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How Google, Microsoft And Amazon Are Racing To Solve The AI Energy Crisis

The moment former Spice Girl Mel B realized she had to use her voice

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="960" height="640" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/A6RAHQABDRIGTJNVXZ2UH7TGEQ.avif" alt="" class="wp-image-590243"/><figcaption class="wp-element-caption">The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, January 30, 2020.REUTERS/Luc Gnago/File Photo</figcaption></figure>



The African Development Bank Group and Standard Bank Group have set up a R7.3 billion facility to drive the growth of small, medium and micro enterprises across the continent.



An agreement signed by the two institutions in Johannesburg includes investment in a R3.6 billion social bond targeted at SMMEs with turnover below R300 million and a $200 million Risk Participation Agreement under Standard Bank’s South African unit. Loan sizes will be capped at less than R40 million.



&#8220;This financing will support up to 4,000 businesses, helping them scale operations, create jobs, and contribute to economic resilience,’’ Kenny Fihla, Standard Bank Group Deputy Chief Executive Officer said. “With approximately 3.2 million SMMEs accounting for 60% of jobs, ensuring access to finance is crucial.”



South Africa’s economic growth has averaged around 1% in the past decade with access to finance for the small scale sector cited among the main reasons for the lacklustre growth. The government wants to boost growth to three percent by next year as it implements a slew of reforms including improving the ease of doing business in the country.



The African Development Bank said the agreement will help increase lending by sharing risk while bridging the trade finance gap and promoting intra-African trade, which remains among the lowest in the world below 20%.



‘’This collaboration marks a significant milestone in our long-standing partnership and is a testament to our shared commitment to supporting SMMEs’ growth and enhancing trade finance across Africa,’’ Leila Mokaddem, Director General for Southern Africa at the African Development Bank said in a statement. “Expanding financial inclusion and trade opportunities empowers businesses to drive economic transformation and regional integration.’’



She said the agreement aligns with the African Development Bank’s Ten-Year Strategy which prioritises industrialisation, regional integration, and improving the quality of life in Africa. It also supports Standard Bank’s Sustainable Finance Framework.

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Standard Bank, AfDB team up to Drive SMME growth

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_YRJ4HC4PYZMV5B3TRRZSVHPF7A-1.jpg" alt="" class="wp-image-590240" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_YRJ4HC4PYZMV5B3TRRZSVHPF7A-1.jpg 640w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_YRJ4HC4PYZMV5B3TRRZSVHPF7A-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_YRJ4HC4PYZMV5B3TRRZSVHPF7A-1-135x90.jpg 135w" sizes="auto, (max-width: 640px) 100vw, 640px" /><figcaption class="wp-element-caption">Roasted coffee beans are seen on display in Bogota, Colombia June 5, 2019. REUTERS/Luisa Gonzalez</figcaption></figure>



KAMPALA, Feb 24 (Reuters)&nbsp;&#8211;&nbsp;The value of Uganda&#8217;s coffee exports surged 83.4% in January, compared to the same month a year ago, boosted by high global prices of the commodity, the agriculture ministry said.



Uganda is Africa&#8217;s largest exporter of coffee, followed by Ethiopia.



The east African country shipped 550,341 60-kilogram bags of coffee worth $156.5 million, 83.4% higher than the value of volumes shipped in the same month last year, the ministry of agriculture, animal industry and fisheries (MAAIF) said in a report seen by Reuters on Monday.



In terms of quantity, January&#8217;s shipments were 14.4% higher than the volumes exported a year ago.



Global coffee prices have been driven higher by dry weather conditions in Brazil and Vietnam, MAAIF said.



(Reporting by Elias Biryabarema; Editing by Hereward Holland and David Evans)

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Value of Uganda’s coffee exports surge 83% in January on the year

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/ZVW7NKNERBPHZKW4NK6ZSJEQLM.avif" alt="" class="wp-image-590235"/><figcaption class="wp-element-caption">A general view of the cityscape of Addis Ababa, Ethiopia, April 24, 2024. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



ADDIS ABABA, Feb 24 (Reuters)&nbsp;&#8211;&nbsp;Ethiopia&#8217;s&nbsp;central bank said on Monday it was conducting a foreign exchange auction for $60 million, with the sale open to all banks.



