Move Over Nigeria! South Africa’s economy regained the position of Africa’s largest in dollar terms more than two years after losing it to Nigeria as the value of the nations’ currencies moved in opposite directions.
Gas supply challenge continues in Nigeria. Royal Dutch Shell Plc said its local unit has declared force majeure on supplies to a liquefied natural gas plant in Nigeria because of a leak, potentially exacerbating a decline in exports for the OPEC member that’s suffering from militant attacks on energy infrastructure.
You can buy non-dividend paying shares. For growth companies whose expenses from growth initiatives may sometimes exceed their net earnings, paying dividend would be difficult. Other firms have even decided not to pay dividends under the principle that their reinvestment strategies will lead to greater returns for the investor.
Rural party. With swathes of urban voters in South Africa deserting the African National Congress because of anger over a lack of jobs, shoddy services and scandals surrounding President Jacob Zuma, the ruling party is counting more than ever on support in the rural areas to maintain its grip on power.
Africans shine in Stanford. “Now the boy from the streets of Nigeria has been invited by the White House for the Global Entrepreneurship Summit; that is all thanks to Stanford Seed. Isn’t that amazing?”
Ending Poverty in Africa. Development is both a means, and an end, and hence, fighting poverty must also be seen as a matter of both strategy and results.
Geothermal power in Djibouti. Toshiba Corp., the world’s biggest supplier of geothermal turbines, plans to work with the government organization responsible for developing geothermal power in Djibouti, to promote the energy source.
Stop borrowing more than you can pay. At the rate Kenya is borrowing to fund its spending, the East African nation could accumulate more debt than it can afford to repay comfortably, according to the International Monetary Fund.
The familiar foe of the South African mining industry. The National Union of Mineworkers said some of its members have started a strike about wages at Eskom Holdings SOC Ltd.’s power plants over frustration at negotiations with the South African state-owned utility.
Chinese help needed here. South Sudan said it’s seeking a $1.9 billion loan from China to develop its oilfields and roads, as the war-torn African country battles inflation that exceeded 660 percent last month.