Business

Shoprite Holdings is in talks to open its first stores in Kenya by filling retail space left empty by the struggling Nakumatt Holdings chain.

Nigeria’s Justice Minister Abubakar Malami, has said that the country recently recovered $85 million of stolen assets from the UK. He claimed the money is linked to the Malabu scandal, a major case of alleged bribery involving oil giants Shell and ENI. The Malabu scandal is one of the biggest corruption cases to hit Nigeria’s oil industry. Investigators in Nigeria and in Italy claim that $1.1bn – which was paid to the government by international oil companies in 2006 – never made it into the national coffers.

The Board of Directors of the African Development Bank (AfDB) has approved a line of credit (LOC) of US$ 3 million (synthetic local currency equivalent) to Union Trust Bank Sierra Leone.

Giant soft-drink producer, Coca-Cola on Tuesday said it would be investing $90 million in Kenya to expand its products for a three year period.

Leaders of the West African sub-region have decided to speed up efforts at institutionalizing a common currency for bloc after meeting in Niamey, Niger.

The government of Ghana is beginning the auction of its 2.5 billion dollar energy bond on Tuesday.

Another big company in South Africa has broken ties with the global auditing firm KPMG following the company's recent involvement with the controversial Guptas accused of securing contracts from the government through undue influence from President Jacob Zuma.

African Development Bank is to roll out an ambitious programme to cultivate the Savannah in Ghana and other seven African countries. The initiative dubbed Transformation of the African Savannah will begin next month.

Prominent African and international business executives and investors to explore business opportunities at the Africa Trade and Investment Global Summit (ATIGS), a prestigious biennial conference and exhibition to be held on June 24-26, 2018 in Washington, DC, USA. Organized by GAA Exhibitions & Conferences, the 2018 ATIGS edition will gather 2000-plus key economic players from more than 70 countries including government delegations, high-profile African leaders, project developers and international investors on June 24, 25 and 26, 2018 in Washington, DC.

Three World Food Prize laureates are demanding immediate action to address the invasion of armyworms which has caused destruction to crops on the African continent.