Business

Wed,24May2017

Business

Zambia President steps into row with First Quantum Minerals

Zambia's President Edgar Lungu speaks during the 71st session of the United Nations General Assembly, Sept. 20, 2016. Photo: Frank Franklin II/AP/SIPAZambia's president Edgar Lungu has called for an out of court settlement with First Quantum Minerals, which is being sued for $1.4 bn by a state-owned firm, the presidency said on Thursday.

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Commodity exports: turning resource curse into economic engine

Frank Augstein/AP/SIPA

A cargo vessel passes by as the sun rises over the Indian Ocean in Durban, South Africa. Frank Augstein/AP/SIPA.

By: Ruslan Kharlamov

 Last month I attended the 5th edition of the Africa CEO Forum, a two-day event dedicated to the continent's socio-economic development. One of the forum’s key—and, unfortunately, protracted—discussions was how to end Africa’s resource curse and climb up the value chain.

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Nigeria should simplify taxes, cut fees to boost tech sector: Google

A staff member wears a T-shirt bearing the name of Google Africa, in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPANigeria's government should simplify taxes and reduce fees involved in laying fibre optic cables to encourage development of infrastructure for the technology industry, Google's manager in the West African country said on Tuesday.

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South Africa can avert further downgrades: central bank governor

Lesetja Kganyago speaks to the media in Washington, 2011. Photo: Jacquelyn Martin/AP/SIPASouth Africa is capable of quickly addressing concerns raised by credit ratings agencies to avoid further downgrades, central bank governor Lesetja Kganyago said on Thursday.

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South Africa's MTN records higher Q1 revenue on strong data

 An MTN advertisement is seen on a giant electronic board over a slum in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPAMTN Group reported a 7.1% rise in first-quarter group revenue helped by a strong performance in data services, Africa's biggest mobile phone operator said on Wednesday.

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Egyptian non-oil business activity shrinks for 19th month in April: PMI

 Egyptian workers load a truck with sacks of flour at a flour mill in Cairo, Egypt, Aug. 17, 2010. Photo: Nasser Nasser/AP/SIPAEgyptian private-sector activity shrank at the slowest pace in nine months in April as output and new orders continued to decline, a survey showed on Wednesday.

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Norilsk Nickel files lawsuit against Botswana over Nkomati stake sale

German Chancellor Angela Merkel, right, welcomes the President of Botswana, Seretse Khama Ian Khama, left, in Berlin, Germany, March 7, 2017. Photo: Michael Sohn/AP/SIPARussia's Norilsk Nickel said on Friday it had filed a lawsuit against the government of Botswana to try to recoup $271 million plus damages it says it is owed from the aborted sale of a 50% stake in the Nkomati mine in South Africa.

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