Reuters Africa Business Archives - Page 916 of 921

South Africa takes Huawei’s local unit to court over hiring

11 Feb 2022 11 Feb 2022

By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa has asked a court to fine the local unit of China’s Huawei Technologies for breaking rules on hiring locals and to order the company to amend its practices, the labour department said on Friday. Approximately 90% of the company’s employees were foreign nationals, violating “employment equity” regulations which …

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South Africa takes Huawei’s local unit to court over hiring

11 Feb 2022 11 Feb 2022

South Africa takes Huawei’s local unit to court over hiring Read More »

Exclusive: New Rio Tinto chairman to weigh CEO’s future amid toxic culture crisis – sources

11 Feb 2022 11 Feb 2022

By Clara Denina and Helen Reid LONDON/JOHANNESBURG (Reuters) – The incoming chairman of Rio Tinto will review the position of CEO Jakob Stausholm to determine whether he is suitable to lead an overhaul of the company’s toxic work culture, two people familiar with the matter said. Dominic Barton, a former diplomat who takes up the …

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Nigeria’s Oando says it did not import substandard gasoline

11 Feb 2022 11 Feb 2022

ABUJA (Reuters) – Nigeria’s Oando did not import poor quality petrol into the country, it said on Friday, in response to allegations by the state oil firm that it, along with three other firms, had supplied unusable methanol-blended fuel. The West African country faces fuel shortages after gasoline was delivered with too high a content …

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Nigeria cenbank aims to boost non-oil exports, stop FX sale to lenders

10 Feb 2022 10 Feb 2022

By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s central bank is hoping the country can reach earnings of $200 billion a year in foreign exchange from non-oil exports over the next three to five years, its governor said on Thursday, with plans to stop dollar sales to lenders this year. Nigeria, Africa’s biggest economy, has been …

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South African rand gains before president’s annual address

10 Feb 2022 10 Feb 2022

JOHANNESBURG (Reuters) -The South African rand posted strong gains on Thursday before President Cyril Ramaphosa’s annual State of the Nation Address where he typically announces reforms in key policy areas. At 1545 GMT, the rand traded at 15.0175 against the dollar, up 1.3% from its Wednesday close. Ramaphosa’s address to parliament is due to start …

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Nigeria did not check methanol levels in imported gasoline, NNPC says

10 Feb 2022 10 Feb 2022

By MacDonald Dzirutwe LAGOS (Reuters) -Nigeria did not detect a higher-than-usual content of methanol in recent gasoline imports because it did not conduct tests for the additive, the Nigerian National Petroleum Corporation (NNPC) said on Thursday. NNPC Chief Executive Officer Mele Kyari said the presence of high methanol quantities was detected in four cargoes in …

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Nigeria central bank targets $200 billion from non-oil exports over 3-5 years

10 Feb 2022 10 Feb 2022

ABUJA (Reuters) – Nigeria’s central bank is targeting $200 billion of inflow from non-oil exports over the next three to five years, Governor Godwin Emefiele said on Thursday, unveiling policies to boost dollar supplies into its fragile economy. “The export of primary products does not yield much in foreign exchange,” he told reporters following a …

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South Africa’s 2021 maize output up compared with previous year

10 Feb 2022 10 Feb 2022

JOHANNESBURG (Reuters) – South Africa produced 16.315 million tonnes of maize in its 2020/2021 season, compared with 15.300 million tonnes harvested in the previous season, the government’s Crop Estimates Committee (CEC) said on Thursday. The crop consists of 8.600 million tonnes of white maize, used for human consumption, and 7.715 million tonnes of yellow maize, …

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Kenya’s central bank tests public opinion about digital currencies

10 Feb 2022 10 Feb 2022

NAIROBI (Reuters) – Kenya’s central bank has invited the public for views on the potential introduction of a digital currency, in a shift from its original opposition to crypto assets. The East African country pioneered mobile money payments with Safaricom’s M-Pesa in 2007, but its central bank has not issued a digital currency due to …

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