanking Economy Snaps Zimbabwe Dream Of Post-Mugabe Revival

Impoverished Zimbabweans turn to scrap metal trade as inflation bites

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="543" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/3QAESMOI3BO5DGMDWDXXY7SURA-820x543.jpg" alt="" class="wp-image-418468" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/3QAESMOI3BO5DGMDWDXXY7SURA-820x543.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/3QAESMOI3BO5DGMDWDXXY7SURA-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/3QAESMOI3BO5DGMDWDXXY7SURA-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/3QAESMOI3BO5DGMDWDXXY7SURA-768x508.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/3QAESMOI3BO5DGMDWDXXY7SURA-1536x1016.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/3QAESMOI3BO5DGMDWDXXY7SURA-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>FILE PHOTO: Rwandan military troops depart for Mozambique to help the country combat an escalating Islamic State-linked insurgency that threatens its stability, at the Kigali International Airport in Kigali, Rwanda July 10, 2021. REUTERS/Jean Bizimana/File Photo</figcaption></figure>



MAPUTO, July 14 (Reuters)&nbsp;&#8211;&nbsp;Southern African countries agreed on Thursday to extend their troop deployment in Mozambique for another month to help it fight an Islamic State-linked insurgency.



The countries, linked in the Southern African Development Community (SADC), agreed last year to send troops to Mozambique.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N2O51B4&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The mission&#8217;s mandate was set to end on Friday but has been extended on an interim basis until an SADC heads of state summit in mid-August, when a more detailed report on the mission&#8217;s progress will be considered.



The insurgency is concentrated in Mozambique&#8217;s northern province of Cabo Delgado. It has claimed thousands of lives since it broke out in 2017 and disrupted multibillion-dollar natural gas projects.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2OD5ML&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Closing Thursday&#8217;s virtual summit, SADC chairperson and Malawi President Lazarus Chakwera said the extension of the troop deployment prevented the mission from being compromised.



Separately, the European Union&#8217;s diplomatic mission to Mozambique said the EU would provide the country&#8217;s army with an additional 45 million euros ($45 million) of financial support.



Mozambique&#8217;s military had been losing ground to the insurgency until it accepted help from SADC and Rwanda, which has also sent soldiers.



($1 = 1.0000 euro)



(Reporting by Anait Miridzhanian in Gdansk and Manuel Mucari in Maputo; Editing by Alexander Winning)

FILE PHOTO: Rwandan military troops depart for Mozambique, at the Kigali International Airport in Kigali

Southern African bloc further extends Mozambique troop deployment

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/03/KSJCTPD32VO5XPXHEGDADKUJW4-820x429.jpg" alt="" class="wp-image-416127" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/03/KSJCTPD32VO5XPXHEGDADKUJW4-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/KSJCTPD32VO5XPXHEGDADKUJW4-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/KSJCTPD32VO5XPXHEGDADKUJW4-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/KSJCTPD32VO5XPXHEGDADKUJW4-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/KSJCTPD32VO5XPXHEGDADKUJW4-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/KSJCTPD32VO5XPXHEGDADKUJW4.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Akinwumi Adesina, President of African Development Bank (AfDB)
Photo: via Reuters</figcaption></figure>



HARARE, July 12 (Reuters)&nbsp;&#8211;&nbsp;African Development Bank (AfDB) President Akinwumi Adesina said on Tuesday he was optimisitic about talks with Zimbabwe to solve its debt crisis.



Zimbabwe has accumulated billions of dollars of debt and has not received funding from global financial institutions like the International Monetary Fund (IMF) and World Bank for years.



&#8220;You cannot run up a hill with a bag of sand on your back,&#8221; Adesina said, referring to the southern African country&#8217;s external debts which he put at $13.5 billion.



&#8220;I am optimistic that working together we will be able to get there. We are committed to support Zimbabwe with $4.2 million &#8230; (for) arrears clearance,&#8221; he said at a media briefing with Zimbabwean Finance Minister Mthuli Ncube.



