Business

Sat,25Feb2017

Business

Fastjet chairman resigns as airline seeks more funds

Photo via fastjet.comAfrican budget airline Fastjet said it would seek more funds sooner than originally expected to achieve a turnaround, prompting Chairman Colin Child to resign on Friday after months of the company battling its second-biggest investor to retain him.

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Uganda cocoa output expected to rise 15% in three years

Cocoa beans being left out to dry near Duekoue, Ivory Coast. Photo: Rebecca Blackwall/AP/SIPAUganda's cocoa production is likely to increase by 15% over the next three years, boosted by additional maturing trees in the country's western region, a leading industry executive said today.

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Consortium led by French group Total wins Ivory Coast LNG deal

French oil major Total has established a consortium to build a liquid natural gas import terminal  in Ivory Coast. Photo: ReutersFrench oil major Total, the Ivorian state oil company and four other partners have formally established a consortium to build a liquid natural gas (LNG) import terminal meant to feed the country's growing electricity consumption.

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Boost to Algeria's economy through steel plant joint venture

Most of Algeria's steel is imported at the moment. Photo: Reuters/stockDubai-based conglomerate Emarat Dzayer Group said it had signed a joint venture agreement to develop a $1.6 bn steel factory in Algeria, boosting the North African country's drive to diversify its economy and attract foreign investment.

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South Africa's Tiger Brands FY profit up after Nigeria sale

Photo via Tiger BrandsSouth Africa's biggest consumer foods maker, Tiger Brands, reported a 19% rise in full-year profit today, after disposing of a loss-making Nigerian unit.

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Uganda names Sinopec among firms interested in refinery

Uganda's President Yoweri Museveni speaks at an oil conference in Kampala on 22 November. Photo: TwitterOil firms including China's Sinopec have expressed an interest in developing Uganda's planned oil refinery and an investor for the project will be selected by February 2017, a top government official said on Tuesday.

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South Africa slows nuclear power expansion plans

South Africa's Koeberg nuclear power station is seen on the outskirts of Cape Town. Photo: Schalk van Zuydam/AP/SIPASouth Africa's government has slowed its nuclear power expansion plans, according to a draft energy paper, although state energy utility Eskom said the country should stick to its original plan of bringing a new plant online by 2025.

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