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00:00 Here's what's been making the business headlines in sub-Saharan Africa this week.
00:05 Zambia suffered a major setback in its debt restructuring efforts.
00:10 That's after the government said on Monday that a revised deal to rework three billion
00:14 dollars of euro bonds could not be implemented at this time due to objections from official
00:19 creditors, including China.
00:22 Zambia defaulted on its debts three years ago and its restructuring has been beset by
00:27 delays.
00:29 Nigeria's Naira touched a record low against the dollar on the official market on Thursday,
00:34 bringing it closer to the rate at which it trades on the parallel market.
00:39 It's been drifting downwards for two weeks as the central bank is yet to clear outstanding
00:43 foreign currency amounts owed in forward deals.
00:48 Bali's military government said on Tuesday that it has signed an agreement with Russia
00:50 to build, in the capital Bamako, what would be the West African country's biggest gold
00:56 refinery.
00:58 That follows energy and mineral exploration deals signed earlier this year as Moscow seeks
01:02 to extend its regional influence.
01:06 South Africa's citrus exports missed an industry target as they remained flat during the 2023
01:11 season, the National Growers Association said on Wednesday.
01:15 The president of the Citrus Growers Association of South Africa said that was due to persistent
01:19 power cuts by state-owned utility Escom and underperformance at state-run freight rail
01:24 and port utility Transnet.
01:27 And finally, Germany will invest €4 billion, or about US$4.4 billion, in green energy projects
01:33 in Africa until 2030, its chancellor said on Monday.
01:37 Olaf Scholz said Germany will need to import large quantities of green hydrogen, including
01:42 from Africa, if it is to achieve its goal of net zero emissions by 2045.
01:47 [BLANK_AUDIO]