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Thu,23Nov2017

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Trade: Opportunity blooms for Western investors

Photos© HU QINGMING/IMAGINECHINA/AFPWestern investors with an eye to Africa would be wise to take heed of a Chinese proverb – "Pluck flowers as they bloom. Wait, and you will have only twigs" – as Beijing battles to keep its economy on track.

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Ethiopia: Banking regulation to transform economy from top down

Ethiopia's minister of finance, Sufian Ahmed. All Rights ReservedThere is a common misconception about banking regulations in Ethiopia, finance minister Sufian Ahmed tells The Africa Report.

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M & A: Global beer leader AB InBev to make offer for rival SABMiller

Photo©ReutersAnheuser-Busch InBev, the world's biggest beer maker, has approached rival SABMiller about a takeover that would form a brewing colossus that makes around a third of the beer drunk globally.

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Glencore raises $2.5 bn in share sale to cut debt

Mining and trading group Glencore has raised $2.5 billion through a share placement as investors including senior managers upped their bets on the company to help it cut debt and protect its credit rating.

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Investment: Kellogg to spend $450 million to expand in Africa

Photo©ReutersKellogg Co is setting up a joint venture with the African arm of Singapore's Tolaram Group to bolster its breakfast and snack food offerings in West Africa.

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Moroccan government drafts new rules to attract stock market investors

Morocco's government is considering allowing foreign companies to list on the Casablanca stock exchange and creating a second market dedicated to small and medium-sized businesses.

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Finance: Nigerian regulators intervene after JP Morgan index action

Nigeria's bond market regulator stepped in to avoid a market collapse on Thursday, bringing trades to a halt by forcing dealers to widen spreads after JP Morgan's decision to remove Africa's biggest economy from a major bond index.

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IMF cuts Zimbabwe's growth forecast after drought, weak exports

The International Monetary Fund on Wednesday lowered Zimbabwe's growth forecast for this year to 1.5 percent from 2.8 percent, blaming drought and lower commodity exports.

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Trade: JP Morgan to remove Nigeria from government bond index

Photo©ReutersJP Morgan will remove Nigeria from its Government Bond Index (GBI-EM) by the end of October, the bank said on Tuesday, after warning the government of Africa's biggest economy that currency controls were making transactions too complicated.

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Platinum market deficit expected to shrink in 2015

Photo©ReutersThe platinum market deficit shrank in the second quarter, data from the World Platinum Investment Council showed on Tuesday, as rising mine supply and autocatalyst and jewellery recycling outstripped a much smaller increase in demand.

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French retailer Fnac to open stores in Ivory Coast

Photo©ReutersFrench books and electronics retailer Fnac plans to open its first two stores in Abidjan, Ivory Coast in the coming months to exploit growing consumer demand in sub-Saharan Africa.

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Glencore to suspend dividend, raise equity to cut debt

Mining and commodities trading firm Glencore announced on Monday it will suspend dividends, sell assets and raise $2.5 billion in a new share issue as it aims to cut its debt by a third to $20 billion by the end of next year.

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Mining: A Golden Voyage

The Africa Report traces the typical route that a gram of gold takes from an artisanal mine in eastern DRC, via refining in Dubai to a wedding ceremony in India

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SA retailer Foshini plans standalone children's stores

Photo©ReutersSouth African clothing retailer The Foschini Group (TFG) is planning two chains of stores aimed at children, seeking new areas of growth amid a weak economy and growing competition in womenswear.

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IMF names eastern central bank governor as its Libya contact

The International Monetary Fund said on Friday it has recognised the central bank governor named by Libya's official government as its sole contact and ended ties with a rival bank chief in Tripoli.

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Ghana aims to push demand for local products after government embarrassment

Photo©ReutersGhanaian President John Dramani Mahama faced embarrassment and had his commitment to a campaign to promote local products and businesses questioned after his government procured office equipment from China instead of locally.

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Nigeria's NNPC bans 113 oil tankers

Photo©ReutersNigeria's state oil company NNPC has banned 113 oil tankers from the country's waters in an effort to crack down on illegal crude oil trading.

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Copyright, an intellectual liberation

South African winemakers should smell the rooibos and protect their geographical uniqueness. Photo©René Mattes/Hemis.frIt is too late for Ethiopia – which takes credit for the discovery of the caffeinated red beans in its highlands a thousand years ago – to patent the invention of coffee, but it is now doing the next best thing.

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African brands: Fight for your copyright

Illustration by Alex Green for The Africa ReportBootleg handbags and pirated films keep informal economies going so African governments turn a blind eye to counterfeiting. Could they do more though to protect the continent's traditional knowledge? Zimbabwean IP lawyer and novelist Petina Gappah looks beyond the labels.

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South Africa's Woolworths gets sales boost from Australia deal

Photo©ReutersSouth Africa's Woolworths Holdings Ltd said sales had surged 55 percent over the past year, boosted by the first contribution from David Jones after it bought the Australian department store chain last August.

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