NewsSouthern Africa

Sat,21Apr2018

Southern Africa

Africa's trajectories: From fears over political uncertainty to dreams of economic recovery

TAR2018 ImageThe arrival of 2018 brings with it hopes of improved economic performances together with political uncertainty. Here we look at Africa’s trajectories –  from the countries that are steadily rising to those  that are in free-fall and all those in between

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Botswana to spend $495 mln to extend power grid to northwest

  A young girl uses light from a candle as she sells fruit on a sidewalk in Harare, Zimbabwe. Photo: AP Photo/Tsvangirayi MukwazhiThe Botswana Power Corporation (BPC) on Monday launched a 4.8 billion pula ($495 million) project to build an electricity transmission line to connect the northwest of the country, a centre of copper mining and tourism, to the national grid.

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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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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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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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South African court authorizes freezing of $130 mln in McKinsey case: source

 African National Congress President, Cyril Ramaphosa, addresses delegates during the closing of the ANC's elective conference in Johannesburg, Dec. 20, 2017. Photo: Themba Hadebe/AP/SIPAA South African court has authorized the freezing of $130 million in assets earned by global consultancy McKinsey and a firm linked to friends of President Jacob Zuma, a source at the state prosecutors' office told Reuters.

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