Special Forces Veterans Lead US Bid to Buy Congo Cobalt Miner
Orion Resource Partners and Virtus Minerals are jointly negotiating the purchase of Chemaf, according to people familiar with the matter. While the US firms are in pole position to acquire Trafigura Group -backed Chemaf, the parties haven't entered into an exclusivity agreement as aspects of the deal are yet to be finalized, one of the people said, asking not to be identified as the talks are private.
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Forbes
3 hours ago
- Forbes
How Structured Trade Finance Can Help Address Africa's USD Liquidity Crisis
Meelan Gupta | Global finance & treasury pro w/ 25+ years' experience in Africa, the Middle East, Europe & Asia | GeBBS Healthcare Solutions Many African economies face persistent shortages of foreign exchange (FX), particularly U.S. dollars, which can impair their ability to fund imports, pay off debt and maintain stable macroeconomic conditions. The issue is especially severe in nations reliant on commodity exports or with narrow industrial bases. But an increasingly viable solution is emerging—structured trade finance using standby letter of credit (SBLC)-backed bill discounting. I work as a financial advisor and strategist with deep involvement in cross-border trade and structured finance across emerging markets. I have worked alongside African financial institutions, importers and development partners to design liquidity-enhancing trade finance structures. My experience spans engagements involving SBLCs, particularly for FX-constrained economies. This direct exposure to the operational and regulatory intricacies of African trade flows has informed my advocacy for structured solutions like SBLC-backed bill discounting as pragmatic mechanisms for maintaining macroeconomic stability and ensuring trade continuity. Understanding The FX Crunch Foreign exchange shortages are not new to Africa. Countries like Nigeria, Ghana and Kenya frequently struggle to access dollars, especially during periods of global economic stress (registration required). These shortages are exacerbated by fluctuating commodity prices, limited diversification and capital flight. For example, Nigeria's dollar crisis in 2014 followed a steep drop in global oil prices. More recently, the Covid-19 pandemic caused a $5 billion capital outflow from the continent, intensifying pressure on foreign reserves and curbing trade flows. The impact goes beyond macroeconomic figures—it disrupts sectors like agriculture and manufacturing. In Kenya and Nigeria, crop yields have fallen due to delayed fertilizer imports. In Egypt, textile mills have reduced output due to the unavailability of imported raw materials. These are not isolated incidents—they're systemwide consequences of a fragmented FX ecosystem. A Practical Model: SBLC-Backed Bill Discounting One proven, structured solution is the standby letter of credit-backed bill discounting model. This mechanism combines local bank credit enhancement with international bank liquidity to bridge the FX gap. Here's how it works, based on my experience: • A local firm issues an invoice to its client and presents it to its local bank for discounting. • Instead of paying USD directly, the local bank issues an SBLC to a correspondent bank that gives USD liquidity. • The international bank provides USD liquidity against the SBLC. • This liquidity is then used to pay offshore suppliers, while the local client eventually repays in local currency. This model can be used across industries to fund procurement and meet offshore obligations, without depending on a central bank or informal markets. In my firm's work with clients, we were able to do multiple transactions. Benefits Across The Board For banks, this model helps limit direct FX exposure and can deepen international correspondent relationships. For businesses, it eliminates reliance on central bank allocations or black-market FX premiums, helping improve supply chain continuity and project delivery timelines. For the economy, it can contribute to more stable FX markets, help lower inflationary pressure and promote investor confidence. Why It's Scalable My firm has concluded a deal in Nigeria, but the model is scalable across many African economies. South Africa, Ghana, Kenya and Egypt—with their structured banking systems and active trade links—are well-positioned to adopt similar solutions. The key enablers? Regulatory harmonization, credit guarantee schemes and collaboration between commercial banks and fintech platforms. Technology As An Enabler Digital platforms, artificial intelligence (AI)-driven credit scoring and blockchain-based documentation can further streamline trade finance. By automating invoice validation and tracking FX exposures in real time, these tools can help reduce friction and increase transparency in multicountry deals. Considerations And Caveats For SBLC-Backed Bill Discounting While SBLC-backed bill discounting can ease FX shortages and support trade, it comes with important caveats: SBLC-backed discounting can be a valuable tool but should be used selectively, with strong legal, financial and policy oversight. A Call To Action For Policymakers To support structured trade finance, African governments and regional blocs must: • Standardize trade finance regulations across borders. • Recognize SBLCs and similar instruments as eligible collateral. • Support credit enhancement and FX guarantee mechanisms through development finance institutions. A Call To Action For Finance Professionals Africa's FX shortage is a corporate challenge—and a major opportunity for finance professionals. Here's how you can respond: SBLC-backed discounting is a tool to help drive returns and resilience. Finance professionals can lead the charge in bridging Africa's liquidity gap while opening new markets and mitigating global risk. Final Thoughts Africa's FX liquidity challenges won't disappear overnight—but structured trade finance offers a road map to greater resilience. SBLC-backed bill discounting is one such tool that can potentially help stabilize trade flows, empower businesses and restore investor faith. For finance professionals, this is the moment to step in—not just as financiers, but as enablers of stability and growth in one of the world's most dynamic yet underserved markets. The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
