Business

Tue,28Mar2017

Business

South Africa's Nedbank slashes Ecobank value by $293 million

South Africa's Nedbank booked a $293 million writedown on the value of its west African associate Ecobank on Tuesday, and reported its slowest growth in annual profit since 2009.

Read more...

South Africa's Blue Label Telecom signs deal to lower Cell C's debt

South Africa's Cell C and its creditors have agreed a deal with Blue Label Telecoms and an unnamed investor that would lower the mobile phone firm's debt to 6 billion rand ($463 million), Blue Label said in a statement.

Read more...

Uganda's GDP to grow 5.5 pct, boosted by oil, rate cuts

Uganda's economy will grow 5.5% in the year to June 2018, edging up from estimates for the current fiscal year thanks to lower borrowing costs and higher oil sector investments, a budget paper seen by Reuters on Monday showed.

Read more...

Millions at risk from African famine worsened by Boko Haram: U.N.

Aid agencies must get food to close to 3 million people by July to avert a famine in Africa's Lake Chad region caused by drought, chronic poverty and Islamist insurgents Boko Haram, the United Nations said on Friday as it launched a funding appeal.

Read more...

South Africa's Liberty to buy 75 pct stake in Nigerian insurer

South Africa's Liberty Holdings will acquire a 75% stake in a Nigerian long-term insurer for $12m, the company said on Friday, after reporting a 38% decline in earnings.

Read more...

South Africa's Barclays Africa CEO "deeply regrets" role in FX rigging

South African lender Barclays Africa asked for forgiveness on Thursday for its role in rigging the local currency, a scandal that has raised questions over the dominance of four big local banks.

Read more...

ARM Cement says to boost its Kenya plant capacity in next 12-14 months

ARM Cement plans to expand grinding capacity at its one million tonne-a-year plant in Kenya by 50% over the next year to meet rising demand, its chief executive said.

Read more...

Subscriptions Digital EditionSubscriptions PrintEdition

FRONTLINE

NEWS

POLITICS

HEALTH

SPORTS

BUSINESS

SOCIETY

TECHNOLOGY

COLUMNISTS

Music & Film

SOAPBOX

Newsletters

Keep up to date with the latest from our network :

subscribe2

Connect with us