Business

Wed,28Jun2017

Business

S.Africa's central bank governor says raising rates won't lure investment

Lesetja Kganyago speaks to the media about a G-24 meeting, April 14, 2011, in Washington. Photo: Jacquelyn Martin/AP/SIPASouth Africa's central bank governor Lesetja Kganyago said on Tuesday that raising lending rates would do little to attract new investments to the country after its credit rating was downgraded to junk.

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Chinalco proposes taking entire Guinea Simandou iron ore mine

A crane drops iron ore imported from Australia at a port in Rizhao, in east China's Shandong province, March 19, 2010. Photo: AP/SIPAChinalco has asked Guinea to let it take over the whole of the troubled Simandou iron ore mine project, sources familiar with the matter say, as Beijing pursues a global strategy to secure key resources for its vast economy for decades to come.

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Kenya developers fit homes and buildings with solar technology

In this photo taken June 30, 2016, a Ugandan casual worker levels the ground at a solar plant in Soroti, Uganda. Photo: Stephen Wandera/AP/SIPAWith an aim to promote clean energy and reduce electricity costs, Kenya is one of the countries leading Africa's push toward solar energy.

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South Africa's Eskom says Molefe reinstated as chief executive

In this photo taken March 10, 2015 electricity pylons cross the skyline of Johannesburg city, background. Photo: Themba Hadebe/AP/SIPAEskom's former chief executive Brian Molefe will return to his job next week, the South African power utility said on Friday, about five months since he stepped down after being implicated in a report by the anti-graft watchdog into alleged influence-peddling.

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Protesters disrupt platinum producer Lonmin's operations in South Africa

Razor wire set up outside the entrance to the Lonmin's platinum mine is seen in Marikana near Rustenburg, South Africa, Jan. 23, 2014. Photo: Themba Hadebe/AP/SIPAPlatinum producer Lonmin said on Thursday community protesters demanding 1,000 jobs were disrupting output, damaging property and intimidating employees around its Marikana and other operations in South Africa.

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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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