In July 2024, Ethiopia&#8217;s central bank removed restrictions on the foreign currency market, a crucial step towards securing funding from the International Monetary Fund and making progress on a long-delayed debt overhaul.



The National Bank of Ethiopia said the auction was being held to offset what could become excessive money supply growth.



In December 2023, Ethiopia which is struggling with high inflation and chronic foreign currency shortages, became the third economy on the African continent in as many years to default on its debt.



(Reporting by Dawit Endeshaw; Writing by George Obulutsa; Editing by Andrew Cawthorne and Susan Fenton)

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Ethiopia central bank holds $60 million foreign exchange auction

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="768" height="593" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/Neema-Lugangira-1-1.jpg" alt="" class="wp-image-590216" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/Neema-Lugangira-1-1.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/Neema-Lugangira-1-1-300x232.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/Neema-Lugangira-1-1-117x90.jpg 117w" sizes="auto, (max-width: 768px) 100vw, 768px" /><figcaption class="wp-element-caption">Neema Lugangira, MP, Tanzania, and Ex-officio Lead Group member of the Scaling Up Nutrition (SUN) Movement </figcaption></figure>



For&nbsp;the first time, African countries have made nutrition a key focus of their continent-wide agricultural development strategy. The recent endorsement of the latest 10-year Comprehensive Africa Agriculture Development Programme (CAADP)&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://rr-africa.woah.org/app/uploads/2025/01/English-CAADP-Strategy-and-Action-Plan-2026-2035_250111_165547.pdf">Strategy and Action Plan</a>&nbsp;marks a significant shift in which food quality is prioritised alongside quantity to sustainably improve food production while also ensuring healthy diets.



Nutrition is central to all of the objectives of the Kampala Declaration. By addressing malnutrition in all of its forms, as well as its underlying drivers, societies are better equipped to cope with the risks of climate change and disasters, and the erosion of human capital that comes as a consequence of unhealthy diets.



However, each African country faces its own unique set of challenges, from barriers to agricultural production and climate variations to specific dietary and&nbsp;health&nbsp;concerns. In particular, the different manifestations of malnutrition across Africa, from undernutrition to overweight and&nbsp;obesity,&nbsp;mean that fulfilling the Kampala Declaration will&nbsp;require&nbsp;country-level&nbsp;strategies that address individual contexts as a whole-of-society endeavour.



Governments in every African country must therefore find their own ways to integrate nutrition across all relevant departments and ministries, which include&nbsp;health, agriculture, education, and economy. And there is no time to waste. With just two months until the&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://nutritionforgrowth.org/">Nutrition&nbsp;for&nbsp;Growth Summit</a>&nbsp;(N4G),&nbsp;a&nbsp;global&nbsp;event that fosters financial and political commitments, countries have a narrow window in which to set out their commitments and garner support from the international community.



New data mean parliamentarians across the continent now have a greater understanding of the scale of all forms of malnutrition in Africa alongside the cost of inaction. A staggering&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://www.unicef.org/reports/child-food-poverty">64 million children</a>&nbsp;under five years of age are estimated to live in severe food poverty. This results in inadequate nutrition or undernutrition, which inhibits physical and cognitive development, limiting children’s future productivity to just&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://openknowledge.worldbank.org/entities/publication/2c0b8b5e-0f67-47fe-9eae-d4707d9ed195">40%</a>&nbsp;of its potential and hampering Africa’s future development.



Beyond undernutrition, obesity – another form of malnutrition – is identified as an equally pressing challenge stalling progress in many African countries. Nearly a&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://openknowledge.fao.org/server/api/core/bitstreams/d5be2ffc-f191-411c-9fee-bb737411576d/content">third</a>&nbsp;of adults in Northern and Southern Africa are classified as obese, a trend linked to dietary shifts toward processed foods. Combined, all forms of malnutrition leave Africa’s entire population vulnerable to shocks, including climate extremes, poverty, and disease outbreaks. Integrating nutrition into all sectors can help governments future-proof communities against the impact of these shocks.



Moreover, the benefits of integrating nutrition into national strategies and budgets extend to human development and economic growth.&nbsp;For&nbsp;instance, a&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://openknowledge.worldbank.org/entities/publication/2c0b8b5e-0f67-47fe-9eae-d4707d9ed195">return</a>&nbsp;of up to $23 is expected&nbsp;for&nbsp;every dollar invested in addressing undernutrition in a typical African country. At the same time, investing in nutrition interventions supported by national policy actions to address the underlying causes and impacts of malnutrition would allow healthy growth and development of the population, which, in turn, increases a country’s productivity.



