Economy

Bank of Baroda leaving SA

Gupta-linked bank, the Bank of Baroda, has notified the Office of the Registrar of Banks of its exit from South Africa.

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SA Deputy President eyes 2018 for economic recovery

The year 2018 is a year for action, where social players in South Africa take steps to transform the economy, said Deputy President Cyril Ramaphosa.

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SA fruit exporters score big at German Fair

The Fruit Logistica Trade Fair that took place in Berlin, Germany has produced tangible results for two of South Africa’s Western Cape province-based companies and promising leads for several others in the fruit industry.

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Ghana sells Cedis worth of five-year local bonds

Ghana sold 1.99 billion Cedis ($448 million) worth of a fresh five-year domestic bond on Thursday and the major commodity exporter will pay a yield of 16.5%, joint transaction arrangers said.

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Nigeria's planned Eurobond to help government cost

A proposed $2.5 billion Eurobond to refinance some of Nigeria’s treasury bill portfolio will not increase its overall debt stock but will help lower cost, the Debt Management Office (DMO) said on Friday.

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Steinhoff’s biggest shareholder cuts stake to 6%

Christo Wiese, the former chair of Steinhoff International Holdings, has slashed his stake in the retailer to 6.2%, a move that may mean one of South Africa’s richest men is no longer the company’s biggest shareholder.

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SA Reserve Bank to launch Mandela centenary commemorative notes

The South African Reserve Bank (SARB) will launch commemorative banknotes to honour the late Nelson Mandela’s centenary, it said in a statement on Sunday.

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FAO appeals for $1 billion to curb global hunger

With conflict and climate-related shocks sending global hunger numbers marching back up after declining for decades, the United Nations Food and Agriculture Organisation (FAO) is asking for some $1billion to save lives and livelihoods.

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Namibia predicts 2018 GDP growth

Namibia’s economic growth is expected to accelerate to 2.2% this year from an estimated 1.6% growth in 2016, supported by higher commodity prices, Finance Minister Calle Schlettwein said on Friday.

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Steinhoff Africa Retail's quarterly revenue increases

Steinhoff Africa Retail (STAR) reported a 15.5 percent increase in revenue for the quarter ended December on Friday, thanks mainly to a strong showing at discount clothing chains.

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