Economy

IMF holds talks with Zambia

The International Monetary Fund (IMF) said on Friday it held talks with Zambian authorities over the possibility of an aid programme, and said there was a range of facilities available for the southern African country.

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FirstRand's Namibia unit gets approval to buy money manager

South Africa bank FirstRand's Namibian unit has secured regulatory approval to buy out a fund manager, it said on Friday, as part of the lender's stated plan to bulk up in the southern African nation.

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SA's maize output seen rising in 2017

South African farmers are expected to harvest 84% more maize this season compared with last season as yields were boosted by increased rains, a Reuters survey of five traders and market analysts showed on Friday.

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Acacia says Tanzania ore export ban costing $1 million in daily revenue

Gold miner Acacia Mining said it was incurring an average daily loss of more than $1 million in revenue at its two mines in Tanzania due to a local government directive banning exports of gold and copper concentrate.

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Samsung rejects calls for holding company structure

Samsung Electronics Co Ltd on Friday said it will not adopt a holding company structure for now, rejecting demands from US activist hedge fund, Elliott Management, and putting off a long-anticipated restructuring.

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SA's Brait suspends LSE listing plan on Brexit uncertainty

South Africa's Brait SE has suspended plans to list on the London Stock Exchange, the investment firm said on Friday, citing uncertainty over Britain's decision to leave the European Union.

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SA’s Capitec makes first foreign acquisition

South Africa's Capitec Bank has purchased a 40% stake in Latvia's Creamfinance for 21 million Euros ($22.7 million), the lender said on Friday, its first acquisition outside its home market.

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Shell sells Gabon onshore energy assets

Royal Dutch Shell has sold its onshore oil and gas interests in the central African nation of Gabon for $587 million to private equity firm Carlyle Group, it said on Friday.

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Mali hits record cotton production

Mali forecasts cotton production for the upcoming 2017/18 season at 725 000 tons, up about 12% from the current season's record yield of at least 645 000 tons, the agriculture minister said on Friday.

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Effissimo expects long-term price gains with Toshiba stake purchase

Singapore-based fund, Effissimo, which has given embattled Toshiba Corp a rare vote of confidence with its purchase of 8% stake this month, said on Friday the holding was for pure investment purposes and it expected long-term price gains.

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