Deadly Fire in Cairo Telecom Hub Causes Widespread Disruptions
The fire, which broke out on the seventh floor of the 10-floor telecom building on Monday, has now been brought under control, although users report mobile phone and internet services are unstable.
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Yahoo
11 hours ago
- Yahoo
Standard Bank Group's (JSE:SBK) Dividend Will Be Increased To ZAR8.17
The board of Standard Bank Group Limited (JSE:SBK) has announced that it will be paying its dividend of ZAR8.17 on the 15th of September, an increased payment from last year's comparable dividend. This will take the dividend yield to an attractive 6.5%, providing a nice boost to shareholder returns. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Standard Bank Group's Dividend Forecasted To Be Well Covered By Earnings Impressive dividend yields are good, but this doesn't matter much if the payments can't be sustained. Having distributed dividends for at least 10 years, Standard Bank Group has a long history of paying out a part of its earnings to shareholders. Based on Standard Bank Group's last earnings report, the payout ratio is at a decent 56%, meaning that the company is able to pay out its dividend with a bit of room to spare. The next 3 years are set to see EPS grow by 25.2%. Analysts estimate the future payout ratio will be 57% over the same time period, which is in the range that makes us comfortable with the sustainability of the dividend. Check out our latest analysis for Standard Bank Group Dividend Volatility The company's dividend history has been marked by instability, with at least one cut in the last 10 years. The annual payment during the last 10 years was ZAR5.98 in 2015, and the most recent fiscal year payment was ZAR16.34. This means that it has been growing its distributions at 11% per annum over that time. Standard Bank Group has grown distributions at a rapid rate despite cutting the dividend at least once in the past. Companies that cut once often cut again, so we would be cautious about buying this stock solely for the dividend income. The Dividend Looks Likely To Grow Growing earnings per share could be a mitigating factor when considering the past fluctuations in the dividend. Standard Bank Group has seen EPS rising for the last five years, at 23% per annum. The company doesn't have any problems growing, despite returning a lot of capital to shareholders, which is a very nice combination for a dividend stock to have. We Really Like Standard Bank Group's Dividend In summary, it is always positive to see the dividend being increased, and we are particularly pleased with its overall sustainability. The company is easily earning enough to cover its dividend payments and it is great to see that these earnings are being translated into cash flow. All in all, this checks a lot of the boxes we look for when choosing an income stock. Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. However, there are other things to consider for investors when analysing stock performance. As an example, we've identified 1 warning sign for Standard Bank Group that you should be aware of before investing. If you are a dividend investor, you might also want to look at our curated list of high yield dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
15 hours ago
- Yahoo
Natural Gas Could Be Angola's Next Big Money Maker
Angola is betting big on natural gas developments as a short-term increase in oil production is not expected to last despite the West African country leaving OPEC over capped production. Companies operating in Angola have recently started up two oil projects, but they have also begun to target non-associated offshore gas plays, hoping that a massive gas resource could be waiting to be tapped. Despite the recent oil project startups, Angola's oil production is expected to drop to about 1 million barrels per day (bpd) in 2027, from over 1.1 million bpd now, officials at the national oil and gas agency ANPG have told Reuters. At the same time, natural gas output is set to jump by 2030, per ANPG estimates. Increased gas output will raise Angola's LNG exports as developers offshore Africa bet big on natural gas to export to Europe and Asia. A recent large gas discovery year could be one of many gas plays that could underpin a jump in LNG exports and state revenues from gas. Last month, Azule Energy, a joint venture of international majors BP and Eni, discovered a major natural gas reservoir offshore Angola in the first gas-targeting exploration well in the oil-producing country. Initial assessments suggest gas volumes in place could exceed 1 trillion cubic feet, with up to 100 million barrels of associated condensate, Azule Energy said, adding that these results 'confirm the presence of a working hydrocarbon system and open new exploration opportunities in the area.' Azule Energy CEO, Adriano Mongini, commented: 'This is a landmark moment for gas exploration in Angola. Gajajeira-01 is the country's first dedicated gas exploration well, and its success reinforces our confidence in the potential of the Lower Congo Basin.' More recently, Mongini told Reuters that 'Given that Angola has a couple of prolific basins, I can imagine that we will be able to find much more reserves of gas.' BP's EVP production & operations, Gordon Birrell, highlighted the Angola discovery and its potential on the Q2 earnings call. 