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Fri,24Nov2017

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Zimbabwe seeks to sell ivory stocks, won't follow Kenya's lead

File Photo©Ben Curtis/AP/SIPAZimbabwe is seeking support from its neighbours to be allowed to engage in international trade in ivory and will not burn its 70 tonnes of ivory stocks as Kenya did last month, the environment minister said on Wednesday.

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Ghana and Côte d'Ivoire's new wager

Presidents next door Ouattara and Mahama. Photo©ISSOUF SANOGO/AFPWhile a previous generation of political leaders bet on which country's economic model would triumph, a new one is putting its money down in support of regional cooperation and integration.

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South Africa trade union movement rift laid bare at commemorations

Zwelinzima Vavi told workers that they were ready to challenge Cosatu. Photo©Obed Zilwa/AP/SIPAThe rift in the South African trade union movement was laid bare on Monday as workers held separate major events to commemorate Workers Day.

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Nigeria - China deal to narrow trade gap

Photo©ReutersChina will soon start importing goods from Nigeria following an agreement signed between the two countries to increase trade, the Central Bank of Nigeria (CBN) governor announced.

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South Africa's Bidvest to spin off "undervalued" food unit

Brian Joffe, Bidvest founder and chief executive has a reputation as one of South Africa's savviest dealmakersSouth African conglomerate Bidvest Group will next month spin off and separately list its food distribution business, it said on Thursday, in a breakup of the $8.2 billion company aimed at boosting its share price.

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South Africa: Bidvest to list food service unit on local stock exchange

Photo©ReutersSouth Africa's Bidvest Group on Thursday said it plans to list its food business Bid Corp on the local stock exchange on May 30 to streamline its activities and operations.

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Trade: South Africa considering emergency steel tariffs

File photo©ReutersSouth Africa is considering imposing emergency tariffs on some iron and steel imports, it said in a filing to the World Trade Organization published on Monday.

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Egypt fails to secure April LNG shipments

File photo©Cliff Owen AP/SIPAEgypt's state-owned EGAS has so far failed to fill a tender to buy two liquefied natural gas (LNG) shipments due in April, trade sources said.

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Backward integration key to Africa's growth prospects'

Aliko Dangote believes African economies should rethink backward integration. Photo©Eric Larrayadieu for TARAfrican countries must trade more amongst themselves. Thats the message from the 2016 edition of the Africa CEO Forum, in Abidjan, Cote d'Ivoire.

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Zimbabwe: Second hand clothes spell the death knell of clothing retail sector

 Truworths Ltd and Edgars Stores Limited are struggling to stay afloat on account of macroeconomic challenges and flourishing trade in second-hand clothes. Photo©ReutersTrade in second hand clothes is negatively affecting a Zimbabwe's clothing retailers' viability, as they are now being forced to restructure and close shops.

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Kenya's market regulator to tighten rules against money laundering

Paul Muthaura, the acting chief of the Capital Markets Authority (CMA). Photo©ScreenShotKenya's capital markets regulator has published new regulations requiring stock and fixed-income brokers to report suspicious trades and transactions above $10,000 to a government body set up to fight money-laundering.

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When China sneezes, does Africa catch a cold?

While commodity exporters will feel the pinch from China's recent economic slowdown, the price collapse may help with the continent's much-needed economic transformation.

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South Africa's biggest labour federation splits

Zwelinzima Vavi, former Cosatu secretary general, was fired by Africa's largest labour federation in 2014. Photo© THEMBA HADEBE/AP/SIPAA leading South African trade unionist will in May launch a new federation to rival the Congress of South African Trade Unions (Cosatu), it has been revealed.

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Trade: South Africa's Zuma heads to Nigeria to meet with Buhari

Jacob Zuma is set to visit Nigeria on Tuesday. File photo©ReutersAfter years of strained political and economic relations between South Africa and Nigeria, President Jacob Zuma visits the West African country this week, a development that many see as the ushering of a new era in relations between the two countries.

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Kenya: Mombasa port management replaced amid smuggling probe

File Photo©ReutersSenior managers at Kenya's Mombasa port have been removed from office as the country's Ports Authority embarks on a crackdown on to tackle drug and ivory smuggling at East Africa's main trade gateway.

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Ghana: Harsh weather to affect Ghana cocoa output

File photo©ReutersGhana could lose as much as 25 percent of its projected cocoa output this season as harsh winds and a lack of rain confound efforts to boost yields in the world's second-largest producer, a government source said.

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Trade: Egypt's GASC gets wheat tender offers despite quality row

File photo©ReutersEgyptian state buyer GASC (General Authority for Supply Commodities) received four offers in an international wheat purchase tender on Friday despite uncertainty over tough new quality rules which have disrupted its massive wheat import programme, traders said.

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South Sudan and Sudan agree to peg crude pipeline fees to oil price

File photo©ReutersTransit fees that Sudan charges its neighbour South Sudan will be based on prevailing crude oil prices, a move away from a fixed fee, South Sudan's petroleum minister said on Wednesday.

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One belt, one road to tie Asia to Africa and Europe

China's President Xi Jinping is keen to leave a global legacy. In 2013, he launched the One Belt, One Road (OBOR) programme – a reference to the Silk Road responsible for the Middle Kingdom's wealth in centuries past (see map).

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Where is the voice of Africa?

Thabo Mbeki Former president of South Africa. Photo©ReutersSouth Africa's former President Thabo Mbeki talks to The Africa Report about African diplomacy, the economic slowdown and the fight against illicit financial flows. 

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