Economy

Alleged Angolan fraud scheme aimed to take $1.5 billion: Finance Ministry

People involved in an alleged scheme to defraud Angola’s government laid out plans to secure as much as $1.5 billion, the finance ministry said on Monday, three times the amount previously mentioned by authorities.

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SA net foreign reserves rise in March

South Africa’s net foreign reserves rose to $43.384 billion in March from $43.272 billion in February, the Reserve Bank said on Monday.

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Rand firmer as buying on recent dip aids recovery

South Africa’s currency firmed to back below the crucial R12 per Dollar mark on Monday, with some traders anticipating the unit would reverse a run of three consecutive sessions of losses as the Dollar struggled to shake off trade tensions.

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De Beers, Botswana plan to expand Jwaneng diamond mine

Debswana, a joint venture between the Botswana government and De Beers, plans to expand its Jwaneng Mine, extending its lifespan by eleven years to extract a further 50 million carats.

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UK rolls out sugar tax in battle against obesity

Britain on Friday joined France, Norway and Mexico in rolling out a sugar tax on soft drinks in an attempt to tackle obesity and tooth decay in children.

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Lufthansa cancels 800 flights in German airport strikes

German airline giant Lufthansa said it will cancel "more than 800" flights Tuesday as public-sector workers walk out on strike for more pay, hobbling major airports like Frankfurt.

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Union wants court to place SAA under business rescue

South African trade union, Solidarity, plans to go to court in an attempt to have embattled national carrier South African Airways (SAA) placed under business rescue.

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Ghana to court Japanese bond investors

Government officials from Ghana will meet investors in Japan this week as the West African nation seeks to diversify its range of sovereign bondholders, the finance ministry said on Sunday.

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SA President refers Eskom allegations to SIU

South African President, Cyril Ramaphosa, referred allegations of mismanagement and graft at State power utility, Eskom, and rail and ports group, Transnet, to the Special Investigating Unit (SIU).

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'Local listing not viable for Zimbabwe's biggest platinum miner'

Impala Platinum has said Zimbabwe’s plan to compel mining companies to list the majority of their shares on the local exchange isn’t feasible and would impede operators’ ability to grow and invest in their assets.

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