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UBS forecasts gold prices could reach $3,500 as investors seek safe havens. Caledonia Mining Corporation reported a strong financial performance with a net profit of $17.9 million and operating cash flow of $42 million, driven by higher gold prices. Analyst Will Dymott values the company at £1,800 per share, highlighting significant upside potential as it focuses on the Bilboes mine and continues to trade at a discount compared to peers.
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.
The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, is set to expand in 2025, with over 20 countries expressing interest in joining, driven by a desire for de-dollarization and a shift in global economic dynamics. U.S. President-elect Donald Trump has threatened 100% tariffs on nations supporting a BRICS currency, emphasizing the need to maintain the dominance of the U.S. dollar. The bloc aims to integrate nations that align with its vision, reflecting its growing influence in international affairs.
The BRICS alliance is set to expand in 2025, with growing interest from African nations eager to join. This expansion could enhance bilateral trade and local currency settlements, appealing to developing countries seeking alternatives to the US dollar. Additionally, discussions around cryptocurrency adoption are intensifying, with proposals for an electronic payment infrastructure that may position Bitcoin as a viable alternative to the dollar, potentially reshaping global economic dynamics.
The BiG Africa Summit 2025 will take place from February 17-20 in Gaborone, Botswana, marking its 11th annual edition. This four-day event, hosted by Eventus International, will gather industry leaders to discuss the future of iGaming in Africa, featuring workshops, panel discussions, and networking opportunities.Key topics include harmonizing regulations, responsible gaming, and the impact of AI in sports betting. Attendees will have the chance to connect with C-level executives and experts, exploring innovative strategies to thrive in the evolving market.
Zimbabwe’s industrial power users have secured $250 million from the African Export-Import Bank to develop a floating solar plant at the Kariba Dam, the world’s largest man-made lake. The project, led by the Intensive Energy User Group, which includes mining companies like Rio Tinto’s local unit and Mimosa, aims for a 250-megawatt capacity with potential expansion to a gigawatt within 18 months.
Zimbabwe's Finance Minister announced a reduction in import duty on electric vehicles from 40% to 25%, effective January 1, 2025, to promote eco-friendly transportation. Additionally, a rebate on equipment for solar-powered EV charging stations will also be introduced, enhancing the feasibility of such projects in off-grid areas. However, the budget also includes new taxes, such as a 0.5% Fast Foods Tax, which has sparked public discontent amid an already high tax burden.
National Foods Holdings Ltd., Zimbabwe's largest food manufacturer, will take the company private and delist from the Victoria Falls Stock Exchange, which operates solely in US dollars. The decision stems from the company's lack of immediate capital needs from equity markets, diminishing the benefits of maintaining its listing.
Zimbabwe is under increasing financial pressure as it implements reforms aimed at restructuring its $21 billion debt to international creditors, according to African Development Bank President Akinwumi Adesina. As of December 2023, the Reserve Bank of Zimbabwe has transferred $3.66 billion of external debt to the Treasury.
Zimbabwe plans to pay $331 million to 439 former white farmers whose land was seized in 2000, as part of efforts to restructure its significant debt. This move aims to facilitate negotiations with creditors, allowing the nation to access international capital markets after being locked out for over two decades.
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