Why Copper Demand Is Skyrocketing

When will AI be smarter than humans?

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/HKHJ5EZWR5O3TEDZQXQKIQJWWE-820x547.jpg" alt="" class="wp-image-492340" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/HKHJ5EZWR5O3TEDZQXQKIQJWWE-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/HKHJ5EZWR5O3TEDZQXQKIQJWWE-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/HKHJ5EZWR5O3TEDZQXQKIQJWWE-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/HKHJ5EZWR5O3TEDZQXQKIQJWWE-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/HKHJ5EZWR5O3TEDZQXQKIQJWWE-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/HKHJ5EZWR5O3TEDZQXQKIQJWWE-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Julius Malema, the leader of South African opposition party, the Economic Freedom Fighters (EFF), waves to supporters at a rally in Dobsonville, Soweto near Johannesburg, South Africa, March 2, 2024. REUTERS/James Oatway/File Photo</figcaption></figure>



JOHANNESBURG, May 30 (Reuters) &#8211; South Africa&#8217;s Julius Malema, who quit the ruling African National Congress to form a radical leftist party, could potentially become a kingmaker or even deputy president if the ANC loses its majority as early election results suggest.



The prospect of the ANC co-opting Malema and his Economic Freedom Fighters (EFF) to stay in power after Wednesday&#8217;s election strikes fear into investors and the white upper-middle class he rails against.



The EFF&#8217;s promises to nationalise the country&#8217;s gold and platinum mines and seize land from white farmers are among proposals they fear threaten not just their privileges but also Africa&#8217;s most industrialised economy.



Malema&#8217;s pledge to redress persistent racial and economic disparities resonates with his constituents which include tens of thousands of unemployed, disenfranchised urban Black youths and middle class students struggling to afford fees or graduates unable to find decent jobs in a stagnant economy.



The ANC liberated Black South Africans from white minority rule, but the widespread prosperity it promised three decades ago has yet to materialise. Meanwhile the very richest &#8211; both Black and white &#8211; have seen their share of the wealth expand.



A third of South Africans, including many Black voters with college degrees, are out of work.



&#8220;The EFF points out accurately &#8230; that we haven&#8217;t solved the racial issue in this country,&#8221; Steven Friedman, director of South Africa&#8217;s Centre for the Study of Democracy, said.



Yet, he added that Malema had failed to broaden the party&#8217;s appeal to those in extreme poverty in rural areas.



The EFF, reminiscent of socialist movements of the past with its trademark red shirts and berets, captured more than 10% of the vote in national polls in 2019 and 2021 local ones.



However, Malema&#8217;s wealth and lifestyle have attracted criticism from political rivals who deride his penchant for flashy cars, gold watches, champagne and luxury mansions in leafy suburbs. He sold one such mansion, complete with a cinema and a cigar lounge to pay off $1 million in tax arrears.



He has also faced allegations of corruption, which he denies. In 2015, a court threw out money laundering charges against him relating to government contracts.



<h2 class="wp-block-heading" id="h-sowing-division">&#8216;SOWING DIVISION&#8217;</h2>



At a late 2020 rally in Senekal, in the largely agrarian Free State province, dozens of Malema&#8217;s Black supporters in red shirts were facing off with a small group of white supremacists, some donning apartheid-era army uniforms.



The tension was palpable until an EFF security guard called over one of the white counter-protestors with a friendly gesture. After talking, each then faced their side and made calming hand signals, defusing the row.



It was typical of Malema&#8217;s ability to turn up the heat on the country&#8217;s simmering racial and class tensions without them boiling over.



Born the son of a domestic worker for an Indian family in Limpopo, north of Johannesburg, Malema was politically active from a young age and rose through the ranks to ANC Youth League president in 2008.



He founded his breakaway party after the ruling ANC suspended him as youth leader in 2011 for &#8220;sowing division&#8221;.



While his followers affectionately call him &#8220;Juju&#8221; &#8211; short for Julius &#8211; Malema&#8217;s detractors prefer names like &#8220;firebrand&#8221;, &#8220;militant&#8221; &#8220;clown&#8221; or &#8220;populist&#8221;.



Yet in a nation in which the main populist issue is hostility towards migrants from other African countries, his party is the only one that seeks to repeal policies that hinder the free movement of Africans.



&#8220;The EFF is swimming against the tide when it comes to immigration,&#8221; Chris Ogunmodede, analyst and editor of World Politics Review, said. &#8220;(It) will likely lose out (on) many votes it might otherwise get.&#8221;



Although Malema briefly flirted with xenophobia in January 2022, when he announced visits to restaurants to check they were not employing too many foreigners, he never repeated the stunt.



(Additional reporting by Anait Miridzhanian; Editing by Estelle Shirbon and Emelia Sithole-Matarise)

FILE PHOTO: South African opposition party rally

South Africa’s divisive Malema could be post-election kingmaker

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg" alt="" class="wp-image-423556" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS/Thomas White/Illustration</figcaption></figure>



JOHANNESBURG, May 30 (Reuters) &#8211; The South African rand fell on Thursday as early <a href="https://www.cnbcafrica.com/2024/early-results-in-south-africas-election-show-anc-losing-majority/">poll results</a> showed the governing African National Congress was on course to lose its majority, a scenario that could lead to weeks of uncertainty as it tries to negotiate a coalition with one or more smaller parties.