In March, the IMF noted that Zimbabwe had come up with a debt resolution strategy and started token payments to creditors in an attempt to re-engage. But it said stakeholders also wanted to see political and economic reforms.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N2VR1JL&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Zimbabwe&#8217;s overseas creditors include the World Bank, AfDB, European Investment Bank and other multilateral and bilateral lenders.



&#8220;We have to continue with the reforms we have started and make sure they are completed so that we can continue to stabilise the (economy),&#8221; Ncube said.



Zimbabwe recorded annual inflation&nbsp;ZWCPIY=ECI&nbsp;of around 192% in June, piling added strain on people struggling with shortages of basic items in the shops.



Soaring inflation has evoked memories of economic chaos under former leader Robert Mugabe&#8217;s near four-decade rule.



(Reporting by Nyasha Chingono; Writing by Bhargav Acharya and Anait Miridzhanian; Editing by Alexander Winning and Nick Macfie)

KSJCTPD32VO5XPXHEGDADKUJW4

AfDB president optimistic about solving Zimbabwe’s debt crisis

<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/images.jpeg" alt="" class="wp-image-418272" width="538" height="359" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/images.jpeg 450w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/images-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/images-135x90.jpeg 135w" sizes="auto, (max-width: 538px) 100vw, 538px" /><figcaption>Gold coins are displayed at the Ginza Tanaka store in Tokyo September 18, 2008. REUTERS/Yuriko Nakao</figcaption></figure>



HARARE, July 5 (Reuters)&nbsp;&#8211;&nbsp;Zimbabwe&#8217;s central bank said it would start selling gold coins this month as a store of value to tame runaway inflation, which has considerably weakened the local currency.



The central bank governor John Mangudya said in a statement on Monday that the coins will be available for sale from July 25 in local currency, U.S. dollars and other foreign currencies at a price based on the prevailing international price of gold and the cost of production.



The &#8220;Mosi-oa-tunya&#8221; coin, named after Victoria falls, can be converted into cash and be traded locally and internationally, the central bank said.



The gold coin will contain one troy ounce of gold and will be sold by Fidelity Gold Refinery, Aurex and local banks, it added.



Gold coins are used by investors internationally to hedge against inflation and wars.



Last week, Zimbabwe more than doubled its policy rate to 200% from 80% and outlined plans to make the U.S. dollar legal tender for the next five years to boost confidence.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2YE1YN&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Soaring inflation in the southern African country has been piling pressure on a population already struggling with shortages and stirring memories of economic chaos years ago under veteran leader Robert Mugabe’s near four-decade rule.



Annual inflation, which hit almost 192% in June, cast a shadow over President Emmerson Mnangagwa’s bid to revitalise the economy.



Zimbabwe abandoned its inflation-ravaged dollar in 2009, opting instead to use foreign currencies, mostly the U.S. dollar. The government reintroduced the local currency in 2019, but it has rapidly lost value again.



(Reporting by Nyasha Chingono, Editing by Anait Miridzhanian and Louise Heavens)

images

Zimbabwe to introduce gold coins as local currency tumbles

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="575" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Renewable_Energy_on_the_Grid-820x575.jpg" alt="" class="wp-image-406348" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Renewable_Energy_on_the_Grid-820x575.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Renewable_Energy_on_the_Grid-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Renewable_Energy_on_the_Grid-114x80.jpg 114w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Renewable_Energy_on_the_Grid-768x538.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/06/Renewable_Energy_on_the_Grid.jpg 886w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Photo: via Flickr</figcaption></figure>



BRUSSELS/WINDHOEK, July 4 (Reuters) &#8211; The European Union is planning a deal with Namibia to support the country&#8217;s nascent green hydrogen sector and boost its own imports of the fuel, EU and Namibian officials said, as the bloc works to reduce its dependence on Russian energy.



Hydrogen has long been touted as a less emissions-heavy alternative to fossil fuels, but while it has seen some uptake in the EU, chiefly in heavy industry and transportation, high costs and a lack of infrastructure have limited consumption, and the fuel covers just 2% of the bloc&#8217;s energy needs.



Most EU consumption is of so-called &#8220;grey&#8221; or &#8220;blue&#8221; hydrogen produced using gas, which drives up costs and related emissions. That has made easier access to green hydrogen, made using renewable energy, a priority.



