<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090637-1737563597358-1U8A1421-820x461.jpg" alt="" class="wp-image-578258" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090637-1737563597358-1U8A1421-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090637-1737563597358-1U8A1421-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090637-1737563597358-1U8A1421-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090637-1737563597358-1U8A1421-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090637-1737563597358-1U8A1421-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090637-1737563597358-1U8A1421.jpg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Rachel Reeves, UK Finance Minister, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025. Gerry Miller | CNBC</figcaption></figure>



The U.K. will soften some planned changes to its controversial non-dom tax rule following concerns of a millionaire exodus, the Treasury has confirmed.



Britain’s 200-year-old non-dom regime permits people living in the U.K., but who are domiciled elsewhere for tax purposes, to avoid paying levies on income and capital gains earnings overseas for up to 15 years. The regime has long courted controversy, leading U.K. Finance Minister Rachel Reeves in her October budget to confirm that it would be abolished from April 2025, and that all long-term residents would be subject to inheritance tax on their worldwide assets, including those held in trust.



Speaking at a fringe event at the World Economic Forum in Davos, Reeves said the government would soon put forward an amendment to the country’s Finance Bill, increasing the generosity of a rule which allows non-doms to bring money to the UK without paying significant taxes.&nbsp;



“We have been listening to the concerns that have been raised by the non-dom community,” Reeves told The Wall Street Journal’s Emma Tucker when asked about recent departures of the ultra-wealthy.



“In the finance bill, we will be tabling an amendment which makes more generous the temporary repatriation facility, which enables non-doms to bring money into the UK without paying significant taxes,” she added.



Reeves on Thursday also sought to reassure wealthy overseas investors that the changes would not affect double-taxation agreements held between the U.K. and other countries.



“There’s been some concerns from countries that have double taxation conventions with the U.K., including India, that they would be drawn in to be paying inheritance tax. That’s not the case. We’re not going to be changing those double taxation conventions,” she said.



In a statement to CNBC confirming the plans, a Treasury spokesperson said the tweaks were designed to motivate non-doms “to bring their funds to the U.K., encouraging them to spend and invest this money here.”



“While we do not expect these changes to impact the £33.8 billion of tax revenue that the OBR forecast to raise over five years, they reflect our continued engagement with stakeholders to make sure the reforms announced at Budget operate as intended,” the statement added.



The government’s October clampdown on non-doms formed part of wider measures aimed at the upper echelons, with new levies placed on private equity bosses, private schools, second homes and private jets.



Critics warned at the time that the moves would spark a mass exit of ultra wealthy individuals — many of whom, they said, would be key contributors to the government’s pro-investment agenda.



An estimated 10,800 millionaires left the U.K. last year, according to updated figures from global analytics firm New World Wealth and investment migration advisers Henley &amp; Partners, a 157% increase on 2023.



<a href="https://www.cnbc.com/live-tv/"></a>

108090637-1737563597358-1U8A1421

UK to soften tax rules for wealthy foreigners after millionaire exodus, Rachel Reeves says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="3635" height="2633" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/VBIWQECG2BIYTB5AT2YWGLXVKE.avif" alt="" class="wp-image-578255"/><figcaption class="wp-element-caption">One of the rail-mounted stacker reclaimers that scoop up and transfer coal into and out of the yard is seen at Africa&#8217;s largest coal export facility, the Richards Bay Coal Terminal, Richards Bay harbour, South Africa, June 21, 2018. REUTERS/Tanisha Heiberg/File Photo</figcaption></figure>



Jan 24 (Reuters)&nbsp;&#8211;&nbsp;Coal exports from South Africa&#8217;s Richards Bay Coal Terminal (RBCT) rose 10% to 52.08 million metric tons in 2024, the highest in three years, amid signs of improving freight rail performance.



South Africa&#8217;s coal shipments have declined from 76 million tons in 2017, mainly due to state-owned freight rail and port operator Transnet&#8217;s lack of capacity to haul commodities to export markets.



Coal exports through RBCT, South Africa&#8217;s main coal export terminal, fell to 47.21 million tons in 2023, the lowest since 1992.



Transnet&#8217;s struggles are blamed on a lack of locomotives and spares, as well as cable theft and vandalism of its infrastructure. This has forced some minerals exporters to resort to trucking to port, with some commodity cargo now going through Mozambique.



However, some major coal exporters, including Thungela Resources and Exxaro Resources, said they noted improved freight rail performance during the second half of 2024.



RBCT said in a performance update on Friday that 6,342 trains were offloaded at the terminal in 2024, up from 5,820 the year before. The average number of trains also edged up to 17 per day in 2024, from 16 the previous year.



In 2024, Asia&#8217;s share of South Africa&#8217;s coal exports increased to 43.99 million tons, or 84.5% of the total, up from 37.1 million the previous year. India accounted for 25.75 million tons of the exports, while Pakistan imported 2.37 million tons.



Shipments to Europe, which surged to 14.3 million tons in 2022 after the European Union banned coal from Russia following the invasion of Ukraine, further declined to 3.54 million tons last year, after falling to 6.8 million tons in 2023.



(Reporting by Nelson Banya; Editing by Mark Potter)

VBIWQECG2BIYTB5AT2YWGLXVKE

S.Africa’s Richards Bay exports up 10% in 2024 amid rail improvement

<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/GettyImages-1931982369-820x547.jpg" alt="" class="wp-image-578192" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1931982369-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Wale Edun, Nigeria&#8217;s finance minister, during a Bloomberg Television interview on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 17, 2024. The annual Davos gathering of political leaders, top executives and celebrities runs from January 15 to 19. Photographer: Stefan Wermuth/Bloomberg via Getty Images</figcaption></figure>



DAVOS, Switzerland, (Reuters) &#8211; Nigeria needs to double economic growth within the next year or two from an annualized rate of 3.5% in the third quarter to lift its population out of poverty, its finance minister told Reuters on Thursday at the World Economic Forum&#8217;s annual meeting.



Finance Minister and Coordinating Minister for the Economy Wale Edun said Nigeria was on the path to growth after a year of tough economic reforms that sent inflation soaring, but should open the door for more investment.



Edun said he had been meeting in Davos this week with business leaders in the areas of consumer goods, food and beverages, financial services and infrastructure to promote investments, he said in a Thursday interview.



&#8220;It&#8217;s a steady trickle now. What we want is a stream and at the end of the day a flood of investment,&#8221; he said.



Nigeria has been trying to encourage private investment rather than rely on borrowing to create jobs, as the government searches for a solution to sluggish growth, double-digit inflation and a heavy debt burden.



President Bola Tinubu has vowed to expand the economy by at least 6% a year, create jobs and unify the exchange rate, while also tackling rampant insecurity.



Tinubu scrapped a popular but costly petrol subsidy and lifted foreign exchange trading restrictions. That contributed to consumer inflation, but Edun expressed confidence that Nigerians would soon be past their cost of living crisis.



Central Bank Governor Olayemi Cardoso on Thursday said he expected the economy to expand by 4.17% this year, driven by ongoing reforms and stabilising inflation.



(Writing by Chijioke Ohuocha; Editing by Mark Potter)

Day Two Of The World Economic Forum (WEF) 2024

Nigeria needs to double economic growth within a year or two, finance minister says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="573" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-820x573.jpg" alt="" class="wp-image-578172" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-820x573.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-129x90.jpg 129w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-768x537.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-1536x1074.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/JMH4QG7UXFNEBLQ2OHFWN3ZYEQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Solar panels are seen near the cooling towers of a retired coal-fired Komati Power Station, operated by Eskom, near Komati village, in the Mpumalanga province in South Africa, May 9, 2024. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Jan 24 (Thomson Reuters Foundation)&nbsp;&#8211;&nbsp;Inconsistent government and corporate climate strategies may see poorer regions left behind in the transition away from polluting industries to green jobs, according to new research.



