Business

Sat,24Jun2017

Business

Nigeria's biggest airline Arik Air goes into receivership

Nigeria's Arik Air is in receivership due to its inability to pay workers and creditors, prompting the government to take control of the country's biggest airline, state-owned "bad bank" AMCON said on Thursday.

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Kenyan court says closing Dadaab refugee camp would be unconstitutional

A Kenyan court said on Thursday it would be unconstitutional for the government to close a sprawling refugee camp housing mostly people who have fled unrest in neighbouring Somalia.

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Bringing together investors with AFSIC

AFSIC Logo100x140 

Bringing together investors with AFSIC
Rupert McCammon, Founder and Managing Director of the Africa Financial Services Investment Conference (AFSIC), highlights key elements of the upcoming AFSIC 2017.

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Nigeria fine to push South Africa's MTN to 2016 loss, shares fall

South African mobile phone operator MTN Group expects to report a full-year loss due to a $1bn regulatory fine in Nigeria and underperformance there and at home, it said on Wednesday, sending its shares to a two-month low.

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Ethiopian Airlines revenues rise, says US travel ban causing confusion

Ethiopian Airlines' chief executive said on Tuesday that a US order temporarily halting immigration from seven Muslim-majority states was creating confusion for passengers but was not having much impact overall on its operations.

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Recession-hit Nigeria targets economy to grow at annual 7 percent by 2020

Nigeria is targeting economic growth of at least 7% a year by 2020, the Ministry of Budget and National Planning said on Tuesday, a far cry from its current recession, the first in 25 years.

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Botswana's growth to almost double as commodity sales rebound

Botswana's economy will grow by nearly double in 2017 compared to the previous year as Africa's largest exporter of diamonds shakes off a slump in global commodity prices and electricity shortages.

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