Business Africa

  • Intra-African trade is still at a dismally low percentage: MTN’s Nhleko

    MTN’s executive chairman, Phuthuma Nhleko talks about how to improve the state of Africa’s trade and how politics may – or may not – influence the region.

  • BEIJING— China is preparing to retaliate if U.S. Already, China has imposed unusually high anti-dumping penalties against a U.S.-made agricultural chemical. "China has indeed threatened to and is preparing to take steps in retaliation if such actions take place," said Lester Ross, a board member of the American Chamber of Commerce, at a news conference.

  • DAVOS, Switzerland, Jan 18- Two decades after they were spurred into action to tackle AIDS in Africa, global drugmakers said on Wednesday they would invest $50 million over three years to fight cancer and other non-communicable diseases in poor countries. The so-called Access Accelerated initiative was announced at the World Economic Forum in Davos and aims...

  • BEIJING— U.S. companies feel less welcome in China and some are shifting operations to other countries, a business group reported Wednesday, amid rising tension between President-elect Donald Trump and Beijing over trade. The report by the American Chamber of Commerce in China reflects frustration among companies that see China as a key market but face...

  • **Exxon Mobil Corp said it will pay up to $6.6 billion to double its holdings in the Permian Basin of west Texas and New Mexico, the largest oil field in the United States. **Germany's Lufthansa is not in talks about Etihad Airways taking a stake in the German airline, two sources familiar with the matter said on Tuesday, denying an Italian newspaper report that said it...

  • DAVOS, Switzerland, Jan 17- American actor Matt Damon used Davos to drum up support for his water charity, Water.org on Tuesday, after getting a new multi-million-dollar commitment from Belgian brewer Stella Artois. Stella Artois said it was committing $4.8 million over four years to Water.org, at a time that AB InBev is moving into Africa, where access to clean...

  • *Dryness seen continuing in Brazil's robusta region. NEW YORK/ LONDON, Jan 17- Robusta coffee futures on ICE rose to a 4-1/ 2 year high on Tuesday, lifted by prospects for a smaller crop in Brazil due to poor weather, while New York cocoa turned higher as the British pound surged. Meteorologist MDA Information Systems forecast that despite weekend rains in parts of...

  • DAVOS, Switzerland, Jan 17- In 2014, Arnold Kamler, CEO of New Jersey- based Kent International, took a big step: he resumed making bicycles in the United States, 23 years after uprooting production to China. For business and political leaders gathered in the Swiss Alps town of Davos for this year's World Economic Forum, Kamler's experience- part of a process Morgan...

  • DAVOS, Switzerland, Jan 17- In 2014, Arnold Kamler, CEO of New Jersey- based Kent International, took a big step: he resumed making bicycles in the United States, 23 years after uprooting production to China. For business and political leaders gathered in the Swiss Alps town of Davos for this year's World Economic Forum, Kamler's experience- part of a process Morgan...

  • **Germany's Lufthansa and Etihad Airways are in talks to possibly merge the two airlines, Italian daily Il Messaggero said in an unsourced report. **Portag3 Ventures, a financial technology fund backed by Canada's Power Financial Corp, has invested an undisclosed amount in finance startup Street Contxt, Portag3's president said in an interview on Monday.

  • DAVOS, Switzerland, Jan 17- In 2014, Arnold Kamler, CEO of New Jersey- based Kent International, took a big step: he resumed making bicycles in the United States, 23 years after uprooting production to China. For business and political leaders gathered in the Swiss Alps town of Davos for this year's World Economic Forum, Kamler's experience- part of a process Morgan...

  • DAVOS, Switzerland, Jan 17- In 2014, Arnold Kamler, CEO of New Jersey- based Kent International, took a big step: he resumed making bicycles in the United States, 23 years after uprooting production to China. For business and political leaders gathered in the Swiss Alps town of Davos for this year's World Economic Forum, Kamler's experience- part of a process Morgan...

  • LONDON, Jan 17- Carlyle Group has agreed to become the largest shareholder in Johannesburg- based Global Credit Ratings, the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency's services. Carlyle raised $698 million for its Africa buyout fund in 2014, exceeding its $500 million target. Founded more than two decades ago as the...

  • LONDON, Jan 17- Carlyle Group has agreed to buy Johannesburg- based Global Credit Ratings, the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency's services. GCR serves 400 customers across 20 countries and is the only ratings agency to have a strong presence in multiple geographies across Africa, Carlyle said.

  • DJIBOUTI, Jan 16- The president of Djibouti on Monday formally launched the construction of a project touted as Africa's largest free trade zone, to be built in the tiny Horn of African nation with Chinese backing. Djibouti also handles roughly 95 percent of the inbound trade for neighboring Ethiopia, population 99 million. "aims to become a gateway not only to...

  • KADUNA, Nigeria Jan 16- A new terminal at northern Nigeria's Kaduna airport is still under construction with cables hanging from ceilings less than two months before it is due to become an aviation hub when the capital's airport closes temporarily for runway repairs. Nigeria plans to shut Abuja airport for six weeks from March 8 to repair its runway and divert...

  • JOHANNESBURG— The South African unit of the Ford Motor Company says it is recalling 4,556 Kuga vehicles following several dozen reports of the car catching fire. Jeff Nemeth, Ford's regional chief executive, said Monday that 1.6- liter Kugas made between December 2012 and February 2014 must be taken to a Ford dealer as soon as possible. Ford held a joint news...

  • ABU DHABI, Jan 16- Saudi Arabia will launch a renewable energy programme in coming weeks that is expected to involve investment of between $30 billion and $50 billion by 2023, Energy Minister Khalid al-Falih said on Monday. Falih, speaking at an energy industry event in Abu Dhabi, said Riyadh would start the first round of bidding within weeks for projects under...

  • ABU DHABI, Jan 16- Saudi Arabia will launch a renewable energy program in coming weeks that is expected to involve investment of between $30 billion and $50 billion by 2023, Energy Minister Khalid al-Falih said on Monday. Falih, speaking at an energy industry event in Abu Dhabi, said Riyadh would start the first round of bidding within weeks for projects under the...

  • NEW YORK, Jan 15- Twice a day, Scott Ozawa's Bluetooth-enabled toothbrush tells his dental insurer if he brushed for a full two minutes. "It's not expected today, but in the near future it will be used to penalize people," said Mitchell Wein at Novarica Inc, who advises clients on insurance technology. Insurers recognize the dangers but consumers have nothing to fear,...