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Tuesday, 23rd April 2019
5:51:41am

Business

Articles related to business

Volkswagen opens Rwanda's first car plant

Volkswagen will launch a car assembly facility in Rwanda on Wednesday, the first such factory in the East African nation as Europe’s biggest carmaker expands its presence in the region.

Car ownership remains low in the nation of 12 million people with just over 200,000 private cars registered since 1997, according to the country’s tax collection…

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Clashes at Libya oil ports cut output by nearly half

Clashes between rival groups in Libya's key oil export ports have caused output to drop by nearly half, the head of the National Oil Company said on Wednesday.

"Production has seen a reduction by 450 000 barrels per day, plus 70 million cubic feet of natural gas, equivalent to $33m in sales based on market prices," Mustafa Sanallah told AFP via…

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Old Mutual wraps up four-way break-up with Johannesburg listing

Old Mutual Plc will list its African financial services unit in Johannesburg on Tuesday, returning to its roots as a South African-based financial services group and largely wrapping up a radical break-up of the group. 

The 173-year old company has been disentangling its conglomerate structure following a series of acquisitions since 1999 when it…

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S.Africa's Eskom offers wage increase in line with inflation - source

South African power utility Eskom, which implemented power outages last week because of wage protests, offered staff a salary increase in line with consumer inflation in talks with labour unions on Tuesday, a union source told Reuters. 

Eskom spokesman Khulu Phasiwe said: “We cannot go into details for now. What we’ve done is make an offer to the…

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Restructuring Eskom top of South Africa agenda: finmin Nene

Restructuring state-run power firm Eskom is “on top of the agenda” for South Africa, the country’s finance minister Nhlanhla Nene said on Friday, though he said recent outages likely had very little impact on the economy. 

“It should be very minimal this time round, because...it also was related to the impasse in the industrial space,” Nene…

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Nigeria moves to boost cocoa sector

Cocoa House in Ibadan, southwest Nigeria, was built with the earnings from exports of cocoa beans and at 26 storeys was once the country's tallest building.

Profits from sales of the commodity - prized around the world as the basic ingredient for chocolate - used to be ploughed into providing free education and health services, rural development…

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