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Friday, 15th February 2019
10:46:10pm

Business

Articles related to business

Over 50% of companies in Africa victims of financial crime - report

Africa has a higher percentage of companies affected by fraud, theft, money laundering or other financial crimes than the global average, according to one of the most comprehensive surveys of international business to date, a Thomson Reuters survey showed.

More than 2 300 senior business leaders in large companies were asked to shine a light on how…

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Gunmen kill director of Dangote Cement plant in Ethiopia

Unidentified gunmen killed the manager of a plant owned by Nigeria’s Dangote Industries Limited in Ethiopia on Wednesday after he was attacked in the restive Oromiya region while returning to the capital from the factory, officials said.

Oromiya, which surrounds the capital Addis Ababa, was plagued by violence for over two years, largely fueled by…

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Zim government shelves plans to licence cannabis growers: report

The Zimbabwe government has put on hold plans to issue licences to farmers to grow marijuana for medical and research purposes, citing the need to first carry out feasibility studies.

Deputy Finance Minister Terence Mukupe says the state Medicines Control Authority of Zimbabwe (MCAZ) had received more than 350 applications from local and foreign…

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Tanzania's central bank approves merger of two state-owned banks

Tanzania’s central bank said on Wednesday it has approved the merger of two small state banks, Twiga Bancorp and TPB Bank PLC, as part of a plan to improve financial stability and reduce the number of state-run lenders.

The decision is part of a drive to counteract a spike in bad loans since 2015 that has hit bank profits and stifled private sector…

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Anadarko seeks to raise $14-$15 bln for Mozambique LNG project

Anadarko Petroleum is seeking to raise a record $14-$15 billion from banks and export credit agencies for its huge liquefied natural gas (LNG) project in Mozambique, sources close to the matter said.

Fast-growing gas demand from China and Southeast Asia is reassuring export project developers sitting on huge untapped gas discoveries in Mozambique…

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Uganda power distributor Umeme to spend $1.2 bln to expand grid

Ugandan power distributor Umeme Ltd plans to spend $1.2 billion in the next seven years to revamp and expand the grid and has hired an adviser to explore options for raising the money, the company’s chief executive said on Wednesday.

The investments will be used to prepare for an expected rise in power expected to come online by 2020, CEO Selestino…

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