'Under the Azule brand, we had a discovery in Gajajeira in block 1/14, pretty close to shore, very developable. So West Africa remains an exciting area for us in terms of exploration,' Birrell told analysts. The exciting gas discovery comes as Angola struggles to materially boost oil production even after exiting OPEC in January 2024, following a spat with the OPEC and OPEC+ members about production quotas. Angola's oil production peaked in 2008 at about 2 million bpd. Output has declined in recent years, due to underinvestment in offshore resources due to higher development costs, which have prompted many companies to overlook the African oil producer as an investment destination. Azule Energy and TotalEnergies started up new oil projects last month, but these may not be enough to offset a decline in maturing fields. Azule Energy announced at the end of July the successful startup and first oil production from the Agogo FPSO. Combined, the Agogo and the Ndungu fields have estimated reserves of about 450 million barrels, with projected peak production of 175,000 barrels per day, produced via two FPSOs (Agogo and Ngoma). Also at the end of July, TotalEnergies launched oil production from the BEGONIA and CLOV Phase 3 offshore projects via subsea tiebacks to FPSOs to add a total of 60,000 barrels a day of new production. Still, Angola's oil revenues have dropped this year due to falling oil prices. Revenues from oil declined by 4% from the first quarter to $5.6 billion in the second quarter, according to government data. LNG and gas exports meanwhile, earned $755 million in the second quarter. Now the BP-Eni Azule venture is close to launching first gas from the New Gas Consortium (NGC) project after completing early this year the Quiluma and Maboqueiro offshore platforms in a 'significant step forward in Angola's first non-associated gas development.' The NGC project is a joint venture between Azule Energy, Sonangol E&P, Chevron, and TotalEnergies. 'Development of (NGC's) Quiluma and Maboqueiro fields, due to launch around end-2025, is the real litmus test for gas monetisation in Angola,' Jimmy Boulter, an analyst at Enverus, told Reuters. By Tsvetana Paraskova for More Top Reads From this article on Sign in to access your portfolio
News24
a day ago
- News24
Africa's nuclear capacity could expand tenfold by 2050 — report
For now, South Africa remains the only African country generating nuclear power. But Africa's nuclear sector is poised for significant growth, with a new International Atomic Energy Agency report projecting generating capacity could increase tenfold by 2050. Despite having just one operational nuclear plant today, a new report projects that Africa's generating capacity could increase tenfold by 2050. The report, Outlook for Nuclear Energy in Africa by the International Atomic Energy Agency (IAEA), was launched at the G20 Energy Transitions meeting in South Africa held between July 30 to August 1, 2025, at the Sun City resort in the North West. The report examines how nuclear power could help address the continent's electricity shortages, diversify its energy mix away from fossil fuels, and drive industrial growth. According to MaryAnne Osike from the Nuclear Power and Energy Agency (NuPEA), 'Nuclear is not here to replace wind, solar, or hydro, it's here to strengthen them.' 'Its ability to provide constant, reliable baseload power means renewables can operate more effectively without being limited by weather or seasonal variations,' she shared in a call. 'When integrated into a diversified energy mix, nuclear offers long-term price stability, strengthens grid resilience, and reduces dependence on imported fuels. It's part of the same clean energy toolbox that Africa needs to achieve both climate goals and industrial growth,' she added. The IAEA outlook report also highlights the role of emerging technologies such as small modular reactors, outlines national programmes already underway, and stresses the need for supportive policies, regional cooperation, and innovative financing. According to Rafael Mariano Grossi, IAEA director-general, 'Access to reliable and low-carbon energy sources such as nuclear can enable Africa to further explore and add value to its vast natural resources.' The shift comes as African governments face the dual challenge of powering economies where more than 500 million people still lack electricity and replacing fossil fuels, which currently