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South Africa’s Denel tells unions it can’t honour court ruling on salaries

JOHANNESBURG (Reuters) - South Africa’s struggling state defence firm Denel told trade unions on Friday that it cannot honour a court ruling that it should pay outstanding salaries by Friday,...

Botswana diamond exports fall by two thirds on COVID-19

GABORONE (Reuters) - Botswana’s rough diamond exports plunged 68% percent in the second quarter of the year, data published by the central bank showed on Friday, as the Coronavirus pandemic...

World Bank approves $114 mln for Nigeria’s COVID-19 response

ABUJA (Reuters) - The World Bank has approved $114 million to help Nigeria tackle its coronavirus pandemic, the global lender said on Friday. The money comes in...

South Africa tries to recover over $23 mln from SAP for ‘unlawful’ contracts

JOHANNESBURG (Reuters) - South African investigators are seeking to recover more than 400 million rand ($23 million) from German software firm SAP for two government contracts they allege were entered...

Record bullion prices give South African gold miners a lifeline, risks remain

JOHANNESBURG (Reuters) - South African gold miners are looking to cut debt and boost dividends as bullion hits record highs, with analysts and fund managers predicting a sectoral growth spurt...

South African central bank cuts bond buys to 2.5 bln rand in July

JOHANNESBURG (Reuters) - The South African central bank further cut its government bond purchases in July, buying 2.5 billion rand ($142 million) worth, or half the amount it bought in...

Afreximbank commits $400 mln to Mozambique LNG project

JOHANNESBURG (Reuters) - Cairo-based African Export-Import Bank has committed $400 million in loans and guarantees to Mozambique’s $20 billion liquefied natural gas (LNG) project, the multilateral lender said on Thursday.

Trump issues bans on China’s TikTok, WeChat, stoking tension with Beijing

The hugely popular Tiktok has come under fire from U.S. lawmakers and the administration over national security concerns surrounding data collection, amid growing distrust between Washington and Beijing.