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Africa-news (597)

FTX Co-Founder Sam Bankman-Fried was accused by US regulators of carrying out a multi-year scheme to defraud investors.

The US’s resolve to claw back lost influence in Africa will be put to the test this week when dozens of the continent’s leaders and officials gather for three days of talks with their American counterparts in Washington.

Uganda said on Friday it would not renew South Africa power firm Eskom’s licences to run two hydropower stations when they expire in March next year, as part of plans to bring the electricity sector under government control to reduce costs to consumers.

The UK approved opening its first deep coal mine in more than 30 years, risking backlash from activists portraying the project as a backward step in meeting ambitious climate goals.

Developing nations may need to find as much as US$2.5 trillion over five years to meet external debt-service costs as interest rates rise and poorer countries struggle to refinance borrowings, a Finance for Development Lab model shows.

Seven African stock exchanges launched an integration project in Ivory Coast on Wednesday to facilitate cross-border trading of securities on the continent.

Short-term insurer OUTsurance, which recently completed its transition and rebrand from Rand Merchant Investment Holdings (RMI), listed on the Johannesburg Stock Exchange on Wednesday.

Specialist recruitment firm Michael Page has published its latest salary guide, showing what skilled professionals in South Africa can expect to earn in 2023.

HSBC says it will close 114 more branches in the UK from April, as customers using them have fallen significantly since the pandemic.

Strong demand for Oceana Group’s canned fish, driven by strong demand for affordable protein through its Lucky Star brand, and good catches in the US, saw the group report a strong operational third quarter.