Business

Mon,21Aug2017

Business

South Africa's new finance minister responds to ratings downgrade

South Africa's rand, bonds and banking shares tumbled sharply on Tuesday (April 4) after S&P Global Ratings cut the country's credit rating to junk in response to President Jacob Zuma's move to sack its respected finance minister.

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The Africa Report 2017

altTHE AFRICA REPORT DEBATES 2017
Is Africa’s Development an Illusion?
Marrakech, Morocco 7th April 2017 

The continent’s brightest talents and sharpest intellects clashed in our fifth debate on Friday, 7th April in Marrakech. The debate, launched by Mo Ibrahim, was part of the Mo Ibrahim foundation's 10th anniversary celebrations. The debate argued whether Africa's development is an illusion.

View the photo's, watch the videos and listen to the audio of this debate

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Congo businesses close as opposition strikes over election delays

Businesses shut down in the Congolese capital Kinshasa on Monday (April 3) as the opposition called a general strike after a breakdown in talks with President Joseph Kabila's allies last week raised fears of renewed violence.

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Ghana names monetary policy expert Addison as central bank governor

Ghana's President Nana Akufo-Addo named senior monetary policy expert Ernest Addison as central bank governor on Thursday, a day after his predecessor resigned for personal reasons, a statement from the presidency said.

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Kenya's central bank seeks bidders for stake in Chase Bank

Kenya's central bank on Thursday invited investors interested in buying a stake in Chase Bank to submit their bids, with the aim of concluding the transaction by the end of September.

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Expectations Gordhan will go leave South African markets on edge

South Africa's currency and bonds weakened again on Wednesday as expectations rise that President Jacob Zuma will sack finance minister Pravin Gordhan following the funeral this afternoon of anti-apartheid icon Ahmed Kathrada.

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Barclays in talks to sell Zimbabwe bank to Malawi's First Merchant Bank

Barclays is in exclusive talks to sell its stake in its Zimbabwe unit to Malawi-based First Merchant Bank, the lenders said on Tuesday, as the British bank continues its exit from Africa.

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