Industry body South Africa Wine (SA Wine) has emphasised the importance of South Africa’s trade relationship with the US under the Africa Growth Opportunity Act (Agoa) trade regime, particularly since R798-million of wine exports were made to the US last year. South Africa exports R10.5-billion worth of wine every year to more than 125 countries [...]

Telecommunications group MTN Ghana has posted double-digit growth in earnings before interest, tax, depreciation and amortization (Ebitda), profit after tax, revenue and service revenue for the nine months to September 30, 2023. During the period under review, the company’s Ebitda increased 32.6% year-on-year to GHS5.4-billion, with a margin decline of 1.5 percentage points to 56% [...]

Eskom has warned that it is likely to report another R23-billion-plus loss for its current financial year to the end of March 2024, having belatedly confirmed a loss of R24-billion (R12-billion) for its 2022/23 financial year, during which loadshedding was implemented on a record 280 days. Acting CEO Calib Cassim confirmed the dismal outlook during [...]

Johannesburg- and Sydney-listed Orion Minerals has continued its transition to mine developer and operator at the Prieska Copper Zinc Mine in South Africa’s Northern Cape. The diversified base metals company, which is developing three complementary base metal production hubs in the Northern Cape, is prioritising the development of projects capable of meeting the growing demand [...]

Transnet National Ports Authority (TNPA) has published an expression of interest (EoI) document to determine market appetite for small- to medium-scale liquefied natural gas (LNG) imports through the ports of Durban, Cape Town, East London, Saldanha Bay and Mossel Bay. The EoI seeks to explore areas that include the market size, technologies, and overall operating [...]

Telecommunications group MTN Nigeria on Monday reported an 16.3% increase in earnings before interest, tax, depreciation and amortisation (Ebitda) to N907.9-billion during the nine months to September 30, 2023. During the nine month period, MTN Nigeria’s Ebitda margin decreased by 2.4 percentage points to 51.2%.

Full-year 2023 production guidance of London- and Johannesburg-listed diversified mining and marketing company Glencore remains largely in line with previous guidance. An exception is nickel, guidance for which has been reduced to reflect maintenance outages at the Sudbury smelter in Canada and a longer than expected recovery from 2022 strike action at Raglan in Canada, [...]

The price of both grades of unleaded petrol (93 and 95) will be lowered by R1.78 a litre on Wednesday, while diesel wholesale prices will be cut by between 82c and 85c depending on the sulphur content. The maximum national retail price of paraffin will fall by R1.30 a litre, but the maximum retail price [...]

South African Finance Minister Enoch Godongwana is in a bind as he reworks the nation’s budget in the face of lower-than-expected tax revenue and pressure from the ruling party to bolster government services ahead of next year’s crunch elections. While a commodity boom previously gave Godongwana some breathing space, recent metal price declines and rail [...]

German Chancellor Olaf Scholz said on Sunday his country was willing to invest in gas and critical minerals in Nigeria, Africa's largest oil producer, as he started a two-nation visit to sub-Saharan Africa. This is the third visit to the region by Scholz in two years and comes as conflicts elsewhere highlight the growing importance [...]

London Aim-listed Arc Minerals on Friday closed out a joint venture (JV) agreement with Anglo American in a deal worth $90-million. Parties have completed the subscription of shares in the JV company resulting in a 70% interest being acquired by Anglo American Exploration BV and a 30% interest acquired by Unico Minerals, a 67% Arc [...]

A significant decline in petrol and diesel prices is expected for November, according to unaudited data from the Central Energy Fund. The data suggests that the price of unleaded petrol 95 will decrease by R1.97 a litre, and R1.92 for unleaded 93 diesel is expected to decrease by around 78c cents a litre on Wednesday, [...]