NewsSouthern Africa

Sat,19Aug2017

Southern Africa

Zambia President steps into row with First Quantum Minerals

Zambia's President Edgar Lungu speaks during the 71st session of the United Nations General Assembly, Sept. 20, 2016. Photo: Frank Franklin II/AP/SIPAZambia's president Edgar Lungu has called for an out of court settlement with First Quantum Minerals, which is being sued for $1.4 bn by a state-owned firm, the presidency said on Thursday.

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Monopoly money

 Waldo Swiegers/Bloomberg via Getty Images

Christoffel Wiese is a South African businessman and billionnaire who built Shoprite Holidings Ltd., a supermarket retailer, from the ground up. Waldo Swiegers/Bloomberg via Getty Images.

By: Marcia Klein

One of South Africa’s richest business leaders talks exclusively to The Africa Report about his commercial successes and failures, the debates about race and economics in South Africa and his criticism of the government

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South Africa can avert further downgrades: central bank governor

Lesetja Kganyago speaks to the media in Washington, 2011. Photo: Jacquelyn Martin/AP/SIPASouth Africa is capable of quickly addressing concerns raised by credit ratings agencies to avoid further downgrades, central bank governor Lesetja Kganyago said on Thursday.

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South Africa's MTN records higher Q1 revenue on strong data

 An MTN advertisement is seen on a giant electronic board over a slum in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPAMTN Group reported a 7.1% rise in first-quarter group revenue helped by a strong performance in data services, Africa's biggest mobile phone operator said on Wednesday.

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Norilsk Nickel files lawsuit against Botswana over Nkomati stake sale

German Chancellor Angela Merkel, right, welcomes the President of Botswana, Seretse Khama Ian Khama, left, in Berlin, Germany, March 7, 2017. Photo: Michael Sohn/AP/SIPARussia's Norilsk Nickel said on Friday it had filed a lawsuit against the government of Botswana to try to recoup $271 million plus damages it says it is owed from the aborted sale of a 50% stake in the Nkomati mine in South Africa.

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Old Mutual Wealth's client inflows rise as parent works on break-up

Old Mutual Wealth forecast that markets will remain volatile until the outcome of Britain's June general election. In this  photo, Britain's Prime Minister Theresa May departs 10 Downing Street in London for Prime Minister's Questions, April 19, 2017. Photo: Frank Augstein/AP/SIPAFinancial services group Old Mutual Plc's UK asset management business reported its higher ever quarter for client inflows and funds under management for the first three months of the year, citing increased demand for its services and platform.

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