GO
Loading...

Africa

More

  • Visa, MasterCard moving into mobile pay in Africa Tuesday, 3 Mar 2015 | 4:49 PM ET

    NEW YORK— Americans may just be getting used to mobile pay, but consumers in many African countries have been paying with their phones for years. Now payment processors Visa and MasterCard want to get a slice of that market, and are launching card services aimed at Africa's growing mobile payment industry. Now Airtel Money subscribers in Kenya will be able to get a...

  • JOHANNESBURG, March 3- South African retailer The Foschini Group aims to almost triple the number of its stores across the rest of Africa over the next five years, its chief executive said on Tuesday. Foschini is the biggest reseller of Adidas and Nike products in South Africa where it is the No.3 clothes retailer by market value and operates more than 2,000...

  • North Korea lifts Ebola travel restrictions Tuesday, 3 Mar 2015 | 7:09 AM ET

    TOKYO— North Korea has lifted severe restrictions on foreign travel it imposed last year to keep the Ebola virus from crossing its borders. One tour company that takes tourists into North Korea, Uri Tours, said on its website Tuesday that it had been told by the country's national airline that the ban had been lifted. North Korea's decision to set the restrictions...

  • DUBAI, United Arab Emirates— The United Arab Emirates' budget carrier flydubai, in its fifth year of operation, has turned a profit of $68 million out of total revenue of $1.2 billion last year. The company's earnings report released Wednesday shows flydubai's profits were around 12 percent higher than in 2013. The fast-growing airliner added 23 new routes last...

  • BARCELONA, March 3- Facebook Inc founder Mark Zuckerberg was on hostile turf on Monday as spoke to executives at the world's biggest annual gathering of the mobile industry, renewing attempts to win their backing to help reach billions of users with no Internet access. His comments come amid an increasingly rancorous debate in which telecom and cable firms...

  • Google and Facebook are taking different routes to expanding Internet use and access among the unconnected in developing countries. The two Internet giants gave updates on their efforts— and differing approaches— at the Mobile World Congress wireless show in Barcelona on Monday. And while Facebook CEO Mark Zuckerberg and Google Vice President Sundar...

  • ZIGUINCHOR, Senegal, March 2- Senegal's President Macky Sall said on Monday that the strong U.S. dollar posed risks to the west African country's economy, which has already been hit by a drop in tourism due to the Ebola virus. Sall said the trade imbalance highlighted the need for countries in West Africa to move up the value chain to produce higher quality goods and...

  • *Honeywell to invest 50 bln naira in flourmill unit. LAGOS, March 2- Nigerian conglomerate Honeywell group plans to invest 150 billion naira over the next 2-3 years to fund growth across its businesses and will list one or two subsidiaries on the local bourse, its chairman said. Oba Otudeko told the Reuters Africa Investment Summit on Monday that Honeywell, with...

  • *Nestle to export Maggi to Britain, U.S. LAGOS, March 2- Nestle Nigeria's chief executive expects the firm's capital expenditure to slow to its lowest level in five years after a currency devaluation dampened customer spending in Africa's biggest economy. Dharnesh Gordhon told Reuters Africa Investment Summit that consumers in Africa's most populous nation...

  • LONDON, March 2- European shares retreated from multi-year highs on Monday, with Greek banks slipping on lingering concerns about the country's debt and Tullow Oil falling on worries about project delays and its likely ejection from a major share index. The Greek banking index fell 9.4 percent, while lenders National Bank of Greece, Piraeus Bank and Alpha Bank...

  • *Bidvest expects PIC to reject offer. *Bidvest offered 52 rand per share, or $515 mln. JOHANNESBURG, March 2- The chief executive of South Africa's Bidvest Group said his $515 million buyout offer for Adcock Ingram is likely to be rejected by a major shareholder, meaning the industrial conglomerate could end up with less than 100 percent.

  • JOHANNESBURG, March 2- Angola's central bank will probably have to devalue the kwanza and raise interest rates this year as a sharp drop in oil prices saps foreign exchange supply, the Angolan unit of Africa- focused investment bank Imara Securities said on Monday. Oil-dependent Angola slashed $17 billion off its budget this year due to the drop in the price of...

  • *Bavaria NV to face rivals, Heineken, Diageo in Ethiopia. ADDIS ABABA, March 2- Ethiopian greenfield brewer Habesha, majority-owned by Dutch brewer Bavaria NV, said it plans to start selling beer in the second quarter of this year to tap rising domestic demand that has attracted global brands. Bavaria NV is the latest beer maker lured by Ethiopia's expanding middle...

  • RABAT, Morocco— Dallas- based Kosmos Energy said Monday its exploration well off the coast of the disputed Western Sahara territory has not yielded a commercial find and will be plugged, though the search would continue. Morocco annexed the largely desert territory of the Western Sahara in 1975 and fought a 15- year-old war with the Polisario independence...

  • *Domestic demand already driving Hungary, Poland. WARSAW, Mar 2- Central Europe's manufacturing expanded in February, a series of reports showed, and an expected economic recovery in the euro zone, the region's largest export market, should help it continue to grow. The Purchasing Managers' Index for manufacturing in Poland, the region's biggest economy, eased...

  • Adults, as well as children of any age, will be enrolled in the study if they are admitted to Ebola treatment units in Liberia or are health care workers returning to the U.S. for treatment after being infected while serving in West Africa. That has happened to only two people— the nurses who treated patient Thomas Eric Duncan, who had traveled from Africa and died at a...

  • *Kenya to remain "active" in debt market after Eurobond. NAIROBI, March 2- Kenya's drive to improve rail, roads and power plants will help spur economic growth to 6.9 percent in 2015 and 7 percent in coming years, its finance minister said. As well as infrastructure development, Kenya's economy would benefit from the drop in global oil prices, which would spur the...

  • In a major boardroom reshuffle that signalled the end of an era at the Asia- focused bank, Standard Chartered said Thursday that Winters would take over in June, initially prompting a giddy reaction among investors, analysts and some staff. "There's a mood of borderline euphoria and excitement today... after six grim months where the sense of passion and urgency...

  • NAIROBI, Feb 27- In a world where many central bankers fret about deflation, defaults and currency break-ups, Somalia's central bank chief has a more straightforward mission: helping a financial industry that grew up in war to survive in peace. Money transfer firms which kept cash flowing into Somalia during two decades of conflict when the nation's formal...

  • WASHINGTON, Feb 26- The United States and five East African countries pledged on Thursday to ease trade flows and set the stage for more U.S. investment, a program that could be extended to other parts of Africa. The agreement commits Tanzania, Kenya, Uganda, Rwanda and Burundi to cooperate with the United States in customs issues, ease red tape at borders, reduce...