Business

Wed,20Jun2018

Business

Nigeria's parliament passes record 9.12 trln naira 2018 budget

Nigeria's President Muhammadu Buhari, left, laughs with Gabon's President Ali Bongo Ondimba, right, at the AU summit in Addis Ababa, Ethiopia, Jan. 28, 2018.Photo: Mulugeta Ayene/AP/SIPANigeria's parliament passed a record 9.12 trillion naira ($29.8 billion) budget for 2018 on Wednesday aimed at boosting growth in west Africa's biggest economy nine months before the country's next presidential election.

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Uganda power distributor Umeme to spend $1.2 bln to expand grid

 The new Kiira Dam, left, runs in parallel with Nalubaale Dam in Jinja, Uganda, Nov. 2, 2006. The two dams help generate electricity for Uganda, using water flowing from Lake Victoria, but they have been blamed by some people for the receding water levels in the lake. (AP Photo/Kirsty Wigglesworth)/WARMER_WORLD_AFRICAN_LAKES_NY457/HFR 12-10-06. ADVANCE FOR SUNDAY, DEC. 10/0612042155 Auteurs  : KIRSTY WIGGLESWORTH/AP/SIPAUgandan power distributor Umeme Ltd plans to spend $1.2 billion in the next seven years to revamp and expand the grid and has hired an adviser to explore options for raising the money, the company's chief executive said on Wednesday.

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ICBC targets Chinese visitors to Kenya with new credit card

AP photosThe Industrial and Commercial Bank of China (ICBC) has launched a credit card in partnership with Kenya's Stanbic Bank to tap a growing pool of Chinese tourists visiting the East African nation.

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Britain's competition watchdog to examine Sibanye-Lonmin deal

South-Africa-Squalid-Mine-Housing-APBritain's Competition and Markets Authority (CMA) said on Tuesday it would examine whether a takeover of miner Lonmin by South Africa's Sibanye-Stillwater would reduce competition.

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Zimbabwe bans banks from processing payments for cryptocurrencies

14052018ZimbabweZimbabwe's central bank has stopped local banks from trading or processing payments linked to cryptocurrencies like bitcoin, its governor said on Monday, but stopped short of banning local cryptocurrency trading exchanges.

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South African Airways to get $400 million capital injection after plea for cash: CEO

People queue at the SAA ticket counter desk at OR Tambo International airport in Johannesburg, South Africa, April 26, 2017. Photo: Themba Hadebe/AP/SIPASouth Africa has promised another 5 billion rand ($400 million) capital injection to help its struggling state airline meet urgent financial obligations, the CEO of South African Airways (SAA) said on Thursday.

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Egypt signs MOU with China's GCL for $2 bln solar panel factory

10052018EgyptChina's GCL Group has signed a memorandum of understanding (MOU) with Egypt's ministry of military production to build a solar panel facility at a cost of up to $2 billion, state-run newspaper Al-Ahram reported on Thursday.

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