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Sun,19Nov2017

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Kenya adds 25 percent to size of economy after rebasing

Kenya's gross domestic product (GDP) was estimated to be 25 percent bigger after the authorities changed the base calculation year to 2009 from 2001, sending the east African nation into the top 10 of Africa's largest economies.

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Suez Canal collision: delays to traffic

Photos@ReutersEgyptSuezCanalTwo container ships collided at the northern end of Egypt's Suez Canal, delaying traffic through a vital global trade route, shipping sources said today.

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Cote d'Ivoire merchants stockpile cocoa amid new price expectations

File Photo©ReutersCocoa merchants in Ivory Coast have built up stocks of beans and are holding them back in order to profit from an expected increase in the government's price scale for the 2014/15 season, which opens at the beginning of next month, exporters and merchants say.

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Finding a balance between Trade and Climate change

Parched soil by the White Nile. Khartoum, Sudan. Photo©Arne Hoel / World BankIs Africa under a climate change siege? Can the region expand its trade under current conditions? Experts say yes to both questions, but, in addition to reducing barriers to new and existing trade, countries will have to use their ecosystems to protect the continent's productive sectors from the negative impact of climate change.

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Infrastructure: Dangote's cement rivals

With the growth in continental production capacity many countries can cut their imports. Photo©ReutersAfrica's economic growth is driving demand for building materials. Nigeria's Dangote Cement and Europe's Lafarge and Holcim are the top players fighting for dominance in Africa's cement trade.

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AngloGold makes U-turn on restructuring after shareholder revolt

Billonaire hedge-fund manager John Paulson was one of the most outspoken critics of AngloGold's abortive plans. Photo©ReutersSouth Africa-based AngloGold Ashanti has pulled the plug on a planned restructuring only five days after announcing it, following a shareholder revolt against the plan for a new London-listed company and a $2.1 billion rights issue.

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Singapore-Africa: An island with continental ambitions

Singapore-listed Olam has planted 3,600ha of rice in Nigeria’s Nasarawa State. Photo©OlamSingapore will host its third biennial African trade summit in August, building on an already thriving business ecosystem.

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Ghana's inflation climbs

Ghana's currency, the Cedi. Photo©ReutersGhana's annual inflation rate continued to rise high in August hitting a four year-high of 15.9%, the government said this week.

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US-Africa relations: Nigeria is looking at other areas of exports - Ohuabunwa

Sam Ohuabunwa, National President of the Nigerian-American Chamber of Commerce. Photo©samohuabunwa.comSam Ohuabunwa, National President of the Nigerian-American Chamber of Commerce (NACC) says the US will show increasing presence in the Gulf of Guinea because it is a strategic area to protect, both in terms of trade and geopolitical stability.

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The survival of Obama's legacy for Africa

Barack Obama. Photo©ReutersThe test of President Barack Obama's Africa policies will be if they survive after the next US president takes over in 2017.

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US-Africa: Our policy is to make a difference to the people - Thomas-Greenfield

Linda Thomas-Greenfield, Assistant Secretary of State for African Affairs, United States. Photo©Amine Landoulsi/Anadolu Agency/AFPAhead of the inaugural US-Africa summit, United States' Assistant Secretary of State for African Affairs, Linda Thomas-Greenfield, talked to The Africa Report about washington's priorities for Africa.

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Trafigura: From trader to infrastructure builder

File Photo©ReutersTrafigura Beheer BV is one of the world's largest trading companies, with nearly 9,000 employees, assets worth $40bn, turnover of $133bn and net profit of $2.2bn in 2013.

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Africa's misunderstood market potential

For a region of the world that is attracting so much attention these days for its economic performance – whether in terms of growth rates or bond yields, infrastructure spending or disposable incomes – Africa is still surprisingly poorly-understood.

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DRC's Joseph Kabila: Will he stay or will he go?

Where there’s a will there’s a way: Kabila considers his options©Gwenn Dubourthoumieu/afpElectoral and constitutional changes proposed in June suggest that President Joseph Kabila will attempt to stay beyond the end of his last term in 2016. Political uncertainty has slowed peace negotiations, the national dialogue and improving the economy outside the mining sector.

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Commodities: The Trade Challenge

With new rules and new markets, African companies are fighting for a bigger stake in the continent's resource bonanza. At the same time, multinational traders like Glencore are targeting Africa as they seek to control commodity value chains.

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US-Africa Summit: Billions of dollars in deals and funding expected

 Officials say there will be new support for Power Africa, a privately-funded programme launched by U.S. President Barack Obama last year, at the summit. File Photo©ReutersThe United States will announce nearly $1 billion in business deals, increase funding for peacekeeping and commit billions of dollars to expanding food and power programmes in Africa at the first US-Africa summit this week, U.S. and development officials say.

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US-Africa summit: Congress and the last hurdle

Photo©ReutersAfter repeated calls to make Africa a priority, it is the hope of many that the 2014 US-Africa Leaders' Summit (ALS) will bring the United States and the African continent together in an unprecedented partnership.

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Mugabe wants China to help Zimbabwe's economic revolution

Zimbabwe's 90 year-old president, Robert Mugabe. Photo©ReutersOut of friends and fast running out of money, Zimbabwe's President Robert Mugabe hopes China can assist his country launch an "economic revolution", with the exploitation of natural resources being the springboard.

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Kenyan assets edge up after IMF's upbeat view on the economy

The Kenyan shilling firmed marginally against the dollar on Thursday and Nairobi's benchmark share index inched up after the International Monetary Fund gave a positive review of the economy.

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Standard Bank has $170 million exposure to China metal fraud

Standard Bank Plc said it has a total exposure related to China's Qingdao port of about $170 million worth of aluminium, and has started legal proceedings in Shandong province to protect its position.

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