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Friday, July 10, 2020

Angola president dismisses Sonangol chair Isabel dos Santos

LUANDA (Reuters) - Angolan President Joao Lourenco dismissed Isabel dos Santos as chair of the state oil company Sonangol on Wednesday, in a dramatic move against the family of the former president. Analysts said the change was likely aimed at cementing Lourenco’s power and...

Afrexim Bank reinstates commitment to promote Intra-African trade

The African Export-Import Bank has reiterated the commitment of the bank to promote Intra-African trade on the African continent. Dr Benedict Oramah, the President of Afrexim Bank said this at a news conference on Wednesday in Abuja. According to Oramah, the bank had a new strategy...

U.S. signs $524.7 million investment compact with Ivory Coast

WASHINGTON- The Millennium Challenge Corporation, the U.S. government’s main development fund, said on Tuesday it had signed a $524.7 million investment compact with Ivory Coast to build schools and improve roads around the busy port in the commercial capital Abidjan. The five-year compact was signed...

Sudan in talks with Norway’s Scatec Solar to build solar farm

OSLO (Reuters) - Sudan is in talks with Norway’s Scatec Solar to build its largest solar power farm, investment minister Mubarak Al-Fadil told Reuters, following the lifting of U.S. trade sanctions in October. A Sudanese delegation led by Al-Fadil met with Scatec Solar executives last...

McKinsey worked with S.African firm after learning of Gupta links: sources

Joe Brock, Ed Cropley JOHANNESBURG (Reuters) - Global consultancy McKinsey worked with a firm in South Africa for four months after learning it was controlled by the Gupta brothers, business friends of President Jacob Zuma accused of corruption, four sources familiar with the deal said. Their...

Why good infrastructure governance is the key to unlocking Africa’s potential

  By Chris Heathcote, CEO of Global Infrastructure Hub (GI Hub), a G20 initiative CAPE TOWN, South Africa, November 2, 2017/ -- Africa’s first roundtable on infrastructure governance is taking place in Cape Town this week. Chris Heathcote, CEO of Global Infrastructure Hub (GI Hub), which...

Two banks drop McKinsey in fallout from South Africa scandal

JOHANNESBURG (Reuters) - Barclays Africa and Standard Bank said on Monday they would stop working with McKinsey, a further blow to the global consultancy as it faces allegations of bribery for work done with friends of South African President Jacob Zuma. Privately-held McKinsey, the world’s...

Chad wants to cut off Glencore’s oil supplies in debt row

N‘DJAMENA/LONDON (Reuters) - Chad is on a collision course with top creditor Glencore as it wants to divert oil from the Swiss trading house to U.S. energy company ExxonMobil from the new year amid a dispute over debt restructuring. A government document showed that Chad...

Standard Bank dumps Mckinsey amid South Africa scandal

JOHANNESBURG (Reuters) - South Africa’s Standard Bank has dropped the services of McKinsey, spokesman Ross Linstrom said on Monday, weeks after the global consultancy apologised for errors it made while working with state power utility Eskom last year. “Standard Bank has elected to terminate McKinsey...

Two banks drop McKinsey in fallout from South Africa scandal

by TJ Strydom JOHANNESBURG  - Barclays Africa and Standard Bank said on Monday they would stop working with McKinsey, a further blow to the global consultancy as it faces allegations of bribery for work done with friends of South African President Jacob Zuma. Privately-held McKinsey, the...
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