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Mpact considers Springs mill closure amid import competition
Mpact said global oversupply in the cartonboard market, combined with a strong rand, has undermined the viability of its local production. Customers are now able to import cartonboard at prices about 20% below the Springs mill’s cost of production, a gap the company said it cannot close. Pressure escalated in January 2026, when the mill’s
MTN moves toward full control of IHS Towers
MTN Group said on Thursday that it is in advanced discussions to acquire the remaining shares in IHS Holdings, a transaction that would give the mobile operator full control of the tower infrastructure business. In a cautionary notice to investors, MTN said it is considering the acquisition of the remaining 75% stake in IHS following
No Free Lunch Podcast – Unpacking The Bond Market in 2026
In this episode of No Free Lunch, host Greg Stewart engages with Conway Williams, head of credit at Prescient Investment Management, to explore the intricacies of the bond market. They discuss the fundamental nature of bonds, the current dynamics affecting credit pricing, and the role of asset management in navigating these challenges. The conversation also
THE MINING WRAP
The proposed US$260 billion merger between Glencore and Rio Tinto has collapsed after Glencore rejected the offer. The company said the proposal did not adequately value its business. The transaction would have combined two of the world’s largest diversified miners. Both companies have overlapping exposure to iron ore, copper, and other base metals. They also
Omoda expands South African lineup with C5 Super Hybrid System
Omoda and Jaecoo will introduce the C5 Super Hybrid System to the South African market, adding a petrol-electric option to its best-selling local model. The rollout follows a recent update to the C5 range and reflects the brand’s effort to deepen its footprint in the compact sport utility vehicle segment, where the model has built
Breaking News Today – Friday 6th February 2026
Business News Today African Debt Repayments Concerning – S&P S&P Global Ratings has warned that African governments face a heavy debt repayment schedule of approximately $90 billion in 2026. Egypt alone accounts for nearly one-third ($27 billion), followed by Angola, South Africa, and Nigeria. The agency expects credit conditions to stabilise rather than improve, with
Toyota Opens 2026 as South Africa’s Top Selling Vehicle Brand
Toyota South Africa Motors began 2026 with 11,786 new vehicles sold in January, retaining its position as South Africa’s best selling automotive brand. This performance translated into an overall market share of 23.5%, reinforcing Toyota’s leadership in the local market. Fleet sales accounted for 42.5% of dealer transactions, Showing continued demand from corporate, rental, and
SpaceX Meets Overseas Banks Ahead of Planned IPO
SpaceX has held meetings with banks outside the United States as it prepares for a potential initial public offering later this year. The rocket and satellite company, led by Elon Musk, is working toward a listing on an accelerated timeline. Foreign banks met SpaceX executives at the company’s California offices in mid-January. One group included
Côte d’Ivoire Grants Mining Permits for Assafou and Doropo
The government of Côte d’Ivoire approved two mining decrees at a Cabinet meeting on Wednesday, February 4. The decision grants operating permits for the Assafou and Doropo gold projects. It allows construction to move forward at both sites and supports plans to raise annual gold production to about 100 tonnes by the next decade, from
Kenya Cuts Debt Costs by Switching Railway Loans to Yuan
Kenya reduced its debt servicing costs by about $167 million after converting railway loans from dollars to yuan, according to data released on February 2 by Margaret Nyakang’o, the country’s budget controller. In January, Nairobi paid 37.5 billion shillings ($290.7 million) to China Eximbank for a semiannual installment, well below the 59 billion shillings ($457.4
Google Releases WAXAL for African Language Speech
Google has launched WAXAL, an open-source voice database created to support speech technologies in African languages. The project took three years to complete and involved universities and research groups across the continent. It responds to a long-standing lack of usable speech data, which has limited the development of voice tools in sub-Saharan Africa. The dataset
Have Hybrid Energy Systems Exposed the Limits of Carbon Accounting in African Mining?
Hybrid energy systems have become a defining feature of modern mining operations across Africa. Faced with unreliable grids, high diesel costs, and pressure to reduce emissions, mines increasingly rely on combinations of solar power, battery storage, diesel generators and, where possible, grid electricity. While these systems have delivered clear operational and environmental benefits, they have
Murphy Oil Plans Second Well in Côte d’Ivoire After Non-Commercial Civette-1X
Murphy Oil Corporation plans to resume offshore exploration drilling after its Civette-1X well, the first in its CI-502 campaign offshore Côte d’Ivoire, returned non-commercial results. The U.S. oil producer is now preparing to drill a second exploration well as part of its ongoing prospecting programme. Caracal well planned after Civette-1X results The update was disclosed
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Heats Up
Nvidia is nearing a deal to invest roughly $20 billion in OpenAI as part of the artificial intelligence firm’s latest funding round, according to Reuters. ChatGPT maker OpenAI is seeking to raise up to $100 billion in the round, valuing the company at about $830 billion, Reuters reported last week. Competitive partnerships and stalled talks
Tesla Posts January Sales Gain in China Despite Global Market Share Pressure
Tesla sold 69,129 China made electric vehicles in January, marking a 9.3% increase from the same period a year earlier and extending gains for a third consecutive month, even as the company continues to lose market share in key global markets. Deliveries of Model 3 and Model Y vehicles produced at Tesla’s Shanghai plant, including
Nigeria Formalises Electric Vehicle Manufacturing Plans with South Korea
Nigeria has formalised plans to develop an electric vehicle manufacturing plant through a partnership with South Korea’s Asia Economic Development Committee, setting out a phased approach to local production. The project will begin with electric vehicle assembly before progressing toward fully integrated manufacturing. At full capacity, the plant is expected to produce up to 300,000
Burkina Faso's Gold Production Reaches Record 94 Tonnes
Burkina Faso recorded one of the strongest mining years in its history in 2025. National gold production reached a record 94 tonnes, according to figures presented by the Minister of Energy, Mines, and Quarries, Yacouba Zabré Gouba. The total marks an increase of more than 30 tonnes compared with 2024, pointing to a sharp rise
Ford SA Adds Extra Long Wheelbase Transit to Its Local Line Up
Ford South Africa has added an Extra Long Wheelbase (ELWB) derivative to its Transit Van line-up, pushing the platform to the upper limit of what a van can handle before operators need to move into light truck territory. The model targets businesses that move large volumes and heavier loads but want to avoid the regulatory,
Alternative Financing for African SMEs Amid High Interest Rates
High interest rates have clearly become a structural challenge for African SMEs enterprises. In many African markets, commercial bank lending remains expensive, short term, and collateral heavy. For many SMEs particularly those without property or long operating histories access to affordable debt is limited. As a result, businesses are increasingly looking beyond usual bank loans
FMO invests USD 20 million in Lula to expand SME funding in South Africa
In a significant development for small business development in Southern Africa, South African SME funding platform Lula has secured R340 million (USD 20 million) in local currency funding from FMO, the Dutch entrepreneurial development bank. This investment is set to significantly expand access to finance for micro, small, and medium enterprises (MSMEs) across the country.