Business

A court in the Democratic Republic of Congo has temporarily removed control of a huge copper and cobalt mine from its Chinese owners. The court appointed a temporary administrator from state miner Gecamines to run China Molybdenum’s Tenke Fungurume mine amid a dispute between the shareholders over reserves of copper …

Mozambique’s publicly-owned Electricity Company (EDM) has signed a new contract to supply power to the Kingdom of Eswatini, local media reported. The contract will last for 17 months and provides for EDM to supply 20 megawatts of power, which could be revised depending on the needs of Eswatini Electricity Company …

Operator TotalEnergies has made a significant discovery of light oil and associated gas off the coast of Namibia, the company said on Thursday. Two sources earlier told Reuters about the large discovery in the Venus-X1 well, the second recent offshore discovery for the southern African country that has ambitions to …

A London court will on Wednesday begin to hear a lawsuit launched by Nigeria against U.S. bank JP Morgan Chase, claiming more than $1.7 billion for its role in a disputed 2011 oilfield deal, Reuters reports. The civil suit filed in the English courts in 2017 relates to the purchase …

Somalia’s President Mohamed Farmaajo has rejected an oil revenue sharing deal signed by the petroleum ministry and an American firm, the BBC reports. Coastline Exploration said it had signed seven deals related to offshore oil and gas exploration. “Somalia contains the largest remaining unexplored set of basins situated in warm …

The German government announced its plan to transfer hydrogen production technology to African countries amid its efforts to quit coal and nuclear energy on Wednesday, Reuters reports. Germany will have to import 40-60% of the hydrogen it needs for its energy transformation plans, the official said ahead of a meeting …

South African President Cyril Ramaphosa said on Thursday his government wants to expand its nascent domestic cannabis industry as it looks to tap global demand and grow local production and exports. Africa’s most industrialized nation plans to streamline the “regulatory processes so that the hemp and cannabis sector can thrive …

Thousands of Ghanaians took to the streets of the capital Accra on Thursday to demonstrate against a controversial government-sponsored electronic transaction tax bill. The parliament is yet to pass the bill, which introduces a 1.75% tax on all money transactions above 100 cedis ($15; £11). The majority leader Osei Kyei-Mensah-Bonsu …

TotalEnergies announced on Tuesday that it has reached a $10 billion investment deal with Uganda, Tanzania and its partner Chinese oil giant CNOOC in the controversial Ugandan oil exploration and export megaproject. This agreement, called Final Investment Decision (FID), was signed some sixteen years after the discovery of these reserves …

Authorities in Ghana have denied introducing a mandatory insurance scheme for all travellers arriving in the country through the country’s main airport, the BBC reports. The National Insurance Commission (NIC) said the scheme popularly known as “Akwaaba” had not been approved and any reports that it had should be disregarded. …