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Ghana Orders Security Forces to Clamp Down on Cocoa Smuggling

Ghana Orders Security Forces to Clamp Down on Cocoa Smuggling

Ghana’s cocoa regulator said the nation’s security forces will clamp down on the smuggling of beans as a disparity in producer prices are encouraging illegal trade with neighboring Ivory Coast. The world’s second-biggest cocoa producer is trying to stop smuggling from Ivory Coast, where the chocolate ingredient cost a quarter less than in Ghana. The […]

Dangote Ups Ante for PPC With Cash, Share Offer

Dangote Ups Ante for PPC With Cash, Share Offer

  Dangote Cement Plc, the Nigerian company controlled by Africa’s richest person, has written to PPC Ltd. offering South Africa’s biggest cement maker cash and shares as part of a takeover deal that is fueling a bidding war. PPC’s shares rose. “We are waiting for them to get back to us, hopefully early next week,” […]

KPMG Slammed by South Africa’s Pravin Gordhan Over Tax Report

KPMG Slammed by South Africa’s Pravin Gordhan Over Tax Report

Pravin Gordhan, who was ousted from his post as South Africa’s finance minister in March, slammed KPMG LLP after it withdrew a report on the country’s tax agency that was used as evidence in a police probe against him and led to the removal of senior staff. The auditing firm said on Friday that its […]

One Hundred Years Later, Heart of Congo Ships Oil Again

One Hundred Years Later, Heart of Congo Ships Oil Again

The equatorial sun pierces the forest canopy as two laborers manipulate a machete at the end of a long pole to cut hard red fruits from the top of a soaring palm. The heavy bunches are collected by hand and trucked to a mill, where palm oil is extracted before beginning its journey down the […]

Dangote Cement Approaches South Africa’s PPC About Takeover

Dangote Cement Approaches South Africa’s PPC About Takeover

Dangote Cement Plc has approached PPC Ltd. about a takeover deal, signaling the start of a possible bidding war for South Africa’s biggest cement maker after an earlier offer led by Canada’s Fairfax Financial Holdings Ltd. Dangote has told PPC’s board that it’s interested in buying “the entire share capital,” the Lagos-based company said late […]

Zimbabwe Alloys Hands Over Half Of Its Mining Claims To Mugabe Govt

Zimbabwe Alloys Hands Over Half Of Its Mining Claims To Mugabe Govt

Zimbabwe Alloys, the country’s second largest ferrochrome producer, has ceded half of its mining claims to the government, a state-owned newspaper said on Wednesday, ending more than a year of negotiations. President Robert Mugabe’s government last June threatened to seize half of ZimAlloys 39,175 hectares of mining ground, but the mining company stood firm saying […]

Bob Diamond Sees Brexit’s Impact More Profound Than Expected

Bob Diamond Sees Brexit’s Impact More Profound Than Expected

Bob Diamond, the architect of Barclays Plc’s investment bank over more than a decade in London, said the British capital will be hurt more than people expect from Brexit, with lawyers likely to join bankers in moving away. “People are beginning to understand Brexit is going to be far more profound and long-lasting than they […]

Ivory Coast Weighs Cocoa Tax Cuts to Lift Farmer Pay

Ivory Coast Weighs Cocoa Tax Cuts to Lift Farmer Pay

Ivory Coast is considering cutting taxes on buying and and exporting of cocoa to allow for an increase in the minimum price paid to farmers in the upcoming season, according to a person familiar with the matter. The world’s biggest producer of cocoa is unlikely to raise the minimum price that it allows merchants to […]

African Petroleum To Take Gambian Dispute To Court

African Petroleum To Take Gambian Dispute To Court

African Petroleum Corp plans to go to court to resolve its dispute with Gambia, the Norwegian-listed company said on Monday, after the government stripped it of its rights to explore for oil in two offshore areas. “It is a matter of regret that it has come to this; however, we are confident in our legal […]

South Africa’s Petrol, Diesel Pump Prices To Rise In September

South Africa’s Petrol, Diesel Pump Prices To Rise In September

The retail price of petrol and the price of wholesale diesel in South Africa will increase from Sept. 6, the energy department said. The price of petrol will rise by 67 cents to 13.72 rand per litre in the commercial hub of Gauteng province, while diesel will go up by 44 cents to 11.70 rand, […]

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