At 0716 GMT, the rand traded at 18.6525 against the dollar&nbsp;ZAR=D3, over 1% weaker than its previous close. The dollar&nbsp;=USD&nbsp;last traded around 0.1% weaker against a basket of global currencies.



Vote counting was underway on Thursday after South Africans took to the polls on Wednesday in the most contested election since the end of apartheid.



The governing African National Congress is projected to get roughly 42% of the national vote, the country&#8217;s Council for Scientific and Industrial Research told the public broadcaster on Thursday.



Around 11.37% of the votes had been tallied at 0716 GMT, and markets are likely to get a clearer picture of the outcome as counting continues.



South Africa&#8217;s benchmark 2030 government bond&nbsp;ZAR2030=&nbsp;was weaker in early deals, with the yield up 17 basis points to 10.695%.



(Reporting by Tannur Anders; Editing by David Holmes)

Illustration photo of South African rand

South African rand falls as election vote count gets underway

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-820x461.jpeg" alt="" class="wp-image-491921" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN.jpeg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The company logo adorns the side of the BHP gobal headquarters in Melbourne on February 21, 2023. &#8211; The Australian multinational, a leading producer of metallurgical coal, iron ore, nickel, copper and potash, said net profit slumped 32 percent year-on-year to 6.46 billion US dollars in the six months to December 31. (Photo by William WEST / AFP) (Photo by WILLIAM WEST/AFP via Getty Images)
William West | Afp | Getty Images</figcaption></figure>



May 29 (Reuters)&nbsp;&#8211;&nbsp;BHP Group&nbsp;BHP.AX&nbsp;said on Wednesday it did not intend to make a formal offer for Anglo American&nbsp;AAL.L, walking away from its $49 billion takeover deal, after the London-listed rival refused to extend the bid deadline.



&#8220;We were unable to reach agreement with Anglo American on our specific views in respect of South African regulatory risk and cost,&#8221; BHP said in a statement, adding that it did not get &#8220;key information&#8221; from Anglo to address these risks.



Anglo <a href="https://www.reutersconnect.com/all?search=all%3AL4N3HW1DF&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">rejected</a> BHP&#8217;s last-ditch request for more time to discuss a takeover offer, dismissing it as highly complex, after the miner had granted BHP a one-week extension to its original May 22 deadline to submit a binding offer.



This is a developing story&#8230;



(Reporting by Yadarisa Shabong and Pushkala Aripaka in Bengaluru; Editing by Shinjini Ganguli)

107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN

BHP walks away from $49 billion takeover offer for Anglo American

How much money the U.S. spends on 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/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-820x547.jpg" alt="" class="wp-image-425151" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/05/5DSIOVXMUFLQ5NBH22D3TKPXYU-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: President of the Republic of Botswana, Mokgweetsi Eric Keabetswe Masisi, speaks prior to the official talks with the delegation members of Switzerland and Botswana, in Bern, Switzerland, May 1, 2023. Peter Klaunzer/Keystone/Pool via REUTERS/</figcaption></figure>



GABORONE, May 29 (Reuters)&nbsp;&#8211;&nbsp;Botswana is hoping for a quick separation of De Beers from the Anglo American Plc&nbsp;AAL.L&nbsp;group before the UK-listed diversified mining giant is exposed to a possible hostile takeover, President Mokgweetsi Masisi said on Wednesday.



Botswana, the world&#8217;s top diamond producer by value, is finalising a new ten-year gem sales deal agreed last June with De Beers. The two parties had agreed to finalise the deal by June 28 this year, but the proposed takeover of Anglo by the BHP Group BHP.AX has brought uncertainty to the sales agreement.



Anglo has rebuffed BHP and on Wednesday rejected the Australian company&#8217;s request for more time to discuss its latest $49 billion takeover offer.



Anglo plans to divest from De Beers and its other coal, nickel and platinum assets to focus on energy transition metal copper.



Masisi said he would meet Anglo and De Beers executives at jewellery industry trade event the JCK Show in the United States this week.



“One thing we don’t want is a hostile owner. We are watching this very closely because whoever buys Anglo, if it is sold, will then be the owner of De Beers and De Beers is our strategic partner with whom we are at the tail end of our negotiations,” Masisi told reporters as he departed for the United States.



Botswana is a 15% shareholder in De Beers and accounts for 70% of the company&#8217;s annual rough diamond supply.



The renewal of the sales deal and mining rights for Botswana and De Beers&#8217; joint venture mining company, Debswana, is vital to the southern African country, which gets about 40% of its revenue, 75% of its foreign exchange earnings and a third of national output from diamonds.



“We have received some assurances and the reason for travelling is to go and get that first hand from the principals of Anglo and De Beers that they are committed to separating De Beers from Anglo before Anglo is sold, if it is sold,” Masisi said.



Botswana needs to finalise the deal with De Beers so that it can begin to benefit from the renegotiated terms agreed in June 2023, which include a higher allocation of rough diamonds from Debswana to the state-owned Okavango Diamond Company (ODC) and a $750 million investment by De Beers into other economic sectors over the next ten years.



