South African President Jacob Zuma said on Thursday he backs Finance Minister Pravin Gordhan but cannot intervene in a police investigation over a suspected spy unit at the tax service, signalling a prolonged tussle that could rock markets further.
- Mfuneko Toyana, additional reporting by James Macharia, Joe Brock, Tanisha Heiberg
- Sonali Paul
Sundance Resources said on Thursday Australian police are investigating allegations that the company may have bribed politicians in Congo Republic to win permits to pursue a major iron ore project.
- Wendell Roelf
South African Finance Minister Pravin Gordhan said on Wednesday that the domestic growth outlook remained bleak, reiterating that economic expansion would be close to zero percent this year as forecast by the central bank.
Kenya's President Uhuru Kenyatta signed into law on Wednesday a bill capping commercial bank lending rates, saying banks had in the past failed to live up to pledges to lower their rates when parliament tried to introduce caps.
- Oludare Mayowa
Investors sold shares in Nigerian banks on Wednesday, a day after the central bank suspended nine lenders from foreign exchange transactions for failing to remit money owed to the government.
- George Obulutsa
Kenya has finalised an agreement with oil explorer Tullow Oil and its partners Africa Oil and A.P. Moller-Maersk for the development of a crude oil pipeline, as it bids to become an oil exporter, the president's office said.
- Chijioke Ohuocha, additional reporting by Oludare Mayowa
Nigeria's central bank has suspended nine banks from the interbank currency market for failing to remit money owed to the government, according to banking sources.
- South African assets sink after police summon finance minister
- Shoprite lifts profit as Africa keeps buying despite commodity crunch
- Energy: Tanzania's President Magufuli orders officials to speed up LNG project
- Egypt: Minister under pressure to resign after wheat commission's corruption report
- IMF evaluates Ghana's fiscal outlook, could review assistance program
- Zimbabwe stops hiring public workers as it struggles to pay
- Egypt to end fuel subsidies within three years