Business News Africa

  • HARARE, Aug 16- Please file from eMEA Zimbabwe's main opposition party called off planned anti-government demonstrations on Friday, saying it aimed to avert bloodshed after police rounded up its followers and dispersed them with batons and water cannon. The Movement for Democratic Change, which accuses President Emmerson Mnangagwa's government of...

  • HARARE, Aug 16- Zimbabwe's main opposition leader said his party backed down from a planned anti-government protest on Friday to avoid bloodshed and signalled the MDC would change tactics in confronting what it called a "fascist" government. Nelson Chamisa, the MDC leader who disputes President Emmerson Mnangagwa's election win last year and accuses him of...

  • LAGOS, Aug 16- A judge in London said on Friday he would grant a firm called Process and Industrial Developments Ltd the right to seek to seize some $9 billion in assets from the Nigerian government over an aborted gas project. With interest payments, the sum now tops $9 billion- some 20% of Nigeria's foreign reserves. A spokesman for Nigeria's President Muhammadu...

  • HARARE, Aug 16- Zimbabwe police fired tear gas and beat scores of opposition supporters gathered in central Harare on Friday, as authorities moved to enforce a ban on an anti-government protest that the country's high court had upheld. More than a hundred Movement for Democratic Change supporters defied the ban, witnesses said. But with armed police having...

  • HARARE, Aug 16- Zimbabwean police fired tear gas and beat up more than a 100 opposition supporters with batons on Friday after they defied a protest ban in central Harare, witnesses said.

  • ZIMBABWE POLICE FIRE TEAR GAS, WATER CANNON TO DISPERSE MDC SUPPORTERS GATHERED IN CENTRAL HARARE- WITNESSES.

  • HARARE, Aug 16- Zimbabwe's main opposition MDC party succumbed on Friday to pressure from what it labeled a fascist government, calling off a street protest as armed police set up roadblocks and barred access to its Harare offices. Friday's demonstration was to have been the first in a series planned by the Movement for Democratic Change, which accuses the...

  • NAIROBI, Aug 15- Kenya has approved its first ever issuance of a green bond, which will raise 5 billion shillings for student accommodation, the capital markets regulator CMA said on Thursday. "The issuance is a critical step in advancing the development of an effective ecosystem to support the establishment of green capital markets in Kenya," the CMA said in a...

  • LAUNCESTON, Australia, Aug 15- The prevailing market view on coal is that the industry is now facing terminal decline, as renewables and natural gas displace the polluting fuel. Recent media headlines on the seaborne market are largely bearish, with one of the latest being an interview of Guillermo Fonseca, the chief executive of Colombian coal exporter...

  • GABORONE, Aug 14- Botswanan budget retailer Choppies Enterprises said on Wednesday it planned to sell its stores in South Africa as growth stutters and unemployment soars in Africa's most advanced economy. The company, whose stock is currently suspended from trading on its primary bourse in Botswana as well as on the Johannesburg stock exchange, operates 88...

  • NAIROBI, Aug 14- Kenya's government revenues grew 11% in the 2018/ 19 fiscal year, the tax authority said on Wednesday, but this fell short of the target set for the year. The Kenya Revenue Authority said in a statement its collections grew to 1.58 trillion shillings during the year to end-June, up from 1.435 trillion shillings in 2017/ 2018.. Kenya is one of the...

  • *H1 headline earnings per share 918.4 cents vs 877.8 last year. JOHANNESBURG, Aug 13- A drop in earnings at Absa's South African corporate and investment bank took the shine off progress at its core domestic retail business as the lender reported a 5% rise in first-half profit on Tuesday. Its drive to regain retail banking market share at home and grow sales...

  • Geneva prosecutor Claudio Mascotto said in a statement the three were accused of "having promised in 2005 and then paid or had bribes paid to one of the wives of former Guinean President Lansana Conte" so as to have mining rights in Guinea's Simandou region allocated to Beny Steinmetz Group Resources. BSGR walked away from Guinea's massive Simandou iron ore...

  • BRAZZAVILLE, Aug 12- An oil discovery in Republic of Congo could produce nearly 1 million barrels of oil per day, a company involved said on Monday, possibly quadrupling the nation's output and propelling it into the same league as Africa's largest producers. Congo's cash-strapped energy industry has been boosted by major recent finds from Italy's ENI and...

  • LONDON, Aug 12- Tullow Oil announced on Monday a major oil discovery in the Orinduik block in Guyana, raising expectations it will move to develop a field in the oil-rich South American country. Tullow shares surged more than 12% in early trade in London. It looks like we have a long-term business in Guyana, "McDade told Reuters in an interview.

  • LONDON, Aug 9- Nigerian oil has suffered its slowest sales of the year in August, traders said, as U.S. exports of competing light, sweet grades flood traditional markets in Europe and Asia. Permian basin is pouring ever more into traditional strongholds for Nigerian oil in Western Europe, India and Indonesia. According to IHS Markit, Europe has imported around 46%...

  • Aug 8- Barrick Gold Corp is looking to sell its Tongon gold mine in the Ivory Coast and is working with Bank of Nova Scotia to identify buyers, Bloomberg said https://www.bloomberg.com/news/articles/2019-08-08/barrick-said-to-weigh-sale-of- t o n g o n- m i n e- a m i d- a s s e t- d i s p o s a l s on Thursday. The Tongon mine, located north of the Ivory Coast's port city of...

  • *Trading desk in Lagos will have 30 staff. LAGOS, Aug 8- Africa's largest oil refinery will not be finished until the end of 2020 due to problems importing steel and other equipment, executives at Dangote, which is building the facility in the Nigerian commercial hub of Lagos, told Reuters. Despite the delays at the congested Apapa and Tin Can Island ports in Lagos, a...

  • *Looking to redeem preference shares in Nigeria. JOHANNESBURG, Aug 8- MTN Group Ltd is on track to meet a divestment target set in March after raising $140 million from asset sales that will slim down Africa's largest mobile phone operator and refocus it on high-growth markets. "So we're well on track for our 15 billion rand," Chief Executive Rob Shuter told...

  • NAIROBI, Aug 8- Ethiopia's central bank granted a financial services license to a foreign-owned company for the first time on Thursday, as the government begins to open up the economy of Africa's second most populous nation. The company is owned by New York- based equipment leasing firm Africa Asset Finance Company. "Almost every factory in Ethiopia will be able...