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Business

Latest African business news, latest breaking news from Africa.

Business

Mitsubishi Hitachi to supply turbines for Kenyan geothermal plant

Isaac Kaledzi -
Japan's Mitsubishi Hitachi Power Systems said on Tuesday it and two other firms had won an power generation plant order including two 70 megawatt...
Business

GM plans to sell stake in East African unit to Isuzu

Isaac Kaledzi -
General Motors Co on Tuesday said it plans to sell its majority ownership stake in General Motors East Africa to its Japanese partner Isuzu...
Business

Nigeria’s economy contracted by 1.5 percent in 2016

Isaac Kaledzi -
Nigeria's gross domestic product fell by 1.5 percent in 2016 due to lower oil revenues, the National Bureau of Statistics said on Tuesday, for...
Business

South African official sacked over 350% pay rise

Isaac Kaledzi -
A South African government official who granted himself a 350% pay rise has been sacked. Collins Letsoalo was supposed to be "Mr Fix-it" - brought...
Business

Nigerian court to rule on Shell, ENI dispute with authorities in March

Isaac Kaledzi -
A Nigerian court will rule on March 13 on a request by Royal Dutch Shell and Italy's Eni to lift the temporary seizing of...
Business

SpaceX to fly two tourists around Moon in 2018

Isaac Kaledzi -
US private rocket company SpaceX has announced that two private citizens have paid to be sent around the Moon. The mission is planned for late...
Asia &Australia

Samsung heir to be indicted on bribery charges

Isaac Kaledzi -
Samsung's heir apparent Lee Jae-yong is to be formally indicted on multiple charges including bribery and embezzlement, prosecutors said.
Business

Tunisia to accelerate reforms as IMF freezes loan

Isaac Kaledzi -
Tunisia is likely to sell stakes in three state-owned banks this year and cut up to 10,000 public sector jobs as part of reforms...
Business

Sasol sees first Mozambique oil production in 2-3 years

Isaac Kaledzi -
Petrochemicals group Sasol has found oil in wells off Mozambique and aims to bring the fossil fuel to production for the first time in...
Business

U.S. Dollar Notes Vanish From Zimbabwe

Isaac Kaledzi -
Transactional activity in Zimbabwe in recent weeks indicates a slow disappearance of the United States dollar, which is being replaced by bond notes. The bond...
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