Business

Fri,25May2018

Business

Unilever and consumer rivals raise bets on Nigeria

Pedestrians shop at a busy Balogun Market in Lagos, Nigeria, Tuesday, Sept. 5, 2017. Photo: Sunday Alamba/AP/SIPAWith Africa's most populous country out of recession, and the wider region on the path to growth, the world's consumer goods companies are looking to cash in.

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Kenya's Nakumatt Supermarkets goes into administration

Employees of the supermarket chain Nakumatt stock shelves in the Westgate Mall, Nairobi, Kenya, July 14, 2015. Photo: Ben Curtis/AP/SIPAA Kenyan court on Monday granted Nakumatt Supermarkets protection from its creditors, allowing what was once Kenya's biggest retailer to go into voluntary administration.

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Botswana to spend $495 mln to extend power grid to northwest

  A young girl uses light from a candle as she sells fruit on a sidewalk in Harare, Zimbabwe. Photo: AP Photo/Tsvangirayi MukwazhiThe Botswana Power Corporation (BPC) on Monday launched a 4.8 billion pula ($495 million) project to build an electricity transmission line to connect the northwest of the country, a centre of copper mining and tourism, to the national grid.

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Steinhoff to place shares in PSG Group worth around $620 million

A worker at the Stock Exchange in Johannesburg, South Africa uses his mobile phone April 4, 2017. Phone:Denis farrell/AP/SIPASouth African retailer Steinhoff plans to sell about $620 million of shares in investment firm PSG Group as it scrambles to plug a liquidity gap after it disclosed "accounting irregularities".

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Africa's corporate crystal ball: Banking, agribusiness and services leaders on the year ahead

ALL RIGHTS RESERVEDThe Africa Report speaks to leaders in banking, agribusiness and services to find out their views on what the year ahead may hold in their particular sector

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Steinhoff secures 60 mln euros lifeline for European operations

EU bank notes. Photo: Fluger Rene Horazny Jose/AP/SIPARetailer Steinhoff's South African lenders have backed a move to prop up its troubled European operations with liquidity from healthier South African subsidiaries as the group scrambles to close a funding gap.

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Nigeria passes major oil reform bill after 17 year struggle

 Nov. 19, 2012: petrol attendants filled cars at a Total petrol station in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPANigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in the country's oil industry.

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