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Africa-news (597)

TotalEnergies SE is planning to explore for oil offshore South Africa’s West Coast, where environmental groups have increasingly opposed such activity.

Bill Gates’ philanthropic foundation is pledging more than US$7 billion to improve health, gender equality and boost farming productivity in Africa. 

The Zambian, Kenyan, and Nigerian currencies are expected to weaken against the dollar in the next week to Thursday, with Ghana’s and Tanzania’s seen holding steady, while the Ugandan shilling is expected to firm, traders said.

The South African Reserve Bank’s Monetary Policy Committee will meet next week to discuss the country’s final rate hike decision for the year, with an announcement on the move expected on Thursday, 24 November.

Shares of JSE-listed grocery chain Spar slumped on Wednesday, after it reported muted operating profit growth for its year to end-September, hit by surging costs including for fuel and promotions, while its full-year dividend has more than halved.

Relatively little is known about Sam Bankman-Fried, the supposed crypto wizard who built a multi-billion-dollar exchange and in a few days saw it disappear in a puff of smoke.

The world’s population reached 8 billion Tuesday, according to estimates from the United Nations, even as the international body said that a surge in births in lower income countries is likely to create risks.

Tech companies are trimming staff and slowing hiring as they face higher interest rates and sluggish consumer spending in the US and a strong dollar abroad.

Investment company Brait, whose largest shareholder is Christo Wiese, has announced plans to spin off and separately list Premier Group, in an initial public offering (IPO) that would value the fast-moving consumer goods group at as much as R8.6 billion.

The rand has strengthened significantly in recent sessions, regaining lost ground after five months in the wilderness, say economists at Nedbank.