Business

Mon,20Nov2017

Business

Congo tells consortia to form joint bid for Inga 3 hydro project

People arrive by river boat, center rear, in Kinshasa, Democratic Republic of Congo, Tuesday, April 2014. Photo:John Bompengo/AP/SIPADemocratic Republic of Congo on Tuesday asked Chinese and Spanish consortia vying to develop a long-delayed $14 billion hydroelectric project to join together and submit a single bid.

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South Africa's industrial policy is bearing fruit

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South Africa's trade and industry minister Rob Davies​ speaks to The Africa Report about developing regional value chains and the importance of the state’s role in getting positive social and economic outcomes from the private sector​.

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Zimbabwe bans grain imports after higher maize output

A woman gathers maize grain she harvested on the outskirts of Harare, Zimbabwe Oct 2012. Photo: Tsvangirayi Mukwazhi/AP/SIPAZimbabwe has banned grain imports to protect local farmers after producing enough to meet domestic demand, a government minister said on Tuesday, just a year after a devastating drought left more than 4 million people in need of food aid.

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Chairman of South Africa state power utility Eskom resigns

A worker from Eskom disconnects cables that were connected illegally by residents in Soweto, South Africa, 2010. Photo: Tawanda Mudimu/AP/SIPAThe chairman of South Africa state-run power utility Ben Ngubane has resigned and former acting chief executive Zethembe Khoza  will fill the role on an interim basis, the company and the ministry of public enterprises said on Tuesday.

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S.Africa's Sibanye says $1 bln rights issue oversubscribed

Sibanye Gold CEO Neal Froneman, left, and Chairman Sello Moloko, center, ring the closing bell at the NY Stock Exchange, Feb 2013. Photo: Mary Altaffer/AP/SIPASibanye Gold's $1 billion rights issue, aimed at raising capital to help fund its acquisition of U.S. platinum producer Stillwater, was oversubscribed by almost five-fold, the company said on Monday.

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Nigeria's presidency to sign 2017 budget into law next week

 Nigeria's President Muhammadu Buhari, left, and Vice President Yemi Osinbajo, right, at the presidential palace in Abuja, Nigeria,March 13, 2017. Photo: Sunday Aghaeze/AP/SIPANigeria's presidency is expected to sign the 2017 budget into law next week, the speaker of the lower chamber of parliament said on Friday, in an effort to pull Africa's biggest economy out of its first recession in 25 years.

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Allianz shakes up African operations

09062017allianzThe world's largest insurance company, Germany-based Allianz, is in the midst of a major overhaul of its African operations.

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