 Business & Macro🇨🇩 Swiss miner Glencore held preliminary discussions about selling its multibillion-dollar copper and cobalt mines in DR Congo, the Financial Times reported, after rejecting an unsolicited bid last month. 🇳🇬 PZ Cussons Nigeria, a subsidiary of the British multinational consumer goods firm, said it will convert $34 million of debt from its parent holding company to equity to “strengthen its balance sheet.” Climate & Energy🇰🇪 Kenya will build 1,650 miles (2,700 km) of new power lines to connect 1.4 million homes to the national electricity grid over the next three years, the National Treasury cabinet secretary said. 🇷🇼 Kabisa, an electric vehicles provider in Rwanda, rolled out new charging stations in the capital Kigali, with assets that will supposedly cut charging times from one hour to 25 minutes. Geopolitics & Policy🇨🇩 Rwanda-backed M23 rebels occupied Bukavu, the second-biggest city in eastern DR Congo, advancing their offensive in the mineral-rich region. 🇳🇬 Nigeria’s President Bola Tinubu endorsed the creation of an independent African credit rating agency, a rival that would “provide fairer assessments of African economies and reduce the bias often observed” in the assessments of major Western agencies. Tech & Deals🇬🇭 Ghanaian digital banking startup Affinity raised $8 million, led by Germany-based Grazia Equity and British investor Backed VC. 🇳🇬 Africa Finance Corporation signed an agreement with the Export-Import Bank of China to finance trade and investment projects in clean energy, transportation, telecommunications, and climate change mitigation. |