TotalEnergies stresses security concerns for Mozambique LNG

TotalEnergies has reiterated that its giant gas project in Mozambique will only resume when “peace and security” return to the Cabo Delgado region, following reports of a further delay.

Key mines drive surge in Zambia’s copper output

Zambia’s copper output increased by 12% in 2024, reaching roughly 820,670 metric tons, driven by a recovery in production at key mines such as Lumwana and Konkola Copper Mines.

S Africa’s Thungela selects De Beers executive Madondo as CEO

Thungela Resources has appointed De Beers executive Moses Madondo as its new CEO, succeeding July Ndlovu, who retires in August due to the company’s retirement policy.

Tunisian face gas shortages as cold weather grips the country

Tunisians in remote areas are facing severe natural gas shortages amid a cold snap, with shipping delays and increased demand exacerbating the issue.

President affirms no changes to LNG project terms in Mozambique

Mozambican President Daniel Chapo has stated that his government will not review contract terms with energy companies like TotalEnergies and ExxonMobil for planned LNG projects.

Nigeria’s oil reserves grow and output climbs amid theft crackdown

Nigeria’s oil reserves rose 1.45% in 2024, while crude output surged 26% due to reduced theft, though a production gap remains to meet 2025 targets.

Nigeria’s inflation surges for fourth consecutive month in December

The rise in inflation was primarily driven by higher demand linked to the festive season, with food and non-alcoholic beverages contributing significantly to the price increases

UAE signs trade agreements with Malaysia, Kenya, and New Zealand

The UAE-Malaysia agreement includes plans to explore investments in data centers and artificial intelligence, alongside opportunities in logistics, ports, food security, and pharmaceuticals

Ghanaians reeling after fire destroys largest used clothes market

Devastated traders in the West African nation of Ghana are seeking aid to rebuild the country’s largest second-hand clothing market. The Kantamanto Market in the capital Accra was ravaged by a fire on the night of Jan. 1 that reduced huge swaths of it to ashes and destroyed millions of used clothing items. According to a statement Sunday by the Ghana-based Or Foundation, nearly 8,900 stalls were destroyed and 10,000 people were directly affected. “15 million secondhand garments arrive from the Global North in Kantamanto Market every week, and the community of more than 30,000 people working in Kantamanto Market is responsible for recirculating 25 million pieces of second-hand clothing every month through resale, reuse, repair and remanufacturing. It’s a vibrant hub of creativity and a necessary alternative to fast fashion,” the charity said, emphasizing the market’s vital role. A representative of the Or Foundation confirmed to Anadolu on Monday that they were seeking donations to help rebuild the businesses. “This funding will be dispersed according to the expressed priorities of market leadership. Resources are needed to rebuild…Resources will be needed to keep individuals afloat physically, financially and spiritually,” the foundation said in the statement. It said that while it was not able to confirm actual financial losses, nearly 60% of the market was burnt to ground. Most of the items sold in the market came from the US, Canada and England. Although the reason behind the fire is still under investigation, rebuilding has begun, according to a report by the Ghana News Agency. Ghanian President John Mahama’s special aide and spokesperson Joyce Mogtari Bawah said the administration will “soon begin enhancing the market.” Former Trade and Industry Minister Alan Kyerematen was among those leading with donations to help the devastated businesses. Given the enormity of the damage caused by the fire, the All Traders Association at Kantamanto sought support from everyone. “Our doors are open for support to rebuild our market,” it said. People also called on big fast fashion brands to contribute to the market’s reconstruction. “Tens of millions of dollars were lost in equipment, bales of secondhand clothing, infrastructure and other supplies,” it said.  “The Kantamanto community spends over $300 million on bales every year, over half of which is paid to the Global North exporters.”

Dry weather threatens Ivory Coast’s cocoa mid-crop

Cocoa farmers in Ivory Coast are concerned about the impact of a persistent lack of rain on the upcoming mid-crop, which could lead to lower yields and poorer bean quality.

Gold seizure at Barrick mine escalates Mali-miner dispute

The Malian government has begun enforcing a provisional order to seize gold stock at Barrick Gold’s Loulo-Gounkoto mine, escalating a dispute between the miner and the government over a new mining code.

Italy’s ITA Airways returns to Tripoli after a decade

ITA Airways has resumed direct flights to Tripoli, Libya, marking the first such service by a major West European airline in 10 years due to the ongoing conflict in the country.

Zambia’s SEC penalizes Standard Chartered for bond mis-selling

Zambia’s Securities and Exchange Commission has sanctioned Standard Chartered for mis-selling Chinese property bonds to a local client, according to a source.

