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Wednesday, 8th April 2020
11:11:26am

Business

Articles related to business

Fraud cost Africa $10.9bn in 2011

Bribery, theft and other kinds of fraud cost African governments and companies at least $10.9bn last year, auditing firm KPMG estimated in a study on Wednesday, a sobering reminder of the challenges facing the fast-growing continent.
KPMG said it arrived at the figure after scouring English-language news reports and databases of fraud cases from…

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Shell to buy Cove Energy for $1.8 bln

Royal Dutch Shell has agreed to buy Mozambique-focused explorer Cove Energy for  1.12 billion pounds in cash, raising its earlier offer to secure access to a new
gas frontier in East Africa.
The oil major said on Tuesday it had increased its initial $1.6 billion approach to match a rival bid made by Thai state-controlled oil and gas group PTT…

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Asian representation at ZITF up

A record number of foreign firms are exhibiting at this year’s 53rd edition of the Zimbabwe International Trade Fair (ZITF) which begun in Bulawayo yesterday.
“Everything seemed to be very organised. A lot of people are coming here and we hope that it’s going to be fruitful,” said the Italian Assistant Cultural Attaché, Robyn Koen.
Italy, which…

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Angola LNG to start exports June, eyes Europe, Asia

Angola LNG is to start regular exports of liquefied natural gas in late June after shipping tests next month and will target non-U.S. buyers in Europe and Asia where prices are higher, oil minister Jose Botelho de Vasconcelos said on Tuesday.
The 5.2 million tonnes per annum (mtpa) Angola LNG project is led by Angola's state-owned oil company,…

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Zim's Econet posts $166 million profit

Econet Wireless Zimbabwe (Econet) — Zimbabwe’s largest mobile operator — reported a $165,7 million profit after tax in the year ended February 2012, up 18 percent from $141 million last year.
The group’s revenue went up by 24 percent to $611 million during the period under review.
Earnings before interest, depreciation, taxes and amortisation…

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Total to cut oil flows at giant Angolan field

French oil major Total will cut oil supplies at a giant deep oil platform off the coast of Angola for planned works in June, trade sources said on Tuesday.
Girassol, which means sunflower in Portuguese, is one of OPEC member Angola's largest fields and can pump up to 250,000 barrels per day (bpd).
West African crude oil traders said that…

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