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South Africa proposes 5% black ownership in mining in mining firms

South Africa plans to raise black ownership at permit-holding mining companies to 30 percent from 26 percent within five years, the latest draft of a hotly-contested new industry charter showed on Friday. The government and miners had been at loggerheads over a previous version of the charter, which the Chamber of Mines industry body slammed […]

ZIMBABWE GETS ITS FIRST BILLIONAIRE

ZIMBABWE GETS ITS FIRST BILLIONAIRE

Telecom tycoon Strive Masiyiwa has become Zimbabwe’s first billionaire. According to a report by Forbes, Masiyiwa, 57 is now worth $1.7 billion. Masiyiwa controls Econet Group, a Zimbabwe-listed mobile phone company that also has investments in financial services, insurance, e-commerce, renewable energy, education, Coca-Cola bottling, hospitality and payment gateway solutions. Econet also has a Pay television outfit, Kwesé TV, […]

South Africa proposes 5% black ownership in mining in mining firms

Nigeria signs deal to supply oil and gas to West Africa

President Muhammadu Buhari and the King of Morocco, His Majesty Mohammed VI, held a Bilateral Meeting upon Pres Buhari’s arrival in Rabat on a 2-day Official Visit. The 2 countries signed Agreements on a Gas Pipeline, a Basic Chemicals Platform, & Agriculture Cooperation The Federal Republic of Nigeria and the Kingdom of Morocco on Monday […]

South Africa proposes 5% black ownership in mining in mining firms

South Sudan to introduce higher denomination banknote amid soaring inflation

South Sudan government announced the introduction of a new 500-pound banknote in view of the value of 100 note being eroded by inflation. The East African country is facing an acute economic crisis due to the ongoing civil war. In a statement issued on Friday, the Bank of South Sudan announced that the new banknote will […]

South Africa proposes 5% black ownership in mining in mining firms

South Africa seeks to increase investment in energy sector

The South African government on Friday said there is an increase in the renewable energy investment and they want to see more money put in the energy sector. Gouda wind farm in Western Cape Province, South Africa. Construction Review This was said by South Africa’s Energy Minister Jeff Radebe speaking at a stakeholder engagement in […]

South Africa proposes 5% black ownership in mining in mining firms

China,Burkina Faso resume diplomatic ties

China’s Foreign Minister Wang Yi and Burkina Faso Foreign Minister Alpha Barry attend a signing ceremony establishing diplomatic relations between the two countries in Beijing, China, May 26, 2018. REUTERS/Thomas Peter/Pool China and Burkina Faso  formally established diplomatic relations on Saturday, after the West African nation severed ties with self-ruled Taiwan, in another victory for […]

South Africa proposes 5% black ownership in mining in mining firms

Ethiopian Airlines to acquire its 100th aircraft in June

Ethiooian Airlines, Africa;s largest aviation group, has announced that it will acquire its 100th aircraft, a Boeing 787-900, early next month. The Ethiopian national carrier said in a statement on Thursday that it would be the first time for an African airline to operate a 100-aircraft fleet in the history of the continent. “This milestone […]

South Africa proposes 5% black ownership in mining in mining firms

South Sudan scraps fuel subsidies to cut expenditure

The South Sudanese government has scrapped fuel subsidies in a bid to cut spiralling public expenditure costs in the youngest nation hit by rampant fuel shortages due to a four-year long armed conflict. Deputy Minister of Information Lily Albino Akol told journalists that President Salva Kiir ordered the removing of the fuel subsidies in order […]

South Africa proposes 5% black ownership in mining in mining firms

Algeria announces plan to end import ban on mobiles, food, home appliances

Algeria plans to lift a ban on imports of cell phones, household appliances and food and bring in high customs duties instead, its trade minister said on Monday. This they say is an attempt to generate more tax revenue to ease pressure on state finances. The ban replaced a license system the government imposed in […]

South Africa proposes 5% black ownership in mining in mining firms