The EU&#8217;s energy strategy in May set a goal of importing at least 10 tonnes of green hydrogen by 2030, with another 10 million tonnes to be produced within the bloc.



Under the plan, the EU would sign a memorandum of understanding (MoU) with Namibia on hydrogen and minerals at the U.N. Climate Change Conference in Egypt in November, one EU official said.



The director-general of the southwest African country&#8217;s National Planning Commission, Obeth Kandjoze, told Reuters work was underway for a deal on green hydrogen, but did not comment on minerals.



The European Commission declined to comment on the possible deal, but said it was working on green hydrogen projects in Namibia.



The officials did not comment on the costs associated with transporting the fuel. MoUs usually carry little detail about import volumes, investments and delivery timings, but they are important political commitments that pave the way for long-term partnerships.



The EU signed a MoU last month with Israel and Egypt on gas imports, as part of its plans to seek alternative suppliers of energy and cut dependence on Russian oil, gas and coal.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2Y20IA&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Namibia, one of the world&#8217;s driest and least densely populated countries, is trying to harness its vast potential for solar and wind energy to produce green hydrogen.



The German government has already agreed to invest 40 million euros ($41.8 million) in Namibia&#8217;s green hydrogen, and Belgian and Dutch companies are also operating in the country in that field.



The official said direct EU funding for Namibia was likely to be limited, but a deal could attract other investors and funding via green bonds.



The EU also wants easier access to minerals in Namibia, and plans geological projects to explore the resources of a country which is nearly as big as the combined territory of France and Germany, the EU official said.



Namibia is among the priority countries in the EU&#8217;s &#8220;Global Gateway strategy&#8221;, Brussels&#8217; version of the Chinese Belt and Road Initiative to boost infrastructure investment and diplomatic ties in developing countries.



Germany to transfer hydrogen technology to Africa &#8211; govt official&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2UR2DE&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Egypt, Norway sign green hydrogen production, purchasing deals &#8211; statement<a href="https://www.reutersconnect.com/all?search=all%3AS8N2VO0HS&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



(Writing by Francesco Guarascio @fraguarascio; Additional reporting by Kate Abnett; Editing by Jan Harvey)

Renewable_Energy_on_the_Grid Phot via Wikimedia Commons

EU plans hydrogen deal with Namibia as it pulls away from Russian energy

PRETORIA, May 31 (Reuters) – South Africa’s unemployment rate fell to 34.5% in the first quarter of 2022 from 35.3% in the final quarter of last year, statistics agency data showed on Tuesday.



Statistics South Africa said the number of unemployed totalled 7.862 million people in the three months to end-March, compared with 7.921 million people in the previous three months.



According to an expanded definition of unemployment that includes those discouraged from seeking work, 45.5% of the labour force was without work in the first quarter, from 46.2% in the prior quarter.



South Africa’s economy rebounded quicker than expected from the COVID-19 pandemic last year, but growth in 2022 is expected to slow to a meagre 1.7% according to the central bank’s latest forecast.



Analysts say Africa’s most industrialised nation needs higher rates of growth to make a meaningful dent in poverty and unemployment.



In the first quarter, job gains were recorded mainly in the community and social services sector, followed by manufacturing. The trade sector also had job gains.



Despite the dip in the headline unemployment rate, it remained near record highs as other key sectors like finance, construction and agriculture recorded job losses in the quarter. (Reporting by Olivia Kumwenda-Mtambo Editing by Alexander Winning and James Macharia Chege)

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South Africa’s Q1 unemployment rate falls to 34.5%

May 31 (Reuters)&nbsp;&#8211;&nbsp;South African miner Gold Fields Ltd&nbsp;GFIJ.J&nbsp;on Tuesday agreed to buy Canada-based precious metals miner Yamana Gold Inc&nbsp;YRI.TO&nbsp;in an all-share deal, valuing the Toronto-listed company at $6.7 billion.



Gold Fields said its shareholders will own about 61% of the combined group, while Yamana Gold shareholders will own around 39% after the deal completes.



The South African miner said Yamana&#8217;s board has unanimously approved the deal and also recommended its shareholders to vote in favour of the offer.



