Business

Fri,28Apr2017

Business

Tanzania says needs $46 billion in power investment by 2040

Tanzania said on Monday it needs $46.2 billion in investment over the next 20 years to revamp ageing energy infrastructure and meet soaring demand for electricity.

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EU leaders meet in Malta for roundtable talks on African migration

Italy and the European Union (EU) have pledged to finance migrant camps in Libya run by the U.N.-backed government, an agreement showed on Friday, 3 February, as part of a wider European Union drive to stem immigration from Africa.

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South Africa's Kumba pays $186 million to settle tax dispute

South Africa's Kumba Iron Ore, a unit of Anglo American, will pay $186m to settle a tax dispute with local authorities, the company said on Friday, sending its share price over 7% lower.

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Over 2 million Kenyans at risk of starvation due to drought

Animal carcasses littered the fields and stench of dead animals pervaded the air in Kenya's Marsabit County this week, the result of a prolonged period of drought which destructed forage for animals and made local population dependent on handouts to survive.

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Tanzania current account deficit narrows by 57%

Tanzania's current account deficit narrowed by 56.6% in the year to November, helped by a surge in earnings from tourism and gold exports and a decline in imports, its central bank said on Thursday.

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Ghana government says inherits budget deficit "closer to double digits"

Ghana's new government has inherited a budget deficit "closer to double digits" as a percentage of GDP than the 5% targeted for 2016 by the previous government, Finance Minister Ken Ofori-Atta told Reuters on Wednesday.

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South Africa posts trade surplus in December as economy slows

South Africa recorded a larger-than-expected surplus in December, largely due to a sharp fall in imports as the continent's most industrialised country continued to see subdued consumer and business confidence.

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