Business

Sat,31Jan2015

Business

Uganda advised to maximise oil industry by involving private sector

Uganda needs to create favourable conditions for local businesses seeking to supply the oil industry if Ugandans are to benefit from the country's oil industry.

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Zambia, the copperbelt under pressure

Insiders say 20% royalties would cause Konkola to shut. Photo©John Stanmeyer/VII/CorbisThe Zambian government and mining companies are at loggerheads over plans to increase mine royalties, while the people complain they are seeing no benefits.

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Mining firms seek clarity on Zimbabwe platinum export tax

Photo©ReutersMiners Aquarius and Impala said on Friday they are seeking clarity from Zimbabwe's government over a proposed 15 percent export tax on unrefined platinum which, if enforced, would slash their margins.

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World Bank urges Tanzania to tackle fiscal deficit

Tanzania needs urgently to deal with its growing fiscal deficit to boost economic growth, which is expected to reach 7 percent this year, the World Bank said on Thursday.

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Ghana's new oil fields to start production on schedule next year -Tullow

Ghana's new oil fields are on schedule to start production next year as development has passed the half-way stage, lead operator Tullow Oil said on Thursday.

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Nigeria trims 2015 growth forecast amid uncertainty over oil and naira

Nigeria expects economic growth this year of 5.54 percent, down from an estimated 6.23 percent for 2014, after the government trimmed expenditure because of the oil price slump, the statistics office said on Thursday.

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Chinese deal, South Sudan conflict and illicit flows at AU meet

China and the African Union (AU) have signed a landmark agreement to foster rapid industrialisation of the continent ahead of a weekend summit that opens in Ethiopia at the weekend.

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