(Reporting by Brian Benza; Editing by Nelson Banya and Mark Potter)

FILE PHOTO: Botswana’s President Masisi visits Switzerland

Botswana wants quick separation of De Beers from Anglo, president says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="533" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/KWU57PCES5KMPLXRN6DA4Y32LI-820x533.jpg" alt="" class="wp-image-490133" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/KWU57PCES5KMPLXRN6DA4Y32LI-820x533.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/KWU57PCES5KMPLXRN6DA4Y32LI-300x195.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/KWU57PCES5KMPLXRN6DA4Y32LI-139x90.jpg 139w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/KWU57PCES5KMPLXRN6DA4Y32LI-768x499.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/KWU57PCES5KMPLXRN6DA4Y32LI-1536x998.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/KWU57PCES5KMPLXRN6DA4Y32LI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A man walks past election posters of the ruling African National Congress (ANC), as South Africa prepares for the May 29 general elections, in Soweto, South Africa, May 24, 2024. REUTERS/Siphiwe Sibeko</figcaption></figure>



KWAMASHU, South Africa, May 29 (Reuters) &#8211; South Africans voted on Wednesday in the most competitive election since the end of apartheid, with opinion polls suggesting the African National Congress could lose its parliamentary majority after 30 years in government.



Queues formed in the main cities of Johannesburg, Cape Town and Durban as polling got underway around 7 a.m. (0500 GMT), with lines also seen in the morning cold in townships on the outskirts of cities and in rural areas.



&#8220;I grew up loving the ANC because of how they fought for the freedom we have today,&#8221; said business owner Skhumbuzo Mnyandu, 48, who came out to vote in KwaMashu, a township close to Durban. &#8220;That is why I voted for them all these years.&#8221;



&#8220;But this year, I have changed because of the problems with the ruling party, and so I have become a member of the MK party,&#8221; he said, referring to uMkhonto we Sizwe, a new party backed by former president Jacob Zuma.



Voters at polling stations across the country cited high rates of unemployment and crime, frequent power blackouts and corruption in ANC ranks as reasons why they would vote for opposition parties, but others were wary of change.



Pensioner Charles Louw, 62, said he would remain loyal to the ANC as he distrusted the promises made by opposition parties to create jobs, end power cuts or crack down on crime.



&#8220;The ANC have been trying to do it, they are there, they have got experience, they know how to accommodate everything. But the new parties, where will they start?&#8221; he said after voting in Alexandra, a sprawling township east of Johannesburg.



Then led by Nelson Mandela, the ANC swept to power in South Africa&#8217;s first multi-racial election in 1994 and has won a majority in national elections held every five years since then, though its share of the vote has gradually declined.



If it falls short of 50% this time, the ANC will have to make a deal with one or more smaller parties to govern &#8211; uncharted and potentially choppy waters for a young democracy that has so far been dominated by a single party.



Voters are electing provincial assemblies in each of the country&#8217;s nine provinces, and a new national parliament which will then choose the next president.



With the ANC still on course to win the largest share of the vote, its leader President Cyril Ramaphosa is likely to remain in office.



More than 27 million South Africans are registered to vote at more than 23,000 polling stations where voting will continue until 9 p.m. (1900 GMT).



&#8220;If early indications are anything to go by, we may match or just surpass the 66% voter turnout (seen in the last election in 2019),&#8221; said Masego Sheburi, a senior official at the electoral commission, at a briefing about six hours into the election.



Turnout has steadily fallen since the start of the democratic era and is one of the key variables this time.



The election appeared to be going smoothly in most places, with Sheburi saying 93% of polling stations had opened on time.



Reuters reporters witnessed isolated incidents, such as voters being turned away from a Johannesburg polling station because they were not registered to vote there, and in one Alexandra location voting was delayed for hours due to the late arrival of ballot papers.



<h2 class="wp-block-heading" id="h-most-consequential-election">&#8216;MOST CONSEQUENTIAL ELECTION&#8217;</h2>



After voting at a polling station in Soweto, a huge township outside Johannesburg, Ramaphosa said the ANC had run a strong campaign.



&#8220;I have no doubt whatsoever in my heart of hearts that the people will invest their confidence in the African National Congress,&#8221; he said.



John Steenhuisen, leader of the pro-business Democratic Alliance (DA) party which won the second-largest share of the vote in the last election in 2019, urged voters to turn out in large numbers to bring change to South Africa.



&#8220;This is the most consequential election since 1994,&#8221; he said after casting his ballot in Durban.



Other opposition parties hoping to loosen the ANC&#8217;s grip on power include the Economic Freedom Fighters (EFF), founded by Julius Malema, a firebrand former leader of the ANC&#8217;s youth wing. The EFF wants to nationalise mines and banks and seize land from white farmers to address racial and economic disparities.



&#8220;We see ourselves overtaking the ANC, not the DA. The DA is small boys. We have no time for small boys,&#8221; a typically combative Malema told reporters as he arrived to cast his ballot in Seshego, in the northern province of Limpopo.



&#8220;We&#8217;re going for the real giant, which is the ANC. We are in an election to remove the ANC,&#8221; he said. &#8220;We are here to take over government.&#8221;



Opinion polls suggest EFF support has been hovering between 10 and 12%, far short of the ANC on 37-44%, but Malema could find himself in position to be a kingmaker depending on the election results.



