Business
Strikes in South Africa Impede Business
CAPE TOWN — Reeling from worker strikes and falling commodity prices, South Africa is facing fresh challenges in drawing investors to its resource-rich economy.
Africa’s biggest economy is a trove of precious metals and coal, and is believed to have the world’s largest reserves of platinum. But some companies say they are reassessing business in the country, as labor strikes upend production and hurt exports.
On Tuesday, police fired rubber bullets and stun grenades to disperse a crowd of striking mine workers outside an Anglo American Platinum Ltd. AMS.JO -3.69% mine in Rustenburg, northwest of Johannesburg. Police said the striking workers were preventing those not on strike from going to work and that they started to throw stones at police, before the crowd was dispersed. Two men were arrested.
The work stoppage at the world’s three largest platinum companies has cost $18 million in lost revenue a day, according to the companies. It is also the biggest strike in the platinum sector since 2012, when police killed 34 protesters during an illegal work stoppage at Lonmin LMI.LN 0.00% PLC’s Marikana mine.
On Tuesday, the World Bank lowered its South African growth forecast to 2.7% this year, pointing to the country’s sluggish mineral export growth and commodity prices that peaked a few years ago.
The troubles are hardening battle lines between the South African government and big business.
The South African government wants companies and workers to settle their differences at the bargaining table, and appears wary of jeopardizing political support from labor groups. Many companies are looking for ways to lighten their labor footprint—whether that is through closing mines, introducing new technology or steering clear from the mineral-rich economy.
“You’re not going to see a huge wealth of investment coming into South Africa,” said Rajat Kohli, the head of global mining and metals for Standard Bank.
Anglo American AAL.LN +2.36% Platinum has warned that if the current platinum strike continues it would consider closing more of its marginal mines. On Tuesday, the company’s executive director for South Africa, Khanyisile Kweyama, said the operating and production risks brought on by labor strikes, and rising costs, will prompt Anglo American to rely more on machines and less on workers.
“The labor intensity of the industry has come to haunt us,” she said.
Foreign-direct investment into South Africa more than doubled in 2013 to $10.3 billion, the United Nations Conference on Trade and Development said last month. But the bulk of that investment was in South African retailers, the U.N. said, and investment in the mining industry has steadily declined. Unctad doesn’t detail precise investments into specific industries.
Speaking at global mining conference in Cape Town on Tuesday, South Africa’s mining minister, Susan Shabangu, said the government understands how labor disruptions hurt foreign investment but that the country’s constitution protects the right to strike.
“We want a solution that will enable us to attract investment but also recognize the rights of workers,” she said.
Ms. Shabangu urged companies to do more to meet workers’ needs, including skills training, and to put more equity into the hands of local black South Africans. She also urged workers to protest peacefully.
But mining executives say that as they seek to meet transformation targets, union leaders continue to demand steep salary increases that could cause more mines to close, dissuade investment and shift focus to wage agreements rather than broader employee development.
The striking platinum workers are demanding that their employers raise entry-level salaries to 12,500 rand ($1,150) a month from around 5,000 rand.
A centerpiece of the ruling African National Congress’ campaign ahead of elections a few months from now is a pledge to create six million new jobs, if it wins a new term through 2019. Officials also acknowledge, however, that growth is too slow to dent official unemployment rates that hover near a quarter of the workforce.
The World Bank, in its new report, said the government’s current policies don’t go far enough to encourage exporters to invest in job-generating enterprises. It cited infrastructure bottlenecks and labor policies, which constrain employers from hiring and firing, as among the obstacles for investors.
“South Africa is playing against its strength as a large emerging market: It’s not taking advantage of its large pool of unskilled labor,” said Catriona Purfield, a World Bank economist and co-author of the new report.
The South African Chamber of Commerce and Industry echoed that gloomy assessment on Tuesday, releasing survey results showing its business confidence index slipping to a six-month low in January.
“South Africa’s competitive position amongst other emerging markets is not favorable,” the chamber said.
The country’s currency, the rand, has dropped some 7% against the U.S. dollar this year as investors sold more than $1 billion worth of South African stocks and bonds.
– WALLSTREET JOURNAL
Sahara Energy Geneva has highlighted the power of business collaboration to deliver lasting impact, with Mercy Ships Cargo Day celebrating more than $20 million raised over the past decade to support healthcare interventions in Africa.
More than 500 guests from over 150 shipping and trading companies gathered in Geneva recently for the 10th anniversary Gala of Mercy Ships Cargo Day, celebrating a decade of industry support for the international charity.
David Walker, Head of Chartering at Sahara Energy Geneva and Chairman of the Cargo Day Geneva Committee, joined industry leaders at the event, where he thanked the global shipping community, sponsors, media partners and Cargo Day committees in Geneva, London, Houston, Dubai and Singapore for supporting the initiative.
Cargo Day brings together charterers, shipowners, shipbrokers, and other shipping professionals who contribute through pledges, cargo commissions, and address commissions to support the work of Mercy Ships.
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Kola Motajo, Director, Sahara Geneva said Sahara’s involvement reflects the company’s belief in the ability of enterprise and partnerships to deliver impact beyond business.
“At Sahara, our focus is always on impact and lives transformed. Cargo Day demonstrates what is possible when businesses and individuals unite around a shared purpose. The $20 million milestone reflects the collective commitment of the global shipping community to improving healthcare in Africa. As Sahara looks Beyond XXX, we remain committed to building connections that create lasting value and possibilities for generations to come,” Motajo said.
