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The Charts Showing Why Ghana Central Bank May Cut Interest Rates

The Charts Showing Why Ghana Central Bank May Cut Interest Rates

Ghana’s central bank may cut its key interest rate for a third straight meeting with inflation at its slowest in four years and a strengthening currency. Consumer-price growth has tumbled 7.1 percentage points since reaching an all-time high of 19.2 percent in March last year. While the cedi weakened to a record low against the […]

Diggers, Drivers, Diamonds: How Congo’s Zoe Kabila Makes Money

Diggers, Drivers, Diamonds: How Congo’s Zoe Kabila Makes Money

Zoe Kabila, the brother of Congolese President Joseph Kabila, owns a business empire that encompasses everything from tourism to mining. His companies have sold diamonds, owned a luxury hotel on Congo’s Atlantic coast, built roads, invested in farming, set up a fast-food franchise and printed driver’s licenses, according to a review of corporate filings obtained […]

Telecoms Regulator Approves Etisalat Nigeria Name C0hange

Telecoms Regulator Approves Etisalat Nigeria Name C0hange

Nigeria’s telecoms regulator has approved Etisalat Nigeria’s name change after its Middle East parent pulled out following regulatory intervention to save the local company from collapse due to debt, the company said. The Nigerian Communications Commission (NCC) has been notified of the new name, 9mobile, the company said, adding that Etisalat Nigeria had started the […]

An OPEC Country Breaks Ranks and Increases Oil Output

An OPEC Country Breaks Ranks and Increases Oil Output

Ecuador has dealt a blow to OPEC unity by announcing it will start raising oil production this month, arguing it needs the money. OPEC has for years cheated on its own agreements, particularly when oil prices fail to recover after an output cut. But Ecuador has taken the rare step of saying publicly it will increase […]

Miner Lonmin Cuts Costs, Builds Cash In Q3

Miner Lonmin Cuts Costs, Builds Cash In Q3

  Platinum miner Lonmin cut more costs and improved its mining performance in its third quarter, it said on Monday, but falling metal prices continued to weigh. Shares in the South Africa-focused company were up 7 percent in London by 0920 GMT, outpacing the wider sector. Lonmin has been struggling with shrinking profit margins due […]

Aliko Dangote To Invest $4.6 Billion In Agriculture

Aliko Dangote To Invest $4.6 Billion In Agriculture

Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars needed to import raw materials. The conglomerate plans to increase its production of sugar to […]

Wage Fight Sets South Africa On Course For Engineering Strike

Wage Fight Sets South Africa On Course For Engineering Strike

South Africa’s metalworkers union said on Friday it has requested a certificate to strike in the engineering sector after wage hike talks deadlocked, and expects a decision by 15 July. The union – the National Union of Metalworkers of South Africa, or NUMSA, wants wage hikes of 15 percent across-the-board in the metal and engineering […]

Congo In Talks With Russia’s VTB For $1 bln Investment

Congo In Talks With Russia’s VTB For $1 bln Investment

  Democratic Republic of Congo is in talks with Russian state-owned bank VTB over potential investments worth as much as $1 billion, Congolese officials said, though VTB said there had been no discussions about bilateral lending. Africa’s top copper producer has been hit hard by low commodity prices in recent years. It has only enough […]

Kenya Reviews Mining Laws as Industry Struggles to Grow

Kenya Reviews Mining Laws as Industry Struggles to Grow

Kenya is reviewing its mining code, a year after enacting new legislation, as it seeks to attract investment into an industry that’s barely grown over the past five years. The government is working with the U.K. Department for International Development-funded Extractives Hub to come up with a revised law that balances investor returns with government-revenue […]

Goldman to Review Commodities After Worst Start in a Decade

Goldman to Review Commodities After Worst Start in a Decade

Goldman Sachs Group Inc., the dominant commodities trader on Wall Street, is reviewing the direction of the business after a slump in the first half of the year, according to people with knowledge of the matter. By reconsidering the bank’s long-held view that the downturn in profitability is cyclical and will eventually reverse, Chief Executive […]

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