Tanzania’s National Nutrition Strategy is an inspiring&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://scalingupnutrition.org/resource-library/case-studies/case-study-leveraging-office-prime-minister-enhance-nutrition">example</a>&nbsp;of how integrating nutrition into national development agendas could help African leaders address the different forms and impacts of malnutrition. Under the leadership of H.E. President Samia Suluhu Hassan, Tanzania actively raised awareness about nutrition among parliamentarians and fostered partnerships with private and civil society actors.



This led to the development of the country’s National Nutrition Strategy, which established nutrition coordination committees and interventions across all regions, councils and sectors, leading to&nbsp;improvements in nutrition outcomes, particularly among women and children. As an early member of the&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://scalingupnutrition.org/">Scaling Up Nutrition Movement</a>&nbsp;in 2010, Tanzania has benefited from&nbsp;global&nbsp;networks that have helped build the capacities of local communities to implement effective nutrition interventions and sustain these efforts into the future.



Like Tanzania, other African countries must now focus their attention on how each can incorporate nutrition across all regions and sectors to deliver on the objectives of the CAADP Strategy and Action Plan.



The year ahead offers multiple opportunities, including South Africa’s&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://g20.org/g20-south-africa/g20-presidency/">Presidency of the G20</a>, to consolidate new commitments to tackling malnutrition at national levels. Alongside the&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://nutritionforgrowth.org/">Nutrition&nbsp;for&nbsp;Growth Summit</a>&nbsp;in March, the extension of the&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://www.who.int/teams/nutrition-and-food-safety/global-targets-2025">World&nbsp;Health&nbsp;Assembly&#8217;s targets on nutrition</a>&nbsp;to 2025 also provide critical moments&nbsp;for&nbsp;reinforcing the urgency of tackling malnutrition. The&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://scalingupnutrition.org/">Scaling Up Nutrition Movement</a>’s own&nbsp;Global&nbsp;Gathering at the end of the year will be an important moment to work on the implementation of commitments made at the Nutrition&nbsp;for&nbsp;Growth Summit, showcase country case studies and further galvanise support from the&nbsp;global&nbsp;community. All will be essential&nbsp;for&nbsp;driving investment into the special fund established under the CAADP Strategy and Action Plan to support nutrition-sensitive agricultural development.



By aligning national policies, budgets, and actions with the goals of the Kampala Declaration, African countries can foster well-nourished populations that are better equipped to adapt to climate change, improve economic productivity, and build more resilient societies. I am confident that the opportunities in 2025 will help to underpin the collective effort we need from all stakeholders—governments, the private sector, and civil societies alike.

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Africa’s renewed focus on nutrition will help build resilient and productive societies

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/thumbnail_image-1-820x547.png" alt="" class="wp-image-590211" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/thumbnail_image-1-820x547.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/thumbnail_image-1-300x200.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/thumbnail_image-1-135x90.png 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/thumbnail_image-1-768x512.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/thumbnail_image-1-1536x1024.png 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/thumbnail_image-1.png 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Mr. Godfrey Moagi, CEO of SANPC, Dr. Bongani Siyadini, COO of PASA, and Hon. Gwede Mantashe, Minister of Mineral Resources, at the SANPC presentation during AEW 2024.</figcaption></figure>



In a seismic shift poised to reshape South Africa’s energy sector, the South African National Petroleum Company (SANPC), a state-owned entity, has officially debuted, marking the beginning of a new chapter in South Africa’s energy transformation journey. At the helm of this transformation is CEO Godfrey Moagi, recently named the only South African on the African Energy Chamber’s (AEC) prestigious “Top 40 Movers and Shakers to Watch in 2025.”



The AEC’s annual list celebrates leaders who exemplify innovation, strategic vision, and tangible impact in Africa’s energy sector. Moagi’s inclusion reflects his alignment with the AEC’s core pillars: energy security, investment mobilization, and local empowerment. “The Top 40 list recognizes those driving Africa’s energy future through collaboration and transformative policies,” said NJ Ayuk, Executive Chairman of the AEC.



