Ghana, Tanzania, Uganda FX Reserves Most at Risk if Gold Slumps, BMI Says
The three countries already rely on bullion for a significant share of their export receipts, as much as 45% in Ghana's case, 42% in Tanzania's and 35% in Uganda's, according to Fitch Solutions ' BMI unit.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Pensana PLC (PNSPF) Confirms Cost Envelope for Longonjo Rare Earth Project is Intact
Pensana PLC (OTCMKTS:PNSPF) is one of the best rare earth stocks to buy now. On July 28, the company confirmed that the overall cost envelope of $217 million for its flagship Longonjo project in Angola remains intact and on schedule. Adwo/ The company has already mobilized all engineering delivery partners, with SRK Consulting Ltd poised to commence drilling on the tailing storage facility to define the final excavation profile. Upon completing TSF drilling, the contractor is to remobilize to the Coola exploration project to commence a drilling program. Pensana has already invested $70 million in the Longonjo rare earth project in the Huambo district of Angola. 'We are extremely pleased with the excellent progress on the Longonjo project. The confirmation that our capital costs remain firmly within budget—and that our development timeline is intact—is a great result for the team. This reflects the quality of the planning and technical input to date, and we look forward to positive confirmation of the Coola deposit to extend the use of the processing infrastructure being developed at Longonjo beyond the +20 years currently contemplated,' said CEO Tim George. The project is believed to contain 139,457 tons of Neodymium-Praseodymium, making it one of the world's largest and highest-grade deposits. Pensana PLC (OTCMKTS:PNSPF) is a rare earth exploration and development company. It's developing the Longonjo rare earths project and the Saltend rare earth refinery project in the UK. The projects seek to produce high-value mixed rare earth carbonate and magnet metal oxides. While we acknowledge the potential of PNSPF as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
CNN
5 hours ago
- CNN
CNN and Afreximbank celebrate five years of Connecting Africa
August 7th, 2025 CNN International Commercial (CNNIC) and African Export-Import Bank (Afreximbank) are celebrating five years of the multi-platform series Connecting Africa. Hosted by CNN anchor and correspondent Eleni Giokos and Connecting Africa correspondent Victoria Rubadiri, the editorial series profiles the people, projects, and companies revolutionising African business and bringing the continent together. Afreximbank has been the exclusive sponsor of Connecting Africa since its launch in 2020. To mark the anniversary, Giokos and Rubadiri recorded a special episode of the show in front of a live audience on the sidelines of Afreximbank Annual Meetings (AAM) in Abuja, Nigeria. The episode reflects on Africa's economic evolution and explores what lies ahead as the African Continental Free Trade Area (AfCFTA) ushers in a bold era of growth and opportunity. Featuring a panel discussion with AfCFTA Secretary General Wamkele Mene, Oando CEO Wale Tinubu, and interviews with the next generation of Nigerian innovators, the special episode is available to watch here on CNN. Alongside the 30-minute monthly show, content is available across CNN's digital and social platforms. Giokos and Rubadiri also moderated panels at the AAM, including a fireside chat with Aliko Dangote and Strive Masiyiwa. CNNIC's five-year partnership with Afreximbank has also included the branded content documentary series Impact Stories. Produced by Create, CNNIC's brand content studio, and the Afreximbank TV team, Impact Stories showcases the bank's development impact, bringing to life the transformative power of trade finance and investment across Africa. Through cinematic storytelling, the series showcases the people and economies that have been transformed by Afreximbank's initiatives. The co-production was born from a deep collaboration between Create and Afreximbank to tell compelling pan African stories. Impact Stories has been renewed for a second season which will air later this year. Speaking about the anniversary, Rob Bradley, Senior Vice President, Digital Revenue, Strategy and Operations, CNN International Commercial, who attended the event in Abuja, said, 'Over the last five years we've worked closely with Afreximbank, resulting in compelling storytelling about African business resonating with CNN's global audience. We are proud of our partnership with Afreximbank and are excited to continue working together to highlight the people, policy, and progress shaping African businesses.' Commenting on the collaboration, Anne Ezeh, Afreximbank's Director of Communications and Events, said, 'It is vital that the incredible successes of African businesses and entrepreneurs are amplified across Africa and beyond. Our partnership with CNNIC has ensured that these voices strategically highlight Africa's development narrative and further position Africa as investment ready.' See more from Connecting Africa : Watch the anniversary episode:
Bloomberg
6 hours ago
- Bloomberg
Angola Says It Got Back $200 Million Collateral From JPMorgan
Angola's government got back $200 million from JPMorgan Chase & Co. that it used as additional collateral for a loan from the US lender, the finance ministry said. The oil-producing southern African nation in December and January issued about $2 billion of bonds as collateral for a $1 billion loan from JPMorgan. In April, JPMorgan asked for an additional $200 million in security after a decline in crude prices cut the value of the Angolan debt.
