Business

Zimbabwe, without its own currency for a decade, took steps to address its worsening economic crisis by allowing its surrogate currency, bond notes, and electronic funds to float freely against other major currencies, abandoning an official but artificial parity with the dollar.

South Africa’s government faces a tough balancing act as it tries to attract foreign investors into the key mining sector while also pledging to seize land without paying compensation.

Africa is facing a looming debt crisis, say leading development economists."Almost 40% of sub-Saharan African countries are in danger of slipping into a major debt crisis" according to the Overseas Development Institute, ahead of a major conference on debt being held in London this week.

Avocado on toast, in a salad or a smoothie? There are many ways to eat the green fruit which is popular with hipsters across the world - a craze that Kenya is cashing in on.

LONDON. Oil prices fell on Tuesday after Washington granted sanctions exemptions to top buyers of Iranian oil, lifting supply concerns and turning the market’s focus to worries that an economic slowdown may curb fuel demand.

HARARE- Zimbabwe will announce in two weeks the successful bidders for assets owned by state-owned mining company ZMDC, including gold mines, the mines minister said on Monday, adding more companies would be put on sale at the end of November.

LAGOS - HSBC and UBS have closed their offices in Nigeria, the country’s central bank said in a report on Friday as it revealed foreign investment had fallen sharply from a year ago.

Harare - Australian-listed Invictus Energy said on Friday it had not found oil and gas deposits in northern Zimbabwe but there were indications of a "working petroleum system" which could only be confirmed by a planned exploration well.

KAMPALA -Uganda said on Friday it expects to finalise a $2.2 billion loan deal with China’s Exim bank by the end of the year to pay for part of a railway line to connect Kenya’s Mombasa seaport with Kampala.

LUSAKA - Power supply to some mines in Africa’s second-biggest copper producer was cut due to a technical fault, Zambian state power firm Zesco said on Friday.