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Sep 18, 2014
South Africa's Reserve Bank Governor Gill Marcus left interest rates unchanged at 5.75% on Thursday, as expected, saying the domestic growth outlook had deteriorated further. She then announced she would be stepping down on November 8 at the end of her five-year...
Sep 18, 2014
Uganda is hoping to secure an $8-billion loan from China to build a railway network to revamp the country's transport infrastructure as it prepares to start oil production. As in other areas of Sub-Saharan Africa, China has become a major investor in Uganda. It has...
Sep 18, 2014
Three Chinese firms led by Shanghai Electric Group are considering setting up a coal mine and a 1 200 MW thermal power station in western Zimbabwe, company officials said. Industries and households in the southern African country have endured electricity cuts for...
Sep 18, 2014
Zambia and Zimbabwe have obtained pledges of $280-million to rehabilitate the Kariba dam, a crucial source of energy built more than 50 years ago that requires urgent maintenance, the authority managing the dam said on Wednesday. The European Union (EU) will provide...
Sep 18, 2014
China will launch a gold exchange open to foreign players for the first time on Thursday, putting the world's top bullion buyer on track to win a race to set the benchmark price in Asia. The Shanghai Gold Exchange (SGE) will launch its international bourse with...
Sep 18, 2014
The largest-ever outbreak of Ebola could drain billions of dollars from economies in West Africa by the end of next year if the epidemic is not contained, the World Bank said in an analysis on Wednesday. The global development lender predicted that slow containment...
Sep 18, 2014
Guinea, Liberia and Sierra Leone could receive an additional $127-million from the International Monetary Fund to help them deal with the worst-ever outbreak of the Ebola virus, the IMF said on Wednesday. The funds, which must still be approved by the IMF's executive...
Sep 18, 2014
Tanzania plans to lift gold production at its Stamigold Biharamulo gold mine, formerly owned by African Barrick Gold, to 40 000 oz next year, almost four times its expected output for 2014. Stamigold became the first state-owned gold mine in Tanzania, Africa's...
Sep 18, 2014
Potash Corp of Saskatchewan, the world's second-biggest producer of the crop nutrient potash, is recalling workers at some of its Canadian mines as it gears up for a possible rise in production in 2015, a senior executive said on Wednesday. The company cut its...
Sep 17, 2014
Lafarge Africa, Finland's Wartsila and the World Bank's IFC have agreed to build a 220 MW gas-fired power plant in Nigeria to boost electricity supplies, they said on Wednesday. The trio said in a statement their plan was to help fast-track increased power supplies...
 
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