Here's what's been making the business headlines in Sub Saharan
Africa this week. Shilling weakened on Thursday and Friday
as markets awaited the outcome of protests against a now
shelved tax increase plan. President William Ruto's climb down
on a controversial finance bill has left the country's efforts
to meet International Monetary Fund's targets in doubt. Investors
and analysts have said and could make borrowing more costly
. An executive of Nigeria's Dangote refinery has accused oil
majors of blocking its access to locally produced crude by
selling at above market price or claiming it was unavailable
. Dear. Edwin said the$20 billion refinery has
been forced to rely on expensive imports as it struggles
to find enough crude to meet its 650,000 barrel per
day capacity. Drought prone. Namibia will start construction
of its long awaited second desalination plant in January 2025
. Its Minister of Agriculture said on Wednesday, the
world's third largest uranium producer is seeing a surge in
exploration activities and acquisitions which alongside its ambitious green hydrogen
plans has increased water demand. China North industries,
Corp has agreed to buy struggling Cobalt miner chess assets
in Democratic Republic of Congo the latter said on Thursday
, Chinese miners, most of which are state backed
have become the biggest investors in Congo as the world's
second largest economy aggressively pursues copper and cobalt supplies for
its rapidly expanding electric vehicle industry. And finally,
South Africa's Silo Syin on Tuesday became the first medical
cannabis company to list on the Johannesburg Stock Exchange's Alternative
Exchange. The company said the global medical cannabis market
is projected to grow to around$40.5 billion by 2032
from 12.6 billion in 2023. And said it would
use funds from the listing to tap into the growing
global investor appetite.