South Africa published a long-anticipated draft of oil and gas legislation that will give the state a 20% carried interest in exploration and production rights, with the aim of increasing development of the industry. The policy also calls for at least a 10% participating interest by black partners and the[…]
Chad is one of the world’s poorest countries, but in its capital, Ndjamena, rent rates rival those of New York or London at upwards of $2,000 a month for a two-bedroom flat in the city centre. The dusty city on the edge of the Sahara was ranked the most expensive in Africa and[…]
SA’s economy shrank by 0.6% in the three months to end-September, Stats SA announced on Tuesday. This is the second time this year that SA’s economy has contracted. In the second quarter of the year the economy grew by 3.1%, after shrinking by 3.2% in the first quarter. Stats SA said one[…]
Washington’s self-professed solidarity with Iranians protesting against rising fuel costs cannot be taken seriously since US sanctions have caused so much suffering in the Islamic Republic, Foreign Minister Javad Zarif said. “The regime that imposes coercive economic actions and bars delivery of food and drugs to the elderly and patients,[…]
President Cyril Ramaphosa, speaking at the second Africa Investment Forum in Sandton, called on investors to invest on the African continent Ramaphosa says the Africa Continental Free Trade Area Agreement (AFTCA) will be a game changer for investment and business opportunities in the next 10 years for Africa. The President[…]
A new oilfield discovered in southwestern Iran is the second largest found in the country, Iran’s oil minister Bijan Zanganeh said on Monday, according to SHANA, the ministry’s news site. The Namavaran oilfield has an estimated 53 billion barrels of reserves, Zanganeh said. Exploration started at the site in 2016, with[…]
As Earth is apparently too small for China’s economic ambitions, the country is considering developing commerce beyond our planet and wants to create an economic zone in cislunar space by 2050. The new zone will cover areas of space near Earth, the Moon, and in between, Bao Weimin, the head[…]
In a struggling economy like South Africa’s, purchasing legitimate – and often expensive – goods is a luxury not all can afford. Many in Cape Town, at least, know of someone or someplace that stocks counterfeit goods and often, very secretively, purchase from these distributors. However, many overlook the economic[…]
Moscow has written off more than $20 billion in debt accumulated by African countries during the Soviet era, Russian President Vladimir Putin announced on Wednesday. “It was not only an act of generosity, but also a manifestation of pragmatism, because many of the African states were not able to pay[…]
Heads of African countries have flocked to Russia for a first of its kind summit, where Moscow will be offering business ties and security arrangements alternative to ‘colonial-style’ relations with the West. Over the past decade, the African continent has become a battleground for geostrategic competition involving China, the US,[…]
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