South African President Cyril Ramaphosa has created a ministry of electricity as he seeks a solution to continual power blackouts that have beleaguered the country.

BP has reported a record profit of US$28 billion for 2022, lifted by the surge in energy prices since Russia's invasion of Ukraine, while boosting its dividend in a sign of confidence as it scaled back plans to reduce oil and gas output by 2030.

Oil and gas giant Shell has reported record annual profits after energy prices surged last year following Russia's invasion of Ukraine. 

CryptoConvert has announced that its CryptoQR platform is now active at all Pick n Pay stores around South Africa, allowing shoppers to pay with Bitcoin using the Lightning network.

The African Development Bank will commit US$10 billion over the next five years to boost food production on the continent and help end its reliance on imports.