News - CNBC Africa

News

Southern Africa

S.Africa's Zuma says in "perfect" health after post-election fatigue

22/12/2014 08:16:38

South African President Jacob Zuma said he was in "perfect" condition after recovering from a bout of fatigue.

PPC appoints Darryll Castle as CEO

17/12/2014 14:44:44

Pretoria Portland Cement (PPC) has appointed Darryll Castle as its executive director and chief executive officer.

Happy New Year, as S.Africa's fuel price falls

17/12/2014 13:56:22

The Automobile Association (AA) reports that the fall in international oil prices will bring down national oil prices in the New Year.

Zambia cabinet ministers ask President Scott to resign

17/12/2014 13:22:49

Zambia's cabinet passed a vote of no confidence in interim president Guy Scott on Wednesday.

Western Africa

Nigerian central bank intervenes to prop up sliding naira

19/12/2014 08:19:10

Nigeria’s central bank intervened Thursday to prop up the failing naira.

BOAD emphasises focus on public-private partnerships

18/12/2014 15:40:17

The board of directors of the West African Development Bank (BOAD) placed a special focus on the promotion of public-private partnerships.

Suspected Boko Haram gunmen kidnap over 100 women, children in Nigeria

18/12/2014 13:32:54

Suspected Boko Haram gunmen kidnapped more than 100 women and children and killed 35 people during a Sunday raid.

Ebola threatens food security of 1 million

18/12/2014 11:18:53

The number of people facing food insecurity in Guinea, Liberia and Sierra Leone could top one million by March 2015.

East Africa

Tanzania’s GDP expands by 32% after rebasing - officials

19/12/2014 09:50:50

Tanzania said its GDP has expanded by 32 per cent after it rebased its calculation to incorporate new sectors in the economy.

Kenya security law approved despite disruptions in parliament

19/12/2014 09:44:52

Kenya's parliament approved new anti-terrorism laws on Thursday.

IMF hails Burundi’s ECF as broadly satisfactory

18/12/2014 11:31:02

The International Monetary Fund has hailed Burundi’s performance under the ECF-supported programme as broadly satisfactory.

Kenya, Tanzania & Zambia sign power MOU

17/12/2014 12:12:12

Kenya, Tanzania and Zambia have signed a power interconnector memorandum of understanding (MOU) project.

Financial

National Bank of Canada acquires 9.5% in AfrAsia

17/12/2014 05:06:13

AfrAsia Bank Limited has added a strategic partner, National Bank of Canada, to its shareholding structure.

S&P explains the reasons behind S.Africa's unchanged ratings

15/12/2014 08:55:36

Despite all the problems with South Africa both Fitch and S&P left the country’s rating unchanged.

S.Africa medical aid users not knowledgeable enough

15/12/2014 07:52:16

In South Africa medical aid is considered a luxury purchase and people expect their medical aid to pay every single penny of their costs.

IMF lowers Burkina growth forecast, hit by revolution, Ebola, mining slump

12/12/2014 09:58:00

The International Monetary Fund has lowered its forecasts for Burkina Faso's economic growth in 2014 and 2015 to 5 per cent.

Industrials

S.Africa strengthens ties with China

05/12/2014 14:18:14

South Africa’s Transnet and Chinese manufacturer CSR Zhuzhou Electric Locomotive (CSR) signed a Memorandum of Understanding (MoU).

Ford cancels SKF components contract, hits S.African jobs

02/12/2014 16:22:18

About 250 South African jobs at forging company could be cut after Ford Company cancelled a components contract with SKF.

GE, no. 1 in leadership development

20/11/2014 14:47:55

General Electric (GE) has been named the best company for leadership development in the world.

Railroad remains the backbone of Africa’s economy

14/11/2014 09:10:37

Despite the shift to road use, railroad remains the most viable catalyst to economic growth on the continent.

Mining

Amplats gets $385 mln offer for Bokoni mine stake - sources

17/12/2014 13:37:54

Anglo American Platinum, the world's top platinum miner, has received a 4.5 billion rand offer for its 49 per cent stake in the Bokoni mine.

Coal of Africa extends date on Mooiplaats disposal

17/12/2014 13:22:24

Coal of Africa (CoAL) has extended the date for Blackspear to meet the conditions precedent regarding the purchase of Mooiplaats.

Village’s Cons Murch applies for business rescue

15/12/2014 09:50:03

Village Main Reef announced that its antimony and gold mine operator Cons Murch, has applied for business rescue.

Gold sees biggest weekly rise in 2 months as stocks, dollar slip

14/12/2014 16:01:45

Gold edged lower on Friday as some buyers cashed in recent gains.

Resources

Brent steady below $60, heads for 4th weekly decline as glut persists

19/12/2014 09:52:04

Brent crude held below 60 dollars a barrel, near a five and a half year low, on Friday.

Is Eskom’s load shedding becoming a crisis?

09/12/2014 06:44:09

South Africa has been spoiled for too long with cheap electricity, this is according to Wayne Samson, chief executive of Ellies.

Several years needed for stabilisation of S.Africa’s power supply

05/12/2014 14:33:45

South Africa should be out of the woods, in terms of the stability of its power supply, in two to three years’ time.

More than $150 bln of oil projects face the axe in 2015

05/12/2014 07:09:06

Global oil and gas exploration projects worth more than 150 billion dollars are likely to be put on hold next year.

Technology

Mobile phones aid healthcare innovations in Africa

12/12/2014 07:29:59

The US Agency for International Development (USAID) and Orange have partnered to develop innovations in mobile health (mHealth).

MFS launches mobile insurance for cyclists

07/12/2014 05:47:17

MFS Africa has launched Zem Assur – a mobile insurance product for drivers of motorcycle taxis, known as zémidjans.

Bayer to exploit human, animal & plant synergies

03/12/2014 12:47:45

The Bayer Group is set to increase investments in research and development around the synergies between humans, animals and plants.

Telecoms ministry to modernise S.Africa’s Post Offices

28/11/2014 13:42:01

The Ministry of Telecommunications and Postal Services has embarked on a process to modernise South Africa’s Post Offices.

IPO

Cartrack raises R510 million through share placement

12/12/2014 11:05:06

Cartrack has successfully raised an aggregate amount of 510 million rand through the placement of 60 million ordinary shares.

Acsion to offer investors exposure to 100% of development company

09/12/2014 11:48:58

Specialist property developer, Acsion has said that it offers investors exposure to 100 per cent of its development company.

Pivotal to pursue growth opportunities following JSE listing

08/12/2014 10:33:06

Pivotal Property Fund has said that it will continue to pursue both development and acquisition growth opportunities.

Sirius completes fast track process, lists on AltX of JSE

05/12/2014 09:36:45

Sirius Real Estate has completed its fast track, secondary listing on the Alternative Exchange (AltX) of the Johannesburg Stock Exchange.



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