AllAfrica News: Economy, Business and Finance
THE Department of Home Affairs would be hardest hit by the public service workers' strike, a union warned yesterday.
South Africa: Civil Servants to Strike
BP Plc is in talks with India's Reliance Industries and Essar Group to sell its African retail assets, including those in Namibia, that could be worth as much as US$500 million, four sources with direct knowledge of the matter told Reuters yesterday.
Africa: Race On for BP's African Assets
Political risks to investment are easing gradually across Africa, making it easier to tap into the continent's robust growth, Africa's top private equity investor Emerging Capital Partners (ECP) has said.
Africa: Investor Sees Africa Risks Easing, Plenty of Growth
European Union (EU) Trade Commissioner Karel de Gucht has appeased leading European civil society organisations about the negotiations for a Southern African economic partnership agreement (EPA), promising "not to put undue pressure" on countries.
Southern Africa: EU Backs Off on EPA
Diamond researcher and human rights activist Farai Maguwu has been slapped with fresh charges, just over two weeks after his release on bail from Harare Remand Prison.
Zimbabwe: Diamond Researcher Slapped With Fresh Charges
The Malawian government has again stood firm in the face of calls by the European Union (EU) to sign an economic partnership agreement (EPA) -- even after top-level EU officials visited the southern Africa to convince it to put pen to paper.
Malawi: Country Stands Firm on Conditions of Trade Agreement with EU
Tullow Oil's Ngiri-2 appraisal well in the Butiaba Block 1 has encountered more than 40 meters of net oil bearing reservoir, the thickest oil pay so far encountered in the Butiaba area.
Uganda: Company Finds More Oil
Women are the majority in the Angolan informal market, even though they now start to have the same levels of professional responsibility and competences as men.
Angola: Most Workers in Informal Market Are Women - Govt Official
Thirty-four African women entrepreneurs are participating in the 2010 U.S.-Sub-Saharan Africa Trade and Economic Cooperation Forum -- better known as the AGOA Forum -- and the African Women's Entrepreneurship Forum to further enhance the U.S.-Africa trade relationship by expanding their businesses and increasing economic growth in their own countries.
Africa: Thirty-Four African Businesswomen Attending Agoa Forum
A young Sierra Leonean working to improve his nation by strengthening civil society and job creation will share his ideas about Africa's future with President Obama as he attends the President's Forum with Young African Leaders August 3-5.
Sierra Leone: Youth Attending Obama's Young African Leaders Forum
Jatropha, a wild plant that grows well in dry areas on degraded lands and can be processed into biofuel, has potential as a low-cost energy source for poor farmers, according to a new United Nations report, which adds that further research is still needed on this crop.
Nigeria: Wild Plant May Provide Energy for Poor - Report
Indian billionaire Mukesh Ambani, who is Asia's richest man, has joined the race to buy the assets of the British Petroleum (BP) Company in Tanzania and three other African countries.
Tanzania: Asia's Richest Person Bids For BP Tanzania
THE North Gauteng High Court yesterday granted truck drivers three months to adjust to a new system that requires foreign drivers operating South African trucks to obtain work permits rather than use visitor permits. The move was in line with the Department of Home Affairs' continued tightening of entry requirements into SA that started before the World Cup.
South Africa: Foreign Truck Drivers Given Time to Adjust to New Rule
BLACK business was set to benefit from a three-year multimillion-rand scheme, the Department of Trade and Industry said yesterday.
South Africa: New State Scheme to Boost Black Enterprises
Consumer price increases for last month below consensus forecast of 4,5%.
South Africa: Inflation Slowdown Raises Speculation About Rate Cut
ANY move to devalue the rand would drive up food inflation and hit SA's poor the hardest, Pick n Pay chairman Gareth Ackerman warned yesterday.
South Africa: 'Poor Will Suffer' From a Cheaper Rand
REMARKS by ArcelorMittal CEO Mittal CEO Nonkululeko Nyembezi-Heita yesterday reinforced what Kumba Iron Ore's CEO has said about the prospect of the two companies reaching a long- term supply agreement, and avoiding a lengthy and expensive arbitration.
South Africa: Mittal Hints at Settling With Kumba
Governor of the Central Bank of Nigeria (CBN), Malam Sanusi Lamido Sanusi, yesterday did a critical review of the national economy at the meeting of the Federal Executive Council (FEC) and concluded that there was no cause for alarm.
Nigeria: Sanusi - No Cause for Alarm On National Economy
Oil giant Shell has offered some of its oilfields in the Niger Delta valued at between $150 million to $2 billion for sale, THISDAY investigations have revealed.
Nigeria: Shell to Sell Four Oil Blocks in Niger Delta
The House of Representatives yesterday witnessed another rowdy session following the disagreement amongst lawmakers over a proposal by the Nigeria Communications Commission (NCC) to expend the sum of N6.1 billion for the registration of mobile phone SIM cards in the country.
Nigeria: N6.1 Billion Sim Registration Tears House Apart
EIGHTY-nine lives were lost in Anambra State through motor accidents between January and June this year, the sector commander of the Federal Road Safety Corps, FRSC, Mr Ayobami Omiyale, has said.
Nigeria: Auto Crashes Claim 89 in Anambra
COMMERCIAL and social activities in and around Apapa, Lagos were abruptly brought to a halt Wednesday after a petrol tanker exploded into flames burning its driver and motor boy to death.
Nigeria: Fuel Tanker Explodes, Kills Two in Lagos
FOR SA to achieve Finance Minister Pravin Gordhan's long-term economic growth target, the government should focus on allowing the private sector to flourish by spending on infrastructure, economist Rian le Roux said yesterday.
South Africa: No Quick Fixes for 7 Percent Growth, Finance Minister Told
Early this morning, 29 July, the Maltese flagged merchant vessel MV FRIGIA was released.
Somalia: Hijacked Maltese Flagged Merchant Vessel Released
They are tech-savvy, ambitious and easily bored and they are presenting new challenges to managers in many companies.
Kenya: Youth Changing the Workplace
The ninth annual United States-Sub-Saharan Africa Trade and Economic Cooperation Forum, better known as the AGOA Forum, includes two new elements this year.
Africa: AGOA Forum Highlights 'New Strategies for a Changing World'
Tullow Oil has made a further oil discovery in Uganda after the Ngiri-2 appraisal well came up trumps with the thickest oil pay found so far in the Butiaba area.
Uganda: More Oil Discovered
Over 2000 community health workers in Ngoma and Rwamagana districts, on Tuesday, received mobile telephones.
Rwanda: 2,000 Community Health Workers Get Cell-Phones
Rwanda is using the 7th Pan African Dance Festival to woo potential investors into its blossoming creative and performing arts industry.
Rwanda: Region Woos Investors in Creative Industry
Business came to a standstill, yesterday, as traders from popular central business hubs, Quartier Commercial and Quartier Mateus, in Nyarugenge District, flooded the streets in support of RPF candidate, Paul Kagame. They danced and sang in support of the RPF presidential candidate.
Rwanda: City Traders Drum Up Support for Kagame