The SANPC’s debut at Africa Energy Week (AEW) 2024, held from 4-8 November in Cape Town, marked the first leg of the company’s Investor Roadshow Program, where it presented its bold vision to stakeholders across Africa, the Middle East, and Europe. The roadshow serves as a platform for forging strategic partnerships, promoting SANPC’s role in energy security, and positioning the company as a leader in Africa’s energy sector.



The SANPC merges three key historical entities in the industry: iGas, PetroSA, and the Strategic Fuel Fund (SFF). The merger, a strategic decision designed to unify and streamline South Africa’s energy resources, brings together vital infrastructure, expertise, and market opportunities under one roof. Moagi stresses that the consolidation will eliminate inefficiencies, optimize R1.5 billion in operational synergies, and unlock a R95 billion market opportunity critical for sustainable growth in an increasingly competitive global energy market.



At AEW 2024, the SANPC hosted a networking stakeholder breakfast session with Hon. Gwede Mantashe, Minister of Mineral and Petroleum Resources, affirming the company’s mandate. “SANPC represents a new era for South Africa&#8217;s energy landscape,” said Mantashe. “To improve operational efficiency within the Central Energy Fund (CEF) value chain and deliver shareholder value, we sought to minimize duplications that inhibit the Group from being a catalyst to reigniting the South African economy.”



South Africa faces significant energy security threats due to reliance on imports and reduced refining capacity. With imports already covering 65% of refined fuel needs, a figure projected to cost the economy R170–R174 billion annually by 2025, SANPC is prioritizing local infrastructure to stabilize supply chains. The country’s refining capacity has plummeted from 80% in 2010 to 35% in 2022, driven by aging infrastructure and underinvestment.



One of SANPC’s flagship projects under evaluation is the revitalization of the Gas-to-Liquids (GTL) refinery in Mossel Bay, a legacy asset currently non-operational due to feedstock shortages. The company is also assessing opportunities to convert shuttered refineries like Sapref into integrated petrochemical hubs, aligning with global trends to diversify into chemicals and offset volatile fuel margins.



Guided by the SANPC Bill, which empowers the company to streamline regulations and centralize import controls, SANPC aims to reverse import dependency. The Bill proposes tying fuel pricing to local refining costs, disincentivizing profit-driven import substitution by international oil companies.



Moagi’s regional vision aligns with the AEC’s emphasis on cross-border collaboration to address Africa’s energy deficits. At AEW 2024, he championed partnerships with Namibia in the shared Orange Basin, where joint development of offshore gas resources could benefit both nations. “By working together, we can close SADC’s projected 70% refining deficit by 2030 and create a unified, resilient energy sector,” Moagi remarked.



Globally, SANPC is leveraging partnerships with industry leaders like Petrobras to harness deepwater expertise while adhering to the AEC’s call for local capacity-building. “We look to Petrobras’s approach as a model for how we can harness South Africa’s offshore resources, especially in the Orange Basin,” Moagi noted.



In the wake of evolving global megatrends, SANPC will operate in an increasingly volatile, unpredictable, and disrupted world. South Africa’s fragile economy, with its urgent need for state-owned enterprises (SOEs) to drive infrastructure and industrial growth, underscores SANPC’s role as a catalyst for structural reform along the energy value chain.



“We are open to learning from global leaders, but our primary goal is to create a sector that serves South Africa’s people and strengthens our economy,” Moagi emphasized.



In May 2025, SANPC will participate in the Invest in African Energy (IAE) Forum in Paris, where Moagi will engage with global investors under the theme: “Pioneering Africa&#8217;s Energy Boom: Strategic Investment for Maximum Returns.”



“We are working toward a future where Africa is a net energy exporter, and SANPC is at the forefront of this transformation,” Moagi concludes. As SANPC advances an integrated energy future, it will address South Africa&#8217;s energy challenges, foster regional growth, and solidify its place as a cornerstone of Africa’s energy renaissance.

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SANPC CEO Godfrey Moagi Named as the Only South African on Africa’s Top 40 Energy Leaders List 2025

David Beckham reflects on what made him successful on and off the pitch

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="447" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/EZE77FVNOZJDZBIVDI2UJD5UNM-1.avif" alt="" class="wp-image-590203"/><figcaption class="wp-element-caption">A drone view shows South Africa&#8217;s Sasol petrochemical refinery in Sasolburg, southwest of Johannesburg, South Africa, November 19, 2024. REUTERS/Thando Hlophe/File Photo</figcaption></figure>



Feb 24 (Reuters)&nbsp;&#8211;&nbsp;South African petrochemical firm Sasol&nbsp;SOLJ.Jis exiting the coal export market as it starts a de-stoning project to enhance the quality of feedstock into its core synthetic fuel and chemicals business, executives said on Monday.



