China stockpiling of Cobalt has seen it’s prices soar, rising by about 65 per cent since January. Cobalt is used in batteries for electric vehicles, as well as smartphones, tablets and laptops. China is the world’s biggest importer of cobalt, buying about 95,000 tonnes of it every year.
West African Nations Sever Common Currency to France and Euro
Eight West African countries have agreed to sever a common currency from France. The countries have agreed to change the existing bloc currency to Eco from CFA Franc and sever currency ties to its old colonial master. The announcement was made by France’s President Emmanuel Macron and Ivory Coast President Alassane Ouattara at a joint news conference at the Petit Palais in Abidjan on December 21, 2019. Ivory Coast is the world’s top cocoa producer and France’s former main colony … Continue reading “West African Nations Sever Common Currency to France and Euro”
The Risks and Opportunities of The ‘African Amazon’ Jumia IPO
The Nigerian company Jumia Technologies NYSE IPO has gotten a lot of hype with the expected growth in e-commerce in Africa and because of its shareholders including Rocket Internet SE, Mobile Telephone Networks. Axa CS and Orange SA of France. The risks however are not idle.
Glencore Restructures Congo Copper Miner Katanga for $5.6 Billion
Australian Swiss mining giant Glencore PLC announced a massive $5.6 billion restructuring of its troubled Congo copper company, Katanga Mining last week which resolved the fiery dispute with Congo’s state-run mining companies massive debt load.