Archive In BusinessRead the latest news for Business in Africa

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  Retail & Manufacturing

  Delphi Automotive Opens Third Factory in Morocco. Auto parts maker, Delphi Automotive Plc, has opened its third production unit in Kenitra, Morocco. The facility will provide jobs for another 1,700 people, bring the company’s total workforce to about 9000 people.
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  Economic Development & Policies

  Enhancing Diversification: NEXIM Bank Tenders $1.3bn Loan To Nigerian Exporters. With the cry for diversification of the Nigerian economy growing ever louder, the Nigerian Export Import Bank (NEXIM) has announced that it will offer a N300 billion ($1.3 billion) funding to support Nigerian exporters.
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  Finance

  African Banks Get A Wake Up Call. innovative services like mobile money and epayment solutions continue to see increasing patronage from Africans. Speculators and experts alike believe this innovative trend will gradually replace tradition banking.
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  Energy

  Gas Firm Afrox To Review Geographic Footprint. JSE-listed welding and gas firm, African Oxygen (Afrox), on Friday said it wants to reduce its fixed cost base over the short and medium term.
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  Energy

  Nigeria’s Finance Minister Says Oil Savings Drained By State Governors. Nigeria’s finance minister, Dr Ngozi Okonjo-Iweala, said on Thursday that while some of the money in the country’s excess crude savings was legitimately used to offset revenue shortfalls arising from quantity shocks and to narrow the...
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  Energy

  Offers To Launch Renewable Energy Stations In Egypt Mount. About 175 foreign and Egyptian firms have presented offers to launch renewable energy-based power stations, according to the MENA News Agency.
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  Economic development

  Forget Oil Price Decline; The Naira Has Always Been Hurt By Elections. Falling oil prices may be a major cause of the current decline in the value of the naira, but it is not the only one.
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  General

  Will Nigeria Witness Another Borrowing Spree In 2015? Nigeria’s total debt portfolio has risen 30 percent to $62 billion in 2014, up from $47.6 billion as at September last year.
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  Retail & Manufacturing

  House Of Tara Enters Kenya’s Cosmetics Market. Leading Nigerian beauty brand, House of Tara, has expanded its cosmetics line to Kenya.
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  Energy

  Naira’s Fall Resumes After OPEC Decision Not To Cut Output. Following OPEC’s refusal to cut oil output, a measure that would have helped stem falling global oil prices, Nigeria’s naira resumed its fall against the dollar, a day after it showed glimpses of stabilizing.