Sasol produces fuel and chemicals from coal and gas, while exporting about 2 million tons of the fossil fuel annually.



However, the quality of the coal going into Sasol&#8217;s Secunda operations has been poor for years, mainly due to high stone content. This has resulted in the company producing low volumes of fuels and chemicals, persistently underperforming historical output levels around 7.6 million tons.



The company is repurposing its current coal export plant into one which reduces stone content to address the quality problem, CEO Simon Baloyi said during a results call.



The quality of the coal coming out of its mines &#8220;was no longer export quality&#8221;, Baloyi said, adding that the de-stoning project would restore fuel and chemical production to historical levels.



&#8220;We make more money by beneficiating coal into fuel and chemicals than we do selling it as export coal,&#8221; Sasol&#8217;s finance director Walt Bruns told Reuters in an interview.



Sasol will lease its allotted coal export quota at the Richards Bay Coal Terminal to other miners, Bruns added.



Earlier on Monday, Sasol reported a 31% decline in headline earnings per share to 14.13 rand ($0.7712)in the six months to December 2024, from 20.37 rand per share previously&nbsp;on a fall in oil prices and lower sales volumes.



The company said it did not declare a dividend because it ended the period with a negative free cash flow of 1.1 billion rand, while its net debt of $4.3 billion exceeded levels set in its capital allocation policy.



($1 = 18.3223 rand)



(Reporting by Nelson Banya; Editing by Sonali Paul, Tom Hogue and Chizu Nomiyama)

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Sasol exits coal export market, focuses on quality upgrade

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-590139" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/02/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Feb 24 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Monday.



ECONOMIC EVENTS



South African Treasury bill auction



Foreigners&#8217; trading in South African bonds and equities



COMPANIES



Sasol skips dividend after profit declines 31%



Prosus to buy Just Eat Takeaway.com, to create a European food delivery firm



SOUTH AFRICAN MARKETS



South Africa&#8217;s rand was stable on Friday after a volatile week in which it weakened over the last-minute postponement of the national budget but then recovered thanks to buoyant global gold price.



On the stock market, the Top-40&nbsp;.JTOPI&nbsp;index was little changed.&nbsp;.JZAR/



GLOBAL MARKETS



European shares and the euro climbed on Monday as Germany&#8217;s election produced a mainstream outcome, while Wall Street futures firmed on hopes results from AI diva Nvidia this week would justify the tech sector&#8217;s sky-high valuations.&nbsp;MKTS/GLOB



WALL STREET



U.S. stocks tumbled on Friday, extending their selloff in the wake of dour economic reports and closing the book on a holiday-shortened week fraught with new tariff threats and worries of softening consumer demand.&nbsp;.N



GOLD



Gold prices edged up to hover near recent record highs on Monday, helped by weakness in the U.S. dollar, with attention shifting to a key U.S. inflation report set for release later this week.&nbsp;GOL/



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



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



BUSINESS DAY



&#8211; Treasury optimistic SA will be off greylist by October



FIN 24



&#8211; Load shedding downgraded to Stage 4 until further notice



&#8211; SA must push neighbours for better customs deal, says PwC



(Compiled by Sfundo Parakozov)

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South African Markets – Factors to watch on February 24

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="439" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/VDGM6XKHK5NGFAIOBJ6DXGAHQU.avif" alt="" class="wp-image-590136"/><figcaption class="wp-element-caption">A South African Rand is seen in this illustration picture taken November 5, 2020. REUTERS/Mike Hutchings/Illustration/File Photo</figcaption></figure>



JOHANNESBURG, Feb 24 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand strengthened on Monday, ahead of a flurry of local data this week which will give traders clarity on the state of Africa&#8217;s most industrialised economy.



At 0748 GMT, the rand traded at 18.39 against the dollar&nbsp;ZAR=D3, 0.3% firmer than its previous close.



Domestic investors will focus on South Africa&#8217;s monthly consumer inflation reading on Wednesday, producer inflation figures on Thursday and trade and budget balance data on Friday.