Zuma&#8217;s new MK party looks set to eat into both ANC and EFF support, especially in his home province of KwaZulu-Natal where he has enduring influence despite being forced to quit as president in 2018 after a string of scandals.



The election commission is expected to start releasing partial results within hours of polling stations closing and final results within three or four days at most.



(Additional reporting by Wendell Roelf, Tannur Anders, Nqobile Dludla, Anait Miridzhanian, Bhargav Acharya, Joe Bavier, Tim Cocks, Olivia Kumwenda, Bate Felix and Sfundo ParakozovWriting by Estelle Shirbon and Alexander WinningEditing by Gareth Jones, Andrew Heavens and Emelia Sithole-Matarise)

South Africa prepares for the May 29 general elections, in Soweto

South Africans vote in most competitive election since end of apartheid

Why this South African election is so pivotal

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="534" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/XBUX3KKTWRL4XAUGPJYRWVH7WQ-820x534.jpg" alt="" class="wp-image-491984" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/XBUX3KKTWRL4XAUGPJYRWVH7WQ-820x534.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/XBUX3KKTWRL4XAUGPJYRWVH7WQ-300x195.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/XBUX3KKTWRL4XAUGPJYRWVH7WQ-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/XBUX3KKTWRL4XAUGPJYRWVH7WQ-768x500.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/XBUX3KKTWRL4XAUGPJYRWVH7WQ-1536x1001.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/XBUX3KKTWRL4XAUGPJYRWVH7WQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



KIGALI, May 29 (Reuters)&nbsp;&#8211;&nbsp;Rwanda&#8217;s central bank cut its key interest rate&nbsp;RWREPO=ECI&nbsp;by 50 basis points to 7.0% on Wednesday, saying inflation was projected to remain within its target band at around 5% this year and next.



The rate cut followed two monetary policy meetings at which the Central Bank Rate was left unchanged.



In February, Governor John Rwangombwa said the bank could reduce the rate at upcoming meetings if inflation dynamics remained positive.



Annual inflation&nbsp;RWCPIY=ECI&nbsp;peaked at 21.7% in November 2022. It fell to 4.5% in April, well within policymakers&#8217; 2%-8% target range.



Rwangombwa told a news conference on Wednesday that risks to the inflation outlook included global geopolitical tensions that could affect international commodity prices and adverse weather conditions in Africa.



He said the economy continued to expand in the first quarter, helped by a strong performance by the agriculture, services and industry sectors.



This month Finance Minister Uzziel Ndagijimana reiterated the government&#8217;s economic growth forecasts of 6.6% this year, 6.5% in 2025, 6.8% a year later and 7.2% in 2027. The economy expanded 8.2% in 2023.



(Reporting by Philbert Girinema; Writing by George Obulutsa; Editing by Alexander Winning and Emelia Sithole-Matarise)

XBUX3KKTWRL4XAUGPJYRWVH7WQ

Rwanda central bank cuts key rate as inflation seen within target

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="515" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/E3QSTNRI5NLCHAEJURPRJHWWEI-820x515.jpg" alt="" class="wp-image-489417" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/E3QSTNRI5NLCHAEJURPRJHWWEI-820x515.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/E3QSTNRI5NLCHAEJURPRJHWWEI-300x188.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/E3QSTNRI5NLCHAEJURPRJHWWEI-143x90.jpg 143w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/E3QSTNRI5NLCHAEJURPRJHWWEI-768x482.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/E3QSTNRI5NLCHAEJURPRJHWWEI-1536x964.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/E3QSTNRI5NLCHAEJURPRJHWWEI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: FILE PHOTO: The Anglo American logo is seen in Rusternburg October 5, 2015. Picture taken October 5, 2015. REUTERS/Siphiwe Sibeko//File Photo</figcaption></figure>



LONDON/JOHANNESBURG/MELBOURNE, May 29 (Reuters)&nbsp;&#8211;&nbsp;Anglo American&nbsp;AAL.L&nbsp;on Wednesday rejected BHP Group&#8217;s&nbsp;BHP.AX&nbsp;last-ditch request for more time to discuss a $49 billion takeover offer, dismissing it as highly complex and likely ending a five-week pursuit by the bigger rival.



Anglo had granted BHP a one week extension until 1600 GMT on Wednesday to its original May 22 deadline to submit a binding offer, after rejecting a third takeover proposal that it dismissed as difficult to execute.



BHP still has until then to make a firm offer or walk away. It did not immediately respond to a request for comment, but has previously indicated it would not make a hostile bid.



BHP&#8217;s shares closed flat on Wednesday at A$45.08. Anglo&#8217;s were little changed at 0950 GMT.



London-listed Anglo agreed to hold talks with BHP to try to iron out concerns over the structure of the proposed deal, namely its condition that Anglo unbundle its South African platinum and iron ore units before the takeover.



In an earlier statement, BHP said it needed more time to engage with Anglo, while outlining commitments to minimise regulatory risk in South Africa.



Those commitments included job security for employees in South Africa. BHP also said it would shoulder the costs of increased South African employee ownership that is expected to be required in any demerger.



But Anglo signalled those commitments were not enough.



&#8220;BHP continues to restate its belief that the risks of its complex structure are not material, yet has repeatedly and consistently stated both publicly and during the engagements that it is unwilling to amend its proposed structure to assume these risks,&#8221; Anglo said in its statement.