Wealthier cities like Durban, Cape Town and Johannesburg, have more advanced plans to cut emissions and adapt to climate impacts than less affluent regions, said the analysis of more than 50 government and corporate entities by South African non-profit SouthSouthNorth (SSN).



&#8220;If poorer provinces are left behind, the socio-economic divide will widen, disproportionately affecting vulnerable groups such as miners, informal workers and women,&#8221; said Samson Mbewe, an SSN project lead.



The northeastern province of Mpumalanga, for example, is the heartland of South Africa&#8217;s coal production. The closure of coal plants there could lead to sharp rises in unemployment if new green jobs do not fill the void, Mbewe said.



The country&#8217;s new Climate Change Act requires all levels of government to align their policies and actions with its goals of a low-carbon economy through, for example, setting and mandating greenhouse gas emission targets for companies.



But the analysis of these entities showed significantly different levels of preparation, a discrepancy that could lead to the regions with already high levels of unemployment being left behind when it comes to new jobs in the clean energy economy, the report warns.



South Africa is Africa&#8217;s most industrialised nation, with more than 80% of its power drawn from its coal reserves, according to the Department of Mineral Resources and Energy. It is also one of the top 15 greenhouse gas emitters worldwide, ahead of France and Britain.



In 2021, South Africa became the first country to accept the Just Energy Transition Partnership (JETP) deal in which richer nations pledged $8.5 billion to accelerate the country&#8217;s shift away from coal to renewables, while protecting local employment.



The term &#8220;just transition&#8221; refers to ensuring job creation in clean energy sectors as countries phase out polluting industries and move towards renewable energy, according to the presidential climate commission.



South Africa&#8217;s vast areas of sun-soaked land make it ideal for renewable energy projects that promise new jobs in a country suffering from 32% unemployment.



But communities are nervous that this type of work may be scarce and struggle to replace coal sector employment of some 90,000 people.



<h2 class="wp-block-heading" id="h-climate-change-act">CLIMATE CHANGE ACT</h2>



South Africa&#8217;s Climate Change Act was signed into law in July last year, but the SSN analysis found multinational firms and different layers of government had all made varied levels of progress.



&#8220;Our analysis of the climate plans of the key engines of South Africa&#8217;s economy reveals a patchwork of different approaches to achieving a fair, people-focused transition,&#8221; said Camilla Hyslop, data lead at Net Zero Tracker, a report partner.



Some companies&#8217; climate strategies make broad, sweeping pledges linked to achieving net zero emissions by 2050, but lack any wording around local employment and decent wages that need to be protected in the process, the analysis found.



&#8220;Some companies entirely overlook the need for a transition &#8211; just or otherwise,&#8221; Hyslop said.



The SSN analysis also found that the major cities were surpassing provincial climate policy strategies, which should learn from successful city actions.



For example, Durban&#8217;s plan goes into detail about reforestation projects that it says will help capture carbon.



But Kwazulu-Natal province, where Durban is found, speaks little about new, clean jobs that could replace those lost in polluting sectors such as petrochemical industries.



Less affluent, coal-dependent regions found in Mpumalanga have no formal net zero targets with no long-term structured plan on how the transition away from coal will take place.



<h2 class="wp-block-heading" id="h-patchwork-plans">PATCHWORK PLANS</h2>



The analysis recommendations include creating committees between different levels of government to better align climate plans, increased funding and technical support for poorer regions and incentivising companies to adopt robust transition plans.



Coordination between different government tiers would tackle a &#8220;missed opportunity&#8221; for provinces to draw inspiration from cities&#8217; climate plans said Ian Steuart, a senior economist at the Trade and Industrial Policy Strategies (TIPS).



But placing communities at the heart of these plans through bringing the policies to them in local forums is key, said Chantal Naidoo, executive director of Rabia Transitions, a South African transitions finance research and advisory non-profit.



&#8220;We work through civil society groups &#8230; saying to them, you need to help government understand what justice looks like at your level,&#8221; said Naidoo, who also worked on the JETP presidential investment plan.



(Reporting by Kim Harrisberg @KimHarrisberg; Editing by Jack Graham and Jon Hemming. The Thomson Reuters Foundation is the charitable arm of Thomson Reuters.)

FILE PHOTO: South Africa’s ANC walks political tight rope over coal plant shutdowns

South Africa’s patchwork climate plans risk widening inequality

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-820x547.jpg" alt="" class="wp-image-577956" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/54279620516_c7afabe6a8_o-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Duma Gideon Boko, President of Botswana; Godfrey Mutizwa, Chief Editor, CNBC Africa, South Africa; Leila Fourie, Group Chief Executive Officer, Johannesburg Stock Exchange, South Africa; Samaila Zubairu, President and Chief Executive Officer, Africa Finance Corporation &#8211; AFC, Lagos; Wamkele Keabetswe Mene, Secretary-General, African Continental Free Trade Area Secretariat, Accra; speaking in Africa’s Economy: Young and Fast session at the World Economic Forum Annual Meeting 2025 in Davos-Klosters, Switzerland, 21/1/2025, 17:30 – 18:15 at Congress Centre &#8211; Aspen 2. Stakeholder Dialogue. Copyright: World Economic Forum / Chris Heeney</figcaption></figure>



DAVOS, Switzerland, Jan 23 (Reuters)&nbsp;&#8211;&nbsp;Top diamond producer Botswana&#8217;s new President Duma Boko said on Thursday that he hoped to clinch a long-delayed sales pact with industry giant De Beers as early as Friday but underlined the need to diversify the Southern African nation&#8217;s economy.



Boko, a 55-year-old lawyer, took the reins of Botswana &#8211; one of Africa&#8217;s richest countries &#8211; in November following a landslide election upset that ended nearly six decades of rule by the Botswana Democratic Party (BDP).



He has made the task of finalising the deal with Anglo American&#8217;s De Beers unit an early priority.



Speaking at a Reuters NEXT Newsmaker at the World Economic Forum&#8217;s annual meeting in Davos, Switzerland, Boko said his government was in agreement with De Beers on most issues. All that remained was &#8220;tidying up&#8221;, he added.



Asked by Reuters Editor-in-Chief Alessandra Galloni when the deal would be signed, Boko said: &#8220;I&#8217;m hoping it is tomorrow. I mean it literally.&#8221;



Botswana and De Beers agreed a new pact in 2023, which would see the government&#8217;s share of diamonds from the Debswana joint venture gradually increase to 50% over the next decade. But it was never signed under Boko&#8217;s predecessor Mokgweetsi Masisi.



Debswana currently sells 75% of its output to De Beers.



In addition, Boko said talks aimed at increasing Botswana&#8217;s ownership stake in De Beers &#8211; currently at 15% &#8211; were &#8220;going well&#8221;.



Anglo American is looking to divest De Beers as part of a broader restructuring of its sprawling business.



<h2 class="wp-block-heading" id="h-challenges-and-opportunities">CHALLENGES AND OPPORTUNITIES</h2>



Like many African countries, Botswana&#8217;s economy is largely dependent on the export of a single commodity &#8211; in its case, diamonds, of which it is the world&#8217;s leading producer by value.



Unlike many of its continental neighbours, its leaders have invested their commodity windfall in health, education and social welfare.



The strategy has largely paid off. Botswana&#8217;s GDP per capita was $7,250 in 2023 &#8211; compared with an average for sub-Saharan Africa of $4,800, World Bank data shows.



Analysts, however, blamed mounting economic grievances, particularly among young people, for the downfall of the BDP, which had governed the nation of around 2.5 million people since independence from Britain in 1966.



&#8220;The so-called liberation parties did the best they could,&#8221; Boko said. &#8220;It seems to me that many of them have now outlived their welcome and their usefulness.&#8221;



On the campaign trail, Boko&#8217;s coalition pledged to more than double the minimum wage, improve social services and create a more independent judiciary, among other measures.



