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Saturday, 30th May 2020
9:10:29pm

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Articles related to business

South Africa will soon announce CEO for crisis-hit utility Eskom - Ramaphosa

South African President Cyril Ramaphosa said on Monday that the government will soon announce a permanent CEO for state-run Eskom, after the struggling power utility reintroduced rolling blackouts last week.

The crisis-hit utility, which produces more than 90% of South Africa’s electricity, has been hobbled by technical and financial woes, and…

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Ethiopian Airlines flight makes emergency landing in Dakar, no casualties

An Ethiopian Airlines plane was forced to make an emergency landing minutes after taking off in Senegal on Tuesday because an engine had caught fire, an airport spokesman said.

None of the 90 passengers or crew were injured, spokesman Tidiane Tamba told Reuters.

The airline confirmed on Twitter that its Boeing 767 aircraft had to land unexpectedly…

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World Bank court orders Tanzania pay $185 mln to Standard Chartered

Tanzania has been ordered by a World Bank arbitration court to pay $185 million to the Hong Kong subsidiary of Standard Chartered for breaching an energy contract.

The court’s ruling, which was released on Tuesday, adds to pressure on the East African nation, which faces at least two other multi-million claims from international investors.

The case…

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Rwanda launches first 'Made in Africa' smartphones

Rwanda’s Mara Group launched two smartphones on Monday, describing them as the first “Made in Africa” models and giving a boost to the country’s ambitions to become a regional technology hub.

The Mara X and Mara Z will use Google’s Android operating system and cost 175,750 Rwandan francs ($190) and 120,250 Rwandan francs ($130) respectively.

They…

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South African Airways in talks with potential partners

South Africa’s embattled state-owned airline is open to outside investment and in talks with a number of potential partners, President Cyril Ramaphosa said on Monday.

The economy of the African continent’s most industrialised nation has come under ever growing pressure as the government grapples with lacklustre growth, high unemployment and a heavy…

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Mozambique says US gas giant Exxon to finalise LNG investment next week

U.S. energy giant Exxon Mobil will finalise its investment in Mozambique’s lucrative liquefied natural gas fields in a signing ceremony on Tuesday, the African country’s government said via state television.

Exxon’s Rovuma LNG project, jointly operated with Italian firm Eni, will produce, liquefy and sell natural gas from three reservoirs located…

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