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Kenyan logistics startup Leta has secured $5 million in seed funding to enhance its AI-powered platform and expand into new African markets, including Rwanda and Mauritius. Founded in 2022, Leta has achieved significant growth, handling 4.5 million deliveries and managing 7,400 vehicles, while helping major brands like KFC and EABL reduce costs. The investment, led by Speedinvest with participation from Google’s Africa Investment Fund, will support the startup's mission to optimize supply chains for businesses across the continent.
Egypt has ascended to become Africa's second-largest solar energy producer, with an installed capacity of 707 MW, trailing only South Africa's 1,235 MW. By the end of 2024, solar power projects across the continent are expected to reach a total capacity of 40 GW, with Egypt contributing significantly to this growth.
UBS upgraded Barrick Gold's outlook from Neutral to Buy on March 5, 2025, forecasting a 32.59% price increase to an average target of $23.51 per share. Despite a projected 8.24% revenue decline to $11,857MM, institutional ownership rose by 2.91%, with a bullish put/call ratio of 0.52.
Ecora Resources has acquired a $50 million copper stream from Moxico Resources’ Mimbula mine in Zambia, enhancing its earnings and copper portfolio. ATOME PLC's partnership with Hy24 on the Villeta project advances its hydrogen initiatives, while CleanTech Lithium targets an ASX listing pending government decisions on its Laguna Verde project. Nostra Terra Oil and Gas has nearly doubled production at Pine Mills to 99 barrels per day, and Alt Resources aims to be the only AIM-listed royalty company focused on gold and critical minerals, with a new acquisition supporting Theta Gold Mines' development in South Africa.
Emerging market sovereigns face vulnerabilities amid rising global financial volatility, particularly with the U.S. dollar rallying. Countries like Argentina, Turkey, and South Africa have seen significant currency depreciations, while exposure to currency risk varies widely, with South American nations notably affected. Additionally, potential capital outflows and increased interest burdens could exacerbate financial pressures for several emerging economies.
UAE-based investment platform 2PointZero plans to list on the Abu Dhabi Securities Exchange by the end of 2025, as announced by CEO Mariam bint Mohammed Almheiri. Established in 2024 by the International Holding Company, it manages assets exceeding Dh100 billion ($27.23 billion) and targets growth in Asia, Latin America, and Africa.Notably, its subsidiary, International Resources Holding, acquired a 51% stake in Zambia’s Mopani Copper Mines for $1.1 billion in March 2024. The company’s diverse portfolio includes alternative asset manager Lunate and Egyptian financial services firm Beltone, as IHC expands its global investment footprint.
KME, a leading European rolled copper supplier, has shifted focus to the booming electronics sector, with over 90% of sales now in rolled copper. The company is enhancing its ESG profile, with 43% of output from recycled copper, while expanding its borrowing base facility to €460m to support growing demand driven by AI and electrification.
Arc Minerals has reported promising assay results from its joint venture with Anglo American in Zambia, revealing 0.6% copper over a 40-meter thickness and high-grade intersects of 1.7% copper. With significant funding of nearly $90 million from Anglo, the company is well-positioned for exploration in a region known for its copper potential. The ongoing rainy season has paused drilling, but plans are in place for a busy year ahead as they review data and prepare for future operations.
Melania Trump's memecoin peaked at a $13 billion valuation before collapsing, while her husband Donald Trump's token, TRUMP, currently trades at $25.77 with a $5.1 billion market cap. Meanwhile, Errol Musk aims to raise up to $200 million for the MUSKIT memecoin, which has seen fluctuating values since its launch.
Zambia is working to address an $80 million erroneous payment made by its power utility, Zesco Ltd., to China. The funds were mistakenly transferred from a securitized account that had been accumulating revenues from electricity sales linked to a power plant financed by Chinese companies. This issue arises as Zambia continues to finalize a prolonged debt restructuring deal with China.
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