A $4 billion Chinese deal targeting a gold mining company in Mali is facing growing uncertainty as regulators in Beijing raise concerns over valuation and geopolitical risk. Chinese regulators are questioning a $4 billion acquisition of Mali-based gold miner Allied Gold by Zijin Gold International due to concerns over valuation and political risk. China’s National…
At a time when parts of the global luxury industry are grappling with weaker demand in China and cautious consumer spending, the company behind Cartier is moving in the opposite direction. Richemont is approaching a $123 billion valuation after more than doubling in value over the past five years. The Cartier owner is outperforming parts…
Spiro, widely regarded as Africa’s largest electric mobility company, has raised $215 million in a new investment round as it accelerates its expansion across the continent and moves closer to unicorn status. Spiro, Africa’s largest electric mobility company, has raised $215 million in new funding, bringing it closer to unicorn status. The investment will help…
The global aviation fuel market could be reshaped after Russia suspended jet fuel exports through November, creating a supply gap that could help Nigeria’s Dangote Refinery expand sales and strengthen its position in the market. Russia has suspended jet fuel exports through November, creating a significant supply gap in the global aviation fuel market. Nigeria’s…
The United Arab Emirates has emerged as Zimbabwe’s largest export destination, overtaking South Africa in a major shift that underscores the growing economic ties between Harare and the Gulf state. The United Arab Emirates has overtaken South Africa as Zimbabwe’s largest export destination, marking a significant shift in the country’s trade landscape. UAE-bound exports accounted…
The United States has secured long-term access to one of the world’s largest untapped rare earth deposits, a move that could reduce its future dependence on mineral-rich African nations as Washington races to build a critical minerals supply chain independent of China. The United States secured a 15-year deal to access rare earths from Greenland’s…
Aliko Dangote is positioning his petroleum refinery to expand its crude processing flexibility from around 40 crude types to as many as 130 different crude grades. Dangote’s refinery aims to increase its crude processing capability from 40 to 130 different crude grades. This expansion will double the refinery’s output to 1.4 million barrels per day,…
One of Africa’s largest industrial manufacturing economies, South Africa, saw its producer inflation soar by a margin not experienced in over a decade. South Africa’s producer inflation jumped to 3% in April, a 172.7% increase from the previous month, driven by higher fertilizer and energy costs. The surge was primarily due to disruptions in global…
Burkina Faso’s military government under Captain Ibrahim Traoré has suspended the country’s largest student union, deepening concerns over shrinking civic freedoms as authorities intensify efforts to silence dissent amid a worsening security crisis. Burkina Faso’s military government has suspended the country’s largest student union, UGEB, for three months, with possible renewal. The suspension was justified…
