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Nigeria wants banks to give 60% of forex to manufacturing firms

Aug 23 2016 15:45

Nigeria's central bank has asked commercial lenders to allocate 60% of their foreign exchange purchases to manufacturers.


Angola govt fails to approve $1.75bn Cobalt deal

Aug 23 2016 14:00

Cobalt International Energy says the proposed $1.75bn sale of a 40% stake in two offshore oil blocks in Angola to the state oil company has been terminated.


Zambia's struggling economy likely to pick up

Aug 23 2016 12:45

Zambia's economy is forecast to improve next year as copper prices recover and inflation slows sharply, according to a Reuters poll.


Egypt plans to end fuel subsidies - sources

Aug 23 2016 11:56

Egypt plans to end fuel subsidies within three years and is aiming to increase fuel prices, government sources say.


Nigeria’s naira gains after central bank dollar sales

Aug 22 2016 18:19

Nigeria's naira has closed firmer on the interbank market after the central bank sold dollars to some commercial lenders towards the end of a session.


Africa's billionaires see decline in fortunes

Aug 22 2016 14:41

Africa has 41 of the world's 2 473 billionaires who between them hold $98bn of a total of $7.7trn in assets, down from $115bn in 2014, according to a survey.


Sub-Saharan Africa may help soak up global LNG glut

Aug 19 2016 16:32

Sub-Saharan Africa holds the highest potential to become a "niche" market for liquefied natural gas to feed power plants, according to BMI research.


Uganda expects surge in coffee export crop

Aug 19 2016 12:25

Uganda expects its coffee exports in the 2016/2017 season to increase by 13.5% helped by favourable weather in a major growing area.


Mauritius raises 2016 tourism earnings forecast by 1.8%

Aug 19 2016 12:15

Mauritius has said tourism revenue in 2016 will be 1.8% higher than it had previously forecast, after a surge in visitors during the first half.



How to expand Nigeria's economy

Aug 18 2016 15:18

Nigeria will need to combine monetary policies with fiscal and structural policies to overcome its worst economic crisis in decades, says President Muhammadu Buhari.


Demonstration against Chevron in Nigeria widens

Aug 15 2016 19:49

Protesters have blocked the gate to offices of US oil company Chevron in Nigeria's Niger Delta, widening a week-long demonstration to demand jobs and housing.

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