Business

Mon,27Feb2017

Business

South Africa's Steinhoff and Shoprite in merger talks

Photo via Wikicommons

Africa's biggest grocery retailer Shoprite is in talks with Steinhoff about buying its African assets in an all-share deal that would create a group with $15bn in annual sales, the pair said on Wednesday.

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South Africa's power utility Eskom to invite bids to expand nuclear capacity

The cooling towers at Eskom's coal-powered Lethabo power station are seen near Sasolburg. Photo: Denis Farrell/AP/SIPASouth African power utility Eskom will this week invite bids to build six nuclear reactors in the government's push to increase nuclear capacity, its acting CEO said on Tuesday, despite the concerns of campaign groups and economists.

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IMF advises Zambia to delay re-financing $2.8bn of eurobonds

Zambia's capital Lusaka at dusk. Photo via WikimediaZambia should delay its planned re-financing of $2.8bn worth of eurobonds until financing conditions ease, an International Monetary Fund (IMF) representative said on Monday.

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South Africa's Sibanye Gold to buy Stillwater Mining for $2.2bn

Sibanye Gold's chief executive officer Neal Froneman, left, and chairman Sello Moloko, centre, ring the closing bell at the New York Stock Exchange. Photo: Mary Altaffer/AP/SIPA

South Africa's Sibanye Gold took a major step outside its home market on Friday with a $2.2bn cash bid for Stillwater Mining, the only US miner of platinum and palladium.

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Egypt central bank governor says intervention in currency market is "history"

Egyptians walk past a poster showing a US dollar outside an exchange office in Cairo, Egypt, 3 Nov, 2016. Photo: Amr Nabil/AP/SIPAEgyptian Central Bank Governor Tarek Amer has said nothing would prompt him to intervene to prop up the pound after floating the currency in a dramatic move last month, calling those policies "history".

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Djibouti sees economy growing 7% next year

Locomotives for the new Ethiopia to Djibouti electric railway system queue outside a train station in Addis Ababa, September 2016. Photo: Elias Meseret/AP/SIPADjibouti's economy is expected to grow 7% in 2017 from a projected 6.5% this year, helped by investment in ports, telecommunications and airports, its budget minister said.

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Tanzania haggles with Nigeria's Dangote Cement over price of natural gas

In this photo taken February 2013, Aliko Dangote attends a function in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPATanzania is in talks with Nigeria's Dangote Cement on the supply of natural gas to a manufacturing plant for the building material, but negotiations are currently held up over prices, said a government body in the East African country.

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