Category: Africa
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Sibanye to boost PGM production as U.S. project comes online
South African mining company Sibanye-Stillwater said on Monday production has started three months ahead of schedule at its Montana-based Blitz project, boosting its platinum group metals (PGM) production in the United States. The project is expected to produce approximately 300,000 ounces annually by late 2021/early 2022, increasing total PGM production from Sibanye’s U.S. operations by…
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Drought cuts 14pc in tea production
Tea production in the first eight months of the year dropped 14 per cent due to a severe drought in the first quarter. Monthly data from the Tea Directorate indicate the volumes of the crop dropped from 309 million kilos last year between January and August to 265 million kilos in the corresponding period this…
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Kenya: Safaricom’s share of calls market hits 5-year high
Safaricom’s share of the voice calls market rose to a five-year high in the year ended June 2017, underscoring the company’s continued dominance of Kenya’s telecommunication market. Newly-released data from the Communications Authority of Kenya (CA) shows that Safaricom had 80.4 per cent share of voice traffic, up from 75.7 per cent the previous year.…
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Nigeria: Dangote – Rumour of 10-Year Tax Holiday Granted Me Preposterous, Untrue
Africa’s richest man and business mogul, Aliko Dangote, has debunked the rumours in public domain that his company will benefit 10-year tax holiday after constructing the 35 kilometres Apapa-Oworonshoki highway end of the Lagos-Ibadan expressway, describing it as preposterous and untrue. Speaking to a cross section of journalists in his Ikoyi office yesterday, the Group…
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Nigeria Recovers $3 Billion Unpaid Oil Monies, Says NEITI
The total amount of unpaid oil and gas monies that Nigeria’s government has recovered using audit reports of the Nigeria Extractive Industries Transparency Initiative (NEITI) has hit $3billion, the Executive Secretary of NEITI, Mr. Waziri Adio has disclosed. Adio stated in a presentation he made at the 2017 edition of the annual lecture series of…
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Nigeria’s Buhari says will not allow state to be dismembered by secessionists
Nigeria’s President Muhammadu Buhari said on Sunday he would not allow the country to be dismembered as it faces calls for secession in a region formerly known as Biafra and the Niger Delta oil hub along with a separatist insurgency by Boko Haram. Nigeria is Africa’s most populous nation and has the continent’s largest economy…
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Inside South Africa’s olive oil industry
As world demand increases, South Africa is stepping up to the plate in meeting the shortage of quality, fresh olive oil. Olive oil is no longer simply used for cooking. Its many and varied uses, including its numerous health benefits, are increasingly known and enjoyed by foodies the world over. In South Africa, consumers are…
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South Africa’s parliament cuts ties with auditor KPMG
South Africa’s parliament said on Wednesday it has terminated its contract with KPMG, citing reputational risks after the global auditor was caught up in a scandal involving business friends of President Jacob Zuma. Parliament said this termination includes a contract KPMG has a medical aid scheme for Members of Parliament. KPMG cleared out its South…
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“Africa will become the food basket of the world” – Dangote
Nigerian business leader Aliko Dangote told investors Africa will become the food basket of the world.” In a packed room at the headquarters of global law firm Shearman and Sterling LLC high-level business leaders and international diplomats invited by the Corporate Council for Africa to hear Africa’s richest man, Aliko Dangote, and Rwandan president Paul…
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Nigeria central bank holds benchmark interest rate at 14%
Nigeria’s central bank held its benchmark interest rate at 14 percent on Tuesday, its governor said following a Monetary Policy Committee meeting. Fourteen of 15 economists polled by Reuters last week predicted rates would stay on hold while one forecast a 200 basis point cut. – Credit: CNBC Africa