Economy

SA formal sector shed jobs in Q1

Statistics South Africa has reported that the South African economy has shed 48 000 jobs in the formal sector in the first quarter of the year.

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AngloGold retrenches 8 500 workers at struggling mines

Africa's biggest gold miner AngloGold Ashanti is retrenching 8 500 mine workers as part of its restructuring its South African business "to ensure their viability", sending its shares lower.

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Malawi’s First Merchant to buy Opportunity Bank

Malawi's First Merchant Bank will buy the local assets of micro lender, Opportunity International Bank of Malawi (OIBM), subject to regulatory approvals, the two banks said on Wednesday.

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SA denies withdrawing FX rigging charges against banks

South Africa's competition watchdog denied on Wednesday withdrawing charges against some of the 14 banks accused of rigging the rand currency, its spokesperson said.

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Why SA's Capitec is Best Bank in the world

The rise of Capitec Bank Holdings as South Africa’s leading bank seems to have no end with the bank now regarded as the Best Bank in the world.

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Nigeria to sell $100 million at special forex auction

Nigeria's central bank will sell $100 million at a special foreign exchange auction on Wednesday, the bank said as the local currency held steady in all segments of the foreign exchange market.

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Ghana requests IMF extended aid deal

Ghana's government has asked the International Monetary Fund (IMF) to push back the end date of its $918 million aid programme from April 2018 to December 2018, IMF and government sources told Reuters on Wednesday.

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Debswana to extend Jwaneng mine lifespan

Botswana's Debswana Diamond Mining, a joint venture between De Beers and the southern Africa country's government, plans to extend the lifespan of its Jwaneng mine beyond 2024, the Mines Minister said.

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Facebook users clock two billion mark

Facebook Chief Executive, Mark Zuckerberg, says the social network now has 2 billion monthly users, an increase of 17% from last year.

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Takata bankruptcy a question mark for consumer lawsuits

The bankruptcy of Japanese auto parts giant, Takata, may frustrate the legal challenges by victims harmed by the company's exploding airbags, which were part of the largest auto safety recall ever.

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