The dollar =USD was last around 0.1% weaker against a basket of other major currencies with traders digesting last week&#8217;s dour U.S. economic releases and President Donald Trump&#8217;s fresh tariff threats.



&#8220;On the one hand, the USD is losing some ground and will support the ZAR. On the other hand, a tremendous amount of data will keep investors cautious about taking any significant directional position,&#8221; ETM Analytics said in a research note.



On the stock market, the Top-40&nbsp;.JTOPI&nbsp;index was down about 0.7%.



South Africa&#8217;s benchmark 2030 government bond&nbsp;ZAR2030=&nbsp;was marginally stronger, with the yield down 0.5 basis point to 9.165%.



(Reporting by Sfundo Parakozov, Editing by Bhargav Acharya, Kirsten Donovan)

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South African rand firms ahead of data-packed week

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="378" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/TBRVY76TJVLNPFA532BZK3H3YQ.avif" alt="" class="wp-image-590133"/><figcaption class="wp-element-caption">A pit head is seen at the Tumela platinum mine, an Anglo-American open pit mine located in Thabazimbi, Limpopo Province, South Africa June 9, 2016. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



Feb 24 (Reuters)&nbsp;&#8211;&nbsp;Anglo American Platinum&nbsp;AMSJ.J&nbsp;said it had halted operations at its Tumela mine in South Africa on Thursday after excessive rains caused flooding, though the company maintained its production forecast for the year.



The world&#8217;s top producer of platinum group metals (PGM) used to curb vehicle emissions said in a statement that heavy rains in the northern part of South Africa over the past week had caused widespread flooding.



Tumela mine, the smaller underground operation in Amplats&#8217; Amandelbult complex, was the most impacted, it said.



Operations in the rest of the complex, including the main Dishaba mine, the concentrator and other infrastructure, were largely unaffected and operations there had resumed on Monday after a temporary pause.



A detailed impact assessment and recovery plan to ensure safe production at Tumela mine, which produces about 10% of Amplats&#8217; monthly metal-in-concentrate, was under way.



&#8220;Preliminary indications are that the 2025 metal-in-



concentrate production guidance of 3 million to 3.4 million PGM ounces is not expected to be impacted,&#8221; Amplats said.



Amplats on February 17 reported a 40% decline in profit for 2024 to 8.4 billion rand ($458.56 million) as lower PGM prices continue to hurt its income.



($1 = 18.3184 rand)



(Reporting by Nelson Banya; Editing by Aidan Lewis)

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Amplats halts operations at South African mine after heavy rains

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="402" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/PX47AV3OGVODBAQQ2I46RGINQA.avif" alt="" class="wp-image-590112"/><figcaption class="wp-element-caption">Prosus&#8217; logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration/File Photo&nbsp;</figcaption></figure>



JOHANNESBURG, Feb 24 (Reuters)&nbsp;&#8211;&nbsp;Dutch technology investor Prosus&nbsp;PRX.AS&nbsp;has agreed to buy Just Eat Takewaway.com&nbsp;TKWY.AS&nbsp;for 4.1 billion euros ($4.3 billion) to create a &#8220;European tech champion&#8221; of food delivery.



Prosus, majority owned by South Africa&#8217;s Naspers&nbsp;NPNJn.J, is also the biggest shareholder in Glovo owner Delivery Hero&nbsp;DHER.DE&nbsp;with a 28% stake, it said in a statement on Monday.



The deal would mark a significant shift in the European food delivery market and have potential global implications, as it would make Prosus the fourth largest food delivery company in the world behind Meituan&nbsp;3690.HK, DoorDash&nbsp;DASH.O&nbsp;and Uber&nbsp;UBER.N, ING analysts said in a note.



With a food business spanning more than 70 countries, Prosus also owns Latin America&#8217;s top food delivery platform iFood, has a 25% stake in India&#8217;s leading food and grocery delivery platform Swiggy and a 4% stake in Meituan, it said.



Shares in Prosus fell 6% in Amsterdam after the announcement, while Just Eat surged 55% to match the premium of the offer price. Naspers&#8217; shares fell 6.3% in Johannesburg.



Prosus is offering 20.30 euros per a Just Eat share. The offer for the entire share capital is unanimously supported by Just Eat&#8217;s management and supervisory board.



Shares in Delivery Hero jumped 5%. A German trader said some analysts were seeing the deal as a first step towards a merger between the Dutch and German food delivery groups.