But the new president faces headwinds.



The economy likely contracted last year on a downturn in the global diamond market and unemployment has been on the rise.



The finance ministry is now forecasting a diamond rebound and GDP growth of 3% to 4% this year. However, Boko told the Reuters event that Botswana could not rely solely on diamonds.



&#8220;We are looking to power the economy of Botswana. We&#8217;re looking to diversify it,&#8221; he said, adding that his government would focus on the green economy, climate-smart agriculture, renewable energy and diversifying the mining sector.



While many world leaders are viewing the return to power of U.S. President Donald Trump with concern, Boko said the new Washington administration&#8217;s vow to bring its foreign policy in line with American self-interest was not necessarily a threat.



&#8220;(The) West has every reason to play its part in Africa, because if it doesn&#8217;t, there are others who will want to play some part. We have China in the wings, and it&#8217;s seeking&#8230; to exert influence on Africa,&#8221; he said.



(Additional reporting by Bhargav Acharya and Sfundo Parakozov in Johannesburg; Writing by Tannur Anders and Joe Bavier Editing by Alexander Winning, William Maclean)

World Economic Forum Annual Meeting 2025 in Davos-Klosters

Botswana president aims to clinch De Beers deal, diversify economy

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091198-1737637105852-108090536-1737559226059-Untitled-2-820x461.jpg" alt="" class="wp-image-577907" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091198-1737637105852-108090536-1737559226059-Untitled-2-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091198-1737637105852-108090536-1737559226059-Untitled-2-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091198-1737637105852-108090536-1737559226059-Untitled-2-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091198-1737637105852-108090536-1737559226059-Untitled-2-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091198-1737637105852-108090536-1737559226059-Untitled-2-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091198-1737637105852-108090536-1737559226059-Untitled-2.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">L-R: Satya Nadella, CEO of Microsoft, Marc Benioff, Chairman and CEO of Salesforce, and Elon Musk, CEO of Tesla and SpaceX. Reuters</figcaption></figure>



Some of the biggest names in technology have clashed after President Donald Trump unveiled his $500 billion private AI investment project.



Earlier this week, Trump announced a joint venture with OpenAI, Oracle and Softbank to invest billions of dollars in ramping up domestic computing capacity to boost AI development in the United States.



The project, dubbed Stargate, was unveiled at the White House by Trump, Softbank CEO Masayoshi Son, OpenAI CEO Sam Altman and Oracle co-founder Larry Ellison. Son will be the chairman of Stargate, while semiconductor company Arm, Microsoft, Nvidia, Oracle, and OpenAI will serve as key initial technology partners.



The executives committed to invest an initial $100 billion and up to $500 billion over the next four years.



The first blow was thrown by Elon Musk — a close ally to Trump and himself a key figure in AI with his startup xAI — who claimed in a post on his X social media platform that the companies involved in the project “don’t actually have the money” to fund the investment.



“SoftBank has well under $10B secured. I have that on good authority,” Musk added in a subsequent post. Altman, replying to Musk’s allegation, said. “Wrong, as you surely know.”



“Want to come visit the first site already under way?” Altman added. “This is great for the country. i realize what is great for the country isn’t always what’s optimal for your companies, but in your new role i hope you’ll mostly put [the U.S.] first.”



Musk chairs the Department of Government Efficiency, or DOGE, a major White House government efficiency effort. He was Trump’s biggest financial backer by far in the 2024&nbsp;election.



<h2 class="wp-block-heading" id="h-possible-microsoft-openai-rift-emerging"><a></a>Possible Microsoft-OpenAI rift emerging</h2>



On Wednesday, Salesforce CEO Marc Benioff suggested the investment plan could create tensions between OpenAI and Microsoft, who are close partners.



OpenAI said Tuesday that it had ended an arrangement with Microsoft to serve as its exclusive cloud provider. The change in relationship was disclosed as part of the Stargate Project announcement.



“I think it’s extremely important that OpenAI gets to other platforms quickly because Microsoft is building their own AI,” Benioff told CNBC. “I don’t think that Microsoft will use OpenAI in the future, they’ll have their own frontier models.”



“They’ve said it very clearly that it’s too expensive and too hard for them, and that they want to have their own,” the Salesforce chief added. “That’s why they hired Mustafa Suleyman [as Microsoft AI CEO] — and Mustafa Suleyman and Sam Altman are not best friends.”



Microsoft last year appointed Suleyman, a co-founder of Google’s AI lab DeepMind, to lead its new AI division.



Microsoft is the single largest investor in OpenAI, having plowed billions of dollars of investment into the firm. It also offers OpenAI models on its Azure cloud platform as part of a commercial arrangement between the two firms.



<h2 class="wp-block-heading" id="h-i-m-good-for-my-80-billion"><a></a>‘I’m good for my $80 billion’</h2>



Microsoft CEO Satya Nadella addressed concerns surrounding the tech giant’s relationship with OpenAI Wednesday, saying that the two continue to share a “critical partnership.”



“Sam [Altman] wants to continue with scaling laws to build out more compute in order for him to train more models,” Nadella told CNBC. “We have right of first refusal. He comes to us first. If we meet those needs, then we clear it. If not, he can go to these other providers.”



When asked about Musk’s claim that OpenAI and other companies involved in Stargate don’t have the funds to make up the total $100 billion initial commitment, Nadella said: “Look, all I know is, I’m good for my $80 billion.”



Microsoft announced at the start of 2025 that it plans to spend $80 billion this year on the construction of data centers to boost its AI efforts.



“I am going to spend $80 billion building out Azure,” Nadella told CNBC. “Customers can count on Microsoft.”



&#8211; CNBC’s Eamon Javers and Kevin Breuninger contributed to this report

108091198-1737637105852-108090536-1737559226059-Untitled-2

From Musk to Nadella: Trump’s $500 billion AI project stirs drama among the biggest names in tech

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091148-1737632698027-gettyimages-2194666352-AFP_36VC8GV-820x461.jpeg" alt="" class="wp-image-577846" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091148-1737632698027-gettyimages-2194666352-AFP_36VC8GV-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091148-1737632698027-gettyimages-2194666352-AFP_36VC8GV-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091148-1737632698027-gettyimages-2194666352-AFP_36VC8GV-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091148-1737632698027-gettyimages-2194666352-AFP_36VC8GV-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091148-1737632698027-gettyimages-2194666352-AFP_36VC8GV-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108091148-1737632698027-gettyimages-2194666352-AFP_36VC8GV.jpeg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">This photograph taken in Davos on January 22, 2025 shows the logo of the World Economic Forum (WEF) annual meeting. Fabrice Coffrini | Afp | Getty Images</figcaption></figure>



European business leaders have broadly sought to downplay concerns about the prospect of a transatlantic trade war at this week’s World Economic Forum in Davos.



U.S. President Donald Trump has repeatedly pledged to impose tariffs on goods imported from the European Union, prompting the bloc to warn that it stands ready to respond to additional duties “in a proportionate way.”



Speaking to reporters earlier in the week, the newly inaugurated U.S. president said the EU has been “very, very bad to us. So, they’re going to be in for tariffs. It’s the only way … you’re going to get fairness.”



His comments came as the Trump administration also considers imposing an additional 10% tariff on goods imported from China, potentially starting as early as next month.



For business leaders attending the annual WEF meeting in Switzerland, the reaction to Trump’s tariffs threats has been decidedly mixed.



JPMorgan Chase CEO Jamie Dimon on Wednesday said that the duties Trump is expected to slap on U.S. trading partners can be viewed positively, touting that people should “get over it.”



UBS CEO Sergio Ermotti, meanwhile, warned that interest rates were not likely to fall as fast, if U.S. tariffs stoke inflation.