The offer consists of new shares or newly issued American Depositary Shares in Gold Fields at a fixed exchange ratio of 0.6 of a Gold Fields share for each Yamana share outstanding.



Shares of Yamana will be delisted from the stock markets, while Gold Fields will continue trading in Johannesburg, where the combined group will have their headquarters.



(Reporting by Amna Karimi and Yadarisa Shabong in Bengaluru; Editing by Uttaresh.V and Sherry Jacob-Phillips)

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S.Africa’s Gold Fields to buy Yamana Gold in $6.7 bln deal

May 17 (Reuters)&nbsp;&#8211;&nbsp;Worsening outdoor air pollution and toxic lead poisoning have kept global deaths from environmental contamination at an estimated 9 million per year since 2015 – countering modest progress made in tackling pollution elsewhere, a team of scientists reported Tuesday.



Air pollution from industry processes along with urbanization drove a 7% increase in pollution-related deaths from 2015 to 2019, according to the&nbsp;<a href="http://www.thelancet.com/journals/lan???/article/PII???????????????/fulltext" target="_blank" rel="noreferrer noopener">scientists’ analysis of data</a>&nbsp;on global mortality and pollution levels.



&#8220;We&#8217;re sitting in the stew pot and slowly burning,&#8221; said Richard Fuller, a study co-author and head of the global nonprofit Pure Earth. But unlike climate change, malaria, or HIV, &#8220;we haven&#8217;t given (environmental pollution) much focus.&#8221;



An earlier version of the work published in 2017 also estimated the death toll from pollution at roughly 9 million per year — or about one of every six deaths worldwide — and the cost to the global economy at up to $4.6 trillion per year. That puts pollution on par with smoking in terms of global deaths.&nbsp;COVID-19, by comparison, has killed about&nbsp;6.7 million&nbsp;people globally since the pandemic began.



For their most recent study, published in the online journal Lancet Planetary Health, the authors analyzed 2019 data from the Global Burden of Disease, an ongoing study by the University of Washington that assesses overall pollution exposure and calculates mortality risk.



The new analysis looks more specifically at the causes of pollution – separating traditional contaminants such as indoor smoke or sewage from more modern pollutants, like industrial air pollution and toxic chemicals. Here are some of the key takeaways:



WATER AND INDOOR AIR



Deaths from traditional pollutants are declining globally. But they remain a major problem in Africa and some other developing countries. Tainted water and soil and dirty indoor air put Chad, the Central African Republic and Niger as the three countries with the most pollution-related deaths, according to data adjusted for population.



State programs to cut indoor air pollution and improvements in sanitation have helped to curb death tolls in some places. In Ethiopia and Nigeria, these efforts brought related deaths to drop by two-thirds between 2000 and 2019. Meanwhile, the Indian government in 2016 began offering to replace wood-burning stoves with gas stove connections.



MODERN POLLUTANTS



Deaths caused by exposure to modern pollutants such as heavy metals, agrochemicals and fossil fuel emissions are &#8220;just skyrocketing&#8221;, rising 66% since 2000, said co-author Rachael Kupka, executive director of the New York-based Global Alliance on Health and Pollution.



When it comes to outdoor air pollution, some major capital cities have seen some success, including in Bangkok, China, and Mexico City, the authors said. But in smaller cities, pollution levels continue to climb.



HIGHEST POLLUTION-RELATED DEATHS



The study offered a list of the 10 countries most affected by pollution-related deaths, based on their findings on mortality adjusted for population.



1. Chad; 2. Central African Republic; 3. Niger; 4. Solomon Islands; 5. Somalia; 6. South Africa; 7. North Korea; 8. Lesotho; 9. Bulgaria; 10. Burkina Faso



(Reporting by Gloria Dickie; Editing by Katy Daigle and Lisa Shumaker)

power-station-pollution-energy-electricity

Pollution killing 9 million people a year, Africa hardest hit – study

May 17 (Reuters)&nbsp;&#8211;&nbsp;Zimbabwe has lifted its ban on bank lending, the central bank announced on Tuesday, more than a week after the government froze loans in a move it said was meant to stop speculation against a rapidly devaluing local currency.



