Economy

SA advised to bail out Eskom

The South African government needs to “bite the bullet” and bail out struggling State-run power firm, Eskom, which has asked for R100 billion ($7 billion) in government support, the Chief Executive of Rothschild & Co in South Africa told Reuters.

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Congo's Gecamines increases stake in Boss Mining joint venture

Democratic Republic of Congo’s state mining company Geca mines said on Monday it will increase its stake in its Boss Mining joint venture with ENRC Africa Holdings to 49% after the two companies renegotiated terms.

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Nedbank offer at odds with SA Consumer Commission

South Africa’s Nebank’s odd-lot offer to shareholders is at odds with the principles applied by the National Consumer Commission, when it prohibited inertia or negative-option marketing in 2004 in terms of the Unfair Business Practices Act.

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Rwanda’s motorcycle taxi industry gets a boost

In Rwanda they are called Moto taxis, in Nigeria Okadas, while in Uganda, there is Boda-boda, a name which came from the two-wheeled taxis in East Africa that would transport travellers between points along the Kenyan-Ugandan border.

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Stanbic named best bank in Zambia

Stanbic Bank Zambia has been voted the Best Bank in Zambia for 2018 by the Financial Times’ The Banker magazine for its industry-shaping strategic initiatives and outstanding financial performance.

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China slams inhumane treatment of Huawei executive

China on Monday ratcheted up its protest over the arrest of an executive of telecom giant, Huawei, on a United States (US) warrant in Canada, calling reports of her treatment "inhumane" as she seeks her release on bail for health reasons.

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EU court rules Britain can revoke Brexit unilaterally

Europe's top court ruled Monday that Britain could halt Brexit without the approval of fellow European Union (EU) member states, in a victory for pro-Europeans on the eve of a key House of Commons vote.

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SA financial regulator probes Steinhoff accounts

South Africa’s financial regulator is investigating seven trading accounts that sold Steinhoff International Holdings NV shares in the weeks leading up to the global retailer’s disclosure of accounting irregularities and share-price collapse.

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MTN launches music streaming service

MTN announced the launch of a music streaming service called MusicTime. This comes after MTN's recent acquisition of music streaming provider, Simfy Africa.

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SA confident Tunisia trade leads will yield positive results

The South African government and business delegation that returned from Tunisia on Sunday expressed confidence that the trade leads that they generated there will result in concrete deals.

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