(Reuters) – Tullow Oil said on Tuesday its Ghana unit filed for arbitration in London over two tax bills amounting to $387 million which the West Africa-focused oil producer received from local authorities, in addition to an existing separate tax dispute. The two tax charges which Tullow disputes in the new arbitration – a process …
Tullow Oil’s Ghana unit files for arbitration on tax dispute Read More »
(Reuters) – Precious stones miner Gemfields Group on Tuesday said it has halted operations and was evacuating personnel from its Nairoto exploration camp in Mozambique’s insurgent-hit Cabo Delgado province after an attack on a nearby village. The northern Mozambican province has seen an Islamic State-linked insurgency that has claimed thousands of lives since it broke …
Gemfields evacuates Mozambique exploration camp after attack Read More »
(Reuters) – South Africa’s state-owned freight rail utility Transnet has resumed limited services on a key line linking it to trading partners across southern Africa after it was damaged by heavy rains last week, impacting mineral exports, it said on Monday. The North East Corridor, which mostly moves chrome, ferrochrome, phosphate and magnetite, links South …
South Africa’s Transnet resumes limited services on flood-hit rail link Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Monday against a weaker U.S. dollar, after hitting a three-month low earlier in the day amid concerns about persistent power cuts. At 1803 GMT, the rand traded at 17.8400 to the dollar, about 0.3% stronger than its previous close. Earlier in the day, it broke above 18 …
South African rand strengthens against weaker dollar Read More »
By Ange Aboa ABIDJAN (Reuters) – Ivory Coast cocoa exporters are close to defaulting on their contracts due to a lack of beans and urgently need up to 150,000 tonnes to honour their commitments, seven sources who attended a crisis meeting with the regulator on Friday told Reuters. As the world’s top producer heads towards …
Ivory Coast domestic cocoa exporters on verge of default due bean shortage Read More »
JOHANNESBURG (Reuters) – Attacq on Monday said the Government Employees Pension Fund (GEPF) is planning to buy a 30% stake in its Waterfall investment firm for 2.8 billion rand ($156 million), sending shares in the South African commercial property group up 14%. Attacq’s shares were up 14.85% to 8.20 rand by 1345 GMT, on track …
South Africa’s Attacq shares soar on deal to fund Waterfall city Read More »
(Reuters) – Anglo American Platinum (Amplats) expects its 2022 annual profit to be down as much as 52%, hit by a decline in sales of platinum group metals (PGM) after a delayed smelter rebuild, it said on Monday. The company, which is due to report annual results on Feb. 20, said that headline earnings per …
Amplats warns of sharp profit fall after delayed smelter rebuild Read More »
NAIROBI (Reuters) – Kenya’s President William Ruto has nominated Susan Koech, a career banker who has also served in top government posts, to be the second deputy governor of the central bank, a parliamentary document showed. The post has been vacant for more than five years after Ruto’s predecessor failed to fill it when its …
Kenya’s president picks banker for deputy cenbank governor – senate document Read More »
DUBAI (Reuters) – The head of the International Monetary Fund said on Sunday that public debt in some Middle East and North Africa (MENA) countries is of concern and that governments need to build resilience through fiscal policies to protect against shocks. Kristalina Georgieva, addressing an Arab Fiscal Forum in Dubai, said the earthquake that …
M.East/N.Africa region needs to bolster fiscal resilience -IMF Read More »
JOHANNESBURG (Reuters) -South Africa’s rand weakened on Friday after President Cyril Ramaphosa’s declaration of a “state of disaster” to tackle crippling power shortages in the country failed to elicit investor confidence. Analysts said the president’s response to the crisis did not impress them, with no clear end in sight to the hours of daily power …
South African rand slips as president’s speech fails to buoy markets Read More »
