East Africa

The Kremlin rowed back on Tuesday from earlier remarks describing Saudi Arabia as a. member of the BRICS group of nations, and exposed the. question of whether the kingdom would be represented at a BRICS. summit in Russia next week. Saudi Arabia has been invited to sign up with BRICS however has not yet. officially done so. Last week, however, Kremlin aide Yuri Ushakov. described it as a BRICS member and stated its foreign minister. would participate in the summit in the Russian city of Kazan. Asked to clarify Saudi Arabia's status in BRICS, Kremlin. spokesman Dmitry Peskov stated: The...

Japan's TOYO Co. Ltd on Monday stated it will develop a 2 gigawatt solar cell factory in Ethiopia that will provide dutyfree elements to a panel factory it is preparing in the United States. WHY IT is essential TOYO's investment in Hawassa, Ethiopia, comes amid growing concerns over new U.S. tariffs on photovoltaic panels from 4 Southeast Asian countries. TOYO currently produces its solar items in Vietnam, one of the nations subject to the responsibilities. KEY QUOTE We are enjoyed embark on this enthusiastic project, which will enable us to rapidly scale up solar cell production to meet the needs...

Saudi Crown Prince Mohammed bin Salman is not anticipated to participate in the Russianhosted BRICS top later this month, according to the Kremlin, which said the world's biggest oil exporter would be represented by the Kingdom's foreign minister. BRICS, originally Brazil, Russia, India and China, has broadened over the last few years to consist of South Africa, Egypt, Ethiopia, Iran, United Arab Emirates and Saudi Arabia. President Vladimir Putin's foreign policy assistant, Yuri Ushakov, said that nine of the 10 BRICS member states would send their leaders, though Saudi Arabia would send its foreign minister, Prince Faisal bin Farhan Al...

Kenya's federal government is close to agreeing a $1.5 billion loan from the United Arab Emirates with an interest rate of 8.2% which will help bridge the East African country's financing gap, a source knowledgeable about the situation told Reuters. Kenya is diversifying its sources of spending plan support, said the source, including the offer is as great as done. The UAE ministry of financing and the UAE central bank did not instantly react to a request for comment. Kenya's Financing Minister John Mbadi and other senior officials at the ministry were not immediately readily available for remark. The nation's...

World leaders on Tuesday stated that developing nations risk losing out on a push to triple the quantity of renewable resource worldwide without financial support from rich countries. Speaking at an International Renewables Summit held on the sidelines of the UN General Assembly, Kenyan President William Ruto alerted that while the technologies exist to achieve the goal set at the COP28 climate top in Dubai in 2015 to triple global renewable energy capacity by 2030, without investment and support, establishing nations will not gain the advantages of tidy electricity. Africa gets less than 50% of global investment in renewable energy...

Syrah Resources on Monday published a broader halfyear loss after its graphite production and sales plunged in the middle of a glut in significant market China. The Australian miner's half-year loss widened to A$ 67.1. million ($ 44.66 million) in the 6 months to June 30, from. A$ 38.6 million in the very same period a year previously. Its profits fell 33% to A$ 19 million. Graphite is a carbon-based material utilized in batteries and is. an essential part in electric automobiles. China accounts for more. than 70% of international supply of both natural, mined graphite and. the artificial range,...

Malaysian state-owned energy giant Petroliam Nasional > said on Monday its system had actually initiated procedures against South Sudan for supposedly obstructing a $1.25 billion sale of its regional possessions and instead taking over business. The company, likewise called Petronas, announced on Aug. 7 it would leave South Sudan after running operations in the nation for around 3 decades. It was in talks to sell the local properties to Britain's Savannah Energy, however the oil and gas company took out of the offer on the exact same day. South Sudan's state-run Nile Petroleum then took control of the local oilfield...

Malaysian state energy company Petroliam Nasional (Petronas) stated it will withdraw from South Sudan as it customizes its investment strategy to company conditions. The decision was made following a two-year duration of divestment initiatives in positioning with Petronas' long-term investment method amidst the changing market environment and accelerated energy shift, the firm stated in a statement late on Wednesday. Subsidiary Petronas Carigali Nile will deal with stakeholders to make sure a friendly shift, it stated. After the Petronas statement, Britain's Savannah Energy said it has actually taken out of a $1.25 billion purchase of Petronas's oil and gas business in...