Reflecting on Cargo Day’s growth, Walker said: “Ten years ago, we raised $300,000 and there were 70 people at the Gala. Today, we have more than 500 people coming from around the world to support such a great cause.”
Cargo Day 2025 raised more than $2.5 million, with 93 companies participating, including charterers, brokers, shipowners, and other partners.
Mercy Ships operates two hospital ships supporting patients in Africa with free life-changing surgeries, while also providing training and mentoring for local healthcare professionals. Cargo Day funding contributes to expenses associated with operating the hospital ships.
The 2026 Cargo Day campaign begins November 4 and will run through November and December, with companies participating through Mercy Cargoes, address commissions and pledges.
Up to 30 Nigerian graduates have bagged postgraduate scholarships to pursue further studies both locally and in the Diaspora.
According to the Nigerian National Petroleum Company Limited (NNPC Ltd) and Italian energy company, Eni have awarded postgraduate scholarships
The beneficiaries emerged from more than 3,000 applicants following assessments of their academic records and performances in a recently conducted computer-based test (CBT).
The awards are under the 2026/2027 Postgraduate Scholarship Scheme of Nigerian Agip Exploration Limited (NAE), an Eni subsidiary, on behalf of the NNPC-NAE Production Sharing Contract (PSC) partners.
In a statement, NAE’s Vice Chairman and Managing Director, Maurizio Pinna, said the initiative was designed to develop local talent and equip young Nigerians with skills relevant to the oil and gas industry. Pinna congratulated the beneficiaries, noting that the scholarships would enable them to pursue their academic ambitions and achieve their career goals.
According to NAE, the programme reflects its commitment to education, innovation and capacity building in Nigeria.
The company urged the beneficiaries to make good use of the opportunity by acquiring valuable knowledge and skills that would contribute to national development, particularly in the energy sector.
Ten of the awardees will undertake postgraduate studies in universities abroad, including Imperial College London, Robert Gordon University in Aberdeen, Newcastle University, the University of Aberdeen and the University of Hull in the United Kingdom.
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The remaining 20 beneficiaries will study at Nigerian universities in fields including engineering, geosciences, petroleum and environmental technology, energy economics, renewable energy and energy transition.
Established in 2007, the NNPC-NAE PSC postgraduate scholarship scheme is part of the partners’ human capital development programme aimed at promoting specialised knowledge and addressing skills shortages in Nigeria’s deep offshore oil and gas operations.
NAE said 380 Nigerian graduates had benefited from the scheme since its inception, gaining knowledge and skills required by the oil and gas industry.
Beyond education, Eni, through NAE, has implemented sustainability initiatives in Nigeria covering healthcare, access to water, infrastructure and community empowerment.
Eni has operated in Nigeria since 1962 and currently has an equity production of about 55,000 barrels of oil equivalent per day. The company also holds a 10.4 per cent stake in Nigeria LNG.
NAE was incorporated in 1996 to manage Eni’s deep offshore exploration and production assets. It became the first oil and gas company in Nigeria to produce oil from the country’s deep offshore when its Abo floating production, storage and offloading (FPSO) vessel began operations in 2003.
The company has interests in nine offshore blocks in Nigeria, either as operator or co-venturer, including PML 102 and PML 103, where the Zabazaba-Etan fields are being developed.
The Dangote Petroleum Refinery and Petrochemicals’ (DPRP) decision to seek leave to appeal a Federal High Court (FHC) judgment directing the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to continue issuing petroleum product import licences to three major oil marketers is being backed by the Energy Watchdog.
This was detailed in a statement by Martins Tayo, which considers the move as necessary to protect Nigeria’s domestic refining industry and reduce dependence on imported petroleum products.
The judgment, delivered on September 28, 2026, by Justice Inyang E. Ekwo in Suit No. FHC/ABJ/CS/1363/2026, ordered the NMDPRA to continue issuing import licences to Matrix Energy, AA Rano and AYM Shafa.
The Energy Watchdog argued that the ruling undermined the objectives of the Petroleum Industry Act (PIA) and threatened investments in domestic refining capacity.
“We completely reject and condemn in totality the judgment of the lower court. It is a deeply flawed decision that disregards the clear intent of the Petroleum Industry Act and the national interest in building a robust domestic refining industry,” the statement said.
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The group further cited a reported decline in petrol imports in the first quarter of 2026, alongside increased supplies from local refineries, particularly the Dangote facility, as evidence of the country’s growing domestic refining capacity.
It argued that sustaining import licences despite rising local production could undermine efforts to achieve self-sufficiency in refined petroleum products and weaken investor confidence in the sector.
According to the organisation, Dangote Refinery’s decision to seek leave to appeal as an interested party was timely, given the potential implications of the judgment for the future of Nigeria’s downstream petroleum industry.
“The lower court’s decision amounts to a judicial endorsement of continued importation irrespective of local capacity.
“We condemn it without reservation because it threatens to reverse the hard-won gains of the last few years,” Tayo stated
The Energy Watchdog maintained that the Petroleum Industry Act was designed to encourage investment in midstream and downstream infrastructure, warning that allowing the ruling to stand could send a negative signal to investors who have committed substantial resources to domestic refining projects.
The group urged the Court of Appeal to grant the DPRP leave to appeal and ultimately set aside the FHC’s order, describing the case as significant to Nigeria’s energy security and the development of its refining industry.
“Any judgment that forces the continued importation of fuel products when local refineries can supply the market is a setback for Nigeria.
“We condemn the lower court ruling in the strongest terms and fully support the appeal filed by Dangote Refinery,” the statement concluded, “The Court of Appeal must correct this error and reaffirm that the era of automatic import licences is over.”
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