provide more than 70% of the continent's power. In the IAEA's high-growth scenario, nuclear capacity in Africa could more than triple by 2030 and expand tenfold by 2050, requiring more than US$100 billion in investment. Even in the low-growth case, output would double by 2030 and increase fivefold by mid-century. For now, South Africa remains the only African country generating nuclear power. Its two-unit Koeberg nuclear power station supplies nearly two gigawatts to the grid, and in 2024, Unit 1 received a 20-year life extension. But several other countries are moving from planning to implementation. Egypt is building the 4.8-gigawatt El Dabaa Nuclear Power Plant, with its first unit expected online by 2028. Ghana, Rwanda, Kenya, Namibia and Nigeria have made firm decisions to adopt nuclear technology and are working with the IAEA to prepare infrastructure, establish regulatory bodies, and develop human capital. Kenya set up its Nuclear Energy Programme Implementing Organisation in 2012, has since established an independent regulator, and is targeting 2038 for its first reactor, with SMRs under review to match demand patterns. Ghana's Nuclear Power Ghana is in vendor talks for both a large nuclear plant and SMRs, while Nigeria has opened bids for a 4,000-megawatt facility and signed agreements with multiple suppliers. A large part of this momentum is driven by growing interest in small modular reactors (SMRs), which offer flexible power generation in smaller increments than traditional gigawatt-scale plants. 'Global interest in SMRs is increasing due to their ability to meet the need for flexible power generation for a wider range of users and applications,' according to Zizamele Mbambo, South Africa's deputy director-general for nuclear energy. SMRs are well suited to Africa's small or fragmented grids, require less upfront capital, and can be deployed more quickly. They also offer off-grid potential for industrial projects such as mining and desalination. The IAEA outlook notes that SMRs could even be integrated into existing coal power sites, reusing infrastructure while cutting emissions, a theme it plans to explore in a forthcoming coal-to-nuclear transition report for the G20. Africa already holds a significant advantage, being home to 14% of the world's uranium production. Namibia ranks as the world's third-largest producer, while Niger and South Africa are also in the top ten. In Namibia, the previously idled Langer Heinrich mine has been reopened, with production expected to resume in 2026, and new projects are due by 2028. Tanzania has confirmed large reserves, such as the US$1.2-billion Mkuju River plant in jointly with Russia, is on course for pilot production. This resource base could bolster both export earnings and domestic energy security if countries invest in fuel cycle capabilities to convert raw uranium into reactor-ready fuel. However, according to experts like Osike, the pace at which Africa's nuclear ambitions materialise will hinge on financing, given the sector's high upfront costs and decades-long project lifecycles. 'Nuclear projects demand substantial upfront investment and a commitment that spans decades… Without innovative financing models and strong partnerships, many African countries will struggle to move from ambition to reality.' In June 2025, the IAEA and the World Bank signed an agreement, the Bank's first formal engagement with nuclear energy in decades. This opens the door for World Bank support in extending reactor lifespans, upgrading grids, and accelerating SMR deployment, while signalling to other multilateral lenders, including the African Development Bank, that nuclear is part of the clean energy transition toolkit. Vendor financing is also in play. Egypt's El Dabaa project, for example, is backed by large concessional loans from Russia with low interest rates and extended repayment terms. However, many African nations face low credit ratings and high debt-to-GDP ratios, so new financing models, from regional SMR purchase agreements to blended public-private investment, will be key. 'Developing a nuclear programme requires a century-long commitment, from construction through decommissioning and waste management,' Osike shared. 'Stable national policy, public support, and regulatory readiness are therefore essential,' she added. The IAEA's Milestones Approach identifies 19 infrastructure issues that must be addressed before construction begins. Continental and regional integration could further accelerate nuclear rollout. The Africa Single Electricity Market, launched by the African Union, aims to link national grids into the world's largest single electricity market. This could allow countries to share nuclear output, stabilise grids, and make large-scale investments viable. Shared infrastructure, training, and regulatory capacity could mirror the cooperative models already used in hydropower projects. *
