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Archive In BusinessRead the latest news for Business in Africa
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Finance
British American Tobacco Grows Revenue By 2.4%.
JSE-listed consumer goods group, British American Tobacco (BAT), grew revenues 2.4 percent in the nine months to September this year at constant rates of exchange due to slightly better price mix, Nicandro Durante, BAT CEO,...
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M & A
Taste Holdings Acquires Arthur Kaplan Jewellery For $7.7m.
Taste Holdings, the JSE-listed management group with subsidiaries in the food and jewellery sectors, has acquired South Africa’s well-known jewellery firm, Arthur Kaplan Jewellery (AKJ), for R85 million ($7.7m) in cash.
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Finance
Ethiopia’s Mining Industry Worth $5bn.
Evolving reports on Ethiopia’s economic opportunities suggest that the country could be sitting on a $5 billion mining sector, the full value of which can be realized by tapping into geothermal sources.
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International
CEOs, Investors Explore Innovative Investing in Emerging African Markets.
Starting from yesterday, the Initiative for Global Development (IGD) has brought leading African and international CEOs, senior executives and investors together in New York City to discuss ways to further invest in Africa.
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Energy
GE Bags ‘Green’ Award For Power Africa Initiative.
General Electric Africa has been awarded Green Investment Initiative of the Year for the Power Africa initiative at this year’s Africa Investor (Ai) Investment and Business Leader Awards.
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Mining & Construction
SA Mineworkers’ Union Sign Wage Contract With De Beers.
The ANC-aligned trade union, the National Union of Mineworkers (NUM), this week signed a three-year wage contract with the world’s biggest producer and distributor of diamonds, De Beers Company.
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International
African Landlocked Countries Look To FDI To Unlock Growth.
Ministers of Landlocked Developing Countries (LLDCs), 16 of which are African, have called for stronger efforts to develop productive capacity and drive diversification through foreign direct investment (FDI), to set their countries on a growth path.
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Energy
Kenya Launches World’s Largest Geothermal Plant.
Kenyan President Uhuru Kenyatta has launched the Olkaria IV power plant, the world’s largest geothermal power plant, in a bid to add 140 Megawatts (MW) to the national grid and bring down electricity costs down...
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Finance
MTN Upgrades Zambian Mobile Banking To Accommodate Growing Market.
Multinational mobile telecommunications company MTN Group has started upgrading its MTN Mobile Money services in Zambia to accommodate the new customers flooding into the country’s growing mobile banking market.
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Retail & Manufacturing
EABL Sells 20% Stake In Engineering Firm.
East African Breweries Limited (EABL) has earned Sh50 million ($562,000) from the sale of its 20 percent stake in engineering firm, Sen Tech as it seeks to boost margins.