Business

Tue,20Feb2018

Business

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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Game-changing fintech, aerospace and energy: Africa's tech test grounds

 

CYRIL NDEGEYA/AFPNecessity is still the mother of invention, and African companies are leading the way with game-changing fintech, aerospace and energy projects born from local problems

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Volkswagen to start Rwanda car assembly in May

April 28, 2017: An e-Golf electric car with the VW logo on a rim is pictured in the German car manufacturer Volkswagen Transparent Factory in Dresden, eastern Germany.Photo: Jens Meyer/AP/SIPAGermany's Volkswagen AG said on Thursday it would start assembling three vehicle models at a new plant in Rwanda in May for local sale and use in its own new ride-sharing service.

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President says Ghana's economy is back on track, highlights free secondary education efforts

 Ghana's President Nana Akufo-Addo, left, talks with another delegate before a meeting of African Union countries at the UN General Assembly, Sept. 20, 2017, at U.N headquarters. Photo: Julie Jacobson/AP/SIPAGhana's economy is rebounding and the major commodity exporter is poised to wean itself off bailouts through sustained fiscal discipline and a battle against corruption, President Nana Akufo-Addo said on Wednesday (January 17).

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