Walmart to solar: Africa's top business news

STORY: Here are five business stories making headlines in sub-Saharan Africa this week.

U.S. retail giant Walmart has signed an agreement to begin buying the 47% stake in South Africa's Massmart that it does not already own, the companies said on Thursday (September 1).

Massmart, which has been posting losses and losing market share to bigger rivals, said Walmart had offered 6.4 billion rand, or $373m, to buy the remaining shares and delist from the Johannesburg Stock Exchange.

Zambia's debt restructuring will be a mixture of haircuts and maturity extensions, its finance minister has said.

On Wednesday (August 31) the IMF approved a $1.3 billion program to rebuild the southern African country's economy, ravaged by mismanagement and the global health crisis.

Finance minister Situmbeko Musokotwane said some creditors would accept a haircut to get paid back faster, while others would opt for the debt to be paid over a longer period of time.

Dubai's Emirates airline has said it will resume flights to Nigeria's megacity Lagos.

That's after the Central Bank released a portion of funds the carrier had earned in the country, but not been able to repatriate.

Also in Nigeria, the head of state oil company NNPC has said every section of society is complicit in the theft of millions of barrels of oil.

Mele Kyari added that make-shift pipelines and stolen fuel had even been found in churches and mosques.

Large-scale theft has throttled exports and hit the finances of Africa's biggest oil producer.

And finally Botswana has taken a step closer to its first utility-scale solar power plant.

State-owned Botswana Power Corporation has awarded Norwegian company Scatec a contract to build the 50 MW plant.

The southern African country is targeting at least 18% of national production generated from renewables by 2030.