Economy

SA cement maker PPC reschedules Congo plant debt

South African cement producer PPC said on Friday it has reached agreement with lenders to reschedule the debt relating to a new $300 million plant in the Democratic Republic of Congo (DRC).

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Nikkei edges up with its financial stocks

Japan's Nikkei share average edged up on Friday with financial stocks leading the gains after United States yields rose, while GMO Internet soared after an activist fund called on the company to change its governance structure.

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Nigeria sues JP Morgan over Malabu oilfield deal

Nigeria has filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company controlled by the country's former oil minister.

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SA Treasury congratulates Kganyago on IMF appointment

South Africa's National Treasury has congratulated the Governor of the Reserve Bank, Lesetja Kganyago, in his appointment as the Chairperson of the International Monetary and Financial Committee of the IMF.

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Urgent financial aid needed in Somalia

An estimated $1.6-billion is urgently needed to save and protect 54 million lives from an unprecedented drought in Somalia.

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Apple admits to slowing down older iPhones

United States tech giant Apple Inc confirmed last Wednesday that it purposely slows older models of its iPhones in an effort to prevent issues with aging batteries and to improve phone performance after a long period of rumors.

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SA farmers lament illicit trade

At least 3000 jobs can be created in tobacco alone if government succeeds in combating crime.

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Volkswagen to start new plant in Rwanda

Germany's Volkswagen AG says it will start assembling three vehicle models at a new plant in Rwanda in May for local sale and use in its own new ride-sharing service.

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Team SA to take message of unity, renewal to WEF

South Africa's Deputy President, Cyril Ramaphosa, says team South Africa will be taking the message of unity and renewal to the World Economic Forum in Davos, Switzerland.

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Ivory Coast exports more cocoa in the world

Ivory Coast in West Africa exports more cocoa that any other country in the world.

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