AFRICA NEWS

Kenya 'terrorist' attack unlikely to choke economy

Nairobi - Security worries are nothing new in Kenya and so the country is unlikely to see long-term investors pull money out after the deadly attack on a Nairobi shopping mall, analysts say.However, t...

By Reuters | Published: 23 September 2013

AFRICA BUSINESS

Kenya wants to host a clearing house for China's yuan

Nairobi - Kenya wants to host a clearing house for China's yuan currency - a bold African first that would deepen the continent's ties with Beijing, already a big investor from The Cape to Cairo.Such...

By Reuters | Published: 18 September 2013

AFRICA BUSINESS

SA banks face headwinds but stable

Johannesburg - The South African banking system remains stable and well-positioned, despite international headwinds, a major professional services firm reported on Wednesday."Notwithstanding some int...

By Sapa | Published: 18 September 2013

AFRICA BUSINESS

South Africa mining bill sparks controversy

JOHANNESBURG - South Africa is open to amending a controversial mining bill that has alarmed the industry at a time when mining companies are already battling on several fronts, government members hav...

By FT | Published: 18 September 2013

AFRICA BUSINESS

SA inflation shoots up to 6.4%

Johannesburg - Consumer inflation in South Africa accelerated to 6.4% year-on-year in August from 6.3% in July, data showed on Wednesday.Economists had expected year-on-year inflation of 6.45%.On a mo...

By Reuters | Published: 18 September 2013

AFRICA BUSINESS

Retail investment into Africa tops R25m, says Imara S.P. Reid

Individual South Africans have committed more than R25 million to retail investment in sub-Saharan Africa, says Illovo-based Imara S.P. Reid Stockbrokers, believed to be the first firm to create an in...

By Carol | Published: 17 September 2013

AFRICA BUSINESS

AfDB provides US $20.1 million to support clean energy in the Comoros

The project is to be implemented in the country's three main islands (Grande Comore, Anjouan and Mohéli)TUNIS, Tunisia - The Comoros Energy Sector Support Project will receive grants totaling US $20....

By APO | Published: 14 September 2013

AFRICA NEWS

Nigerian president sacks nine ministers

LAGOS - Nigerian President Goodluck Jonathan has sacked nine ministers in his first major cabinet reshuffle since winning an election more than two years ago, a presidency spokesman said on Wednesday....

By reuters | Published: 11 September 2013

AFRICA BUSINESS

Sasol to make decision on Mozambique projects

JOHANNESBURG - PETROCHEMICALS company Sasol has yet to make a decision on whether to proceed with investments in developing two commercial oil and gas fields in Mozambique.Group CEO David Constable sa...

By Bdlive | Published: 11 September 2013

AFRICA BUSINESS

Gold wage hikes cost SA gold sector R1.5bn

Johannesburg -The Chamber of Mines said on Wednesday that wage settlements in the gold sector would amount to R1.5bn in extra costs for companies over the next 12 months.Companies and unions agreed to...

By Reuters | Published: 11 September 2013

AFRICA BUSINESS

Spar Group to set-up operations in Angola

Angola - South African-based Spar Group has announced that it will join forces with an Angolan company to open a store in the country's capital, Luanda, within the next six months.Spar Group finance d...

By Staff reporter | Published: 10 September 2013

AFRICA BUSINESS

SA's current account deficit shock

Pretoria - South Africa's current account deficit widened more than expected to 6.5% of GDP in the second quarter of 2013 from 5.8% in the first quarter as the trade gap rose substantially, the Reser...

By Reuters | Published: 10 September 2013

AFRICA BUSINESS

Striking SA gold miners start returning to work

JOHANNESBURG - Some striking South African gold mine workers have accepted a new wage offer from producers and started returning to work Friday, a union leader said.National Union of Mineworkers (NUM...

By AFP | Published: 08 September 2013

AFRICA NEWS

Sadc works on harmonising migration, labour laws

Zimbabwe, together with other Southern African Development Community countries, is working on a framework that seeks to comprehensively address labour migration and migration management in the region....

By Staff reporter | Published: 05 September 2013

AFRICA BUSINESS

Strike hits SA gold mines hard

Johannesburg - Most gold mines have been severely affected by the sector strike, the Chamber of Mines said on Wednesday.Gold producers' representative spokesperson Charmane Russell said fewer than 20%...

By Sapa | Published: 04 September 2013

AFRICA NEWS

Zambia re-basing later this year may boost economy size

Zambia's statistics agency estimates that a re-basing exercise later this year will show that the country's US$20,7 billion economy is a fifth bigger than currently measured as its mining industry has...

By Bloomberg | Published: 03 September 2013

AFRICA NEWS

SA gold strikes could last until Christmas - union

RONINGEN - If National Union of Mineworkers spokesman, Lesiba Seshoka is to be believed, the gold sector strike that begins this evening could last a great deal longer than most people are expecting."...

By mineweb | Published: 03 September 2013

AFRICA NEWS

Sadc region to feel SA strike

JOHANNESBURG - The ongoing strike by South Africa's 30 000 automobile industry workers will heavily impact on the Southern African Development Community member states who benefit from the country's bu...

By Staff reporter | Published: 29 August 2013

AFRICA BUSINESS

JSE stocks hit record highs

Johannesburg - South African stocks hit record highs for the third straight trading session on Tuesday, edging up as the weaker rand currency helped to lift battered stocks like Impala Platinum (Impla...

By Business reporter | Published: 27 August 2013

AFRICA BUSINESS

SA's economic growth quickened to 3%

Pretoria - South Africa's economic growth quickened to 3.0% quarter-on-quarter in the second quarter of 2013, compared with 0.9% in the first quarter, Statistics South Africa said on Tuesday.On an un...

By Business reporter | Published: 27 August 2013

AFRICA BUSINESS

Elumelu calls on African entrepreneurs to take business to BRICS

JOHANNESBURG - During a panel discussion held at the first BRICS Business Council meeting in Johannesburg this week, African business leader Tony O Elumelu, Chairman of Heirs Holdings,  called on...

By APO | Published: 27 August 2013

AFRICA BUSINESS

South Africa Auto strike may spread to gold, construction

Strikes that have shut plants owned by Toyota Motor Corp and General Motors Co in South Africa may spread to gold mines and construction companies, threatening more than 10 percent of the economy's ou...

By Bloomberg | Published: 26 August 2013

AFRICA BUSINESS

VTB halts Mozambique sovereign debt plan after clashes

Rebel clashes with government forces in Mozambique has prompted VTB Group, Russia's second-largest bank, to halt a proposed sovereign debt transaction in the country. Rebels tied to the opposition Moz...

By Bloomberg | Published: 23 August 2013

AFRICA BUSINESS

SA carmaker talks resume on fourth strike day

JOHANNESBURG - South African workers at carmakers including Toyota Motor Corp, Bayerische Motoren Werke AG (BMW) and General Motors Co will strike for a fourth day today while employers reopen wage ta...

By Bloomberg | Published: 22 August 2013

AFRICA BUSINESS

General Electric upbeat on Africa's economic prospects

VENTURES AFRICA - The global power utility, General Electric, on Monday said it was happy to do business in Africa, particularly East Africa, as the continent was facing a firm economic surge.Jay Irel...

By Business reporter | Published: 22 August 2013

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