Siemens CEO Roland Busch described the German industrial giant as “tariff-proof,” amid fears of a U.S.-EU trade war.



Asked about concerns over how the tariffs could impact his business, Busch said Siemens was a “global company” that already has a relatively large presence in the U.S.



“We are very much [serving] local to local, same for other regions, for China [and] for Europe,” Busch said.



Siemens chief executive cited the firm’s roughly $10 billion acquisition of U.S. engineering software firm Altair, saying the company has recently been expanding its U.S. footprint.



“On the other side, tariffs normally they increase inflation by definition, so it doesn’t really help. So, I think the idea would be what can we do, what kind of deals to make in order to really reduce the trade tariffs to the minimal level,” Busch told CNBC.



“Free trade and low tariffs, I think, is really a driver for growth,” he added.



<h2 class="wp-block-heading" id="h-tariffs-are-not-helping-global-trade"><a></a>‘Tariffs are not helping global trade’</h2>



The chief executive of Danish wind turbine manufacturer Vestas on Thursday said that the idea that tariffs will bring the world to a better place is “at least a new theory to many of us.”



Vestas’ Henrik Andersen also warned that additional duties on imported goods will likely create an inflation risk.



Asked about the prospect of trade tariffs in Europe and the souring regulatory environment for green energy in the U.S., Vestas’s CEO told CNBC: “I think to both, I will say, let sense prevail.”



SAP CEO Christian Klein on Thursday said that U.S. tariffs would not be helpful, underlining the importance for technology companies to make deals with global trade partners.



“I would say tariffs are not helping global trade. And when you look [at] the dependencies between Europe and the U.S., or the United States and China, I don’t believe that this is good,” Klein told CNBC.



SAP’s Klein said he’d been talking to several leaders in Davos about how SAP can support them with their supply chain and finance software.



“Because, you know, everyone is doing business in China. China, of course, also wants to continue to do business in the U.S. So, for technology, it’s now even more important to build these bridges, to build this resilient supply chains,” he added.

108091148-1737632698027-gettyimages-2194666352-AFP_36VC8GV

‘Let sense prevail’: European CEOs still hope to avoid a U.S. trade war

<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/GettyImages-1091184376-820x547.jpg" alt="" class="wp-image-577776" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-1091184376-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">DAVOS, CANTON OF GRAUBüNDEN, SWITZERLAND &#8211; 2019/01/24: Cyril Ramaphosa, president of South Africa, attends a panel at the 2019 World Economic Forum which took place in Davos from January 22 to 25. (Photo by Thierry Falise/LightRocket via Getty Images)</figcaption></figure>



DAVOS, Switzerland, (Reuters) &#8211; South Africa&#8217;s President Cyril Ramaphosa said on Wednesday that he was not worried about the country&#8217;s relationship with the U.S. under President Donald Trump.



Ramaphosa said he spoke to Trump after his U.S. election victory and looked forward to working with his administration.



&#8220;I&#8217;m not worried about our relations. I spoke to him soon after he was elected, congratulated him, and we both said we are looking forward to continued dealings and engagements,&#8221; he told reporters on the sidelines of the World Economic Forum&#8217;s annual meeting in Davos, Switzerland.



South Africa currently holds the G20 presidency, after which the U.S. takes over.



Ramaphosa said South Africa would work with the U.S. to prepare it for its G20 presidency. 



(Reporting by Brad Haynes; Writing by Bhargav Acharya; Editing by Alexander Winning)

Cyril Ramaphosa, president of South Africa, attends a panel

South Africa not worried about relationship with US under Trump, Ramaphosa says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090638-1737563597359-1U8A1425-820x547.jpg" alt="" class="wp-image-577769" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090638-1737563597359-1U8A1425-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090638-1737563597359-1U8A1425-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090638-1737563597359-1U8A1425-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090638-1737563597359-1U8A1425-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090638-1737563597359-1U8A1425-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108090638-1737563597359-1U8A1425-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Rachel Reeves, UK Finance Minister, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025. Gerry Miller | CNBC</figcaption></figure>



The U.K. is “not part of the problem” when it comes to “persistent” trade deficits that President Donald Trump wants to tackle, the country’s finance minister told CNBC Wednesday.



“I do understand that President [Donald] Trump is concerned about countries that are running large and persistent surpluses on the trade balance with the U.S. That’s not the case for the U.K.,” the U.K.’s Chancellor Rachel Reeves told CNBC’s Andrew Ross Sorkin.



“We are not part of the problem here. So we, the U.K., increased trade with President Trump last time he was in office,” she said, speaking to CNBC on the sidelines of the World Economic Forum in Davos, Switzerland.



President Trump is roundly irritated by the U.S.′ trade deficits with many of its partners, but trade with the U.K. has generally been more balanced, see-sawing between surplus and deficit in recent years.



The latest U.K. trade data shows that, in the second quarter of 2024, the U.K. had a trade surplus of £4.5 billion ($5.5 billion) with the U.S. in goods. In the second quarter of 2023, however, the U.K. had a trade in goods deficit with the U.S. of £2.3 billion.



As such, while China, Mexico, Canada and the EU are seen as the top targets for Trump’s trade tariffs, the U.K. might escape relatively unscathed, economists believe. Reeves expressed optimism over the outlook for U.K.-U.S. commerce.



“There is absolutely no reason why our two great nations, with such a strong and special relationship, can’t increase those flows of trade once again,” Reeves commented.



The U.K.’s finance minister is in Davos this week, trying to attract global investment into the British economy.



To achieve economic growth, she said, “we need more investment into the U.K. And so my message to U.S. investors and global investors too is: Britain is open for business, we want your investment.”



The trip comes after Reeves has come under sustained pressure since unveiling the Treasury’s spending and taxation plans last fall.



The package of measures presented in the ‘Autumn Budget’ centered on increasing the tax burden on British businesses and has drawn widespread criticism from industry leaders, who said the move would stifle investment, jobs and growth.



Recent data releases, including lower-than-expected growth data for November and higher-than-expected government borrowing costs in December, have also contributed to ongoing discomfort in the Treasury.



<h2 class="wp-block-heading" id="h-bond-turmoil"><a></a>Bond turmoil</h2>



The U.K. found itself in more hot water at the start of the year, as the interest rate that investors demanded to hold U.K. bonds — known as gilts — rose sharply, reflecting market jitters over the U.K’s economic prospects.



Reeves has held fast to her fiscal plans, saying that growing the U.K. economy is her top priority.



Commenting on recent gilt market turmoil, the minister said on Wednesday the country was “not immune to what happens in global markets.”



“What I would say, though, is that in the Budget that I set out in October, I put out the fiscal rules that this government will operate within. And those fiscal rules, to pay for day-to-day spending through tax receipts, and to get our debt down as a share of our GDP — those fiscal rules are the bedrock of economic and fiscal stability. They’re non-negotiable, and we will continue to meet them,” she said.



Donald Trump’s election last November represented another headache for the center-left Labour government, with a number of ministers, such as Foreign Minister David Lammy, making less-than-flattering comments about Trump in the past.



Unnatural bedfellows when it comes to political ideology, Prime Minister Keir Starmer, Reeves and the British establishment are looking to build good relations with the White House, particularly amid the potential threat of universal trade tariffs.



The Labour government has been targeted by Trump’s close ally Elon Musk in recent months, with the tech billionaire criticizing Prime Minister Starmer and Britain’s past investigations into child sexual exploitation.



Asked for her opinion on Musk’s interventions, Reeves said Musk was “entitled to his opinion, but he’s not one of the people who votes in the U.K. general election.”

