Bloomberg

2024-05-03 15:20:00 Drought to deluge: East Africa is bracing for more deadly floods, as torrential rain after years of biting drought deliver a brutal reminder of the threat posed by extreme weather brought about by climate change. https://bloom.bg/3QtG5ti

Mining antitrust: BHP’s bid for Anglo American stands to reshape the global mining industry if it succeeds, and antitrust authorities from China to South Africa are likely to play as important a role as shareholders in deciding the final outcome. https://bloom.bg/3QvcRu3

Lights on: South Africa is enjoying a rare streak of uninterrupted electricity right before elections, drawing more suspicion than praise in a nation accustomed to daily power cuts. https://bloom.bg/4dm1eQ1

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday Open / Comment

2024-05-02 16:59:31 ZiG inflation fight: Zimbabwe’s new gold-backed ZiG currency will banish sky-high inflation that’s hamstrung the economy and made the country a poster child for runaway price pressures, the central bank says. https://bloom.bg/4a0R2tu

Starlink persists: Elon Musk’s Starlink service is still operating in multiple unauthorized regions, defying warnings issued by the company last month that its satellite internet will be shut down by May 1 in areas where it doesn’t have a license to operate. https://bloom.bg/44FSnVD

BHP CEO in South Africa: BHP sends a senior team to South Africa, as the company ramps up efforts to win over government officials that could determine the outcome of its bid for rival Anglo American. https://bloom.bg/3Wi30vw

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday Open / Comment

2024-04-30 16:03:10 ZiG hits streets: Zimbabwe starts circulating ZiG notes among the public, a day after the central bank kept interest rates unchanged at its first meeting since unveiling the gold-backed currency. https://bloom.bg/3xYZWu8

Not out yet: Investors shouldn’t discount South Africa over continental peers as it has strong institutions that can buttress its economy if it focuses on accelerating growth, said Razia Khan, the head of Africa research at Standard Chartered Bank. https://bloom.bg/3Qovno7

KitKat program: Nestle is expanding a program that boosts the income of poor farmers in Ivory Coast supplying cocoa for KitKat bars, but which still leaves pay well short of growers’ needs. https://bloom.bg/49Tdgxm

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday Open / Comment

2024-04-30 07:41:29 HSBC CEO Noel Quinn is unexpectedly stepping down, and the lender has started a search for a successor. More here: https://bloom.bg/3Qpny1l

: Lam Yik/Bloomberg Open / Comment

2024-04-29 16:25:58 Zambia mines: Vedanta Resources has approached trading houses as it seeks to raise capital to revive the Konkola copper mining and smelting complex in Zambia. https://bloom.bg/4dl4cEC

Family dynasty: Togo President Faure Gnassingbé is set to secure power for life if his party retains a majority in elections this week, cementing a West African dynasty as the region tilts away from democracy. https://bloom.bg/3wbzEUY

El Niño floods: More than 100 people have been killed in mudslides and floods in Kenya as heavy rainfall caused by El Niño weather conditions hit the East African nation. https://bloom.bg/3JCdAFU

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday Open / Comment

2024-04-26 20:16:32 BREAKING: King Charles III will return to public-facing duties next week for the first time since revealing his cancer diagnosis in February. Read more here: https://trib.al/gp7etMx

: Chris Jackson/Getty Images Open / Comment

2024-04-25 16:52:01 Big deal: BHP proposes a takeover of Anglo American that values the smaller miner at $38.9 billion, a deal that would create the world’s top copper producer and spark the industry’s biggest shakeup in over a decade. https://bloom.bg/4b5lvYN

Tech matters: Lawyers hired by the Democratic Republic of Congo have questioned Apple about the use of conflict minerals in their supply chain sourced from the country. https://bloom.bg/3JzOYh6

First fall: Zimbabwe’s gold-backed currency the ZiG weakens for the first time since its debut earlier this month. https://bloom.bg/49NmHOZ

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday Open / Comment

2024-04-24 16:45:38 Naira drops: Nigeria’s currency plunged, heading for its worst four-day losing streak since the naira was devalued in January as domestic dollar liquidity evaporated. https://bloom.bg/3vX9LrX

Green insurance: The World Bank is advising South Africa’s National Treasury on a climate risk strategy after floods in recent years caused billions of dollars of damage. https://bloom.bg/4aR7IF4

Chocolate crisis: Cocoa resumed gains in New York, with prices the most volatile in almost five decades amid uncertainty over a historic supply crunch. https://bloom.bg/4d5ATpr

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday Open / Comment

2024-04-24 06:33:20 BREAKING: The US Senate has voted to ban TikTok’s ownership by Chinese parent ByteDance. This now sets the stage for a constitutional clash over whether the prohibition deprives US users of their First Amendment free speech rights. https://bloom.bg/44h4ybc

: Bing Guan/Bloomberg Open / Comment

2024-04-24 05:40:01 BREAKING: The Senate passed a long-delayed $95 billion emergency aid package for Ukraine and other besieged US allies, clearing the way for resumed arms shipments to Kyiv within days. https://bloom.bg/49WnDjP

: Andrew Kravchenko/Bloomberg Open / Comment