News - CNBC Africa

Southern Africa

S.Africa’s metros set for an ‘age of rail’

02/07/2015 14:27:07

South Africa's metro areas set for rail revolution.

Zimbabwe stock market cap sheds $500 mln in H1, foreigners exit

02/07/2015 12:51:34

The market capitalisation for Zimbabwe's Stock Exchange (ZSE) fell 11 percent to $4 billion as foreign investors old shares.

S.Africa’s new power plant to help ease load shedding

02/07/2015 12:30:54

New solar plant is set to add 50 MW into the national power grid.

S.Africa to import white maize from Mexico: industry source

02/07/2015 08:48:41

South Africa will import about 50,000 tonnes of white maize from Mexico in a bid to bulk up waning stocks.

Western Africa

Suspected Boko Haram gunmen kill "many" in Nigeria attack

03/07/2015 08:28:20

Suspected Boko Haram insurgents rounded up and shot dead dozens of people in a raid in a town in northeast Nigeria on Wednesday.

Investors see growing risks in Nigeria's devaluation delay

03/07/2015 07:23:02

Nigeria's decision to delay a naira devaluation they see as long overdue is raising risk of a deeper crisis in Africa's biggest economy.

Bombers attack Nigeria's Maiduguri while vice president visits camps

02/07/2015 07:26:59

Two suicide bombers blew themselves up near a hospital in Maiduguri shortly after Vice President Yemi Osinbajo arrived in the city.

Nigerian's need to rethink how they think

01/07/2015 11:45:46

Strategic thinking has been identified as the missing element required in solving Nigeria’s economic plight.

East Africa

Ugandan central bank chief says shilling depreciation "unavoidable"

03/07/2015 07:58:13

Uganda's central bank says it's not sustainable to continue maintaining local currency at a level not reflective of its market value.

Rwanda targets $1.2 bln foreign investment in 2015

03/07/2015 07:38:11

Kagame's Rwanda aims to increase foreign direct investment in 2015 to 1.2 billion US dollars.

Rwanda’s finance minister on the secret of the country's success

02/07/2015 14:03:48

Rwanda’s economy is on a solid incline with the GPD growing to 7.6% in the first quarter of the year.

Africa tops entrepreneurship charts

02/07/2015 10:56:12

According to a research by Approved Index, four African countries have the highest levels of entrepreneurship in the world.

Financial

Greece considers EU’s last-ditch deal

30/06/2015 13:20:17

Head of the European Commission makes last-minute offer to try to persuade Greek Prime Minister Alexis Tsipras to accept a bailout deal.

S.Africa's rand stabilises, Greece poses risk

30/06/2015 09:03:09

S.Africa's rand was off the previous day's two-week lows against the dollar in early Tuesday trade, but still vulnerable to Greece woes.

S.Africa's rand, bonds weaken sharply in Greece-related sell-off

29/06/2015 08:16:51

S.Africa's rand fell one per cent against the dollar on Monday due to the looming prospect of a default by debt-ridden Greece.

Zimbabwe state asset manager takes up $100 mln in bad loans

25/06/2015 09:56:01

ZAMCO has so far taken nearly $100 million in bad loans from banks to help restore viability in the financial sector.

Industrials

Africa to launch 26-nation trade block in June - official

21/05/2015 17:21:12

African countries will launch a framework next month to create a 26-nation free trade area to boost regional trade and investment.

PPC says H1 profit dips

19/05/2015 10:45:14

South Africa's biggest cement maker PPC Ltd reported a 38 per cent decline in half-year profit on Tuesday.

Group Five under collusion spotlight once again

17/03/2015 14:19:47

Group Five is in the hot seat again after being accused of collusive tendering.

Transnet says to roll out new locomotives in July

02/03/2015 12:34:22

Transnet plans to expand the railways, ports and pipelines that move commodities for export from Africa's most advanced economy.

Mining

Update 2: Gold miners, Unions set for a showdown today

29/06/2015 07:58:56

Miners and Unions are set for a showdown today as miners will table their offer.

Lonmin shares drop as report criticises company over Marikana killings

26/06/2015 11:28:41

Shares in London-listed platinum producer Lonmin dropped to their lowest level in 3-1/2 months.

Assore buys African Rainbow Mineral's stake in chrome mine

25/06/2015 09:36:12

South African iron ore producer Assore said on Thursday it had bought out African Rainbow Minerals' s Dwarsrivier chrome mine.

Job cuts on cards in mine shake up: Amplats

23/06/2015 09:00:55

Anglo American Platinum said on Tuesday it aimed to reconfigure a number of its South African mines.

Resources

South Africa’s taps are fast running dry

07/05/2015 10:24:23

As if the power crisis was not enough, South Africa has tumbled into another one where citizens could find themselves without water.

Exxaro CEO Sipho Nkosi to retire, appoints CEO-designate

30/03/2015 14:43:52

Exxaro has appointed a CEO-designate following the announcement that its current CEO, Sipho Nkosi is set to retire.

