Business

Sat,18Nov2017

Business

McKinsey worked with S.African firm after learning of Gupta links: sources

In this photo taken in September 2010 Atul Gupta is seen outside magistrates courts in Johannesburg. Photo: AP/SIPAGlobal consultancy McKinsey worked with a firm in South Africa for four months after learning it was controlled by the Gupta brothers, business friends of President Jacob Zuma accused of corruption, four sources familiar with the deal said.

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McKinsey worked with S.African firm after learning of Gupta links: sources

In this photo taken in September 2010 Atul Gupta is seen outside magistrates courts in Johannesburg. Photo: AP/SIPAGlobal consultancy McKinsey worked with a firm in South Africa for four months after learning it was controlled by the Gupta brothers, business friends of President Jacob Zuma accused of corruption, four sources familiar with the deal said.

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Kenyan PMI hits record low in October on political woes

Kenya's opposition leader Raila Odinga leaves after making a statement to the media in Nairobi, Oct. 31, 2017. Photo: Ben Curtis/AP/SIPAPrivate sector activity in Kenya dropped to a record low in October as prolonged political instability exerted a heavy toll on the economy, survey data showed on Friday.

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Nigeria moves towards border controls on hard currency

Oct. 20, 2015; ,money changer counts Nigerian naira currency at a bureau de change in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPAA draft law to ease a dollar shortage by restricting movement of hard currency in and out of Nigeria passed its second parliamentary reading on Wednesday.

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African Development Bank says could consider $400 mln loan for Nigeria

Money from the AFDB would be redirected to specific projects in Nigeria. In this photo, Felix Okilo clears refuse at the back of his wooden house in the Ajegunle area of Lagos, June, 2005. Photo: GEORGE OSODI/AP/SIPAThe African Development Bank said on Tuesday it could consider an additional $400 million for Nigeria to support its growth and recovery efforts and was in talks with the government on how to help it reinvigorate Africa's largest economy.

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S.Africa's Sibanye confirms over 2,000 layoffs at gold mines

Feb. 20, 2014 - miners are photographed underground at the South Deep gold mine south of Johannesburg.Photo: Themba Hadebe/AP/SIPASouth African precious metals producer Sibanye-Stillwater confirmed on Wednesday that it had laid off more than 2,000 gold miners as it shuts its loss-making Cooke shafts where illegal mining syndicates have plagued its operations.

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Kenya's Nakumatt, once East Africa's top retailer, seeks protection from creditors

The interior of a Nakumatt mega store is seen in Nairobi, May 26, 2007. Photo: SAYYID AZIM/AP/SIPAKenya's Nakumatt is seeking court protection to rebuild its fortunes after creditors demanded millions of dollars owed by a company that grew from a small Rift Valley bed shop to become East Africa's biggest supermarket chain.

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