108090638-1737563597359-1U8A1425

UK ‘not part of the problem’ when it comes to U.S. trade, Britain’s finance minister says

<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/GettyImages-2194490572-1-820x547.jpg" alt="" class="wp-image-577584" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194490572-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194490572-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194490572-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194490572-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194490572-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194490572-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Ursula von der Leyen, president of European Commission, addresses the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 21, 2025. The annual Davos gathering of political leaders, top executives and celebrities runs from January 20 to 24. Photographer: Stefan Wermuth/Bloomberg via Getty Images</figcaption></figure>



The European Union is “open for business” and keen on global partnerships, European Commission President Ursula von der Leyen said Tuesday, as the world braces for the trade protectionism of newly inaugurated U.S. President Donald Trump.



“Europe will seek cooperation, not just with longtime likeminded friends, but with any country we share interests with,” Von der Leyen said during her official address at the World Economic Forum in Davos, Switzerland. She suggested that, when it comes to challenges like climate change and artificial intelligence, countries must work together even amid a backdrop of “harsh competition.”



“Our message to the world is simple: if there are mutual benefits in sight, we are ready to engage with you. If you want to upgrade your clean tech industries, if you want to upscale your digital infrastructure, Europe is open for business,” Von der Leyen said.



The European Commission chief also noted that she saw growing interest from around the world to engage more with Europe, pointing to partnerships that the bloc has struck with Switzerland, Mexico and South American trade bloc Mercosur.



Europe is looking to boost cooperation with any countries open to collaboration, including partners like the U.S., Von der Leyen said, noting the close integration of the U.S. and EU economies. For example, she noted that many American workers are employed by European companies, and she also pointed to mutual supply chains and trade between the two countries.



“A lot is at stake for both sides,” she said. “Our first priority will be to engage early, discuss common interest and be ready to negotiate. We will be pragmatic, but we will always stand by our principles, we will protect our interests and uphold our values because that is the European way.”



Questions have risen over the future of the European Union’s trade relationship with historical ally Washington, after Trump threatened to impose tariffs on goods from the EU. The measures could significantly impact the bloc’s economies.



“While some in Europe may not like this new reality, we are ready to deal with it,” von der Leyen said.



German Chancellor Olaf Scholz meanwhile said that the U.S. remained Germany’s closest ally outside of Europe, adding that he would do everything he could for this to remain the case.



In his address at the World Economic Forum, Scholz on Tuesday said maintaining this relationship would be in the mutual interest of the U.S. and Germany and that close cooperation between the two was “indispensable for peace and security around the globe,” according to a WEF translation to English. He also said the country’s partnership was key for economic development.



Scholz disclosed that he has had “good first talks” with Trump, but noted that “at the same time, it is absolutely clear President Trump and his government will keep the world in suspense” with respect to various policy areas.



“We are able and will be dealing with this, without any excitement and indignation but also without fake cozying up and telling them what they want to hear,” Scholz said.



The European Commission’s Von der Leyen also that “we should strive for mutual benefits” when talking to the world’s second largest economy, China, with whom the bloc has previously been at odds with over trade and tariffs. Among other steps in their long-standing tit-for-tat economic measures, the EU has imposed duties on imported Chinese electric vehicles, while Beijing launched an anti-dumping investigation into brandy from the EU. China has also been on the receiving end of Trump’s trade threats.



“2025 marks 50 years of our union’s diplomatic relations with China. I see it as an opportunity to engage and deepen out relationship with China and where possible eve to expand out trade and investment ties. it is time to pursue a more balanced relationship with China,” Von der Leyen said.

Opening Day Of World Economic Forum (WEF) 2025

As Trump takes office, the European Union says it’s ready to do business with the world

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1908" height="1363" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/DPL3JG6BMVNRRNWVIDNA74R5A4.avif" alt="" class="wp-image-577510"/><figcaption class="wp-element-caption">Zimbabwe Finance Minister Mthuli Ncube arrives to present the 2020 National Budget at Parliament Building in Harare, Zimbabwe, November 14, 2019. REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



Jan 22 (Reuters)&nbsp;&#8211;&nbsp;Zimbabwe&#8217;s finance minister expressed concern on Wednesday that a U.S. withdrawal from the World Health Organization will lead to aid cuts to countries such as his that are most affected by HIV/AIDS.



President Donald Trump signed an executive order on the U.S. withdrawal after his inauguration to a second term on Monday.



Warning that a U.S. withdrawal could signal cuts in health aid to countries such as Zimbabwe, Finance Minister Mthuli Ncube said: &#8220;Any country with an HIV/AIDS challenge will be impacted.&#8221;



&#8220;This is a concern, a fear we are expressing,&#8221; Ncube told an online briefing from the Swiss resort of Davos, where was attending the World Economic Forum.



Zimbabwe receives over $200 million annually from the U.S. President&#8217;s Emergency Plan for AIDS Relief (PEPFAR), and the U.S government has given Zimbabwe over $1.7 billion since 2006 to strengthen health systems and support people living with HIV, according the U.S. embassy in Harare.



PEPFAR contributes nearly $90 million a year to support salaries and incentives for healthcare workers in Zimbabwe, in addition to funding HIV and viral load testing, prevention, cervical cancer screening and tuberculosis treatment.



Zimbabwe is struggling to fund its public health system, and the government introduced a sugar tax on beverages last year to help raise funds for cancer treatment. Another tax on fast foods was introduced this year.



&#8220;We need to scale up our funding for health. The earmarked taxes should be directed towards health as we build our capacity to fill the gap should any funding recede,&#8221; Ncube said.



(Reporting by Nyasha Chingono; Editing by Tannur Anders and Timothy Heritage)

DPL3JG6BMVNRRNWVIDNA74R5A4

Zimbabwe fears US withdrawal from WHO will hit HIV/AIDS programmes

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089710-1737466393786-gettyimages-1252137672-SPAIN_IBERDROLA-820x461.jpeg" alt="" class="wp-image-577480" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089710-1737466393786-gettyimages-1252137672-SPAIN_IBERDROLA-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089710-1737466393786-gettyimages-1252137672-SPAIN_IBERDROLA-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089710-1737466393786-gettyimages-1252137672-SPAIN_IBERDROLA-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089710-1737466393786-gettyimages-1252137672-SPAIN_IBERDROLA-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089710-1737466393786-gettyimages-1252137672-SPAIN_IBERDROLA-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089710-1737466393786-gettyimages-1252137672-SPAIN_IBERDROLA.jpeg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A logo on the nacelle of a wind turbine at the Martin de la Jara wind farm, operated by Iberdrola SA, in the Martin de la Jara district of Sevilla, Spain, on Friday, April 21, 2023. Bloomberg | Bloomberg | Getty Images</figcaption></figure>



Renewable energy giants appear relatively sanguine about U.S. President Donald Trump’s anti-wind policies, describing the process of replacing fossil fuels with electrically powered products as “absolutely unstoppable.”



Trump, who promised a new “golden age” for America in his inaugural address on Monday, swiftly took aim at low-carbon energy initiatives.



In a standalone executive order, which had been widely expected, the president temporarily suspended new or renewed leases for offshore and onshore wind projects and halted the leasing of wind power projects on the outer continental shelf.



“We are not going to do the wind thing. Big ugly windmills, they ruin your neighborhood,” Trump told his supporters at the Capital One Area in Washington on Monday. He previously described wind turbines as an economic and environmental “disaster.”



The measures formed part of a much broader energy offensive designed to “unleash” already booming oil and gas production. This included declaring a national energy emergency, promoting fossil fuel drilling in Alaska and signing an executive order to withdraw the U.S. from the landmark Paris Agreement.



Joe Kaeser, chairman of the supervisory board of Siemens Energy, one of the world’s biggest renewables players, seemed unfazed by Trump’s sweeping energy agenda. In fact, Kaeser considered the policies a “slight plus” for the German energy technology group.



Shares of Siemens Energy jumped more than 8% on Wednesday morning, hitting a new 52-week high.



“We need to see what’s behind all the executive orders and the policies. So far, I believe there are many areas where actually Siemens Energy benefits a lot,” Kaeser told CNBC’s Dan Murphy at the World Economic Forum’s (WEF) annual meeting in Davos, Switzerland on Tuesday.



