Africa is home to seven of the 10 fastest growing economies globally. This section of Biznews targets existing and potential investors into the African continent. Editors curate the most important news about African business, infrastructure development and investment, including emerging market essentials, trade and development, economic insights, SADC, ECOWAS and EAC region reports.
By Lanre Ola MAIDUGURI Nigeria – Suspected Nigerian Islamist militants killed 17 people in a remote northeastern village on Tuesday night, hours after a bomb killed 118 people in the central city of Jos, police said on Wednesday. Militants opened fire on Alagarno village and razed several houses to the ground, a source at police … Read more
By Steve Slater and Helen Nyambura-Mwaura LONDON/JOHANNESBURG (Reuters) – Gaborone and Lusaka are the unlikely settings for a battle between one of the world’s most famous investment bankers and his former firm over the future of African banking. American banker Bob Diamond last week unveiled plans to raise $400 million to double the war chest of his African venture Atlas … Read more
CAIRO (Reuters) – An Egyptian court sentenced 155 Muslim Brotherhood supporters to jail terms on Wednesday and gave 54 of them life sentences, judicial sources said, in a case related to violence in the Nile Delta province of Mansour last August after the army’s ouster of President Mohamed Mursi. Other defendants were sentenced to between … Read more
By Duncan Miriri KIGALI (Reuters) – Zambia needs faster economic growth than its current single-digit annual rate to tackle rampant poverty, the country’s finance minister said. Alexander Chikwanda said he expects the economy, which relies on farming and mining, to grow by 6 to 7 percent this year from 6 percent last year, after improved … Read more
CAIRO (Reuters) – An Egyptian court on Wednesday sentenced ousted president Hosni Mubarak to three years in prison on charges of stealing public funds. “The court orders Mohamed Hosni Mubarak to be sent to jail for three years,” said judge Osama Shaheen as Mubarak looked on from a cage flanked by his sons, who were … Read more
Rocket attacks struck the Libyan capital overnight, local media reported, as military units continued to line up for and against a retired army officer who earlier this week tried to sideline the legislature. Shells hit an air defence base in Tripoli hours after the air defence command announced its support for retired Colonel Khalifa Haftar, … Read more
NIAMEY (Reuters) – At least a dozen students were injured and around 20 others arrested when hundreds of students, angered by delays in payment of living stipends, clashed with police in Niger’s capital Niamey late on Tuesday, health and police officials said. Police fired teargas and used truncheons to disperse the University of Niamey students … Read more
By Alberto Dabo BISSAU (Reuters) – Former finance minister Jose Mario Vaz won a high-stakes presidential run-off election in Guinea-Bissau meant to draw a line under a 2012 coup, the elections commission said on Tuesday, but the losing candidate rejected the result. The looming dispute over the outcome of Sunday’s vote threatens to stir further … Read more
By Adamu Jonah and Anamesere Igboeroteonwu JOS (Reuters) – Back-to-back bomb blasts killed at least 118 people and wounded 45 in the crowded business district of the central Nigerian city of Jos on Tuesday, emergency services said, in an attack that appeared to bear the hallmarks of the Boko Haram insurgents. There was no immediate … Read more
UNITED NATIONS (Reuters) – Nigeria has formally asked the U.N. Security Council al Qaeda sanctions committee to blacklist the Islamist militant group Boko Haram after the kidnapping of hundreds of schoolgirls, a U.N. diplomat said on Tuesday. If there are no objections from the 15-member council committee, which operates by consensus, Boko Haram will be … Read more