Africa's biggest pension fund, Public Investment Corporation, has sought approval from South Africa's central bank to raise its stake in Barclays Africa, two sources with direct knowledge of the matter said.
Safaricom raised its forecast for full-year core profit on Friday after a 31% jump in the first six months of the year, driven mainly by growth in revenue from mobile data services.
Zain, Kuwait's biggest telecom operator by subscribers, on Thursday said it will pay $129m to Bharti Airtel over a settlement related to the sale of Zain's Africa operations to the Indian firm in 2010.
The chief executive of Shoprite will retire in December, the company said on Monday, ending his nearly four decades at the helm of the supermarket group he transformed from a eight-store start-up into an $8bn behemoth.
- Mark Anderson and Dotto Kahindi in Dar es Salaam
Tanzanian billionaire Mohammed Dewji, who is head of Mohammed Enterprises Tanzania Limited (MeTL) Group, is spreading his trading, commodities and manufacturing businesses around East and Southern Africa, positioning them to benefit from regional integration.
Foreign direct investment in Mauritius grew 69% year-on-year in the first half of 2016, to 7.96bn rupees ($222m), driven by real estate, financial services and manufacturing, the board of investment said on Thursday.
Tunisia will offer foreign investors and financiers participation in $50bn of projects as it seeks to create jobs to maintain political stability, the country's investment minister said.
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