The government said at the time it had started investigating unnamed speculators of taking out Zimbabwe dollar bank loans to purchase foreign currency on the black market, driving the local currency&#8217;s value lower.



&#8220;The Bank wishes to advise the public that the temporary suspension of lending services by banks has been lifted with immediate effect,&#8221; the central bank said in a statement.



It added that only organisations being probed for abusing loan facilities would not be allowed to borrow from banks.



Business groups had warned that the lending freeze would hurt commerce and worsen Zimbabwe&#8217;s economic crisis. Last week, South Africa&#8217;s Tongaat Hulett suspended pre-payments to sugar cane farmers, saying it relied on bank loans to fund the payments.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2X470V&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



&#8220;We said (the lending freeze) was temporary. We have lived true to our word,&#8221; government spokesperson Nick Mangwana said on Twitter.



Zimbabwe reintroduced its currency in 2019, a decade after abandoning it in favour of foreign currencies, mainly the United States dollar. Since its return, the local currency&#8217;s value has declined from around 2.5 to the U.S dollar in 2019 to 285 against the greenbank on the interbank market.



It trades much weaker, around 400 to the U.S dollar on a thriving black market.



The lending freeze did slow the Zimbabwean dollar&#8217;s slide on the black market, although it had little impact on the official rate.



Zimbabwe, which experienced 500 billion percent hyperinflation in 2008, is currently experiencing another episode of high inflation, with year-on-year inflation rising to 96.4% in April from 72.7% in March, driven by the rapid devaluation of its currency.



(Reporting by Nelson BanyaEditing by Raissa Kasolowsky)

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Zimbabwe lifts ban on bank lending it imposed to stop currency slide￼

GABORONE, May 16 (Reuters)&nbsp;&#8211;&nbsp;Botswana, Africa&#8217;s top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems to expand market share, the country&#8217;s minister told a mining conference on Monday.



The United States, the world largest market for natural diamonds, imposed sanctions on Russia&#8217;s state-controlled Alrosa&nbsp;ALRS.MM&nbsp;in April, aiming to cut off a source of revenue for Moscow after its February invasion of Ukraine.<a href="https://www.reutersconnect.com/all?search=all%3AL5N2W61HG&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Alrosa, the world&#8217;s largest producer of rough diamonds, accounted for about 30% of global output in 2021.



Botswana&#8217;s Minister of Minerals and Energy Lefoko Moagi said the ban on Russia diamonds might push prices up to the benefit of rival producers but he also said the gap would be hard to fill.



&#8220;We see the 30% gap that will be left by the ban being plugged by something else that is not natural. And for us that will be a challenge,&#8221; he said.



Jacob Thamage, head of Botswana&#8217;s Diamond Hub, said uncertainty over the Ukraine conflict makes it difficult for Botswana and other natural diamond miners to fill the supply gap as ramping up operations requires significant investment.



&#8220;You don&#8217;t want to invest a lot of money to up-scale and then the war ends the next day,&#8221; Thamage said. &#8220;We also see the higher prices pushing consumers to substitutes such as the synthetics and this can cause problems for us if we cede the market to unnatural stones.&#8221;



Sales at Debswana, a joint venture between Anglo American&nbsp;AAL.L&nbsp;unit De Beers and Botswana&#8217;s government, accounts for almost all of Botswana diamonds exports. These stood at $3.466 billion in 2021 compared with $2.120 billion in 2020.<a href="https://www.reutersconnect.com/all?search=all%3AL8N2UB4O2&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Thamage also fears that consumers might start to shun natural diamonds due to traceability issues.



&#8220;There is an increased fear that buyers of diamonds will begin to treat all natural diamonds as conflict diamonds and therefore shift to unnatural diamonds,&#8221; he said.



