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Thursday, 20th June 2019
3:00:14am

Business

Articles related to business

Kenya's NSE halts equities trading due to technical hitch

Kenya’s Nairobi Securities Exchange said on Tuesday it had stopped trading of shares just before noon due to an unspecified technical hitch, adding it expected the issue to be resolved in time for Wednesday’s session.

The bourse is an important gateway for foreign investors looking for exposure to fast-growing economies in the East African region.…

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South Africa's Eskom wants state to take on $7.2 bln of its debt

South Africa’s struggling state-run power firm Eskom wants the government to take on 100 billion rand ($7.2 billion) of its debt to shore up its balance sheet, Eskom Chairman Jabu Mabuza told the Business Day newspaper.

Cash-strapped Eskom, which supplies more than 90 percent of South Africa’s electricity, is struggling to emerge from a financial…

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KPMG South Africa appeals for second chance after corruption scandals

The chairman of KPMG South Africa on Monday appealed for the firm to be seen as a changed business, following months of efforts to regain public trust after becoming embroiled in major corruption scandals.

In an open letter published in South African newspapers, KPMG South Africa’s executive chairman Wiseman Nkuhlu said the local unit of the audit…

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South Africa's MTN shares rise 4 percent on news of Nigeria dispute settlement

Shares in MTN Group surged 4 percent on Friday with traders attributing the rise to news that Nigeria’s central bank was on the verge of reaching an agreement over a $8.1 billon dispute with the South African telecoms group.

The stock rose as much as 4.1 percent before trimming gains to trade 2.14 percent higher at 87.6 rand as of 0900 GMT.

“Looks…

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Shell reviews deals involving ex-executive accused of bribery

Royal Dutch Shell has concluded that a Nigerian oilfield sale where it suspects an executive took bribes was not linked to a separate court case in which he and Shell face corruption charges over a $1.1 billion offshore acquisition.

The Anglo-Dutch company filed a criminal complaint in March against Peter Robinson, a former vice president for…

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Stanbic sees June 2019 close for $2.5 bln debt deal for Uganda's oil pipeline

Stanbic Bank Uganda, lead arranger for the East African nation’s $2.5 billion debt for a crude oil pipeline, expects the deal to conclude in June next year, its chief executive said on Wednesday.

Uganda and Tanzania signed an agreement in May last year to jointly develop a pipeline that has been described as the longest electrically heated crude…

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