Carlyle has raised $698 million for its dedicated Africa fund, nearly $200 million above its initial target.» Read More
PARIS, April 14- French oil company Total said on Monday it had decided to go ahead with its Kaombo oil project offshore Angola after lowering its cost by $4 billion to $16 billion. Angola is Africa's second largest oil producer and it wants to increase production to 2 million barrels per day next year from 1.73 mbpd in 2013..
NEW YORK/ LONDON, April 11- Palladium prices shot through $800 an ounce for the first time in almost three years on Friday after a burst of heavy early buying triggered light buy stops as investors bet on tightening supplies from top exporter Russia and strong automotive demand.
DAKAR, April 11- Entrepreneurs are central to bridging Africa's widening inequality gap but most governments on the continent are not doing enough to help them, the regional head of billionaire Pierre Omidyar's philanthropic arm said.
TRIPOLI, April 11- Libya may have averted a state collapse by striking a deal with eastern rebels to reopen occupied oil ports, but technical delays and simmering federalist dissent threaten to disrupt production once again.
DAKAR, April 11- Three years after disputed elections led to bloodshed, Ivory Coast has emerged as one of the most exciting opportunities for private equity investors in Africa, with a dynamic workforce keen to put a decade of turmoil behind it, a senior investor said on Friday.
Richard Lesiyampe said six senior Kenya Wildlife Service officials have been placed on leave to pave the way for investigations into the wildlife service's operations. Among those sent on leave is the senior deputy director in charge of conservation, Patrick Omondi, who is also known as "Elephant Man" in Kenya for his top level expertise.
DAKAR/ JOHANNESBURG, April 11- For centuries, colonial era merchants tussled for access to Africa's raw materials, and huge swathes of Africa's geography became synonymous with the main commodity they exported: Gold Coast, Ivory Coast, the Spice Island of Zanzibar.
LAGOS, Nigeria— The official News Agency of Nigeria reports Zimbabwe's envoy has been called in for a complaint about President Robert Mugabe's remarks about corruption in Nigeria. It says the ministry of foreign affairs on Thursday told Zimbabwean diplomat Stanley Kunjeku that Nigeria will not tolerate Mugabe's "vitriolic and denigrating" attack.
LONDON- Global equities slip to a two-week low, with an escalating selloff on Wall Street led by technology and biotech shares on concerns of stretched valuations spreading to Asia and Europe. Co-op Bank confident of raising funds to secure future.
Anna Rosenberg, sub-Saharan Africa analyst at Frontier Strategy Group, discusses what the implications of Nigeria becoming the biggest African economy are for the country and the continent.
*Artisanal mining destroying plantations in Ghana, Ivory Coast. YOHO, Ivory Coast, April 11- A month ago, Bouafu Kouassi dug a neat circular hole in the middle of his one-hectare cocoa plantation in western Ivory Coast, and, sifting through the gravel on his shovel, found the unmistakeable traces of gold dust.
*Ghana's TUC rejects a wage freeze. ACCRA, April 10- For a decade, Ghana powered ahead as it started pumping oil, won debt forgiveness, achieved coveted middle-income status and saw five years of economic growth above 8 percent that made it the envy of other African nations.
*Angola to boost output to 9.5 mln carats this year. LUANDA, April 10- Angola, the world's fourth-largest diamond producer by value, will approve a new concession to De Beers to explore for diamonds, Geology and Mines Minister Francisco Queiroz said.
*Policy makers play down QE tapering, China slowdown impact. From Senegal to Nigeria and Rwanda, officials play down the impact on investment and capital inflows from the U.S.
DAKAR/ LONDON, April 10- Africa's dependency on fuel imports is likely to grow as its refining projects struggle to get off the ground, a Vitol director told a Reuters Africa Summit.
NAIROBI, April 10- Seven Seas Technologies, one of Kenya's biggest IT companies, has pushed back its initial public offering until 2017 to allow it time to tap new countries in Africa and reduce its reliance on its home market.
*Need to focus on GDP per capita, World Bank says. *Nigeria needs to improve infrastructure, beware inequality. Nigeria's 2013 GDP was rebased up to an estimated nearly $510 billion- a "pie" one and half times the size of South Africa's, but feeding more than three times as many people.
Although the numbers released Wednesday by market research firms Gartner and IDC mark the industry's eighth straight quarter of declines, they also show a considerable slowdown from the drops in the fourth quarter of 2013..
DAKAR/ LONDON, April 9- A Guinea government report recommended that BSG Resources and its joint venture partner, Brazilian mining giant Vale, be stripped of two iron ore concessions, saying BSGR obtained the rights by corruption.
DAKAR/ LONDON, April 9- A Guinea government report recommended that BSG Resources be stripped of two iron ore concessions, saying the company and a joint venture it owns with Brazilian mining giant Vale obtained the rights by corruption.