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Archive In BusinessRead the latest news for Business in Africa
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Finance
Nigeria’s Capital Market Sustains Negative Growth, Loses $2.69bn In One Week.
falling value of the Naira. The aggregate market capitalisation declined $2.69 billion to close at $62 billion on Friday, November 21, 2014.
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International
Tradehold Acquires Major Stake In Reward Investments.
Tradehold, the JSE-listed property holding company, had acquired Timothy Vaughan’s minority interests in Reward Investments and Moorgarth Holdings (MHLS) with effect from 18 July 2014, it said on Monday.
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M & A
Hulamin Acquires Bayside Casthouse From BHP Billiton.
Isizinda Aluminium (Isizinda), a partner of aluminium producer, Hulamin, on Monday said it had acquired the Bayside casthouse in Richards Bay, KwaZulu Natal, South Africa, from resources giant, BHP Billiton, for an undisclosed amount.
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Energy
FMC Technologies Commissions First Nigerian Built Subsea Production Line.
FMC Technologies, an NYSE-listed leading global provider of technology solutions for the energy industry, has commissioned its first subsea production tree built entirely in Nigeria.
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Telecommunication
American Tower Corp To Pay $1.5bn For Airtel Nigeria’s Phone Masts.
Publicly held American Tower Corporation has struck a deal to buy more than 4,800 communications towers in Nigeria from Indian Bharti Airtel Ltd, the companies said on Monday.
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Telecommunication
Vietnamese Firm Pulls Out Of Telkom Kenya Bid.
Orange Telecom (formerly France Telecom) has long made known its desire to exit Kenya’s telecommunication market.
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Intelligent Investing
Ivory Coast To Finance Investments With $302m Treasure Bonds .
Ivory Coast has announced this week that it will be launching a 160 billion CFA franc ($302.7 million) treasury bond in seven and 10-year tranches from Nov. 17 to Dec. 16.
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Telecommunication
AccessKenya To Link More Kenyans With $3.3m Fibre Expansion.
Internet Service Provider, AccessKenya Group, says it plans to invest Sh300 million ($3.3 million) into expanding its fibre coverage of Mombasa, Thika and Nairobi over the next year.
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AgriBusiness
Agric-focused Insurance Company Launches Kenya Operation.
Acre Africa, a micro-insurance firm operating in East Africa, has begun operation in Kenya to provide insurance cover to smallholder farmers against damage and climate-associated risk.
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Energy
Eni, Vitol Clinch $6bn Gas Project Deal In Ghana.
Italian oil major, Eni and Switzerland’s Vitol have signed an agreement with the National Oil Company of Ghana for the development of gas resources in the Offshore Cape Three Points (OCTP) block at the cost...