There will be uncertainty for low-carbon energy sectors, such as onshore and offshore wind, Kaeser said, before adding that Trump’s measures were unlikely to directly impact Siemens Energy. That’s partly because roughly 80% of the firm’s wind market is in Europe, Kaeser said.



“So, I believe that doesn’t move the needle. I’m much more worried about the European economies and how they deal with a very powerful nation, with a very powerful concept. We may or may not like it, because it’s got some nationalistic type of things, but if we look at it from the view of the American people, we better get something going,” Kaeser said.



Beyond onshore and offshore wind, Kaeser said Siemens Energy was well positioned to capitalize from a “booming” electrification market.



“Think about the data centers, artificial intelligence, we have waiting times now on large gas turbines. Actually, customers are coming and saying, hey can I make a reservation and I’ll pay you for a reservation? Just think about that. It hasn’t happened for a long time,” Kaeser said.



“I believe the electrification age has just begun. Whether that’s gas turbines or wind or solar or something else, we’ve got everything, and the customers decide in the end. And one thing I believe one should not underestimate, the White House is not buying much [but] the customer does,” he added.



<h2 class="wp-block-heading" id="h-very-very-optimistic"><a></a>‘Very, very optimistic’</h2>



Spanish renewable energy giant Iberdrola was similarly bullish about the road to full electrification, describing the transition away from fossil fuels as “absolutely unstoppable.”



“We are seeing that probably we are in the best moment for electrification,” Ignacio Galán, executive chairman of Iberdrola, told CNBC at WEF on Tuesday.



Galán cited soaring global demand for electrically powered data centers, low-emission vehicles as well as cooling and heating applications.



“All of those things require more electricity 24 hours a day. Our business in the United States is mostly in this area, which is networks … and the regulation depends on the state authority, so I think that is not really affected at all,” Galán said.



“Depending on the legislation, we will make more or less investment in another part of our business,” he added, referring to Trump’s energy policy.



“We are very, very optimistic about the United States and the future,” Galán said.



<h2 class="wp-block-heading"><a></a>Wind power woes</h2>



Shares of some European wind power giants fell shortly after Trump took aim at wind power plans.



Denmark’s Orsted, which recently announced a roughly $1.7 billion impairment charge on U.S. projects, dipped 4.4% on Wednesday morning, extending steep losses from the previous session.



The rapidly growing offshore wind sector has endured a torrid time in recent years, hampered by rising costs, supply chain disruption and higher interest rates.



Artem Abramov, head of new energies research at Rystad Energy, said Trump’s energy agenda essentially means the likelihood of any new offshore developments in the U.S. has fallen to zero — at least for now.



“The US currently has around 2.4 gigawatts (GW) of advanced-stage offshore wind developments that have reached final investment decision and are under construction, which are unlikely to be impacted by the order,” Abramov said in a research note published Tuesday.



“Moderate risk amid the unfavorable investment climate is present for 10.5 GW of projects which secured necessary permits but have not reached investment decisions,” Abramov said.



“The remaining 25 GW of early-stage projects are unlikely to see any progress under the current administration,” he added.



— CNBC’s Spencer Kimball contributed to this report.

108089710-1737466393786-gettyimages-1252137672-SPAIN_IBERDROLA

Renewable giants shrug off Trump’s anti-wind policies: ‘Electrification is absolutely unstoppable’

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108088946-1737375722728-Davos_Promenade_2025_AI_-_Pic_1-820x462.jpg" alt="" class="wp-image-577390" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108088946-1737375722728-Davos_Promenade_2025_AI_-_Pic_1-820x462.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108088946-1737375722728-Davos_Promenade_2025_AI_-_Pic_1-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108088946-1737375722728-Davos_Promenade_2025_AI_-_Pic_1-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108088946-1737375722728-Davos_Promenade_2025_AI_-_Pic_1-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108088946-1737375722728-Davos_Promenade_2025_AI_-_Pic_1-1536x865.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108088946-1737375722728-Davos_Promenade_2025_AI_-_Pic_1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Companies advertised their AI products on the Davos Promenade at the World Economic Forum 2025. Arjun Kharpal | CNBC</figcaption></figure>



The Davos Promenade in Switzerland is the focal point of the World Economic Forum’s annual meeting in the Swiss ski town.



Some of the world’s biggest companies take over cafes, shops and restaurants and build temporary meeting and event spaces for the week — and their branding often gives away what’s top of mind for business leaders.



It’s no surprise, then, that artificial intelligence dominated the space this year, given the boom in the technology, which has propelled firms to capitalize on AI interest — especially from businesses.



A poll from consultancy Accenture out on Monday revealed that 58% of execs expect generative AI solutions to be adopted at scale within the organization in 2025, up from just 37% in 2024. Generative AI is the technology that underpins applications like ChatGPT.



Several companies from Intel to Salesforce and Workday displayed AI-linked branding on the front of their spaces.



Showing on the promenade can often follow what’s happening in markets, with crypto companies have been out in force in the past. The explosion of AI branding kicked off at Davos in 2024, pushing aside crypto, at a time when ChatGPT was still gaining in popularity, while Nvidia’s stock continued to rally. Nvidia, whose chip systems are used to train huge AI models, is seen as a benchmark for investor appetite in artificial intelligence.



Advances in AI, as well as the dangers of rapidly-advancing systems, will be discussed during this year’s WEF. Artificial general intelligence — or AGI, describing AI systems that are smarter than humans — will be in focus, as well as current advances with AI agents.

108088946-1737375722728-Davos_Promenade_2025_AI_-_Pic_1

AI mania takes over Davos as the world’s biggest firms tout their offerings

<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/GettyImages-2194473623-820x547.jpg" alt="" class="wp-image-577169" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/GettyImages-2194473623-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Lesetja Kganyago, governor of South Africa&#8217;s Reserve Bank, during a Bloomberg Television interview at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 21, 2025. The annual Davos gathering of political leaders, top executives and celebrities runs from January 20 to 24. Photographer: Hollie Adams/Bloomberg via Getty Images</figcaption></figure>



DAVOS, Switzerland, Jan 21 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s economic outlook is better this year than last, but the inflation picture is more muddied as risks abound, its central bank governor said on Tuesday.



South African Reserve Bank (SARB) Governor Lesetja Kganyago told Reuters in an interview at the World Economic Forum&#8217;s annual meeting in Davos, Switzerland, that growth in Africa&#8217;s most industrialised economy could be close to 2% in 2025, versus the 1.1% growth projected for 2024.



&#8220;Depending on who is forecasting, growth varies between 1.6% and 2% (this year). We think &#8230; it would be closer to 2% than closer to 1.6%,&#8221; he told the Reuters Global Markets Forum.



Kganyago cited the formation of a broad coalition government last year as one of the key enablers of faster growth.



&#8220;The structural reform agenda has gained momentum, and it has been given impetus by this Government of National Unity with a very clear focus on taking South Africa&#8217;s economic trajectory to the next level,&#8221; he said.



The coalition that emerged after the long-ruling African National Congress lost its parliamentary majority includes the business-friendly Democratic Alliance and a host of other smaller parties from across the political spectrum.



Investors are optimistic that reforms in key sectors such as electricity, freight rail and the visa system will accelerate and lift the annual growth rate beyond the meagre 1% it has averaged over the past decade.



Kganyago warned that South Africa&#8217;s inflation outlook could be muddied by factors including protectionist policies with the return of U.S. President Donald Trump to the White House.



With other risks including the rand exchange rate, the global oil price and local food prices, there are &#8220;too many moving parts&#8221; to have a clear view on price pressures, he said.



Annual consumer inflation was at 2.9% in November, below the SARB&#8217;s target range of 3%-6%, although it is expected to rise in December and this year average about 4.5%, the midpoint of the range which the bank aims for.