(Reporting by Brian Benza, Editing by Nelson Banya and Jane Merriman)

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Botswana sees Russian diamond ban opening door to synthetic gems

<ul class="wp-block-list"><li>China stocks slip 0.3%-0.8% on weak data</li></ul>



<ul class="wp-block-list"><li>Rand down 0.4% amid growth concerns, power cuts, gold price decline</li></ul>



<ul class="wp-block-list"><li>Turkish March current account deficit $5.554 billion; lira slips 0.5%</li></ul>



By Anisha Sircar and Bansari Mayur Kamdar



May 16 (Reuters)&nbsp;&#8211;&nbsp;Emerging market stocks and currencies hovered just above their lowest level in almost two years on Monday as dire Chinese economic data renewed concerns around global growth, while the South African rand came under pressure from domestic power cuts.



The MSCI index for emerging market (EM) equities&nbsp;.MSCIEF&nbsp;inched 0.2% higher, still down 6.5% on the month and nearly 20% on the year, while currencies&nbsp;.MIEM00000CUS&nbsp;were little changed against a strong greenback after a sixth straight weekly decline last week.



The dollar index&nbsp;=USD&nbsp;was perched at a two-decade peak as investors ramped up U.S. monetary policy tightening expectations.&nbsp;FRX/



&#8220;The main factor weighing on risky emerging assets is the prospect of further rate hikes by the Fed, accompanied by growing concerns that the global economy could be heading for recession,&#8221; said Piotr Matys, senior FX analyst at In Touch Capital Markets.



Concerns around monetary tightening amid slowing global growth, rising inflation and a cooling commodity price rally have hampered the attractiveness of emerging markets.



China stocks&nbsp;.SSEC,&nbsp;.CSI300&nbsp;fell between 0.3% and 0.8% as data showed the country&#8217;s April retail sales shrank 11.1% on the year, almost twice the drop forecast, while industrial output fell 2.9%.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N2X8047&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



South Africa&#8217;s rand&nbsp;ZAR=&nbsp;fell 0.4% as domestic power cuts, weaker gold prices and a blurry growth outlook weighed on the currency.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2X818V&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Investor focus was on a monetary policy decision expected on Thursday where the central bank is likely to make its first 50 basis point repo rate hike in more than six years.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2X398J&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The Czech crown&nbsp;EURCZK=&nbsp;inched 0.3% higher after hitting two-month lows last week. Data showed industrial producer prices rose 26.6% year-on-year in April, greater than market expectations.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AP7N2QN02E&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The Czech National Bank launched a &#8220;true monetary-policy intervention&#8221; when it entered the market on May 12 to stop a weakening of the crown, board member Tomas Holub said Friday.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N2X50HP&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The Sri Lankan rupee&nbsp;LKR=&nbsp;fell&nbsp;1.2%&nbsp;ahead of an address by the crisis-hit country&#8217;s new prime minister, Ranil Wickremesinghe.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL3N2X812C&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Turkey&#8217;s lira&nbsp;TRY=&nbsp;fell 0.5% as the central bank said the country&#8217;s current account deficit in March widened to $5.554 billion, more than the forecasted $5.371 billion, but is up about 18% from its record low hit in December.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AAPN0KPIRT&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



&#8220;The government notion that Turkey will be able to bring inflation lower in coming quarters if the current account deficit narrows is being put to a major test,&#8221; Matys said.



For GRAPHIC on emerging market FX performance in 2022, see&nbsp;<a href="http://tmsnrt.rs/2egbfVh" target="_blank" rel="noreferrer noopener">http://tmsnrt.rs/2egbfVh</a>



For GRAPHIC on MSCI emerging index performance in 2022, see&nbsp;<a href="https://tmsnrt.rs/2OusNdX" target="_blank" rel="noreferrer noopener">https://tmsnrt.rs/2OusNdX</a>



For TOP NEWS across emerging markets&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3ATOPEMRG&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



For CENTRAL EUROPE market report, see&nbsp;CEE/



For TURKISH market report, see&nbsp;.IS



For RUSSIAN market report, see&nbsp;RU/RUB



(Reporting by Anisha Sircar and Bansari Mayur Kamdar in Bengaluru; Editing by Kirsten Donovan)

Stock market exchange graph price drop with red numbers investment lose of business financial digital background – Candle stick charts stock crash crisis fall risk decreasing arrow down trend sell

EMERGING MARKETS-Battered stocks inch up; S. African rand falls on power cuts, growth fears

WINDHOEK, May 12 (Reuters)&nbsp;&#8211;&nbsp;Namibia on Thursday launched a sovereign wealth fund, months after oil discoveries by TotalEnergies&nbsp;TTEF.PA&nbsp;and Shell&nbsp;SHEL.L&nbsp;off its coast.



