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Africa

BMW

South Africa economy in danger with BMW investment embargo - analysts

Analysts predicted that the Bayerische Motoren Werke (BMW) AG's move to withdraw its expansion plans in South Africa could affect the country's economy.

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Angola Oil Industry

Angola imposes consumption tax on oil firms

Angola would be imposing a 10% tax on oil firms operating in the country.

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Sanlam Group

Sanlam unit in discussions with Nico Holdings over buyout offer - report

An African news outlet said in its report that Sanlam Emerging Markets (SEM) had started its negotiations with Nico Holdings over buying a 49% in its short-term insurance business unit Nico Life Insurance.

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Mining in the Democratic Republic of Congo

Congo government intends to increase free stake of new mining projects to 15%

The government of Congo had plans to implement changes to its equity agreements with mining firms, which includes increasing its free stake in all new mining projects from 5% to 15%.

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Africa's Oil and Gas

South African government intends to obtain a 20% stake in each of new oil and gas projects

The government of South Africa had planned to obtain a 20% free stake in each of new oil development projects.

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Libya Prime Minister

Libyan Prime Minister kidnapped by Revolutionary Group

Libyan Prime Minister Ali Zaidan had been kidnapped by a revolutionary group from Tripoli and was taken at dawn into an unknown destination, said a Bloomberg report.

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South Africa

South Africa's largest telecoms firms may undertake cutbacks if no compromise reached with regulators

MTN and Vodacom may be forced to cut back its business should no compromise be met on mobile termination rates.

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handshake

Abraaj Group invests in the African Industrial Services Group

Abraaj Group would put an undetermined amount in AIS Group.

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MTN

South African mobile operators share values and rates cut by regulator edict

Vodacom Group, MTN Group and Telkom would have their respective fortunes change because of the latest regulatory guidelines issued in South Africa.

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Petroceltic International Plc

Algerian stake sale boosts Petroceltic International

Sonatrach's purchase of Petroceltic International's Algerian assets increased the value of the latter's stock.

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The Abraaj Group

Abraaj Group backs African Industrial Services Group

The Abraaj Group made its first investment in Cote d'Ivoire to back African Industrial Services Group.

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Mining in Africa

ZCCM Investment Holdings to pay off debt, invest through share sale proceeds

ZCCM Holdings said it would be offering stock for sale to existing stakeholders to help pay off debt and fund new investments.

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Essar Energy Ltd

Essar Energy divests shareholdings in Kenya Petroleum Refineries

Under the joint venture agreement, Essar Energy can exercise a USD5 million option to sell its shareholdings in the joint venture project with the Kenyan government.

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Nigerian President Goodluck Jonathan

Nigerian President gives control of power firms to private companies

Nigerian President Goodluck Jonathan handed control of 14 power companies formerly owned by the state to private investors.

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Blackstar Group

Blackstar says it will fight Shoprite Holdings trade reversal

The Blackstar Group said it would be fighting the court proceedings initiated by Shoprite Holdings to reverse its stock trades in Zambia.

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