Nigeria has said it is owed a total of $12.7bn by more than a dozen companies for allegedly not declaring exports of crude oil to the United States between 2011 and 2014, according to court documents seen by Reuters on Wednesday.
Flour Mills of Nigeria has exported 10 percent of its locally processed soya bean products for the first time to feed mills in Europe and North Africa, its chairman said, helped by a weaker domestic currency.
Kenya's commercial banks may stop extending loans to borrowers deemed higher risk after the government capped commercial lending rates and the central bank cut the benchmark interest rate, the central bank governor said Wednesday.
The probability of a credit rating downgrade for South Africa is about a third, Moody's said on Tuesday, warning however that a cut was likely if economic growth fell below its estimated growth of 0.2% this year.
South Africa's current account deficit narrowed more than expected in the second quarter, data showed on Tuesday, supporting Finance Minister Pravin Gordhan's view that Africa's most industrialised economy was not in "recession territory".
GlaxoSmithKline is to sell its portfolio of anesthetic drugs to South Africa's Aspen Pharmacare for up £280m ($372m) as part of a drive by the British drugmaker to focus on core therapy areas.
- South Africa car makers sign 3-year wage deal with union
- South Africa's Oakbay "implores" banks to reopen its accounts
- Steinhoff reports 3% drop in earnings per share
- More than just pipe dreams: Mozambique’s gas may power its expansion
- Kenya steps closer to new container terminal at Mombasa port
- Facebook chief courts Africa's politicians, entrepreneurs and developers in first trip
- Rwanda signs $818 million deal for new international airport