A conflict in Namibia over access to diamondrich land around the town of Luderitz is now threatening to hinder significant energy tasks, state and business officials said as the federal government steps up efforts to solve the disagreement. Any lengthy delays may frighten financiers at an important time for Namibia, as it intends to accelerate its very first oil production following large offshore finds by TotalEnergies , Shell and Galp. At the heart of the discord are huge systems of desert land surrounding Luderitz and Elizabeth Bay, 25 kms south, that kind part of a mining licence held by Sperrgebiet...

A vengeance attack triggered by a cattle raid previously this month has actually eliminated a minimum of 17 individuals in northern South Sudan and required oil workers to evacuate from the Toma South oil field, a local authorities said on Monday. Livestock raiding connected to competition for limited resources is one of the main triggers of dispute in between ethnic groups in South Sudan, which is awash with weapons after decades of war. The combating started on Saturday in a Khat Elnar village in the Ruweng Administrative Area, where federal government officials were attempting to fix concerns over a previous...

A revenge attack set off by a cattle rob previously this month has actually killed a minimum of 17 individuals in northern South Sudan and forced oil employees to leave from the Toma South oil field, a local official said on Monday. Cattle raiding linked to competition for limited resources is among the primary triggers of dispute in between ethnic groups in South Sudan, which is awash with weapons after decades of war. The combating began on Saturday in a Khat Elnar town in the Ruweng Administrative Location, where federal government officials were trying to solve problems over a previous...

A Ugandan activist campaigning to stop the development of a $5 billion petroleum pipeline in east Africa by France's TotalEnergies and others has been detained by Uganda's military, the group he works for stated on Wednesday. Stephen Kwikiriza from the Ugandan environmental pressure group Environment Governance Institute (EGI) has been marketing to stop the East African Petroleum Pipeline (EACOP). The 1,445-km pipeline is to bring crude from oilfields in Uganda's west through Tanzania to a port on Tanzania's coast. The pipeline's opponents, including Human Rights Watch, say the task will displace numerous thousands of individuals, damage delicate communities and weaken...

Zimbabwe has softened its requirements for lithium miners to process the mineral locally, a government official stated on Thursday, as the industry fights to endure a rate downturn over the past year. Africa's top lithium producer, Zimbabwe had actually last year given manufacturers up to March 2024 to send plans of how they would produce battery-grade lithium in the impoverished southern African country. Prices of lithium, which is mainly utilized in battery technologies, have fallen more than 80% in the past year largely due to overproduction from China and a drop in need for electric lorries. The price collapse has...

Uganda has actually formed a. stateowned mining business to manage the federal government's equity. interests in mining operations, its minister for energy and. mineral advancement, Ruth Nankabirwa, said. All mining activities in the east African country have. previously been done by private firms after acquiring. exploration and mining licenses. Under a new mining law approved in 2022, the government can. compulsorily take a 15% free bring stake in all mining. operations in the country. The relocation is part of broader efforts to broaden Uganda's share. of the worth from its mineral wealth, following in the steps. of other African countries...

Zimbabwe's poor facilities and policy disparities are intensifying the effect of depressed lithium rates on producers of the material generally utilized in battery innovations, a Zimbabwean unit of China's Sinomine Resource Group said. Africa's top producer of lithium has brought in over $1. billion investment from Sinomine and its Chinese peers such as. Zhejiang Huayou Cobalt and Chengxin Lithium Group. given that 2021 as China looked for to maintain its grip on. critical metals. However, lithium rates have actually fallen dramatically from their 2022. peak as a wave of brand-new supply has actually overwhelmed weaker than. anticipated demand for electrical...

Tanzania's mining regulator has actually bought all mining companies and traders exporting gold to allocate at least 20% of the product for sale to the central bank to strengthen the bank's transfer to diversify its foreign reserves. The reserve bank of Tanzania (BoT) started purchasing gold from local traders and miners in the last fiscal year that ended in June to improve its reserves in the middle of depreciation pressure on the local currency, the shilling. In the 12 months to June, the central bank bought 418 kg of gold to boost its reserves and in the current financial year...

