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By Reuters Staff2 Min ReadJOHANNESBURG( Reuters)-Standard Chartered Bank said on Thursday it is providing$ 200 million in not-for-profit funding to the African Export-Import Bank’s( Afreximbank) COVID-19 vaccine procurement framework for Africa. The facility is part of Afreximbank’s Advance Procurement Commitment framework, under which it has provided a$ 2 billion guarantee to manufacturers to secure access to vaccine doses for African nations, Standard Chartered said in statement.“ The speed of

Companies Shell PLC Follow TotalEnergies SE Follow LONDON, Nov 2( Reuters)-Shell plans to drill two more wells in Namibia over the next 6 to 9 months with the energy giant citing" encouraging data" for the possible development of a new oil basin in the southern African country, CEO Wael Sawan said on Thursday. Shell plans to drill one exploration well, one appraisal well, and conduct one flow test at its exploration licences offshore Namibia, Sawan said in a call with analysts." There is a lot o

By Reuters Staff2 Min ReadGABORONE, Botswana( Reuters)-The Botswana energy regulator has granted a generation licence for a 100MW solar project to local firm Shumba Energy, a company executive said on Monday, making it the first independent power producer to set up a large scale solar plant in the country. Botswana does not currently have large scale solar power generation and its 600 MW national energy demand is met by state owned coal-fired plants and imports, primarily from South Africa and M

By Reuters Staff2 Min ReadLONDON( Reuters)-Africa-focused Moxico Resources is planning an initial public offering( IPO) of its shares in London within the next twelve months, two sources with direct knowledge of the matter said. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017.... REUTERS/ Toby Melville/ File Photo The UK-based company, run by ex-Rio Tinto executive Alan Davies, is developing its flagship Mimbula project in Zambia’s

ABUJA, Aug 25( Reuters)-Nigeria's annual economic growth rate slowed to 2.51% in the second quarter, data showed on Friday, hurt by a fall in oil production amid a series of reforms by new president Bola Tinubu aimed at reviving Africa's largest economy. The data, which marks the 11th consecutive quarter of growth, is the first release since Tinubu embarked on country's boldest reforms in decades to try to boost output which has been sluggish for several years." This growth rate is lower than th

ABUJA, Aug 25( Reuters)-Nigeria's annual economic growth rate slowed to 2.51% in the second quarter, data showed on Friday, hurt by a fall in oil production amid a series of reforms by new president Bola Tinubu aimed at reviving Africa's largest economy. The data, which marks the 11th consecutive quarter of growth, is the first release since Tinubu embarked on country's boldest reforms in decades to try to boost output which has been sluggish for several years." This growth rate is lower than th

HARARE, Nov 6( Reuters)-Zimbabwean miners, among the country's top export revenue earners, are likely to see profits drop almost 15% next year, with half expected to report a loss, according to a report released on Monday. The Southern African country is known for abundant deposits of platinum group metals( PGMs), gold and lithium.... But a confluence of global and local factors will eat into the mining industry's revenue and profit in 2024, the Mining Prospects for 2024 report by the Zimbabwe

By Pushkala Aripaka, Ludwig Burger3 Min Read( Reuters)-GSK’s board on Friday rejected Elliott’s demands that the British company change its board and sell its consumer healthcare arm after separating it from its pharma business, a day after strongly worded proposals from the activist investor. Slideshow( 2 images) “ The Board strongly believes Emma Walmsley is the right leader of New GSK and fully supports the actions being taken by her and the management team, ” GSK said on Friday, referring to

REUTERS/ Luc Gnago The world’s top cocoa producer is in its rainy season, which runs from April to mid-November when downpours are frequent. Cocoa production requires heavy rain with intervals of sunny spells for growing and drying the beans.... Others are worried crops will not fully dry without additional sunshine. Farmers on both sides of the debate, however, expect the harvest to build momentum through October, peaking from November to January as pods mature.... Authorities are due to set