GO
Loading...

Enter multiple symbols separated by commas

Business Africa

More

  • ADDIS ABABA, Sept 2- Djibouti's relaunched national airline, now managed by a company run by the frontman of English heavy metal band Iron Maiden, is looking to remake itself as an Africa- wide air freight service, it said on Wednesday. Tiny Djibouti is sandwiched between Eritrea, Somalia and Ethiopia in the Horn of Africa, sitting strategically at the Red Sea and...

  • LAGOS, Sept 2- A year ago, computer science graduate Tolulope Komolafe was among the millions of young Nigerians unable to find full-time work. Fortunately, she was able to live with her brother in their Lagos home and avoid having to survive on her meagre income. Komolafe, 25, now works for Andela, a Lagos- based company that trains computer programmers and...

  • NAIROBI, Sept 2- Madagascar plans to increase royalty fees and claim 10 percent stakes in mining concessions, under proposed changes to its mining code, according to a draft document seen by Reuters on Wednesday. One of Africa's poorest countries, Madagascar hopes to accelerate economic growth by developing natural resources but it has struggled to attract...

  • ABIDJAN, Sept 2- Two years ago, Pascal Affi N'Guessan was in jail after backing the losing side in Ivory Coast's civil war. While N'Guessan appears likely to lose in October, the fact that the former prime minister is even contesting the election for the main opposition Ivorian Popular Front ought to mark a step towards national reconciliation.

  • *South Africa facing electricity crunch. JOHANNESBURG, Sept 2- South Africa's future energy mix could have an even higher share of nuclear power than the planned 9,600 megawatts, as it aims to cut reliance on polluting coal-fired power stations, a government official said on Wednesday. South Africa's power utility Eskom relies on coal generation for 90 percent...

  • CAIRO, Sept 2- Libya's official government is struggling to woo oil majors in a bid to control oil revenue and force a rival Tripoli government into a U.N. peace deal because foreign clients are wary of breaking with the established state energy firm in the capital. By appointing its own NOC management and inviting firms to a conference in Dubai, the east has...

  • Africa's Deadwood: The gold rush is on in Uganda Wednesday, 2 Sep 2015 | 5:51 AM ET

    MUBENDE, Uganda— The hunt for gold takes the men 100 meters underground, past contraptions of wood and rope rigged to function like pulleys, past hard rock that they attack day and night with demolition hammers. When they emerge at the end of a shift, the miners carry stone samples that will be examined for the dark veins that suggest presence of gold.

  • South Africa may increase nuclear power -newspaper Wednesday, 2 Sep 2015 | 2:19 AM ET

    JOHANNESBURG, Sept 2- South Africa's future energy mix could include an even higher share for nuclear power than the 9,600 megawatts already planned, the Business Day newspaper reported on Tuesday, citing an interview with a government official. It said a new version of South Africa's integrated resources plan, which projects its electricity requirements...

  • Nigeria to deploy drones to curb oil theft Tuesday, 1 Sep 2015 | 6:06 PM ET

    ABUJA, Nigeria— The Nigerian National Petroleum Corporation will deploy drones across the territorial waters of Africa's largest oil producer as part of a series of new efforts to help curb rampant oil theft, a company official said Tuesday. Millions of dollars in oil is stolen daily in Nigeria and the government estimates around 250,000 barrels of oil are...

  • *Looser lending rules seen as challenge to World Bank, ADB. *World Bank, ADB, play down talk of rivalry with newcomer. BEIJING, Sept 2- China's new international development bank will offer loans with fewer strings attached than the World Bank, sources said, as Beijing seeks to change the unwritten rules of global development finance.

  • GENEVA, Sept 1- The current El Nino weather phenomenon is expected peak between October and January and could turn into one of the strongest on record, experts from the World Meteorological Organization said at a news conference on Tuesday. Typically, the warm air above the eastern Pacific is causing increased precipitation over the west coast of South America...

  • CAPE TOWN, Sept 1- South Africa's energy minister pledged transparency in the country's efforts to seek a nuclear agreement on Tuesday, seeking to reassure opposition parties who have accused the government of favouring a deal with Russia. China, France, Russia, the United States and South Korea, as well as Japan and Canada, have all expressed interest and have...

  • *Africa vulnerable to falling commodity prices. *Rising Asian wages may give Africa competitive edge. The lack of reliable power grids is a major obstacle to industrialising the continent's economies at a time when Africa hopes to make a transition from commodities producer to a manufacturing hub and challenge Asia where labour costs are rising.

  • HARARE, Aug 31- Africa's richest man, Nigeria's Aliko Dangote, said on Monday he plans to open a $400 million cement plant in Zimbabwe, a major boost for the southern African country that is desperate for foreign investment. "We've already decided to invest into Zimbabwe, that's why we are here. He held meetings with Zimbabwe's President Robert Mugabe and Vice...

  • *Israeli energy stocks plunge on Egypt find. MILAN, Aug 31- Eni's "supergiant" gas find off the coast of Egypt bolsters its top-flight exploration credentials and gives the Italian energy group access to easy reserves that fit its strategy of seeking growth without sacrificing dividends. It is looking to reduce its stake in its Mozambique gas discovery and does...

  • *Discovery comes as Egypt struggles to meet energy needs. "Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world's largest natural-gas finds," it said, adding that it had full concession rights to the area. It also represents a major boost for Egypt, where power cuts caused by gas and oil shortages have often...

  • Shares in the South African division of ArcelorMittal slumped 23 percent in Johannesburg to a 13- year low of 9.01 rand after the news. ArcelorMittal said in a statement that trading conditions had continued to worsen since it started reviewing its long steel business in July, adding that higher South African import duties would only bring relief over the...

  • ArcelorMittal said in a statement that trading conditions have continued to worsen since it started reviewing its long steel business in July, adding that the higher import duty will only bring relief over the medium to long term. ArcelorMittal said it had started discussions with unions about the closure of two mills, cutting as many as 400 jobs, at its plant in...

  • A natural gas production platform.

    Italian energy group Eni said it had discovered potentially one of the world's largest natural-gas fields off the Egyptian coast.

  • LONDON, Aug 30- Libya's National Oil Company and Central Bank chairmen engaged in another round of blitz meetings with oil majors in London in a renewed effort to stop its rival wooing its clients. The head of the Tripoli- based NOC, Mustafa Sanallah, said he and Tripoli- based Central Bank Chairman Saddek El-Kaber held meetings with 26 oil firms over the course of...