South Africa’s Special Investigating Unit (SIU) will investigate whether a sweetener of more than R35 million ($2 million) was paid for a State contract with German software firm, SAP, a spokesperson for the unit told Reuters.
Oil prices rose on Wednesday after a report of a decline in United States (US) crude inventories and looming sanctions against Iran raised expectations of tightening supply, while top producer Russia warned of a fragile global market.
The Central Bank of Kenya on Wednesday said it had fined five commercial banks a total of 392.5 million Shillings ($3.89 million) in connection with the theft of funds at the National Youth Agency, a government body said.
The European Union (EU) could one day offer a free trade agreement to the whole of the African continent, European Commission President, Jean-Claude Juncker, will say in a keynote speech on Wednesday, an EU official said.
Trafigura has lost its last big contract in Angola, once a core market and revenue generator for the trading house, as the country’s new President, Joao Lourenco, parts ways with oil firms that worked with his predecessor, Jose Eduardo Dos Santos.