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Tue,21Nov2017

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Oil & Gas: India seeks active role in Africa

India, the world's third biggest oil importer, stepped up oil imports from Africa in 2015. File Photo©ReutersIndia has asked its oil firms to boost ties with resource-rich Africa as the south Asian nation wants to take advantage of tumbling crude prices to lock in supplies to meet future demand.

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Kenya tea auction operator to automate trading

Kenya will this year begin to automate trading at its weekly tea auction of regional produce to increase transparency in dealings, the chairman of the East African Tea Traders Association (EATTA), which runs the sale, said on Wednesday.

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Zimbabwe stock exchange's new counter off to a bad start

Zimbabwe Stock Exchange (ZSE)'s newly listed GetBucks Financial Services counter was off to a bad start on Friday as it failed to attract any single trader with analysts blaming its poor performance on bad timing.

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Investment hungry Zimbabwe to set up commercial court

Photo©CommonsZimbabwe is set to establish a commercial court to deal with disputes as part of wider reforms to improve the ease of business in the investment hungry southern African country.

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Infrastructure: Gabon signs loans for port and major highway development

Gabon has signed agreements with the Development Bank of Central African States (BDEAC) for loans on two major infrastructure projects totalling more than $200 million, the presidency said on Sunday.

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South Africa, US meat war ends

South Africa’s Trade minister Rob Davies said on Friday that all outstanding issues on AGOA have been agreed upon and finalised. Photo©ReutersSouth Africa on Thursday avoided trade sanctions from the United States after the two countries reached an agreement on the importation of poultry into Africa's biggest economy from America.

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Agriculture: Mali suspends most cotton ginning after out-of-season rains

Photo©ReutersMali's state-run cotton company will suspend ginning in most regions after unseasonable rains, the latest setback for the West Africa nation's crop in a season hit by unusual weather, the company said on Thursday.

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Trade: South Africa's AGOA partnership under threat in meat war with US

South Africa’s Minister of Trade and Industry, Rob Davies says the country has made significant progress on opening its markets for the US meat imports. Photo©ReutersSouth Africa and the United States have failed to agree on key parts of a trade agreement on the importation of poultry and pork, with the Americans threatening to suspend the country from the African Growth and Opportunity (AGOA) Act unless the Africans act fast to rescue the deal.

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Ethiopia's no-nonsense approach to fixing agriculture

Ethiopia Commodity Exchange building in Addis Ababa, Ethiopia. Photo©Africa Renewal, MasimbaTafirenyikaThe Ethiopian government has transformed the economy into one of the fastest-growing in the world (9.9% in 2014) and made agriculture the centrepiece of an economic policy designed to ensure that the severity of future famines will not be measured by the number of people starving to death but by the seriousness of other less life-threatening factors like malnutrition.

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Moody's downgrades Glencore's ratings, keeps stable outlook

Commodities trader Glencore's credit rating was downgraded to one notch above junk status by Moody's Investors Service on Friday which cited likely weak mining market conditions over the next two years.

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Niger's Agadez, a smugglers’ haven

Photos© Issouf Sanogo/AFPIn Agadez, on the edge of the Sahara, an entire economy has grown up around the West African migrants trying to reach Libya and beyond

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Agriculture: From copper to cows, a Zambian move

Photos© Adrià Fruitos for TARThe mining downturn is leading Zambia's government to look to agricultural development for opportunities

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Kenya: Majority stake in five state-owned sugar companies to be sold

File photo©ReutersKenya on Friday invited bids for the purchase of stakes in five state-owned sugar companies, seeking to complete reforms aimed at making its ailing sugar industry more competitive.

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South Africa: Ratings downgrade would impact markets - Nhlanhla Nene

South Africa's Finance Minister, Nhlanhlan Nene. Photo©ReutersSouth Africa's finance minister said on Wednesday that a potential credit ratings downgrade would impact markets in Africa's most industrialised economy.

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Kenya: Mombasa port traffic up 10 percent in January-September

File photo©ReutersCargo traffic through Kenya's biggest port grew by 10.1 percent in the first nine months of the year after expansion and installation of new cargo-handling facilities, its head said on Monday.

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Egypt's central bank saviour faces tricky balancing act

Tarek Amer. Photo©ReutersFrom bankers to carmakers, Egypt's business community will breathe easier when Tarek Amer takes charge at the central bank on Friday, with hopes high he will revamp a monetary policy that has undermined investment and growth.

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Oil & Gas: Glencore sees Tripoli-based NOC as sole legal seller of Libyan oil

File photo©ReutersCommodities trader Glencore said on Thursday it recognises Libya's Tripoli-based National Oil Corp. (NOC) as the sole legal marketer of the country's oil, after securing an export deal earlier this year with the state-run company.

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Finance: Fitch sees Brazil, Middle East/Africa region vulnerable to 2016 downgrades

Emerging markets face another wave of ratings downgrades next year, with Brazil at risk of a cut to junk and the Africa/Middle East region potentially given a 'negative outlook', Fitch Ratings' top sovereign analyst said in an interview.

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Kenya: New car sales in 15 percent jump

Sales of light commercial trucks helped push new vehicle sales in Kenya to 16,711 units in the first 10 months of 2015, 15 percent higher than in the same period last year, the head of the industry's association said on Tuesday.

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Tanzania Country Profile 2015: Heads turned by the scent of gas

altWith general elections planned for October 2015, the months ahead promise higher political stakes than ever before in a country long dominated by the heavy hand of the former single party, Chama Cha Mapinduzi (CCM).

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