The SARB cut interest rates at its last two meetings of 2024, and many analysts expect a further cut at its first announcement of the year next Thursday.



(Reporting by Divya Chowdhury in Davos; Additional reporting and writing by Kopano Gumbi in Johannesburg; Editing by Alexander Winning and Alex Richardson)

South African growth outlook has improved but inflation risks abound, central bank says at Davos

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="504" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-820x504.jpg" alt="" class="wp-image-577142" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-820x504.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-300x185.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-146x90.jpg 146w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-768x472.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-1536x945.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/23WCRTIR7NLJLLNGJAAE2KWBSQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Protesters throw stones during a &#8220;national shutdown&#8221; against the election outcome, at Luis Cabral township in Maputo, Mozambique, November 7, 2024. REUTERS/Siphiwe Sibeko</figcaption></figure>



Jan 21 (Reuters)&nbsp;&#8211;&nbsp;Mozambique&#8217;s largest port, Maputo, reported a 1% decline in volumes in 2024 mainly due to post-election protests that forced border closures and road blockages, the port operator said on Tuesday.



The southeast African country was rocked by opposition protests after a disputed Oct. 9 vote won by Daniel Chapo and his Frelimo party, which has governed Mozambique since 1975. The unrest has left more than 300 people dead following a crackdown by security forces.



Maputo port volumes for 2024 dipped to 30.9 million metric tons, from a record 31.2 million metric tons in 2023, the Maputo Port Development Company (MPDC) said in a statement.



&#8220;The slight decrease in total volumes &#8230; was primarily due to the post-electoral protests and road blockages in the Maputo corridor, including border closure for several days and conditioned border and road operations for more than a month consolidated,&#8221; MPDC said.



The rail corridor from South Africa to Mozambique was also affected by the protests and blockages, paired with a derailment in October and November, which shut the line for a month, MPDC added.



The Maputo port is handling growing volumes mainly driven by commodity exporters increasingly sending cargo through Mozambique to get around logistics bottlenecks in South Africa. Goods handled include coal, chrome, copper, and grains such as maize and wheat.



The MPDC is a consortium including multinational logistics firm DP World, South Africa&#8217;s Grindrod Ltd, and Mozambique&#8217;s state-owned rail operator Caminhos de Ferro de Moçambique.



The consortium, first granted the Maputo port concession in 2003, was last year granted an extension to 2058. The port is also set to be expanded to handle 58 million tons of cargo, from 37 million tons currently.



(Reporting by Nelson Banya; Editing by Mark Potter)

Mozambique opposition party leads national shutdown against election outcome

Mozambique’s Maputo port volumes dip after post-election unrest

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089378-1737420172919-gettyimages-2194232437-TRUMP_INAUGURATION_2025-820x547.jpeg" alt="" class="wp-image-577095" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089378-1737420172919-gettyimages-2194232437-TRUMP_INAUGURATION_2025-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089378-1737420172919-gettyimages-2194232437-TRUMP_INAUGURATION_2025-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089378-1737420172919-gettyimages-2194232437-TRUMP_INAUGURATION_2025-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089378-1737420172919-gettyimages-2194232437-TRUMP_INAUGURATION_2025-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089378-1737420172919-gettyimages-2194232437-TRUMP_INAUGURATION_2025-1536x1024.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/108089378-1737420172919-gettyimages-2194232437-TRUMP_INAUGURATION_2025-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">U.S. President Donald Trump during a rally at Capital One Arena ahead of the 60th presidential inauguration in Washington, DC, US, on Sunday, Jan. 19, 2025.  Al Drago | Bloomberg | Getty Images</figcaption></figure>



<h2 class="wp-block-heading" id="h-what-you-need-to-know-today">What you need to know today</h2>



The 47th U.S. president President Donald J. Trump was sworn into the White House on Monday and began signing a flurry of executive orders. He issued “full pardons” to people charged in relation to the attack on the U.S. Capitol on Jan. 6, 2021; halted, for at least 75 days, the enforcement of a law that would ban TikTok in the United States; and created the Elon Musk-led Department of Government Efficiency, or DOGE.



National energy emergency declared Trump on Monday declared a national energy emergency — part of a sweeping agenda that aims to increase fossil fuel production — and ordered the U.S. to withdraw from the Paris climate agreement. He also repealed the Biden administration’s various climate goals, such as achieving net-zero emissions by 2050.



Trump targets tariffs Trump told reporters on Monday that he’s thinking of imposing levies of 25% on Mexico and Canada, and is targeting Feb. 1 for them to come into effect. He also issued a trade memorandum instructing federal agencies to scrutinize trade policies with other nations, especially China, Canada and Mexico — but the memo stopped short of introducing new duties.



Biden’s pardons Former U.S. President Joe Biden on Monday issued preemptive pardons for several family members, citing concerns that they would be targeted by “baseless and politically motivated investigations.” Biden also issued pardons for Anthony Fauci, Gen. Mark Milley, members of Congress who investigated the Jan. 6 Capitol riot and others who he said were under threat of being “baselessly” targeted for political purposes.



Asian markets rise after inauguration U.S. markets were closed Monday for Martin Luther King Jr. Day. Stock futures mostly edged lower Tuesday after Trump indicated he’s considering tariffs on Mexico and Canada. Asia-Pacific markets advanced Tuesday. Hong Kong’s Hang Seng index added almost 1%, while Korea’s Kospi index ticked down around 0.1% as the country’s wholesale inflation rate for December climbed 1.7% on an annual basis.



[PRO] Second time an echo of the first? Trump’s second term might have the same effects on certain asset classes as it did the first-time round, according to some on Wall Street. To find out, CNBC Pro looked at the performance of several assets during the first 100 days of Trump’s last presidency and asked analysts how those assets will fare.



<h2 class="wp-block-heading" id="h-the-bottom-line"><a></a>The bottom line</h2>



Donald Trump has hit the ground running since officially becoming the 47th president of the United States, signing numerous executive orders fresh off his inauguration. Here are the two main issues investors will keep an eye on.



Tariffs



“To me, the most beautiful word in the dictionary is ‘tariff,’” Trump told the Chicago Economic Club in October. Trump said on Monday he’s mulling over imposing 25% tariffs on goods from Canada and Mexico by Feb. 1. On the campaign trail, Trump vowed to levy a universal tariff of up to 20% on all imports to the U.S and more than 60% on Chinese products.



Tariffs are imposed by governments ostensibly to protect domestic industries. Companies that import goods pay what is essentially a tax, driving up costs. This nudges them to look for local suppliers instead.



With supply chains being so integrated globally, and much of the manufacturing being done outside the U.S., companies may find it hard to shift production to local shores. The higher costs, then, will likely be passed on to the consumer in the form of increased prices.



In other words, tariffs could lead to more inflation.



Deportations



At a pre-inauguration event titled “Make America Great Again Victory Rally,” Trump pledged to his supporters that “the invasion of our country will have come to a halt.” Like tariffs, tighter immigration policies — or outright deportations — are typically enacted to protect the domestic economy (among other reasons).



The theory is that, with fewer people competing for each open job, it’ll be easier to gain employment.



But many parts of the U.S. economy, such as construction and agriculture, are staffed by undocumented immigrants, who take on jobs undesirable to residents. Even documented immigrants are crucial to higher-skilled sectors such as tech — as proven by Elon Musk’s tussle with Trump supporters over H-1B visas.



If reliable sources of labor vanish overnight, companies will have to raise wages to attract talent, which might reintroduce the prospect of the dreaded wage-price spiral.



Other policies



Trump has promised many other economic measures, such as corporate tax cuts, legitimizing cryptocurrency and pulling back on green energy subsidies.



Tariffs, however, might have the biggest impact on the economy and financial institutions globally.