Anglo was founded in Johannesburg in 1917 and employs more than 40,000 South Africans, so any withdrawal would be a further economic blow to the country whose miners have been cutting jobs and investment as platinum especially falls out of favour.



South Africans are voting in an election on Wednesday, with polls suggesting the African National Congress could lose its majority after 30 years in power, in part due to anger about high unemployment and a stagnant economy.



JP Morgan analysts have estimated a takeover of Anglo by BHP could lead to outflows of $4.3 billion from South Africa and weaken the rand.



&#8220;Today&#8217;s announcement says to me that BHP are doing all they can to placate any concerns Anglo&#8217;s board could have from a South Africa jobs, and regulatory point of view,&#8221; said analyst Hayden Bairstow of broker Argonaut in Perth about BHP&#8217;s request for more time.



However, a source close to Anglo&#8217;s thinking said its investors shared its reservations about BHP&#8217;s proposal.



&#8220;The majority of the Anglo shareholders fully understand the concerns that are being expressed and I don&#8217;t believe that they feel that the risks in the structure and the price are fully taken into consideration by BHP,&#8221; the source said.



BHP&#8217;s latest proposal values Anglo at 29.34 pounds per share or 38.6 billion pounds ($49 billion).



One person familiar with the situation said it was virtually impossible for BHP to put in an offer by Wednesday&#8217;s deadline and Anglo&#8217;s statement could effectively have killed the deal.



Buying Anglo would strengthen BHP&#8217;s position in copper and other metals central to the world&#8217;s clean energy shift. Anglo, meanwhile, has outlined its own plan to divest less profitable assets and focus on expanding copper output.



(Reporting by Clara Denina in London, Felix Njini in Johannesburg, Melanie Burton in Melbourne and Scott Murdoch in Sydney; Additional reporting by Amy-Jo Crowley, Sameer Manekar; Editing by Christopher Cushing and Mark Potter)

FILE PHOTO: BHP-Anglo American deal raises alarm in Japan’s steel industry

Anglo rejects BHP’s last-ditch attempt to continue takeover talks

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="512" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/IEOR3BGJSROL5KFMYTELQHZUDI-820x512.jpg" alt="" class="wp-image-491950" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/IEOR3BGJSROL5KFMYTELQHZUDI-820x512.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/IEOR3BGJSROL5KFMYTELQHZUDI-300x187.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/IEOR3BGJSROL5KFMYTELQHZUDI-144x90.jpg 144w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/IEOR3BGJSROL5KFMYTELQHZUDI-768x480.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/IEOR3BGJSROL5KFMYTELQHZUDI-1536x959.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/IEOR3BGJSROL5KFMYTELQHZUDI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: African Development Bank President Akinwumi Adesina addresses delegates during the Africa Climate Summit (ACS) 2023 at the Kenyatta International Convention Centre (KICC) in Nairobi, Kenya, September 5, 2023. REUTERS/Monicah Mwangi/file photo</figcaption></figure>



NAIROBI, May 29 (Reuters)&nbsp;&#8211;&nbsp;Africa&#8217;s economic growth is&nbsp;set&nbsp;to accelerate to 3.7% this year and 4.3%&nbsp;next&nbsp;from 3.1% in 2023, African Development Bank (AfDB) President Akinwumi Adesina said on Wednesday, expressing hope that the bank can boost infrastructure investment with IMF help.



&#8220;African economies are experiencing great resilience despite the challenges posed by climate change, geopolitical tensions, global inflation, rising debt, among others,&#8221; Adesina told the annual meeting of the bank.



In the past nine years the bank has&nbsp;invested over $50 billion in infrastructure projects on the continent, he said.



Adesina said two weeks ago that the International Monetary Fund had approved multilateral banks such as the AfDB lending against the Fund&#8217;s Special Drawing Rights (SDRs) monetary reserves.



SDRs are interest-bearing international reserve assets granted to IMF member countries in proportion to their shareholding.



&#8220;If the approved limit of $20 billion of the SDRs is channelled to multilateral development banks like us, we&nbsp;[the AfDB]&nbsp;can leverage this to deliver at least $80 billion of new financial support,&#8221; Adesina said.



The&nbsp;bank is helping to raise $3.2 billion for the East Africa standard gauge railway linking Tanzania, Democratic Republic of Congo and Burundi, he&nbsp;added.



It is also providing $500 million towards the development of the Lobito Corridor to connect Zambia, Angola and the Democratic Republic of Congo.



(Reporting by George Obulutsa; Editing by Bate Felix and Kevin Liffey)

Kenya to host first Africa Climate Summit in Nairobi

AfDB aims to boost infrastructure funding as African growth accelerates

Geneva, Switzerland, 29 May 2024&nbsp;– The latest&nbsp;<a href="https://www.weforum.org/publications/chief-economists-outlook-may-2024/">Chief Economists Outlook</a>&nbsp;released today presents a growing sense of cautious optimism about the global economy in 2024. More than eight in ten chief economists expect the global economy to either strengthen or remain stable this year – nearly double the proportion in the previous report. The share of those predicting a downturn in global conditions declined from 56% in January to 17%.