Ethiopia opens stock exchange to boost private investment

Ethiopia has launched a new securities exchange, a significant step in Prime Minister Abiy Ahmed’s efforts to liberalize the country’s economy.

Burhan’s currency exchange in Sudan excludes millions, critics say

Sudan’s introduction of new banknotes has bolstered the economy and supported the Burhan’s army war efforts, but it has excluded millions from the financial system, drawing criticism.

Morocco sees 17.4M tourists in 2024, 20% increase from 2023

Tourism, which contributes about 7% to Morocco’s GDP, remains a vital source of employment and foreign currency for the North African nation

Gemfields urges Zambia to lift 15% emerald export tax

Gemfields has called on Zambia to reverse the recently re-imposed 15% emerald export tax to prevent negative impacts on the sector’s sustainability and investment appeal.

Zambia’s kwacha plummets as drought strains economy

On Wednesday, the kwacha was trading at 27.95 per dollar, just above its latest record low of 28.05 on Tuesday

Chinese funding boosts Nigerian railway construction

China Development Bank has released a $254.76 million loan to Nigeria for the construction of a railway line connecting Kano and Kaduna, a crucial project under China’s Belt and Road Initiative.

Kwacha weakens as drought impacts Zambia’s economy

Despite emerging from default last year, Zambia’s kwacha faces significant challenges, dropping to record lows due to drought pressures.

Disney appoints new president for Africa region

Disney has appointed Tony Chambers as president of its Europe, Middle East, and Africa (EMEA) region, overseeing streaming, ad sales, and other key business areas.

Sudan reopens oil pipeline to South Sudan

Sudan has lifted a force majeure on oil exports from South Sudan to Port Sudan, enabling the resumption of oil flow after nearly a year of disruptions due to the ongoing conflict within the country.

Google agrees to pay $100M for Canadian news content

Online News Act stopped Google from pilfering content for free

Egypt’s tourism sector achieves record $14B in revenues

Egypt’s tourism industry has set a new benchmark, generating over $14 billion in revenue during the past eleven months—a 7.8% increase from previous records, according to Mubasher Pulse. The rise is attributed to a 3.97% increase in tourist arrivals, reaching 14.3 million, and a 7.8% growth in tourist overnight stays, totaling 151.3 million nights. Saudi Arabia emerged as a key contributor, with Saudi tourists spending around $1.5 billion and accounting for half of all Arab visitors. In total, 1.5 million Saudi tourists visited Egypt, further cementing the strong ties between the two nations. Germany, England, and Russia also ranked among the top sources of visitors. Experts predict continued growth in 2025, provided regional geopolitical conditions remain stable. Sameh Saad, a former advisor to Egypt’s tourism ministry, highlighted the sector’s consistent positive growth trajectory for a second consecutive year. Tourism remains a vital pillar of Egypt’s economy, expanding by 8.2% in the first quarter of the fiscal year 2024/2025 and contributing significantly to the nation’s 3.5% overall economic growth.

Apple to pay $95M to settle claims of Siri eavesdropping on customers

Apple has agreed to pay $95 million to settle a civil lawsuit that alleges the privacy-focused company used its virtual assistant Siri to eavesdrop on people using its iPhones and other popular devices. The proposed settlement, which was filed Tuesday in a federal court in Oakland, California, would resolve a five-year-old lawsuit alleging that Apple secretly activated Siri to record conversations for over a decade, CBS News reported Thursday. Apple is not acknowledging any wrongdoing in the settlement, which still requires approval from US District Judge Jeffrey White.  Lawyers involved in the case have proposed holding a court hearing in Oakland on Feb.14 to review the terms. If approved, the settlement would allow tens of millions of consumers who owned iPhones and other Apple devices between Sept. 17, 2014 and the end of last year to file claims. Each eligible consumer could receive up to $20 per Siri-enabled device covered by the settlement, though the payment amount may vary depending on the number of claims submitted. Court documents estimate that only 3% to 5% of eligible consumers are likely to file claims. ​​​​​​​Eligible consumers will be restricted to seeking compensation for a maximum of five devices.

Tullow oil wins ICC ruling, exempt from $320m tax in Ghana

Following an ICC ruling, Tullow Oil has avoided a $320 million tax bill on its Ghana operations.

Ivorian Cocoa smuggling to Guinea hits 50,000 tons in Q4 2024

The sharp rise in cocoa prices last year has provided an added incentive for smugglers

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