Africa news in brief
IMF approves disbursement of US$15.4 mln to Malawi
The International Monetary Fund (IMF) has approved the disbursement of US$15.4 million to Malawi as part of a three-year loan arrangement to assist the southern African country’s economic and financial reforms.
The US$108.2 million three-year arrangement was approved in April this year and the current draw brings the total disbursements under the arrangement to US$30.9 million, the fund said.
“Malawi’s program performance has been satisfactory. Program-supported structural reforms advanced and most performance criteria were met,” IMF deputy managing director Tao Zhang said in a statement late on Wednesday.
-Nampa/Reuters
Zambia's copper output up
Zambia’s annual copper output rose 10.4% in September to 631 359 tonnes, the central bank in Africa’s second-biggest producer of the industrial metal said on Wednesday.
Some mining companies operating in Zambia include NFC Africa, majority owned by China Non-ferrous Metals Company Limited (CNMC), Canada’s First Quantum Minerals, Glencore, Barrick Gold and Vedanta Resources.
-Nampa/Reuters
South African power utility's new strategy to be finalised in February
South Africa’s struggling state power firm Eskom will finalise its new strategy in February, its chief executive Phakamani Hadebe told parliament on Wednesday.
Cash-strapped Eskom is battling to emerge from a period of steep financial decline, during which its debts have ballooned while its electricity sales have fallen.
It implemented controlled power outages this year for the first time since 2015.
The new strategy will assess whether its current business model is sustainable, or whether it should be broken up into separate entities overseeing power generation, distribution and transmission.
In September, Eskom delayed the date at which its strategy would be submitted to its board.
-Nampa/Reuters
The International Monetary Fund (IMF) has approved the disbursement of US$15.4 million to Malawi as part of a three-year loan arrangement to assist the southern African country’s economic and financial reforms.
The US$108.2 million three-year arrangement was approved in April this year and the current draw brings the total disbursements under the arrangement to US$30.9 million, the fund said.
“Malawi’s program performance has been satisfactory. Program-supported structural reforms advanced and most performance criteria were met,” IMF deputy managing director Tao Zhang said in a statement late on Wednesday.
-Nampa/Reuters
Zambia's copper output up
Zambia’s annual copper output rose 10.4% in September to 631 359 tonnes, the central bank in Africa’s second-biggest producer of the industrial metal said on Wednesday.
Some mining companies operating in Zambia include NFC Africa, majority owned by China Non-ferrous Metals Company Limited (CNMC), Canada’s First Quantum Minerals, Glencore, Barrick Gold and Vedanta Resources.
-Nampa/Reuters
South African power utility's new strategy to be finalised in February
South Africa’s struggling state power firm Eskom will finalise its new strategy in February, its chief executive Phakamani Hadebe told parliament on Wednesday.
Cash-strapped Eskom is battling to emerge from a period of steep financial decline, during which its debts have ballooned while its electricity sales have fallen.
It implemented controlled power outages this year for the first time since 2015.
The new strategy will assess whether its current business model is sustainable, or whether it should be broken up into separate entities overseeing power generation, distribution and transmission.
In September, Eskom delayed the date at which its strategy would be submitted to its board.
-Nampa/Reuters
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