Economy

Spectre of debt defaults haunts Eat Africa

East African countries face a higher risk of debt defaults as governments grapple with shrinking tax revenues, lower export earnings, as well as limited access to external resources.

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‘African Free Trade could lead a Covid-19 recovery’

Vice President of the African Development Bank (AfDB) Solomon Quaynor has said the implementation of the African Continental Free Trade Area (AfCFTA) could lead the recovery from the Covid-19 crisis.

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SA retailers turn from China to source local clothes

South African retailers including The Foschini Group and Woolworths Holdings are increasing investment in local clothing manufacturers, both to reduce a dependency on Chinese imports and secure a supply chain thrown into disarray by Covid-19.

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Field narrows for global miner Rio Tinto's top job

Rio Tinto will look to a handful of external candidates in a narrowing field for its new chief executive, as the miner tries to win back investors dismayed by the blasting of an ancient Australian rock shelter, bankers and investors say.

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OPEC+ yet to find compromise on oil policy for 2021: Sources

OPEC and allies led by Russia have yet to find a consensus on oil output policy for 2021, after an initial round of talks on Sunday and ahead of crucial meetings on Monday and Tuesday, four OPEC+ sources told Reuters.

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SA Reserve Bank issues online payment warning

The SA Reserve Bank (SARB) has issued a warning to consumers to be vigilant against suspicious instant electronic funds transfer (EFT) online payment services ahead of the festive season shopping spree.

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Bidvest sees recovery matching up with 2019

The Bidvest Group said it had seen a recovery in trading performance in the four months to the end of October, with revenue and trading profit broadly unchanged compared to the same period last year.

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Credit Suisse commercial property fund to liquidate amid big discount

A Credit Suisse Group global property fund will wind down against the backdrop of low trading volume and a discount of more than 20% to underlying assets due to market corrections triggered by the COVID-19 pandemic, the Swiss bank said.

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Canada blocks bulk exports of some drugs

Canada on Saturday blocked bulk exports of prescription drugs if they would create a shortage at home, in response to outgoing United States President, Donald Trump’s efforts to allow imports from Canada to lower some drug prices for Americans.

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Huawei offers telecom equipment to Nigerian university

Chinese telecom company, Huawei, has donated telecommunication equipment to the Ahmadu Bello University (ABU) in northwest Nigerian city of Zaria as part of a partnership to stimulate the learning of information and communication technology in the We

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