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News
1 million women in Africa’s war-torn nation hold gold worth nearly $3 billion, now a bank wants to use it as collateral
2+ day, 10+ hour ago (519+ words) Somalia is turning to an unusual store of household wealth to widen access to finance, with MyBank, the nation’s sixth-biggest lender launching a service that allows women to use verified gold jewellery as collateral for financing. The lender estimates that…...
China buys Angolan and Congolese oil as Iran war triggers scramble for more than 20 million barrels
2+ day, 10+ hour ago (659+ words) Chinese independent refiners have turned to Angola and the Republic of Congo for crude oil as the war involving Iran disrupts supplies from the Middle East and intensifies competition for alternatives. The refiners have purchased at least two cargoes of…...
Morocco, Egypt and Algeria drive record Argentine corn exports as Ukraine loses access to major ports
2+ day, 16+ hour ago (318+ words) Morocco’s imports of Argentine corn have increased 133% as North African buyers turn away from Ukrainian supplies disrupted by Russian attacks and transport problems. Argentina’s corn shipments to North Africa rose 45% year on year to 6.5 million tonnes during the first seven…...
French oil giant finds new oil in Angola, secures stakes in 2 new exploration blocks
2+ day, 14+ hour ago (411+ words) French energy giant TotalEnergies has announced a new oil discovery in Angola and signed agreements to acquire a 40% operated interest in two additional exploration blocks as it expands its operations in the country. The company said the new Acacia-5 discovery…...
TotalEnergies and partners plan $10 billion Angola investment to protect 450,000-barrel daily output
2+ day, 17+ hour ago (338+ words) TotalEnergies and its partners plan to invest $10 billion in Angola over the next five years as the Southern African country struggles to maintain production from its ageing offshore oilfields. Patrick Pouyanné, TotalEnergies’ chairman and chief executive, announced the investment programme…...
Singapore refiner looks to West Africa and Latin America for crude as Iran war disrupts Middle East supplies
2+ day, 18+ hour ago (340+ words) Singapore refiner Aster Chemicals and Energy is turning to crude oil suppliers in West Africa, Latin America, the US and Canada as the Iran war disrupts Middle Eastern oil supplies to Asia. The refinery previously sourced about 70% of its crude…...
India’s largest sustainable critical minerals producer ships first lithium ore from Zimbabwe, secures 10 blocks with an estimated $7 billion lithium deposit
2+ day, 23+ hour ago (285+ words) India’s Lohum has shipped its first consignment of lithium ore from Zimbabwe, marking the start of its mining operations in the southern African country and making it the first Indian company to produce lithium from overseas assets. The move gives…...
World’s strongest military boosts a powerful African royal force with 10 U.S. HIMARS capable of destroying artillery and missile launchers
3+ day, 8+ hour ago (324+ words) A recent report has revealed that 10 High Mobility Artillery Rocket Systems (HIMARS) destined for Morocco have officially entered the U.S. military's upcoming logistics schedule. The report explained that a draft procurement document from the U.S. Army reveals that ten M142 HIMARS launchers are…...
Gap taps a new exec to find its next act beyond fashion
3+ day, 7+ hour ago (528+ words) Gap Inc. wants to be in the middle of the cultural conversation and just tapped a new exec to grow its business beyond clothes. Gap has hired Jamie Drew as its new head of strategic partnerships and growth, reporting to…...
US moves to beat China to Africa’s critical minerals with plans to develop a major processing industry within East Africa’s largest economy
3+ day, 7+ hour ago (684+ words) The United States has formally expressed its intent to actively participate in the development of Kenya’s critical mineral sector. According to a senior American official, the United States is keen on helping Kenya develop a critical minerals processing industry, as…...