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Sat,18Nov2017

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Uganda Country Profile 2015: Marching towards another ballot

altIn the East African arena, President Yoweri Museveni wants to make his mark as the elder statesman of a so-called new "coalition of the willing"
that is intended to forge stronger relations with Rwanda and Kenya, leaving the more cautious Tanzania on the sidelines.

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Oil & Gas: Al Amoudi burns his fingers in Morocco

Photos© All rights reserved The country's sole oil refinery stopped operations in August, angering the authorities in Rabat. SAMIR now faces an uphill battle to raise funds and win back customers

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Improved Ghana cocoa production leads to world surplus

File photo©ReutersGlobal cocoa market is likely to record a marginal surplus in the 2015/2016 crop season following improved production in Ghana, it has been revealed.

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Kenya's ARM Cement seeks up to $105 million in bond to retire other debt

Kenya's ARM Cement aims to raise up to $105 million via a privately placed five-year bond to retire more expensive short-term debt, Kenya's Business Daily newspaper reported.

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Egyptian shareholder, Sawiris in "constructive" talks with Adidas

Nassef Sawiris controls 6 percent of the voting rights in Adidas. Photo©ReutersEgyptian tycoon Nassef Sawiris, who controls 6 percent of the voting rights in Adidas, says he wants a constructive relationship with the German sportswear company.

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US - South Africa: Poultry war threatens AGOA deal as Obama issues warning

Photo©ReutersSouth Africa believes it is on track to meet the December 31 deadline to resume imports of US poultry into the country, despite the warning from American President Barack Obama that the country risks being suspended from the African Growth and Opportunity Act (AGOA) trade agreement.

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Angola tightens foreign currency controls as oil price slides

Investors, visitors and residents of Angola may struggle to withdraw cash from their bank accounts after the government of Africa's second largest crude exporter said it would restrict foreign currency transactions.

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Angola raises $1.5 billion in debut Eurobond to fund growth

Angola has raised $1.5 billion in its debut Eurobond, a 10-year issue with a yield of 9.5 percent whose proceeds will be used for long-term economic development, the finance minister said on Thursday.

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MTN issues cautionary statement as shares restart trading on bourse

Photo©ReutersAfter a brief suspension, MTN shares have begun trading on the Johannesburg Stock Exchange (JSE), with the company issuing a cautionary statement.

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Nigeria/South Africa: Breaking the cycle

Photos© PhotoMontage TAR; Matthieu Spohn/Corbis ; Dimitri Vervitsiotis/Getty images; Getty images; SIPAWith a Nigerian at the head of the AfDB and a South African representing the AU, never has the time been riper for South Africa and Nigeria to forgive past disagreements and lead the continent towards greater cooperation

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Egypt: Fresh blood at central bank to calm currency crisis

Tarek Amer, Egypts new Central Bank governor. Photo©ReutersWhen Egyptian central bank governor Hesham Ramez quit, phones began ringing as bankers congratulated each other on the departure of a man they say refused to change course even as Egypt careered from currency crisis toward trade crisis.

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French ports company eyes Ghana

From left to right: Philippe Dehays, Hervé Cornede, Richard Anamoo, Nicolas Occis, Ambassador François Pujolas. Photo©Dasmani LaaryA delegation from French ports company, HAROPA, is in Ghana to market cheaper transport logistics through the Seine corridor.

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Private equity: Sub-Saharan Africa grows to $12 bn a year

File Photo © ReutersInternational private equity has become the fastest growing source of investment in sub-Saharan Africa but better risk management tools and a way to develop whole sectors was needed to make sure benefits are spread more widely, a study found.

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Zimbabwe's $18bn import spending far outweighs exports

File Photo©ReutersZimbabwe has splashed over $18 billion in past five years on cheap imported products, as imports continue to far outweigh exports, leaving local businesses baffled on where the money was coming from.

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eTrade: Ethiopia unveils online trade facility for farmers

Ethiopia on Thursday unveiled an online platform that will help farmers to play a role in the determination of prices for their products.

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Ghana delays Eurobond it expected to launch on Friday

Photo©ReutersGhana has postponed a Eurobond sale of up to $1.5 billion it had expected to launch on Friday amid a rise in borrowing costs for emerging market nations, a senior government official said.

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South African mines to suffer job cuts in Glencore move

File photo©ReutersMiner and commodities trader Glencore, which is reviewing its operations in the face of a slump in commodities prices, announced more job cuts at its mines in South Africa on Thursday.

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Ghana launches e-bond trading system

Photo©ReutersGhana has launched an e-bond trading system that will trade in government bonds in a partnership with Bloomberg.

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We have absolutely no solvency issues - Glencore

Mining and trading company Glencore said on Tuesday its business remained "operationally and financially robust" and it was confident in the medium and long-term fundamentals of its commodities.

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International Cocoa Organization, ICCO to move to Abidjan

The International Cocoa Organization (ICCO) said it will begin moving its headquarters from London to Abidjan, the commercial capital of Ivory Coast.

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