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Approval of Barclays' Proposed Reorganisation of Its Interest in Absa Group Limited and Barclays Africa Business
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| The Minister of Finance Pravin Gordhan has approved the proposed reorganisation of the African operations of Barclays plc and the ABSA Group Ltd. The application was considered by the Minister in terms of section 37 and 52 of the Banks Act, 1990, andRead More... |
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Kenya's Nakumatt Seeks $50 Million for New Africa Store Openings
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| Nakumatt Holdings Ltd., the biggest retail chain in East Africa by outlets, is seeking to raise as much as $50 million to open new stores over the next four years, Managing Director Atul Shah said.
Nakumatt, which has 40 outlets across Kenya, UgandaRead More... |
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Maruti may follow Tatas, Mahindras with S Africa plant
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| Indian auto makers seem to be heading to Africa en masse with South Africa seen as a gateway to unlocking the continent’s market potential. After Tata Motors, Mahindra & Mahindra (M&M) and Hero MotoCorp, Maruti Suzuki is now consideringRead More... |
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Africa stock exchanges remain attractive investment option - ASEA
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| Players in Africa’s capital market are optimistic Africa stocks exchanges would remain an attractive investment option and destination for both local and foreign investors.
Mr Sunil Benimadhu, President of the African Securities Exchanges AssoRead More... |
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UN report sees 6pc Economic Growth for E Africa
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| Economic growth in East Africa, including Kenya, is expected to remain among the fastest in Africa this year aided by natural resource discoveries, improved agricultural performance, and economic diversification, a new report showed.
The UniRead More... |
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Nokia partners Airtel for Life services in Africa
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| Nokia and Bharti Airtel today announced a broad partnership agreement across Africa to drive closer collaboration and deliver increased consumer value. The agreement, which incorporates areas such as the provision of Nokia Life services, Xpress BrowsRead More... |
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Africa welcomes China's money and new image
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| THE Economist magazine noted on the eve of Xi Jinping's first overseas trip as president, when he visited three African countries: "China's image in Africa, once marred by suspicion, is changing... [A] growing number of Africans say the Chinese Read More... |
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OVL-OIL offers $5 bn for 20% in Africa gas field
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| After buying ConocoPhillips’ 8.4 per cent stake in a Kazakhstan oil field for $5 billion last year, ONGC Videsh Ltd (OVL) and its partner Oil India Ltd (OIL) have closed in on another energy asset in Africa. The consortium has offered up to $5 Read More... |
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Brics summit brings instant benefits for Durban business
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| The influx of five heads of state, about 2 000 conference delegates, a huge international media contingent and international and South African business people for the fifth Brics summit in Durban boosted the city’s economy and future prospects.Read More... |
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Country Second Best in Doing Business in EAC
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| Uganda has emerged second best in the East African Community (EAC) as an investment destination in a World Bank survey, beating Kenya, Tanzania, and Burundi with significant improvements in access to credit.
The country is ranked 120th on thRead More... |
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BRICS Bank to focus on funding infrastructure development
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| The proposed Bank announced by the BRICS leaders at their summit here will focus on infrastructure development due to insufficient long-term financing and foreign direct investment, especially investment in capital stock.
These are allRead More... |
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Xi charts fresh era for Africa relations
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| As soon as President Xi Jinping selected Africa as one of his destinations on his first foreign trip as leader, a hectic schedule was drawn up by his hosts.
In addition to meetings and talks with African leaders on Wednesday, Xi began Read More... |
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KenGen's Sh3trl budget puzzle in Vision 2030 bid
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| The Kenya Electricity Generating Company will have to spend at least Sh170 billion annually over the next 17 years to meet the country’s projected power demand and to help in the attainment of Vision 2030.
According to KenGen’s oRead More... |
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Sh 7.4 BIllion Eldoret-Malaba road construction on course
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| The construction of the Sh7.4 billion Eldoret-Webuye-Malaba highway which links Kenya to Uganda is making progress. More than 70 kilometres have been tarmacked.
The European Union and the government are funding the project. The road, a key lRead More... |
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Tanzania Encouraged On the Use of Renewable Power Energy
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| TANZANIA has a great opportunity to become more independent from expensive and intermittent energy imports if it encourages the use of renewable energy sources, a new study presented in Johannesburg revealed.
The comprehensive study conducteRead More... |
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