Economy

Vodacom Tanzania commemorates 10 years of M-Pesa

Vodacom Tanzania is celebrating 10 years of M-Pesa, now boasting 8.2 million active users since its launch in 2008.

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Renault's Ghosn likely to step down as CEO

Renault South Africa's Carlos Ghosn islikely to step down as Chief Executive of the French car maker before the end of his term in 2022, the Financial Times reported on Thursday.

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Microsoft takes aim at Amazon with push for checkout-free retail

Microsoft Corp is working on technology that would eliminate cashiers and checkout lines from stores, in a nascent challenge to Amazon.comInc's automated grocery shop, six people familiar with the matter told Reuters.

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Italy rejects appeal to impasse Shell, Eni corruption trial

Italy’s Supreme Court threw out an appeal from Shell and four former Shell managers to stymie a trial on alleged corruption in Nigeria, which also sees Eni’s chief on the bench, legal sources said on Wednesday.

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Sea Harvest to buy Viking Fishing assets

South African frozen fish supplier Sea Harvest Group, said on Tuesday a consortium of black investors it leads will buy the fishing business of domestic peer Viking Fishing Group for R885 million ($66 million).

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SA retail sales data disappointing

After lower business confidence, retail sales data released on Wednesday has also disappointed.

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Chinese growth shows signs of flagging

Chinese economic growth showed signs of flagging in data released on Thursday as Beijing faces trade tensions with the United States as well as debt and pollution battles at home.

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Kenya's Centum to finalise power plant funding

Kenya’s Centum Investment Company said on Wednesday a $2 billion, 1 000 MW coal-fired power plant it has a stake in is expected to reach financial close this year.

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Petra Diamonds shareholders back rights issue

Shareholders in mining company Petra Diamonds on Wednesday approved a rights issue to raise about $170 million to help cut its debt burden, driving the share price around 5% higher.

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MTN aims to launch mobile service in Namibia

MTN Group, Africa’s biggest mobile telecoms firm, is aiming to launch a mobile service in Namibia around the end of August, a company executive told Reuters.

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