Associated Press
3 hours ago
- Associated Press
Hansen secures a significant three-year contract extension with Africa's MultiChoice Group
MELBOURNE, Australia--(BUSINESS WIRE)--Jul 29, 2025-- Hansen Technologies (ASX:HSN), a leading global provider of software and services to the communications & media and energy & utilities industries, has signed a three-year contract renewal with MultiChoice Group to enable the continued utilisation of Hansen CCB, as well as the extension of the existing managed services solutions. The agreement, initially for a term of three years, combines various contracts into a single master contract; aligning to MultiChoice's ambition to transition to this latest version of Hansen CCB. MultiChoice is a South African company that operates DStv, a major satellite television service in Sub-Saharan Africa. As Africa's leading entertainment platform, MultiChoice offers a diverse range of content across multiple brands and countries. For over 25 years, MultiChoice has relied on Hansen for their single billing solution, which supports subscribers across 50 markets. Hansen's continued investment into the CCB platform has allowed MultiChoice to adeptly and efficiently handle the mission critical complexities of the various regional requirements and diverse country regulations across Africa. The extension of the contract is a reflection of MultiChoice's resounding confidence in Hansen, not only as a platform provider but as a partner in their evolving future. MultiChoice Group Chief Technology & Information Officer, Sabelo Mwali comments: 'Hansen has proven to be an invaluable partner over many years, consistently providing software and services that have resulted in a highly flexible, reliable and efficient billing platform for the MultiChoice Group. 'We look forward to continuing and expanding our highly successful collaboration with Hansen for many years to come.' Hansen's President of Communications & Media, Scott Weir, shares: 'This agreement re-iterates the confidence Tier-1 industry players hold in Hansen's technology and expertise to deliver mission-critical Billing solutions. 'We look forward to the further extension of the long-standing relationship we have built over the years as we continue to support MultiChoice's ambitions of further innovation and investment into the entertainment arena in Africa.' For further information about Hansen, please visit About Hansen Hansen Technologies (ASX: HSN) is a leading global provider of software and services to the energy & utilities and communications & media industries. With its award-winning software portfolio, Hansen serves organisations with customers located in over 80 countries, helping them to create, sell, and deliver new products and services, manage and analyse customer data, and control critical revenue management and customer support processes. For more information, visit About MultiChoice MultiChoice is Africa's leading entertainment platform, with a mission to enrich lives. The company offers a wide range of products and services, including DStv, GOtv, Showmax, M-Net, SuperSport, Irdeto, and KingMakers. Its products and services are used by over 23.5 million households in 50 markets across sub-Saharan Africa. View source version on CONTACT: For further information, please contact: Megan Rosier Director, Corporate Communications & Marketing Hansen [email protected] KEYWORD: SOUTH AFRICA AFRICA AUSTRALIA/OCEANIA UNITED STATES CANADA NORTH AMERICA AUSTRALIA INDUSTRY KEYWORD: TELECOMMUNICATIONS SOFTWARE INTERNET AUDIO/VIDEO TV AND RADIO TECHNOLOGY CARRIERS AND SERVICES ENTERTAINMENT SOURCE: Hansen Technologies Copyright Business Wire 2025. PUB: 07/29/2025 07:07 AM/DISC: 07/29/2025 07:07 AM
Yahoo
5 hours ago
- Yahoo
Peru weighs approval of mining projects worth $6bn
Peru is weighing the potential approval of mining projects with a total value of $6bn (21.69bn new sol), aiming to enhance the country's revenue from this key sector, according to a Reuters report. President Dina Boluarte, addressing Congress, highlighted the government's evaluation of 134 exploration and exploitation projects. The country, known as the third-largest copper producer globally, is engaging in dialogue with informal miners following protests that disrupted a transport route crucial for major mining companies like MMG and Glencore. The situation among informal miners is said to have intensified after more than 50,000 were excluded from a formalisation programme, leaving just 31,000. The government plans to align these remaining miners with regulations by the end of the year. These miners have temporarily halted their protest and blockade during discussions about a possible new mining law. In her address, the president also mentioned the creation of a private mining fund to provide small formal operators with better access to financing. Furthermore, the president announced an agreement with Ecuador's state oil company, Petroecuador, to link Ecuadorean oilfields to a Peruvian pipeline, facilitating transport to Peru's Talara refinery. Despite Peru's economic recovery from a recession sparked by anti-government unrest, almost 30% of the population remains in poverty. The president, who will remain in office until 2026, succeeded Pedro Castillo following his arrest for attempting to unlawfully dissolve Congress. She is currently under investigation for deaths during protests, allegations she denies. Controversy also arose when Boluarte's cabinet decided to double her salary in July, as per the report. "Peru weighs approval of mining projects worth $6bn" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