President Hage Geingob said at the launch the Welwitschia Fund would get an initial injection of 262 million Namibian dollars ($16.15 million) and invest 2.5% of its portfolio locally to bridge the country&#8217;s infrastructure financing gap.



The fund will collect some of the royalties from all mineral resources sold as well as some tax revenues and money raised by the government divesting from its investment holdings.



&#8220;We are looking forward to the prospects and opportunities that will emanate from the recent discoveries of oil and the green hydrogen energy, which have the potential to further boost the fund&#8217;s capital,&#8221; Geingob said.



Other resource-rich African countries that have sovereign funds include Angola, Botswana, Libya and Nigeria.



TotalEnergies said in February its Venus prospect offshore Namibia had found a good quality reservoir, which one source told Reuters was more than 1 billion barrels of oil equivalent. That find was the second major discovery in a month after Shell also announced a significant find.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2UZ0ND&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Known for its gem-quality diamonds, gold and uranium, Namibia has considered creating a sovereign fund since 2009.



It is aiming to become a green hydrogen player by 2026 and has selected a preferred bidder for a multi-billion dollar project.



($1 = 16.2180 Namibian dollars)



(Reporting by Nyasha Nyaungwa, Editing by Alexander Winning and Angus MacSwan)

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Namibia launches sovereign wealth fund following oil discoveries

<ul class="wp-block-list"><li>Largest private bank to begin stake sale next week</li></ul>



<ul class="wp-block-list"><li>Government pushing broad privatisation strategy</li></ul>



By Miguel Gomes



LUANDA, May 10 (Reuters)&nbsp;&#8211;&nbsp;Next month&#8217;s debut initial public offering (IPO) on Angola&#8217;s BODIVA stock exchange is expected to unlock a wave of new listings, its chief executive said, as the Southern African oil producer forges ahead with a far-reaching privatisation drive.



BODIVA will begin accepting bids next week for 1.945 million shares &#8211; a 10% stake &#8211; being offered by BAI, Angola&#8217;s largest private bank. BAI&#8217;s listing is expected on June 9.



Under President Joao Lourenco, the OPEC member has embarked on an ambitious reform programme to modernise the economy and attract private investment.



The state plans to sell its stakes in firms including upstream oil company ACREP, Caixa de Angola bank, fuel retailer Sonangalp and television and telecommunications provider TVCabo Angola.



&#8220;All these companies revealed, publicly or privately, their ambition to list capital with BODIVA,&#8221; the exchange&#8217;s CEO Walter Pacheco told Reuters. &#8220;I think that the first IPO will be decisive to promote the market.&#8221;



BODIVA was founded in 2014. But with Angola&#8217;s economy largely dominated by state-owned companies &#8211; a legacy of its socialist past &#8211; the exchange has mainly served as a market for government bonds, trading debt of around $2 billion in 2020.



&#8220;The market did not advance earlier because it was necessary for the state to reduce its direct intervention in companies and in the economy,&#8221; Pacheco said.



The 10% of capital offered by BAI represents stakes currently held by state-owned oil and diamond companies Sonangol and Endiama.



Foreign investors will be allowed to purchase shares sold at between 17,200 and 20,640 kwanzas ($42.92 and $51.50) each, a prospectus published on the bank&#8217;s website showed.



The stake sale should raise 33 billion to 35 billion kwanzas ($82-87 million), Pacheco said.



Angola plans to privatise some 62 state assets this year, though the sale of a 30% stake in state oil company Sonangol, seen as the crown jewel of the privatisation push, could take another two years.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2U43AC&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



&#8220;We know that the restructuring of Sonangol, because of its dimension and relevance for the country, is going to take some time,&#8221; Pacheco said.



BODIVA was prepared to work with Sonangol on privatisation, he said, but the extent of the exchange&#8217;s involvement was not yet clear.



