Economy

Sierra Leone in fourth bid to launch oil sector

Seeking to capitalise on higher oil prices, Sierra Leone has extended the deadline of a fourth oil licensing round for five deep water offshore blocks until September 27, officials told Reuters.

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Ghana, I Coast to agree cocoa export volumes

Ghana and Ivory Coast will jointly decide on the volume and timing of cocoa exports by August for the 2019/20 season in an effort to increase producer profits, the head of Ghana’s Cocobod said on Wednesday.

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Nigeria inflation dips to lowest in more than two years

Annual inflation in Nigeria slowed to 11.61% in May, its lowest level in more than two years and its 16th straight monthly drop, the National Bureau of Statistics said on Wednesday.

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Sabric financial losses amount to millions of Dollars

The South African Banking Risk Information Centre (Sabric) projects financial losses will amount to nearly half a billion Rand by year’s end, unless the current raft of cash in-transit heists are not stemmed.

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Contingency measures in place ahead of Eskom strike

South Africa's power utility, Eskom, says contingency plans and security measures are in place in anticipation of the worker's strike.

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Soufflet to build malt factory in Ethiopia

French grain group, Soufflet, will build a malting factory in Ethiopia, its first project in Africa, with an initial production target of 60 000 tons, the company said on Thursday.

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S Sudan passes 2018-19 budget

South Sudan’s cabinet adopted on Thursday a budget of 81.6 billion South Sudanese Pounds ($62 million) for the 2018-19 fiscal year, an increase of 75% from the previous period, the government said.

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Rolls-Royce to cut 4 600 jobs

Rolls-Royce plans to axe 4 600 mainly British management roles by 2020 to further slash costs, the UK maker of plane engines announced on Thursday.

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SA rail agency set to meet the needs of commuters

The continuing decline in passenger rail investment is making it difficult for the rail industry to provide an efficient alternative transport to commuters.

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SA clothing, textiles industry show signs of recovery

The South African clothing, textiles, footware and leather industry is showing signs of recovery after years of gradual decline.

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