But geopolitical and domestic political tensions cloud the horizon. Some 97% of respondents anticipate that geopolitics will contribute to global economic volatility this year. A further 83% said domestic politics will be a source of volatility in 2024, a year when nearly half the world&#8217;s population is voting.



“The latest&nbsp;Chief Economists Outlook&nbsp;points to welcome but tentative signs of improvement in the global economic climate,” said Saadia Zahidi, Managing Director, World Economic Forum. “This underscores the increasingly complex landscape that leaders are navigating. There is an urgent need for policy-making that not only looks to revive the engines of the global economy but also seeks to put in place the foundations of more inclusive, sustainable and resilient growth.”



<h2 class="wp-block-heading" id="h-regional-variations">Regional variations</h2>



Growth expectations have improved, though unevenly, across the globe. The survey reveals a significant boost in the outlook for the United States, where nearly all chief economists (97%) now expect moderate to strong growth this year, up from 59% in January.



Asian economies also appear robust, with all respondents projecting at least moderate growth in the South Asia and East Asia and Pacific regions. Expectations for China are slightly less optimistic, with three-quarters expecting moderate growth and only 4% predicting strong growth this year.



By contrast, the outlook for Europe remains gloomy, with nearly 70% of economists predicting weak growth for the remainder of 2024. Other regions are expected to experience broadly moderate growth, with a slight improvement since the previous survey.



<figure class="wp-block-image"><img decoding="async" src="https://assets.weforum.org/editor/IO4DnivC687EtO1AJbeZmdy9rfqIjBXRQ96_ubSGNzk.jpg" alt=""/></figure>



<h2 class="wp-block-heading" id="h-a-challenging-landscape-for-decision-makers">A challenging landscape for decision-makers</h2>



The latest survey highlights the escalating challenges confronting businesses and policy-makers. Tensions between political and economic dynamics will be a growing challenge for decision-makers this year, according to 86% of respondents, while 79% expect heightened complexity to weigh on decision-making.



Among the factors expected to affect corporate decision-making are the overall health of the global economy (cited by 100%), monetary policy (86%), financial markets (86%), labour market conditions (79%), geopolitics (86%) and domestic politics (71%). Notably, 73% of economists believe that companies&#8217; growth objectives will drive decision-making, almost double the proportion that cited the role of companies’ environmental and social goals (37%).



<h2 class="wp-block-heading" id="h-long-term-prospects-and-priorities">Long-term prospects and priorities</h2>



Most chief economists are upbeat about the prospects for a sustained rebound in global growth, with nearly 70% expecting a return to 4% growth in the next five years (42% within three years). In high-income countries, they expect growth to be driven by technological transformation, artificial intelligence, and the green and energy transition. However, opinions are divided on the impact of these factors in low-income economies. There is greater consensus on the factors that will be a drag on growth, with geopolitics, domestic politics, debt levels, climate change and social polarization expected to dampen growth in both high- and low-income economies.



<figure class="wp-block-image"><img decoding="async" src="https://assets.weforum.org/editor/uWdP2yTU2GLztw6zgvz4DTLDRg5OYGH6P2vq8doEPvY.jpg" alt=""/></figure>



In terms of the policy levers most likely to foster growth in the next five years, the most important across the board are innovation, infrastructure development, monetary policy, and education and skills. Low-income economies are seen as having more to gain from interventions relating to institutions, social services and access to finance compared to high-income economies. There is a notable lack of consensus on the impact for growth of environmental and industrial policies.



<h2 class="wp-block-heading" id="h-about-the-chief-economists-outlook-report">About the Chief Economists Outlook Report</h2>



The&nbsp;<a href="https://www.weforum.org/publications/chief-economists-outlook-may-2024/">Chief Economist Outlook</a>&nbsp;builds on the latest policy development research as well as consultations and surveys with leading chief economists from both the public and private sectors, organized by the World Economic Forum’s Centre for the New Economy and Society. It aims to summarize the emerging contours of the current economic environment and identify priorities for further action by policy-makers and business leaders in response to the compounding shocks to the global economy. The survey featured in this briefing was conducted in April 2024.



The&nbsp;Chief Economists Outlook&nbsp;supports the World Economic Forum’s&nbsp;Future of Growth Initiative, a two-year campaign aimed at inspiring discussion and action on charting new pathways for economic growth and supporting policy-makers in balancing growth, innovation, inclusion, sustainability and resilience goals. Learn more about the&nbsp;Future of Growth Initiative&nbsp;<a href="https://initiatives.weforum.org/future-of-growth-initiative/home" target="_blank" rel="noreferrer noopener">here</a>.

006 Driving_Growth_alt

Chief Economists: The Economic Outlook Is Brightening But Political Risks Loom Large in 2024

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-820x461.jpeg" alt="" class="wp-image-491921" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107406138-1714028301272-gettyimages-1247341097-AFP_339P4DN.jpeg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The company logo adorns the side of the BHP gobal headquarters in Melbourne on February 21, 2023. &#8211; The Australian multinational, a leading producer of metallurgical coal, iron ore, nickel, copper and potash, said net profit slumped 32 percent year-on-year to 6.46 billion US dollars in the six months to December 31. (Photo by William WEST / AFP) (Photo by WILLIAM WEST/AFP via Getty Images) William West | Afp | Getty Images</figcaption></figure>



LONDON — BHP Group on Wednesday said it believes an extension to talks with takeover target Anglo American is necessary, as the deadline for discussions looms later in the session.



