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Vodacom S.A and Neotel end deal talks

Vodacom S.A and Neotel end deal talks

Vodacom announced that its proposed acquisition for a majority stake in Neotel’s fixed line business assets has been terminated “due to regulatory complexities”. The voluntary statement reads that certain conditions were not being fulfilled “accordingly, the parties have agreed that the proposed restructured transaction can no longer be progressed”, it said. Vodacom and Neotel appeared before the Competition Tribunal in ...

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South Africa regulator allows Eskom to raise tariffs by 9.4 pct in 2016/17

South Africa regulator allows Eskom to raise tariffs by 9.4 pct in 2016/17

South Africa’s Energy Regulator said on Tuesday it had allowed state-owned power firm Eskom to raise tariffs by 9.4 percent in the 2016/17, less than what had been requested by the cash-strapped utility. The National Energy Regulator of South Africa (NERSA) announced that it would not grant Eskom the 22.8 billion rand difference it requested for the costs incurred in ...

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Low data on Kenya mineral deposits keeps investors away- Analysts

kenya mine

Lack of extensive data on mineral deposits has curtailed investment in Kenya and other Common Market for East and Southern Africa (Comesa) countries targeting to grow their wealth from mining, analysts said. Dr Tim Griffin, deputy director-general in the Western Australian department of Mines and Petroleum, said uncertainty over the accurate mineral capacity has kept off some potential investors. “Geological ...

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Cement production hits 6.3m tonnes on rising demand

Kenya cement

Cement production last year crossed the six million tonne mark for the first time as manufacturers upped capacity to capture demand from a construction boom driven by infrastructure projects and real estate. Data from the Kenya National Bureau of Statistics shows that cement manufacturers produced 6.3 million tonnes, up from 5.8 million tonnes produced in 2014. Real estate has continued ...

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Barclays exit of Africa to do with regulations – Bob Diamond

Barclays-Bank-014-620x330

Barclays’ re-evaluation of its African strategy, and possible scaling back of its operations, has more to do with regulation in the UK than it has to do with its vision for Africa, according to Bob Diamond, former Barclays boss and co-founder of Atlas Mara. “Barclays is in a difficult position. This has absolutely nothing to do with their vision of ...

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SA’s January trade balance swings to deficit

SA

SA’s trade balance swung from a surplus in December to a steep deficit in January, with the rand bucking the trend and closing stronger at the release of the data. While the large R17.9 billion trade deficit in January — in contrast to December’s surplus of R7.6 billion — would have been expected to cause rand weakness, markets seemed to ...

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Nigerians are moving towards having their businesses on their phones

The mobile internet is rapidly transforming the way Nigeria is doing business. This is being made possible with the use of cheaper smartphones. Magnus Nmonwu, Regional Director, Sage West Africa told CNBC Africa that the country was also seeing the change in the nature of business due to rapid improvements in telecoms infrastructure, and the availability of affordable cloud applications. ...

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Kenya’s diaspora remittance sees an 8.4 percent surge

Remittances to Kenya rose to 1.54 billion US dollars in 2015 up from 1.43 billion US dollars in 2014. PHOTO Wikipedia

East Africa’s economic giant, Kenya, has seen an 8.4 per cent surge in diaspora remittances. Diaspora remittances to Kenya rose to 1.54 billion US dollars in 2015 up from 1.43 billion US dollars in 2014. North America accounted for 49.6 per cent of total inflows in December 2015 and recording growth of 10.1 per cent. Inflow from Europe increased by ...

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Uganda Shilling gains slightly, seen easing due to importer demand

Uganda Shilling gains slightly, seen easing due to importer demand

Uganda’s shilling gained slight ground on Monday and traders said it was seen easing in coming days due to an expectation of increased importer dollar demand after last week’s presidential election. At 0803 GMT, commercial banks quoted the shilling at 3,435/3,445 to the dollar, compared with Friday’s close of 3,443/3,453. “If there is to be a bias, then we will ...

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Investors told to target Africa’s mega-cities, including Accra

City of Accra

Investors who wish to do business in Africa have been advised to re-strategize and target big and growing cities on the continent such as Accra, Lagos, Nairobi, Kinshasa and Johannesburg. This means that instead of taking a view on the continent as a whole, or choosing one country over another, they can seize opportunities city by city. In cities such ...

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