BP and partners to invest $12 bln in Egypt gas deal

06/03/2015 14:37:18

The investment project by BP and its partners is expected to help Egypt as it tackles its worst energy crisis in decades.

Raising funds for Benin’s cotton season

20/02/2015 11:13:08

West African Development Bank (BOAD) is raising funds to aid the cotton season in Benin.

Technology

Now or never: Why timing matters in making the jump to ecommerce

12/06/2015 11:27:15

Digital Planet CEO Neil Watson makes the case for adding an online sales channel before it’s too late.

S.Africa's Telkom to cut 4,400 jobs to contain costs: spokeswoman

10/06/2015 08:29:50

Telkom spokeswoman said her company plans to cut 4,400 jobs to contain costs.

Striking MTN workers reject performance targets

01/06/2015 17:48:22

A strike by workers demanding higher pay has forced MTN Group to close some of its South African customer help centres.

MTN workers strike for a 10% raise

20/05/2015 06:57:37

MTN workers are on strike today demanding a 10 per cent increase.

IPO

Choppies lists on the JSE

27/05/2015 17:47:09

Choppies listed on the JSE and it is aiming to open 200 stores in Africa by the end of next year.

Greenstone IPO at $783 mln set to Australia's biggest for year so far

25/05/2015 09:40:00

S.Africa owned insurer Hollard Group plans to raise nearly A$1 billion ($783 million) by listing its Australian unit Greenstone Pty Ltd.

Virgin Active warms up to Johannesburg IPO: Sky News

06/02/2015 10:47:02

Virgin Active has hired Standard Bank Group to list the British health and fitness chain on the Johannesburg Stock Exchange.

African IPOs set to rise by a quarter in 2015: law firm

23/01/2015 12:02:50

The number of African companies listing shares could rise by a quarter this year if the firms that have said they plan an IPO move ahead.

Currencies

S.Africa's rand gains, supported by hopes of Greek breakthough

22/06/2015 10:06:44

The rand inched close to a one-month high on Monday as hopes of a breakthrough in the Greek debt crisis supported emerging markets assets.

Kenya's shilling hits 3-year low, shares rise

05/05/2015 17:27:37

Kenya's shilling weakened against the dollar on Tuesday.

S.Africa's rand gains, eyes on Greece, power cuts

20/04/2015 10:53:31

South Africa's rand was a tad stronger against the dollar early on Monday as China's move to cut reserve requirements lifted sentiment.

S.Africa signs $4.8 bln currency swap with China

10/04/2015 10:45:51

South African Reserve Bank said on Friday it has signed a three-year bilateral swap agreement with the People’s Bank of China.

Commodities

Brent falls towards $54, heads for third weekly loss

20/03/2015 07:38:11

Brent crude fell towards $54 a barrel on Friday and was on track for its third weekly loss.

US crude prices to drop to $40 a barrel as inventories rise -Goldman

09/03/2015 14:21:48

Oil prices will reverse their recent gains as global crude inventories begin to increase again.

Low oil price may affect African projects

17/02/2015 11:17:16

Oil and gas explorers may need to rethink their capital expenditure on activities conducted in Africa as the oil price continues to weaken.

Oil prices fall after last week's surge, strike action

02/02/2015 06:13:47

Crude oil prices fell on Monday after US unions called a refinery strike and traders cashed in on strong price gains last week.

Stocks

Euro sharply down as Greece crisis deepens, default looms

29/06/2015 07:02:04

Emerging market stocks are headed for the steepest drop in two years as Greece is strike a deal with lenders.

S.African stocks fall for 2nd day ahead of Fed decision

29/04/2015 17:58:22

South African stocks slipped again on Wednesday.

Tencent takes on Alibaba, Xiaomi with open smart hardware operating system

28/04/2015 10:43:28

Tencent launched an operating system for internet-connected devices such as TVs and watches that is open to all developers, taking on rivals

Anglo says IPO most likely route for some South Africa platinum mines

23/04/2015 16:34:10

Anglo American is looking to divest some of its highest-cost platinum mines in South Africa.

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Markets

  • All Share51,967.00
     
    0.15%
    Financial 1516,621.00
     
    0.51%
    Industrial 2567,133.00
     
    -0.09%
  • ZAR/EUR13.65
     
    0.7%
    ZAR/GBP19.16
     
    0.39%
    ZAR/USD12.30
     
    1.14%
  • Brent Crude Oil61.3
     
    -3.56%
    GOLD USD/oz1,167.8
     
    -0.01%
    Platinum USD/oz1,083.5
     
    0.13%
Price%Change
JSE All Share Index51,967.00Up0.15%
JSE Financial 1516,621.00Up0.51%
JSE Industrial 2567,133.00Down-0.09%
JSE Resources 1038,669.00Up0.11%
JSE Top 4046,356.00Up0.09%
Price%Change
ZAR/EUR13.65Up0.7%
ZAR/GBP19.16Up0.39%
ZAR/USD12.30Up1.14%
Price%Change
Brent Crude Oil61.3Down-3.56%
GOLD USD/oz1,167.8Down-0.01%
Platinum USD/oz1,083.5Up0.13%

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