The Kenyan government has signed agreements with oil major Total, Tullow Oil and Africa Oil Corp to develop a 60,000-80,000 barrels per day crude processing facility for oil discovered in the country’s northwest. The Petroleum and Mining Ministry said on Twitter on Tuesday that the heads of term agreements were...
Tanzania's central bank cut the proportion of deposits banks are required to maintain as reserves 7% from 8%, effective July 1, in order to boost lending, it said on Monday. The East African nation does not set interest rates conventionally using a benchmark. It uses the statutory minimum reserve requirement...
South Africa's Life Healthcare posted a slim 2.2% rise in first-half normalised core profit, reflecting lower activity amid a tepid first quarter in its home market. The private hospital operator said on Thursday normalised earnings before interest, tax, depreciation and amortization (EBITDA) rose to 2.73 billion rand ($185 million) from...
Tanzania will export 700,000 tonnes of maize to Zimbabwe after an El Nino-induced drought wilted crops, Tanzania's president said, adding that he hoped the sale would stimulate trade between the two nations.    "We have agreed to sell 700,000 metric tonnes of maize to Zimbabwe, which faces food shortages," Tanzania...
South Africa's MTN on Tuesday revealed plans to build a "market place" app where customers will be able to buy everything from insurance to washing machines as it seeks to build its mobile money platform MoMo into Africa's biggest bank. MTN, whose 233 million telecoms subscriber base spans Africa and...