&#8220;We don&#8217;t know if the country and our capital market are ready to negotiate this kind of asset. Maybe Sonangol will spread their capital in different jurisdictions, not only in Angola,&#8221; Pacheco said.



($1 = 400.7700 kwanzas)



(Writing by Joe BavierEditing by Mark Potter)

Trading Board Is Showing A Crash In Stok Exchange Market

Angola’s first IPO to spur wave of listings – stock exchange CEO￼

May 9 (Reuters)&nbsp;&#8211;&nbsp;The International Monetary Fund&#8217;s executive board on Monday approved a three-year, $456 million extended credit facility arrangement for Mozambique, with about $91 million available for immediate disbursement, the Fund said.



The facility is the southeast African nation&#8217;s first program since the global lender suspended support six years ago.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2VV4W0&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The IMF said the three-year arrangement will help support economic recovery and policies to reduce public debt and financing vulnerabilities, while creating space for public investments in human capital, climate adaptation and infrastructure.



The Fund said the program will support a reform agenda centered on establishing a sovereign wealth fund to manage the country&#8217;s liquefied natural gas wealth, mobilizing tax revenue and strengthening public finances.



&#8220;Mozambique has managed the COVID pandemic relatively well, maintaining macroeconomic stability and reform momentum even as the country has weathered a series of shocks, culminating with the effects of the war in Ukraine,&#8221; IMF&nbsp;Deputy&nbsp;Managing&nbsp;Director Bo Li said in a statement. &#8220;With policy space now limited, sustaining the economic recovery underway and tackling debt vulnerabilities are priorities.&#8221;



(Reporting by Rami Ayyub and David Lawder; Editing by Sandra Maler and Christopher Cushing)

Southern Africa

World Bank promises support for South Africa’s Just Energy Transition plan

World Bank says half of Eastern and Southern African economies in debt distress

Invictus Energy expects to drill first Zimbabwe exploration well in coming weeks

Impoverished Zimbabweans turn to scrap metal trade as inflation bites

Southern African bloc further extends Mozambique troop deployment

AfDB president optimistic about solving Zimbabwe’s debt crisis

Zimbabwe to introduce gold coins as local currency tumbles

EU plans hydrogen deal with Namibia as it pulls away from Russian energy

South Africa’s Q1 unemployment rate falls to 34.5%

S.Africa’s Gold Fields to buy Yamana Gold in $6.7 bln deal

Pollution killing 9 million people a year, Africa hardest hit – study

Zimbabwe lifts ban on bank lending it imposed to stop currency slide

Botswana sees Russian diamond ban opening door to synthetic gems

EMERGING MARKETS-Battered stocks inch up; S. African rand falls on power cuts, growth fears

Namibia launches sovereign wealth fund following oil discoveries

Angola’s first IPO to spur wave of listings – stock exchange CEO

IMF board approves $456 mln program for Mozambique

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Advertise With Us

Southern Africa

World Bank promises support for South Africa’s Just Energy Transition plan

World Bank says half of Eastern and Southern African economies in debt distress

Invictus Energy expects to drill first Zimbabwe exploration well in coming weeks

Impoverished Zimbabweans turn to scrap metal trade as inflation bites

Southern African bloc further extends Mozambique troop deployment

AfDB president optimistic about solving Zimbabwe’s debt crisis

Zimbabwe to introduce gold coins as local currency tumbles

EU plans hydrogen deal with Namibia as it pulls away from Russian energy

South Africa’s Q1 unemployment rate falls to 34.5%

S.Africa’s Gold Fields to buy Yamana Gold in $6.7 bln deal

Pollution killing 9 million people a year, Africa hardest hit – study

Zimbabwe lifts ban on bank lending it imposed to stop currency slide￼

Botswana sees Russian diamond ban opening door to synthetic gems

EMERGING MARKETS-Battered stocks inch up; S. African rand falls on power cuts, growth fears

Namibia launches sovereign wealth fund following oil discoveries

Angola’s first IPO to spur wave of listings – stock exchange CEO￼

IMF board approves $456 mln program for Mozambique

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Zimbabwe lifts ban on bank lending it imposed to stop currency slide

Angola’s first IPO to spur wave of listings – stock exchange CEO