Here’s what’s been making the business headlines in sub-Saharan Africa this week.
Anglo American is exploring an IPO for its diamonds business De Beers, two people familiar with the matter have said on a condition of anonymity.
Anglo, which has been synonymous with South African mining for decades, set out plans for a potential break-up of some of its assets on Tuesday (May 14), as it fights off a $43 billion takeover bid from BHP.
Shell said on Thursday (May 16) that it had extinguished a fire at its Gbaran Ubie gas facility in Nigeria’s coastal Bayelsa state.
The blaze broke out two days earlier at what is by far the most important Nigerian LNG feedstock project, processing two billion standard cubic feet of gas per day.
Zambia’s central bank raised its main lending right for the sixth consecutive policy meeting on Wednesday (May 15) citing a continued rise in inflation and inflation expectations.
Inflation has been rising in Zambia since the middle of last year and reached 13.8% in April – driven by a weak kwacha and the worst drought in the region in decades.
Uganda’s President Yoweri Museveni was in Nairobi for the signing of various bilateral agreements alongside Kenya’s President William Ruto.
That’s after a row between the two neighbours was resolved when Kenya allowed landlocked Uganda’s state oil firm to import petroleum products through its port of Mombasa.
Ruto said Thursday’s signing of a tripartite agreement would enable Uganda National Oil Company Limited to import directly from different jurisdictions…
“thus bringing to an end the challenges faced by the sector in Uganda.”
Finally, Dubai’s Emirates Airline has said it will resume flight schedules to Nigeria from October.
Flights were suspended in 2022 after the carrier was unable to repatriate funds amid foreign currency shortages in Nigeria.