— CNBC’s Sam Meredith, Ryan Ermey, Annie Nova, Rebecca Picciotto, Evelyn Cheng and Lim Hui Jie contributed to this report.

108089378-1737420172919-gettyimages-2194232437-TRUMP_INAUGURATION_2025

Keep an eye on these Trump 2.0 policies

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/105325942-1531403759987gettyimages-996948238-820x461.jpeg" alt="" class="wp-image-576846" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/01/105325942-1531403759987gettyimages-996948238-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/105325942-1531403759987gettyimages-996948238-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/105325942-1531403759987gettyimages-996948238-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/105325942-1531403759987gettyimages-996948238-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/105325942-1531403759987gettyimages-996948238-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/01/105325942-1531403759987gettyimages-996948238.jpeg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">U.S. President Donald Trump at a press conference at the end of the NATO summit in July 12, 2018. Bernd von Jutrczenka | dpa | picture alliance | Getty Images</figcaption></figure>



U.S. President-elect Donald Trump returns to the White House on Monday, and much of the world is watching on with bated breath.



The prospect of more unpredictable foreign and trade policies, particularly the threat of universal trade tariffs of 10-20%, has stoked concerns internationally and spooked financial markets. But Trump’s transactional approach and his “America First” policy are not universally feared.



In fact, many countries welcome a new era that’s being labeled “Trump 2.0.”



“Trump’s return is lamented by America’s long-term allies, but almost nobody else,” the European Council on Foreign Relations think tank said as it published a global poll that found that people in China and Russia were more optimistic about Trump’s return to power than long-standing allies in Europe and Asia.



“Many think Trump will not just be good for America but that he will bring peace or reduce tensions in Ukraine, the Middle East and U.S.-China relations,” the poll of over 28,000 people in 24 countries found.



“In countries from India and China to Turkey and Brazil, more respondents think Trump will be good for America, for their country and for peace in the world than think he will be bad for them,” the ECFR said of the findings.



The survey showed that respondents in India, Saudi Arabia and Russia were the most optimistic about Trump’s return to office, both in terms of it being good for U.S. citizens and for their own countries.



Almost 60% of Russian respondents felt Trump’s election was good for U.S. citizens and 49% felt it was a good thing for Russia.



Closely following, 46% of Chinese respondents felt Trump’s return was good for China. That’s despite Trump’s threat to impose tariffs of 60% to 100% on goods imported from China, a move that could deal a blow to the Chinese economy but also backfire, likely pushing up prices for U.S. consumers.



Positive sentiment toward Trump among the original BRICS nations (Brazil, Russia, India, China and South Africa) — and the belief that a more peaceful world might ensue as a result of his presidency — was far higher than in the EU, U.K. and South Korea, where only 11% of citizens polled regarded a Trump presidency as a good thing for their future.



Just a tad more cheerful, only 15% of British respondents thought Trump would be good for the U.K. So much for the “special relationship.”



“When Donald Trump returns to the White House, much of the world will welcome him. In Europe, anxiety is widespread, but people in many other countries feel either relaxed or actively positive about Trump’s second term,” the ECFR noted as it published the survey, conducted in November.



“U.S. allies in Europe and South Korea are notably pessimistic about the incoming president — suggesting a further weakening of the geopolitical ‘West’,” it added.



<h2 class="wp-block-heading" id="h-trump-empowered"><a></a>Trump empowered</h2>



Geopolitical analysts say things will be different with President Trump this time round, and the world needs to be ready.



Not only will he be emboldened by the scale of his 2024 electoral victory, the firm support of a unified Republican Party and returning to the White House with more experience, he has also surrounded himself with loyalists who are more ideologically aligned with him, noted Ian Bremmer, founder and president of Eurasia Group.



Bremmer told CNBC that Trump 2.0 will see the president hold more power and sway than before, while the West and the Group of Seven — a group that includes the U.K., Canada and Germany — lose status.



“Trump has significantly more power vis-a-vis other countries this time around — both U.S. allies and adversaries — so they’re more inclined to listen to him and take him seriously,” Bremmer told CNBC in emailed comments.&nbsp;



“Trump also has more countries and populations lined up in support of his “my country first” approach to governing,” Bremmer added.



“He had a strong relationship with Israel and the Gulf states in his first term, but now add to that Italy, Hungary, Argentina, El Salvador … and large parts of populations in a number of other countries as well. It’s very different than Trump showing up at the G20 and everyone snickering behind his back,” he noted.



“Today’s G-Zero world is a very different environment,” Bremmer added, referring to his view of a world in which no one power or group of powers is willing and able to drive a global agenda to maintain international order.



Market analysts agree that while Trump’s antipathy toward China, the U.S.′ greatest economic rival, is well known, his long-standing ambivalence toward NATO and his anger over a continuing trade deficit with much of Europe make allies on the continent a target for Trump’s likely more assertive, and potentially hostile, trade and defense policies.



European countries make up the majority of constituents of NATO and the EU is the U.S.′ largest trading partner as a bloc.



“Here in Europe, we are concerned,” market strategist Bill Blain [if he’s not independent can we state the company/org he’s from please] said in emailed comments last week. “However, the rest of the World is largely unbothered at the scale of change that might be coming.”



“It’s clear the geopolitical lines are being redrawn. So will the grounds of global economics be redefined,” Blain added.

featured

UK to soften tax rules for wealthy foreigners after millionaire exodus, Rachel Reeves says

S.Africa’s Richards Bay exports up 10% in 2024 amid rail improvement

Nigeria needs to double economic growth within a year or two, finance minister says

South Africa’s patchwork climate plans risk widening inequality

Botswana president aims to clinch De Beers deal, diversify economy

From Musk to Nadella: Trump’s $500 billion AI project stirs drama among the biggest names in tech

‘Let sense prevail’: European CEOs still hope to avoid a U.S. trade war

South Africa not worried about relationship with US under Trump, Ramaphosa says

UK ‘not part of the problem’ when it comes to U.S. trade, Britain’s finance minister says

As Trump takes office, the European Union says it’s ready to do business with the world

Zimbabwe fears US withdrawal from WHO will hit HIV/AIDS programmes

Renewable giants shrug off Trump’s anti-wind policies: ‘Electrification is absolutely unstoppable’

AI mania takes over Davos as the world’s biggest firms tout their offerings

South African growth outlook has improved but inflation risks abound, central bank says at Davos

Mozambique’s Maputo port volumes dip after post-election unrest

Keep an eye on these Trump 2.0 policies

As America braces for Trump 2.0, here’s how the world views his return

News Tips

Advertise With Us

featured

UK to soften tax rules for wealthy foreigners after millionaire exodus, Rachel Reeves says

S.Africa’s Richards Bay exports up 10% in 2024 amid rail improvement

Nigeria needs to double economic growth within a year or two, finance minister says

South Africa’s patchwork climate plans risk widening inequality

Botswana president aims to clinch De Beers deal, diversify economy

From Musk to Nadella: Trump’s $500 billion AI project stirs drama among the biggest names in tech

‘Let sense prevail’: European CEOs still hope to avoid a U.S. trade war

South Africa not worried about relationship with US under Trump, Ramaphosa says

UK ‘not part of the problem’ when it comes to U.S. trade, Britain’s finance minister says

As Trump takes office, the European Union says it’s ready to do business with the world

Zimbabwe fears US withdrawal from WHO will hit HIV/AIDS programmes

Renewable giants shrug off Trump’s anti-wind policies: ‘Electrification is absolutely unstoppable’

AI mania takes over Davos as the world’s biggest firms tout their offerings

South African growth outlook has improved but inflation risks abound, central bank says at Davos

Mozambique’s Maputo port volumes dip after post-election unrest

Keep an eye on these Trump 2.0 policies

As America braces for Trump 2.0, here’s how the world views his return

News Tips

Advertise With Us

Newsletters