The Australian miner said in a statement that it had proposed a number of “socioeconomic measures” to address concerns over its bid, but added that more time was needed for discussions.



The offer values the company at £38.6 billion ($49.2 billion), according to previous Reuters calculations.



“BHP believes a further extension of the Deadline is required to allow for further engagement on its proposal,” it said in a statement.



The rival miners have until 5 p.m. London time Wednesday to reach an agreement following a week-long extension of last week’s deadline.



Anglo American told CNBC that it would respond to BHP’s request “in due course.”



BHP Group’s bumper takeover bid is part of an effort to create a copper mining juggernaut and capitalize on the base metal’s critical role in the green energy transition.



Anglo rejected BHP’s previous offers, saying they undervalued the company and its prospects.



The British miner has also raised concerns over demands for it to de-merge from two of its South African entities, which company Chairman Stuart Chambers previously said would create “substantial uncertainty” and executive risk for the company.



This is a breaking news story. Please check back from updates.

BHP Group wants extension to $49 billion Anglo American takeover talks as deadline looms

How The Toyota Tacoma Took On America’s Pickup Trucks

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420527-1716895336733-gettyimages-2154606751-cm1_5311_5trvbvmd-820x462.jpeg" alt="" class="wp-image-491655" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420527-1716895336733-gettyimages-2154606751-cm1_5311_5trvbvmd-820x462.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420527-1716895336733-gettyimages-2154606751-cm1_5311_5trvbvmd-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420527-1716895336733-gettyimages-2154606751-cm1_5311_5trvbvmd-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420527-1716895336733-gettyimages-2154606751-cm1_5311_5trvbvmd-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420527-1716895336733-gettyimages-2154606751-cm1_5311_5trvbvmd.jpeg 929w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">President of the ruling African National Congress (ANC) and South African President, Cyril Ramaphosa at a rally on May 25, 2024 in Johannesburg, South Africa.  Chris Mcgrath | Getty Images News | Getty Images</figcaption></figure>



Some 30 years on from the peaceful transition from apartheid rule to democracy, South Africa could once again be on the cusp of change.



Since coming to power in South Africa’s first democratic election in 1994, the African National Congress has focused on making inclusivity a core pillar of the country’s economy.



But its efforts to raise the living standards of the disadvantaged haven’t always been successful, and in Wednesday’s election, the dominance of the party is expected to wane.



Current polling suggests that the ANC, led by President Cyril Ramaphosa, could see its share of the vote fall below 50% for the first time.



While the party of Nelson Mandela had 57.5% support in the last national election, it was already edging close to losing its stronghold in key areas like the economic hub of the country, Gauteng.



Of the 62-million-strong population, more than 27.6 million South Africans are registered to vote. And turnout may be a worry as voter apathy rises.



At the last national assembly election in 2019, turnout was 66%, already 7 percentage points lower than the previous vote. Even with the highest possible voter turnout, the ANC’s result is expected to drop below 50%.



<h2 class="wp-block-heading" id="h-blackouts-unemployment-corruption-and-crime"><a></a>Blackouts, unemployment, corruption and crime</h2>



The issues facing the country are many and remain systemic.



Africa’s most industrialized nation has a weak power grid which has led to hundreds of hours of blackouts hampering development and manufacturing.



It is also battling an unemployment rate of almost 33% — among the highest in the world — anemic economic growth that may not reach 1% this year, and corruption scandals that have pointed to weaknesses in governance by the ANC and its affiliates.



In addition to this, the country has one of the highest violent crime rates in the world, with 45 murders for every 100,000 people.  



Voters also have much more choice this time around, with many more candidates to choose from.



Some 14,889 candidates will stand in contention for 887 seats across at least 70 parties.



While the incumbent Ramaphosa stands again, his biggest rivals include John Steenhuisen from Democratic Alliance and Julius Malema from Economic Freedom Fighters.



All face a familiar foe who could serve as king-maker in this election. Former President Jacob Zuma is currently leader of uMkhonto weSizwe, a political party only created in December 2023.



Zuma, who was sentenced to 15 months in prison for failing to appear at an inquiry into corruption, has recently won a court battle allowing him to run for parliament.



<h2 class="wp-block-heading"><a></a>‘Significantly adverse market reaction’</h2>



If polls are to be believed, the election results will see South Africa end up with its first coalition government.



Analysts from Fitch Solutions expect the ANC to form a coalition with smaller parties, “allowing it to remain the main policy driver.”



However they flagged a number of unexpected — but possible — outcomes that could be negatively received by markets.



“We continue to flag three alternative scenarios: the ANC scraping a slim majority, an ANC-Economic Freedom Fighters (EFF) coalition, or a win by the opposition coalition, the Multi-Party Charter,” the Fitch Solutions analysts wrote earlier this month.



“While any of the coalition groupings will pose headwinds to policymaking, negatively impacting investor sentiment, we flag that an ANC-EFF coalition would likely result in a significantly adverse market reaction, negatively impacting bond yields and the rand.”

