News - CNBC Africa

News

Southern Africa

Naspers’ rating saved by R577 billion investment

27/08/2014 11:38:47

Ratings agency Moody’s has affirmed Naspers’ Baa3 rating due to its 577 billion rand investments in Tencent Holdings and Mail.ru Group.

Zimbabwe’s FBC Bank granted 60 mln dollar loan facility

27/08/2014 11:35:34

Standard Chartered Bank has announced that a 60 million US dollar loan facility for FBC Bank Limited has been concluded.

S.Africa dodges recession as Q2 GDP grows 0.6%

26/08/2014 11:24:51

South Africa's economy avoided slipping into a recession in the second quarter.

Pinnacle’s Tshivhase cleared of bribery charges

25/08/2014 15:31:04

Pinnacle Holdings executive director Takalani Tshivhase has been cleared of attempted bribery charges.

Western Africa

The Growth of the Nigeria's pasta industry

26/08/2014 13:18:47

There are various aspects which position pasta a staple food in Nigeria, since its introduction to the market, it’s enjoyed by generations.

The new era of outdoor advertising in Nigeria

26/08/2014 11:24:52

The Lagos State Signage and Advertisement Agency believe that outdoor advertising can be used to support infrastructure development.

Nigeria delays Q2 GDP data by one week

25/08/2014 12:24:09

Nigeria will delay the release of second-quarter GDP data by a week because of a backlog of work caused by a rebasing exercise.

Ivory Coast closes western borders over Ebola threat

23/08/2014 13:56:46

Ivory Coast has closed its land borders with Ebola-affected West African neighbours Guinea and Liberia.

East Africa

Kenya relaxes visa restrictions for S.African citizens

27/08/2014 11:09:30

Kenya expects South Africa to reciprocate its easing of visa laws to citizens after it scrapped requirements for South Africans.

High gas-flow tests boost BG's Tanzania LNG plans

27/08/2014 09:10:06

British gas company BG Group has produced higher-than-expected flows of gas from a test well off the coast of Tanzania.

Kenya overtaken by Ethiopia to become Africa’s largest refugee host

26/08/2014 14:32:03

Kenya, home to 575,334 refugees is no longer the largest refugee-hosting country in Africa.

Is saving a priority for many Kenyans?

26/08/2014 11:23:43

A robust saving culture is crucial to creating wealth and alleviating poverty in Kenya where many live below a dollar a day.

Financial

Growth still imminent for S.Africa's household sector

27/08/2014 14:16:07

Despite second quarter GDP growth returning to positive growth territory, South Africa’s household sector is not out of the woods yet.

Inflation to remain within 3 to 6% objective range

25/08/2014 17:37:10

The Bank of Botswana has said that it expects inflation to remain within the three to six per cent objective range in the medium term.

The future is bright for UBA shareholders: Elumelu

25/08/2014 16:33:58

Tony Elumelu who has been appointed as chairman of the United Bank for Africa (UBA) believes that there is much in store for shareholders.

Retirement reform a steep hill for National Treasury

20/08/2014 06:52:28

National Treasury’s plans to implement reforms in South Africa’s retirement system will have to extend beyond encouraging a savings culture.

Industrials

Manufacturing weighs down Tunisia economy

25/07/2014 15:15:38

Economic growth in Tunisia remained weak during the first quarter of 2014, weighed down in particular by the industrial sector.

Numsa strike hits hard on Ford SA

16/07/2014 15:27:34

One of the world's leading motor companies, Ford has expressed concern over the ongoing Numsa strike which halted its operations.

Ford halts production at S.African plant due to strike

14/07/2014 10:32:21

Ford said on Monday it has temporarily suspended production at one of its South African plants due to a strike at some of its suppliers.

Kenya’s cement market up for a stir

10/07/2014 17:13:34

Nigeria’s Dangote cement is set to stir up the cement industry in Kenya after the firm said they would double production capacity.

Mining

UPDATE: Lonmin CEO denies job cuts plan, says focus is on ramp up

25/08/2014 17:41:09

Platinum producer Lonmin slammed claims that it aimed to cut about 21 per cent of its South African workforce.

London Mining says Ebola outbreak could hit iron ore production

21/08/2014 10:18:13

London Mining Plc, whose only operating mine is in Sierra Leone, reported a first-half loss due to a drop in iron ore prices.

Implats announces closure of Bimha mine

20/08/2014 10:22:13

Impala Platinum (Implats) has announced the closure of Zimplats’ Bimha mine after an underground collapse at a section of the mine in July.

Harmony’s Target 3 placed on care and maintenance

19/08/2014 12:56:34

South Africa’s Harmony Gold has said that its Target 3 shaft will be placed on care and maintenance going forward.

Resources

PetroSA’s Mossel Bay LNG terminal development on hold

26/08/2014 14:54:00

PetroSA will no longer establish its Floating Liquified Natural Gas import terminal in Mossel Bay, the national oil company has said.

South, East Africa powering renewable energy drive

22/08/2014 13:29:20

South Africa, Kenya and Ethiopia are forecast to be the three largest markets for utility-scale renewable power in the 2014 to 2016 period.

BHP to assess growth prospects following demerger

21/08/2014 16:56:27

BHP Billiton has said that it will be assessing growth opportunities following its announcement of a demerger.

S.Africa geared up for energy alternatives

19/08/2014 06:34:41

South Africa’s integrated resources plan is expected to give the country much needed hope for the future of its electricity supply.

Technology

Discovery delves deeper into behaviour-based insurance

26/08/2014 11:31:52

Discovery Insure has partnered with Cambridge Mobile Telematics (CMT) to introduce the latest in behaviour-based short term insurance.

S.Africa's MTN dismisses job cut claims

25/08/2014 19:22:53

South Africa's MTN Group has bashed claims that it is laying off 850 managerial staff members.

Mozambique’s fast developing telecoms sector

25/08/2014 14:29:40

Mozambique’s telecoms sector continues to develop at a rapid pace, bridging the gap between its rural and urban areas.

S.Africa's MTN Group to cut nearly 850 managerial jobs - union

25/08/2014 12:07:00

South Africa's MTN Group plans to lay off around 850 managerial staff, a union official said on Monday.

IPO

Swala Oil debuts on Dar es Salaam bourse

12/08/2014 14:25:33

Tanzania’s Swala Oil and Gas Plc has become the first public owned oil and gas company in East Africa.

NSE launches its initial public offering

23/07/2014 15:04:13

The Nairobi Securities Exchange (NSE) will sell up to 33.9 per cent shares in an initial public offering (IPO).

PSG Konsult to list on Namibian bourse

14/07/2014 14:27:14

Financial services company PSG Konsult to list on the Namibian Stock Exchange (NSX) as of the 16 July 2014.

Flame Tree Group set to list 15% stake on NSE

03/07/2014 16:44:01

Flame Tree Group, a Mauritian manufacturer based in Kenya plans to list on the Nairobi Securities Exchange (NSE).



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