Business

Fri,27Mar2015

Business

Zimbabwe revenue authority in bank raids

Zimbabwe's tax collector, the Zimbabwe Revenue Authority (ZIMRA) is raiding thousands of bank accounts of companies with tax arrears, as the country increasingly becomes desperate to shore up the credit side of its balance sheet.

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South Africa: Eskom headaches continue as suspended CEO takes action

Eskom's suspended CEO Tsediso Matona has taken his case to the Commission for Conciliation, Mediation and Arbitration (CCMA)Suspended chief executive officer of South Africa's power utility Eskom has gone to arbitration seeking reinstatement as the woes plaguing the electricity supplier take a new twist.

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Zimbabwe domestic borrowing up 52 per cent

Finance Minister says government is seeking to reduce the wage bill. Photo©ReutersZimbabwe government's domestic borrowing jumped 52 percent to $544.03 in January year-on-year from $358.80 percent in the same period a year ago, the central bank said on Thursday.

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Finance: Egypt's Arab Investment Bank and IDB unit launch leasing firm

Egypt's Arab Investment Bank and the private sector arm of the Islamic Development Bank will launch an Islamic leasing firm in the third quarter, aiming to provide sharia-compliant financing to small businesses.

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South Africa: Workers at Eskom's Medupi plant locked out, union says

Photo©ReutersAbout 20,000 workers at South Africa's Eskom Medupi power plant were locked out of the construction site on Thursday following a one-day strike over poor living conditions and higher pay, a union official told Reuters.

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Telecoms: Vodafone CEO says no talks so far with South Africa over Vodacom stake

Photo©ReutersTelecoms giant Vodafone has so far not held talks with South Africa over the London-listed firm buying Pretoria's stake in its local subsidiary Vodacom, chief executive Vittorio Colao said on Wednesday.

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Malawi gets $18 million IMF aid after commitment to fight corruption

The International Monetary Fund will provide $18.1 million to Malawi after its government promised to tackle the corruption that led to a suspension of aid by donors following large-scale graft involving public funds.

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