Economy

NNPC plans to revamp refineries to cut fuel imports

Nigeria’s state-oil firm NNPC said it plans to revamp its refineries to help Africa’s biggest crude oil producer to save billions of Dollars on fuel imports and has hired Italy’s Maire Tecnimont to tackle the Port Harcourt plant.

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Tunisia's benchmark interest rate held at 7.75%

Tunisia’s central bank has kept its benchmark interest rate unchanged at 7.75%, it said on Friday.

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Survey ranks Durban SA’s best city

Durban was ranked as South Africa's best city in terms of quality of living, according to Mercer's 21st Quality of Living survey.

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Sasol donates towards Cyclone Idai victims

Sasol has committed to donate $250 000 for the relief and support of communities that have been severely affected by the tropical cyclone Idai in Beira and Dondo in Sofala province of Mozambique.

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SA Express adds another flight between Johannesburg, DRC

SA Express on Thursday announced it would add another return flight between Johannesburg and Lubumbashi in the Democratic Republic of Congo as passenger demand has grown.

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Rand flat after post Fed rally

South Africa’s Rand traded sideways early on Friday in subdued volumes following a bank holiday and a quiet session in Asia, pausing a Fed-inspired rally that had lifted the currency away from a one-month low.

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World Bank Africa Vice President to visit Ghana

World Bank Africa Vice President, Hafez Ghanem, will arrive in Ghana on Sunday as part of a three-day mission to the country.

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Garuda Indonesia to scrap Boeing 737 Max 8 order

Garuda Indonesia is seeking to scrap its multi-billion dollar order for 49 Boeing 737 Max 8 jets after the plane was involved in two fatal crashes.

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AU celebrates Ethiopia's ratification of AfCFTA

Ethiopia’s parliament on Thursday approved the membership of the country into the Africa Continental Free Trade Agreement (AfCFTA), bringing the number of ratifications across the continent to 21.

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'Eskom power cuts to hit SA GDP growth'

Severe planned power cuts, termed “load-shedding” at South Africa’s State-run utility, Eskom, are expected to shave 0.3 percentage points off first-quarter GDP growth, Goldman Sachs said on Thursday.

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