Business News Africa

  • *StanC completes Asia sale to Actis. The UK- based bank, whose business is focused on Asia, Africa and the Middle East, did not disclose the size of that deal. Reuters reported in November the real estate principal finance business has around $700 million in investments across Asia and Africa.

  • *StanC completes Asia sale to Actis. LONDON, Aug 20- Standard Chartered has completed the sale of its principal finance real estate business in Asia to private equity firm Actis, the bank said on Monday. Reuters reported in November the business has around $700 million in investments across Asia and Africa.

  • LUSAKA, Aug 20- Ethiopian Airlines has signed a shareholding agreement with Zambia's main develoment agency to relaunch the southern African country's flag carrier at an initial cost of $30 million. Under the plan, Zambia Airways, being revived more than two decades after it was shut down, would operate 12 planes by 2028, Ethiopian Airlines said in a joint...

  • ABIDJAN/ LONDON, Aug 20- Poor liquidity within Ivory Coast's banking system caused by the collapse of the top cocoa producer's largest domestic exporter risks hindering exports at the start of the upcoming main crop, exporters and bank officials said. And then in July, a court ordered the liquidation of SAF-Cacao, Ivory Coast's largest domestic exporter, which...

  • BUENOS AIRES- Central Bank of Argentina releases monetary policy statement WARSAW- National Bank of Poland holds monetary policy council meeting. BUDAPEST- Hungarian Central Bank holds its rate-setting meeting- 1200 GMT. SYDNEY- Reserve Bank of Australia will release the minutes of August monetary policy meeting 0130 GMT.

  • ABUJA, Nigeria— Nigerian rescue officials say they are working to pull out a number of people trapped under the rubble of a collapsed shopping complex that was under construction in the capital, Abuja. Labaran Ahman, Federal Capital Emergency Agency search and rescue chief, said Friday that many people were rescued by bystanders after the four-story building...

  • NAIROBI, Aug 17- Uber the global ride-hailing company, is considering expanding into two other East African countries before the end of 2018, focusing on low cost services like Chap Chap in Kenya, the company said on Friday. In Kenya, East Africa's richest economy per capita, Uber competes with Estonian ride-hailing firm Taxify, Nairobi- based Mondo Ride and...

  • MOSCOW, Aug 17- Russia's agriculture ministry said it held a meeting on Friday with grain exporters to discuss export volumes of grains. Russia is one of the world's leading grain exporters with massive sales especially of wheat to regions including the Middle East, Africa and Asia. Chicago wheat rose sharply after the news, as the United States and the European...

  • *WH Group ordered to shut Zhengzhou plant for 6 weeks. *Previously undetected in China or East Asia. The discovery of infected pigs in Zhengzhou city, in central Henan province, about 1,000 kilometers from the first case ever reported in China, pushed pig prices lower on Friday and stirred animal health experts' fears of fresh outbreaks- as well as food safety...

  • *WH Group ordered to shut Zhengzhou plant for 6 weeks. *Previously undetected in China or East Asia. The discovery of infected pigs in Zhengzhou city, in central Henan province, about 1,000 kilometers from the first case ever reported in China, has stirred animal health experts' fears of fresh outbreaks- as well as food safety concerns among the public.

  • **MANILA, Philippines- Philippines central bank Governor Nestor Espenilla Jr. at an economic forum 0130 GMT. **JOHANNESBURG, South Africa- South African Reserve Bank Governor Lesetja Kganyago addresses learners- 1030 GMT BOGOTA- Colombia's new president Ivan Duque, as well as members of his cabinet, central bank board members and business leaders will attend a...

  • JOHANNESBURG, Aug 16- Members of South Africa's AMCU mining union are ready to strike for a year if necessary and would bring the platinum belt to a standstill if Impala Platinum carries out plans to cut up to 13,400 jobs, the union's president said on Thursday. "No-one scares us, five months was nothing," said a visibly angry Mathunjwa before thousands of his members,...

  • JOHANNESBURG, Aug 16- Gold Fields' chief executive officer Nick Holland said on Thursday he was not considering resigning after mines minister Gwede Mantashe blamed the company's plan to cut jobs at its struggling South African mine on "poor management." The bullion producer's plans drew scathing comments from Mantashe, a blunt-speaking former trade...

  • ACCRA, Aug 16- The currencies of Ghana, Zambia and Uganda are likely to trade on the back foot in the coming week but those of Nigeria and Kenya may hold steady. Ghana's cedi could remain under pressure as the dollar strengthens and risk-averse investors pull out from emerging market assets, analysts said. At 1142 GMT on Thursday, commercial banks quoted the...

  • PARIS, Aug 16- Shortly after launching a new project in Angola, French oil major Total said it was searching for more resources in Africa, including in Senegal and Mauritania. The company is historically strong in Africa and, buoyed by rising oil prices and improved terms for its multi-billion dollar Kaombo contract in Angola, it is doubling down.

  • *Angola oil output in decline. LUANDA, Aug 16- Angola will launch next year a new agency to handle oil concessions, the government said on Thursday, as President João Lourenço pushes ahead with reforms aimed at boosting production in Africa's second biggest oil industry. Angola hopes the shift will help reverse a decline in oil output in the OPEC member by...

  • JOHANNESBURG, Aug 16- Gold Fields' plan to cut jobs at its struggling South African mine fails to address "poor management," mining minister Gwede Mantashe said on Thursday, piling pressure on chief executive Nick Holland. South Deep, the company's last South African asset, has faced operational obstacles in a tough geological setting 3 km below the surface and has...

  • ANNABA, Algeria, Aug 15- The Sidi Rezine refinery in the Algerian capital Algiers will come back online at the beginning of 2019 with an estimated output of 3.6 million tonnes of refined products, a senior official at state energy company Sonatrach told Reuters on Wednesday.

  • CASABLANCA/ RABAT, Morocco, Aug 15- Morocco has managed to keep its currency stable since introducing a more flexible foreign exchange system, but broader reforms are necessary to boost investment before taking the next step in liberalisation, bankers say. In January, the kingdom widened the band in which the dirham trades against hard currencies to 2.5 percent...

  • CASABLANCA/ RABAT, Morocco, Aug 15- Morocco has managed to keep its currency stable since introducing a more flexible foreign exchange system, but broader reforms are necessary to boost investment before taking the next step in liberalization, bankers say. In January, the kingdom widened the band in which the dirham trades against hard currencies to 2.5 percent...