The following are the top stories in the Financial Times. Reuters has not confirmed these stories and does not attest their accuracy. Headings Keir Starmer to fulfill Donald Trump in New York City Thames Water credit score slashed as utility races to prevent nationalisation Anglo manager states possible suitors need to pay 'right number' for group UK accounting watchdog tells audit companies to report methods from personal equity Chevron will leave John Hess off its board to win merger approval Overview UK Prime Minister Keir Starmer stated he will meet Donald Trump, but not U.S. Vice President Kamala Harris, during...

Tanzania's primary opposition celebration has called for telecoms firm Tigo to react to a previous staff member's accusation that the company helped the government track the place of a challenger who was later on targeted in a. stopped working assassination effort. A former employee at Tigo's moms and dad company, Millicom,. told a British court this month that Tigo had shared mobile. phone information with the federal government revealing the area of. opposition lawmaker Tundu Lissu in the weeks before the attack. Lissu's vehicle was sprayed with bullets in September 2017 by. unidentified opponents, according to court filings seen ....

Tanzania's primary opposition party has actually required telecoms firm Tigo to react to a previous worker's allegation that the business helped the government track the area of an opponent who was later on targeted in a. failed assassination attempt. A previous worker at Tigo's moms and dad company, Millicom,. informed a British court this month that Tigo had actually shared mobile. phone information with the government revealing the location of. opposition lawmaker Tundu Lissu in the weeks before the attack. Lissu's car was sprayed with bullets in September 2017 by. unidentified foes, according to court filings seen . Tigo needs...

Madagascar's Ambatovy nickel project business filed a debt restructuring strategy with an English court in London on Wednesday, a spokesperson at the project's major investor Sumitomo Corp said. Sumitomo owns a 54.2% stake in the project business - Ambatovy Minerals, a mining company, and Dynatec Madagascar, a. refining business - while the staying stake is held by Korea. Mine Rehabilitation and Mineral Resources. The filing becomes part of their effort to make sure the steady and. efficient operation of the job, not a liquidation process,. the representative told Reuters. The representative did not offer information of the financial obligation. reorganizing...

Five Kenyan law enforcement officers were arraigned on Wednesday, implicated of assisting a presumed serial killer and 12 others leave from a police station in the capital Nairobi, court files revealed. Prosecutors asked the court to apprehend the policemen, who were on duty during Tuesday's jail break, for 2 weeks to permit officers to complete an investigation into their alleged participation. Prosecutors asked the court for more time to collect declarations, search CCTV video footage and take a look at the policemen's. phones. Among the escapees was Collins Jumaisi, jailed last month. over the murder of a minimum of 6...

A threeday strike at BHP's. massive Escondida copper mine in Chile was halted on Friday. after management and a large union reached an offer, the miner. stated, easing concerns about a hit to worldwide products of the. metal. The union, which represents about 2,400 individuals, began. striking on Tuesday at Escondida, the world's biggest copper. mine, after stopping working to reach an offer over pay. BHP stated the 2 sides reached a contract after resuming. talks. BHP and Union No. 1 have actually come to an agreement for a. cumulative agreement proposition. Together with that, it was agreed to. suspend...

Impala Platinum said on Wednesday it will report a basic loss of as much as 17.8 billion rand ($ 972.39 million) after suffering $1 billion of impairments due to the decline in the value of its properties on the back of plunging metal costs. Impala said in a trading upgrade that incomes for the year to June 30 had fallen due to lower profits occurring from a 34%. decrease in platinum group metal costs realised over the period. Standard earnings for the duration were affected by impairments. of 16.5 billion rand at Impala's flagship Rustenburg operations,. 1.6 billion rand at...

Zambia's proposed minerals policy law could hinder investment and provide a deadly blow to strategies to raise annual copper output to 3 million loads, 2 mining bodies said on Wednesday. Zambia's federal government has proposed a new Minerals Policy Commission Bill, which looks for to control and keep an eye on the advancement and management of mineral resources in Africa's. second-biggest copper manufacturer. However Zambia's Chamber of Mines (ZCM), the main mining. industry body, and the Association of Zambian Mineral. Expedition Companies (AZMEC) said in a joint declaration some. parts of the proposed law will drive up the perception of....