Matt Hill
@mattstephenhill
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Reporting for work. mhill58 at bloomberg dot net + own opinions here Also @matthill3.bsky.social
Cape Town, South Africa
Joined June 2009
Chinese mining companies in Zambia are now paying royalties and taxes in renminbi. Read our exclusive report to find out why, and what's in it for Zambia, Africa's second-biggest copper producer: https://t.co/ENjPRuFVl6
bloomberg.com
Chinese mine operators in Zambia started paying royalties and taxes in yuan in Africa’s second-biggest copper producer, the latest sign of the growing acceptance of the currency on the continent.
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Power China, one of the world's biggest engineering and construction companies, says it plans to keep pushing into Africa but, after the debt defaults, it's changing its approach https://t.co/YpIk8C4IDO
@mattstephenhill
bloomberg.com
Power Construction Corp. of China, one of the world’s largest engineering and construction companies, said it plans to continue to seek African business despite a series of sovereign defaults.
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UAE Plans to Invest $1 Billion in African AI Infrastructure https://t.co/sex9Gl3bAe via @MattStephenHill
bloomberg.com
The United Arab Emirates plans to invest $1 billion to expand artificial intelligence infrastructure and services across Africa, bolstering its influence on a continent that’s lagged behind the rest...
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This weekend, we marked one year since Mozambican opposition lawyer Elvino Dias was shot dead in one of the busiest roads of Maputo city. To date, nobody has been arrested or formally charged in connection with the crime. Authorities are silent. It’s sad to see how Impunity in
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#Ethiopia starts talks with #China to convert some of the $5.4 billion it owes Beijing into #yuan-denominated loans, following an example set by Kenya that bolsters China’s efforts to internationalize its currency. #dollar
https://t.co/gbyFDTH70f
@mattstephenhill @FasikaTade
bloomberg.com
Ethiopia started talks with China to convert at least part of the $5.38 billion it owes Beijing into yuan-denominated loans, following an example set by Kenya that bolsters China’s efforts to...
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The Zambian government refuted an independent estimate of how much toxic acid spilled from a Chinese state-owned copper mine in the southern African nation in February, and said a cleanup had begun
bloomberg.com
The Zambian government refuted an independent estimate of how much toxic acid spilled from a Chinese state-owned copper mine in the southern African nation in February, and said a cleanup had begun.
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Rebels with ties to the Islamic State killed at least 89 people in eastern Democratic Republic of Congo in attacks Monday, the government said
bloomberg.com
Rebels with ties to the Islamic State killed at least 89 people in eastern Democratic Republic of Congo in attacks Monday, the government said.
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I'm quoted in this article arguing that the flood of cheap, lab-grown gems is the biggest shock to the industry since 1908 when diamonds were discovered on Namibia's coast. Within two years, Namibia's diamond fields were producing about 50% of world output, up from 0%.
Diamonds made Botswana rich — now, the rise of cheaper, lab-made gems is plunging its economy into crisis
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#Diamonds made #Botswana about the richest country in Africa. But a crash in prices thanks to lab-grown gems is hammering the country. https://t.co/04N2467ipg
@mattstephenhill
bloomberg.com
The rise of cheaper, lab-made gems is robbing the country of the revenue that’s made its people the richest on the sub-Saharan African mainland
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Will this be the start of converting some $200bn Chinese debts in the Global South (PPG) from mostly USD to RMB? Maybe, but largely depending on the debtors. The rate can be attractive now but many don't hold ¥ reserves and feel uncertain abt fx risk
bloomberg.com
Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Treasury Secretary John Mbadi said.
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Zambia's February mining disaster is reportedly far worse than previously thought (30X), and could be the sixth worst incident globally. Our exclusive report free-to-read here: https://t.co/MZ2PocGODN
bloomberg.com
The partial collapse of a waste dam at a Chinese state-owned copper mine in Zambia may have released 30 times more toxic sludge into the environment than previously reported, according to an indepe...
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One very clear sign that a copper boom is underway: We got actual royalties from an academic history book about copper! It's now out in paperback too: https://t.co/3TGbxq8AEw
ubcpress.ca
Born with a Copper Spoon - A Global History of Copper, 1830–1980; Born with a Copper Spoon tells the fascinating and far-reaching story of one of the world’s most important metals.
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Mercuria and a Zambian state-owned company are set to ship their first copper under a new trading partnership
bloomberg.com
Mercuria Energy Group and a Zambian state-owned company are set to ship their first copper under a new trading partnership after obtaining a government waiver to export a semi-processed form of the...
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"Make no mistake, Zambia's recovery is the unlikely surprise of 2025" One of the world's sorriest economies is bucking the global slowdown - and it's no fluke, says @Matthew_Winkler
bloomberg.com
Just like the Hellenic Republic, Zambia is proving the debt naysayers wrong.
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Ghana faces a dispute with African Export-Import Bank, one of its biggest commercial creditors, over whether it should take losses on a $768.4 million liability
bloomberg.com
Ghana, emerging from a bruising debt restructuring process, faces a dispute with African Export-Import Bank, one of its biggest commercial creditors, over whether it should take losses on a $768.4...
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Mozambique's most prominent opposition leader said he agreed with the president to end violence that's rocked the southeast African nation since the disputed October elections
bloomberg.com
Mozambique’s most prominent opposition leader, who’s orchestrated months of demonstrations that have battered the country’s economy, said he agreed with the president to end post-election violence...
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#CycloneJude is causing destruction & flooding in areas already hit by two cyclones in the space of a few months, putting children & families at risk. UNICEF is working to respond but funding & supplies are limited. I shared an update with @Bloomberg:
bloomberg.com
Tropical Cyclone Jude made landfall on Mozambique’s northeastern coast in the early hours of Monday, bringing damaging winds and torrential rain near the nation’s main coal export terminal.
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A former Credit Suisse banker who admitted to his role in a bribery scheme involving a $2 billion bond fraud in Mozambique avoided a prison term after serving as the government’s star witness at two US trials
bloomberg.com
A former Credit Suisse Group banker who pleaded guilty to engaging in a $2 billion fraud and money-laundering scheme in Mozambique avoided a prison term after serving as the government’s star witness...
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