Prosus CEO Fabricio Bloisi said there was no plan or project on Delivery Hero right now.



&#8220;Our focus is growth and with growth we expect to create more jobs in many dimensions. More jobs in technology sector but also more jobs in restaurants and more opportunities for drivers too,&#8221; he told reporters in a call, referring to Just Eat.



Bloisi added that the new technology investment, including AI, would be aimed at making Just Eat&#8217;s delivery model more efficient.



&#8220;We are not looking forward to other big news in food delivery or acquisitions right now,&#8221; he said.



Citi analysts estimated that Prosus has some $5 billion to invest in further M&amp;A, though they expect the near term focus to be on execution and growth in its owned assets.



Just Eat&#8217;s management will remain in place and the company will stay based in Amsterdam, its CEO Jitse Groen said in a separate media call.



Earlier on Monday, Just Eat reported 36% growth in its 2024 core profit.



($1 = 0.9513 euros)



(Reporting by Nqobile Dludla in Johannesburg and Leo Marchandon in Gdansk, additional reporting by Paolo Laudani and Toby Sterling; Editing by Tom Hogue and Milla Nissi)

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Prosus to buy Just Eat to create a European food delivery ‘champion’

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="447" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/EZE77FVNOZJDZBIVDI2UJD5UNM.avif" alt="" class="wp-image-590109"/><figcaption class="wp-element-caption">A drone view shows South Africa&#8217;s Sasol petrochemical refinery in Sasolburg, southwest of Johannesburg, South Africa, November 19, 2024. REUTERS/Thando Hlophe/File Photo</figcaption></figure>



Feb 24 (Reuters)&nbsp;&#8211;&nbsp;South African petrochemical firm Sasol&nbsp;SOLJ.J&nbsp;on Monday skipped paying a dividend after reporting a 31% decline in half-year profit on a fall in oil prices and lower sales volumes.



Sasol&#8217;s headline earnings per share for the six months to December 2024 were 14.13 rand ($0.7712), down from 20.37 rand during the same period a year earlier.



The company, which produces fuel and chemicals from coal and gas, said its revenue was 10% lower at 122.1 billion rand, mainly due to a 13% drop in the average rand price per barrel of Brent crude oil and a significant decline in refining margins.



Sasol also reported a 5% decrease in sales volumes as a result of lower production and lower market demand.



The company said it did not declare a dividend because it ended the period with a negative free cash flow of 1.1 billion rand, while its net debt of $4.3 billion exceeded levels set in its capital allocation policy.



($1 = 18.3223 rand)



(Reporting by Nelson Banya; Editing by Sonali Paul and Tom Hogue)

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Sasol skips dividend after profit declines 31%

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="385" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/02/V3GAS2DKHFO7PLO4JIKEEFCTKY.avif" alt="" class="wp-image-590106"/><figcaption class="wp-element-caption">The retired coal-fired Komati Power Station, operated by Eskom, is seen near Komati village, in the Mpumalanga province in South Africa, May 9, 2024. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



CAPE TOWN, Feb 24 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s Eskom has managed to restore eight units at power plants after implementing its highest stage of controlled power cuts early on Sunday, the power utility said after multiple failures at Majuba and Camden power stations over the weekend.



On Saturday, Eskom applied Stage 3 power cuts, known locally as loadshedding, effectively cutting 3,000 megawatts to the national grid.



&#8220;Of the 10 units that we lost overnight, we have essentially returned six units,&#8221; Eskom group CEO Dan Marokane told reporters on Sunday.



He said five to six units were expected to become operational during the course of the day, bolstering the 3,200 MW of capacity recovered overnight.



&#8220;We anticipate to get out of this stage by the end of the week,&#8221; he said, adding that given the pace of recovery Eskom would consider dialling down its power cuts by Monday.



Early on Monday morning, Eskom said the power outages would be reduced to Stage 4 until further notice.



Regular breakdowns at Eskom&#8217;s fleet of ageing coal-fired plants, providing the bulk of electricity in Africa&#8217;s most industrialised economy, are often the cause of loadshedding &#8211; an incremental system where Stage 1 sees 1,000 MW cut from the system, with Stage 6 the highest implemented to date.



(Reporting by Wendell Roelf; Editing by William Mallard, Tomasz Janowski and Rashmi Aich)

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