107420527-1716895336733-gettyimages-2154606751-cm1_5311_5trvbvmd

South Africa prepares for pivotal election that could see ANC lose its grip on power

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420495-1716891456938-gettyimages-2151869385-ef_11330_laasronv-820x462.jpeg" alt="" class="wp-image-491637" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420495-1716891456938-gettyimages-2151869385-ef_11330_laasronv-820x462.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420495-1716891456938-gettyimages-2151869385-ef_11330_laasronv-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420495-1716891456938-gettyimages-2151869385-ef_11330_laasronv-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420495-1716891456938-gettyimages-2151869385-ef_11330_laasronv-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/107420495-1716891456938-gettyimages-2151869385-ef_11330_laasronv.jpeg 929w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Labour’s Shadow Chancellor of the Exchequer Rachel Reeves gives a speech on the British economy ahead of the Bank of England monetary policy release on May 07, 2024 in London, England. Dan Kitwood | Getty Images News | Getty Images</figcaption></figure>



LONDON — More than 100 business leaders on Tuesday voiced their support for the U.K.’s center-left opposition Labour Party, nearly five weeks before the country heads to the polls.



The group, which includes Wikipedia founder Jimmy Wales and former vice-chairman of JP Morgan Cazenove Charles Harman, said in an open letter to The Times newspaper: “We, as leaders and investors in British business, believe it is time for a change.”



The writers of the letter claim that the U.K. economy has suffered from a decade of stagnation amid a lack of both political stability and a long-term, consistent economic strategy. The country has been “denied the skills and infrastructure it needs to flourish,” the letter says.



The Labour Party has “shown it has changed and wants to work with business to achieve the UK’s full economic potential,” they said.



Signatories also include WPP’s U.K. President Karen Blackett, JD Sports and British Retail Consortium Chair Andrew Higginson, and the former CEOs of Tesco Bank and Heathrow Airport. Few current FTSE 250 chief executives appear on the list.



The right-wing Conservative Party has been in power since 2010, initially as part of a coalition with the smaller, centrist Liberal Democrat Party. The U.K. has had five prime ministers during that period.



The last U.K. general election was held in 2019 and resulted in a decisive victory for the Conservatives under former U.K. Prime Minister Boris Johnson, who resigned in 2022 following a series of controversies.



Political polls for the last two years have pointed to a likely Labour victory, despite the major turnover in the national vote that will be required.



Incumbent Prime Minister Rishi Sunak last week called a surprise election for July 4. In his speech and in comments to media, Sunak said his government had overseen a fall in inflation and a return to economic growth.



The U.K. economy expanded by 0.6% in the first quarter, after falling into a shallow recession last year.



Labour has placed a major focus on committing to fiscal discipline in the party’s campaign messaging. In a release Tuesday, Labour said its pledges include establishing a new publicly owned energy company and bringing train operators under public ownership.



Labour’s shadow finance minister and former banker Rachel Reeves, has meanwhile made a long-running effort to woo business and finance executives.



In a speech on Tuesday, Reeves said the Labour Party would cap corporation tax at its current level, work with the private sector to drive U.K. investment and publish a business tax roadmap within six months of taking power, the BBC reported.



Delivering his own speech on the campaign trail, Sunak said that Labour would not bring financial security to people, according to the BBC.



CNBC has contacted the Conservative Party for comment.

home

Why Copper Demand Is Skyrocketing

When will AI be smarter than humans?

South Africa’s divisive Malema could be post-election kingmaker

South African rand falls as election vote count gets underway

BHP walks away from $49 billion takeover offer for Anglo American

How much money the U.S. spends on war

Botswana wants quick separation of De Beers from Anglo, president says

South Africans vote in most competitive election since end of apartheid

Why this South African election is so pivotal

Rwanda central bank cuts key rate as inflation seen within target

Anglo rejects BHP’s last-ditch attempt to continue takeover talks

AfDB aims to boost infrastructure funding as African growth accelerates

Chief Economists: The Economic Outlook Is Brightening But Political Risks Loom Large in 2024

BHP Group wants extension to $49 billion Anglo American takeover talks as deadline looms

How The Toyota Tacoma Took On America’s Pickup Trucks

South Africa prepares for pivotal election that could see ANC lose its grip on power

More than 100 business leaders including Wikipedia’s Jimmy Wales sign open letter backing Britain’s center-left opposition

News Tips

Advertise With Us

home

Why Copper Demand Is Skyrocketing

When will AI be smarter than humans?

South Africa’s divisive Malema could be post-election kingmaker

South African rand falls as election vote count gets underway

BHP walks away from $49 billion takeover offer for Anglo American

How much money the U.S. spends on war

Botswana wants quick separation of De Beers from Anglo, president says

South Africans vote in most competitive election since end of apartheid

Why this South African election is so pivotal

Rwanda central bank cuts key rate as inflation seen within target

Anglo rejects BHP’s last-ditch attempt to continue takeover talks

AfDB aims to boost infrastructure funding as African growth accelerates

Chief Economists: The Economic Outlook Is Brightening But Political Risks Loom Large in 2024

BHP Group wants extension to $49 billion Anglo American takeover talks as deadline looms

How The Toyota Tacoma Took On America’s Pickup Trucks

South Africa prepares for pivotal election that could see ANC lose its grip on power

More than 100 business leaders including Wikipedia’s Jimmy Wales sign open letter backing Britain’s center-left opposition

News Tips

Advertise With Us

Newsletters