Business

Thu,27Nov2014

Business

Somalia eyes oil, as new bourse sees seven firms listing in 2015 opening

The Somalia Stock Exchange expects seven companies in the telecoms, financial services and transport sectors to list their shares when the bourse is set up in 2015, its founder said.

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Zimbabwe: Reduced revenues now a norm - Moyo

Photo©ReutersZimbabwe's Finance minister, Patrick Chinamasa on Thursday presents the country's 2015 national budget amid low expectations as most captains of industry, stakeholders and citizens feel that it is nothing more than a routine exercise.

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Rare 40.23-carat ruby unearthed in Mozambique

File PhotoBritish precious stones miner Gemfields Plc said it had found a 40.23-carat rough ruby at its Montepuez deposit in Mozambique, and termed the find as "one of the most important rubies unearthed in recent times".

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Nigeria bourse aims to offer derivatives by 2016

Photo©ReutersThe Nigerian Stock Exchange plans to start allowing trading by 2016 of derivatives such as futures and options in interest rates, currencies and equity indexes, its chief executive said.

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Nigeria's currency devalued by 8 percent amid oil price slump

Photo©ReutersNigeria's central bank devalued the naira by 8 percent and raised interest rates sharply on Tuesday, as it sought to stem losses to its foreign reserves from defending the currency against weaker oil prices.

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Finance: Egypt's small borrowers have big potential

Low-tech entrepreneurs are queueing up for loans, but until the new law comes into force only banks and NGOs can offer them. Photo©Amr Dalsh/ReutersA new law permitting non-bank for-profit lending institutions may unleash a revolution in microfinance by allowing more actors and innovators to get involved.

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Kenya: Central bank chief appeals abuse-of-office charge

Kenya's Central Bank Governor Njuguna Ndung'u. Photo©ReutersKenya's central bank chief filed an appeal on Tuesday asking a court to throw out a case accusing him of abusing his office through his involvement in issuing a tender to install security software at the bank.

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