Business

Thu,30Mar2017

Business

Ghana's only oil refinery shut after explosion

Ghana's only oil refinery, the Tema Oil Refinery, is shut after an explosion at a newly installed 5.8-million-euro crude oil heating unit, a senior union official said on Friday.

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Uganda's Crane Bank assets, liabilities transferred to dfcu

The assets and liabilities of Uganda's Crane Bank, which was put into receivership, have been transferred to dfcu, another mid-tier institution, the central bank said on Friday.

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AfDB says gives Comoros $20 mln for road network

President of Comoros, Azali Assoumani addresses reporters after a meeting with French president Francois Hollande at the Elysee Palace in Paris, France, Oct. 4, 2016. Photo: Christophe Ena/AP/SIPAThe African Development Bank is giving Comoros a $20.4 million grant to help it improve and expand its road networks, a move that will boost its agriculture and tourism sectors.

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Tanzania to receive $300m World Bank loan for Dar es Salaam port expansion

Dar es Salaam’s port. Photo: Khalfan Said/AP/SIPATanzania will receive a $305m loan from the World Bank to expand its main port in it main commercial city Dar es Salaam, where congestion and inefficiencies are hampering ambitions to transform the east African nation into a regional transport hub.

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Home-grown African wealth funds seeking foreign partners to fix infrastructure gap

People buy fuel at a petrol station in Lagos,Nigeria. Photo: Sunday Alamba/AP/SIPAAfrica, famously short of new roads, ports and power stations, is increasingly leaning on its own sovereign investment funds to help fix its infrastructure gap.

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Equatorial Guinea says it expects decision soon on OPEC membership bid

Russian Minister of Energy Alexander Novak, left, and Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia attend a news conference after a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, December, 2016. Photo: Ronald Zak/AP/SIPAAfrica's number three oil producer Equatorial Guinea has held "fruitful" discussions and expects a decision soon on an offer to join the Organisation of the Petroleum Exporting Countries (OPEC), the country's energy minister told Reuters on Wednesday.

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Africa Finance Corp issues $150 million debut sukuk

 Nigerian Muslims offer prayers on the first Friday of Ramadan at the central Mosque in Lagos, Nigeria, Friday, June 10, 2016. Photo: Sunday Alamba/AP/SIPAAfrica Finance Corp (AFC) said it issued a three-year $150 million sukuk, becoming the first African government-backed entity to sell an Islamic bond.

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