African Perspective

E-tolls may be fairer but World Bank has doubts about future, Local Firms Pay More For Gas Than Foreign Buyers, Stocks plunge further amidst bleak economic outlook, Longhorn acquires majority stake in Law Africa Publishing, NCIC to summon Moses Kuria, Kimani Ngunjiri, FG generates N586.17bn from taxes in 90 days, Ireland exports to Kenya increase to Sh10bn, Nonexecutive directors paying double tax: your troubles may soon be over

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Safaricom to launch Uber rival taxi app service, Nigeria can earn $100bn annually from non-oil sector – Awolowo, Easing inflation gives Lesetja Kganyago a little more wiggle room, Govt scraps porting fees for mobile phone users, US, Indian refiners shun Nigeria’s oil amid outages, Poor economy fuelling protests and criticism, says ANC, Tiger says exit from Ethiopia does not signal a retreat from the rest of Africa, NNPC lost N19.43bn in April – Report

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Rotich waited for an hour to read the budget speech, BoI disburses N83.5bn to 776 enterprises in 2015, posts N44.7bn profit, World Bank Cuts 2016 Global Growth Forecast To 2.4%, Oil Hits 2016 High On Nigeria Supply Disruptions, Africa needs a skills revolution, says Dlamini-Zuma, Ramaphosa urges action as GDP shrinks, Inflation bites into house price increases, No more cuts during network maintenance, says Kenya Power, Al-Shabaab raids Ethiopian army base, South Africa terror alerts spark diplomatic tensions, Without a Cabinet, Museveni reads own budget as opposition protests

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Zambia shortlists bidders to build two large-scale solar plants
Low Cost Private School Firm Bridge International Keen On Liberia Despite Opposition
Brainworks Takes Over Nettcash Zimbabwe
Funds transfer: WorldRemit partners with MTN in Ivory Coast
KFC closes all shops in Botswana – press statement
Letshego sets up Sh16bn mortgage for low-income housing in Kenya
Chemelil Sugar Company Kenya is insolvent, says Ouko in audit report
IATA calls on Venezuela, Nigeria to release foreign airline revenues
Trade Union Congress (TUC) to acquire 57% stake in Unity Bank Nigeria
GSK Nigeria seeks shareholders approval to sell Lucozade, Ribena
Access Bank Partners Wapic, Ghana Life For Bancassurance
Ghana’s ADB Confirms Investor Refund After Rejected Share Sale
Ghana Cocobod to Start $2b Syndicated Loan Roadshow This Month
U.S. Blockchain App To Launch Public Ledger For Real Estate In Ghana
Ghana Military obtains license to operate Savings & Loans company
Mahindra mulls local assembly in South Africa
Naspers invests $60 million in online-learning company Udemy to expand global reach
Uber Starts in Uganda to Add Fourth Sub-Saharan Africa Market
Uber gets $3.5bn investment
Kibo, Lake Victoria to consolidate Tanzania projects
Angola President Appoints Daughter as Head of State Oil Firm
Majority stake sought in Moz limestone project
Germany’s DEA May Sell its Stake in Egypt Oil Fields: Mal
Helio Resource Corp and Damara Merge Namibian Interests into Osino Resources Corp
African airlines set to lose $500m in 2016
Tourists around the world spend estimated $1.2b in 2015

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We do a round up of major business stories that came from across Africa during the week between Monday 23rd to Friday 27th May 2016.

With fuel price hike, food prices go haywire in Nigeria
MMI Holdings Limited increases its stake in United Metropolitan Nigeria Life Insurance Limited to 100%
Nigeria Sees Growth of 4% in 2017 After Reforms
Lagos Consortium Agree to Construct N844 Billion 4th Mainland Bridge
Alexandria Cement ,Egypt obtains LE150m loan from HSBC
CIB,Egypt extends SPA period for CI Capital deal till June 9
Kenyan Investors Urge President, Opposition Talk on Elections
Texton buys two property portfolios in South Africa and UK
BTG Said to Seek Sale of Stake in Petrobras, SA Joint Venture
Orange, SA Said to Mull Bid for Some Millicom Assets in Africa
The South Africa Foschini Group Paid 4.4m Pounds for U.K. Chain Whistles
Botswana Government to Sell BCL Mine to Strategic Partner
Ugandan Power Distributor Umeme Seeking Funds To Invest On Network
£2bn set aside for solar energy in Africa
Banks in Ghana struggle to mobilise deposits
Development Bank says continent far from debt crisis
Relief for Kenya's Uchumi Supermarket as six suppliers agree to withdraw
KCB, Kenya Q1 net profit up 6pc as bad debts jump
AfDB Urges African Economies to Rapidly Diversify Exports
Angola Trade Balance Remains Vulnerable to Oil Prices, BMI Says

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Kenyan milk prices second highest in Africa, World Bank lauds Ghana's Prof Eric Danquah, Nigeria suspends talks with MTN, Too Late to Revive Bulawayo Textile Industry, Malawi to Have New Chileka Airport, Kia Terminal to Be Refurbished, SA’s creditworthiness under scrutiny by S&P, Nigeria faces recession as GDP shrinks,

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Ghana businesses asked to take advantage of tax reforms to maximize returns, Junior workers bleed KRA as probe targets managers, After Ebola outbreak, World Bank creates 'pandemic insurance plan', FG to set deadline for NNPC, refineries’ privatization, Government to limit farm sizes to speed up land reform, CBN disburses N55bn to 24 power firms as FG seeks improved supply

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Bank of Ghana stays policy rate at 26%, says economy turning the corner, Nigeria: Fuel Price Hike - Reps Ask NLC to Suspend Planned Strike, to Meet Labour Leaders, Rwanda opens pioneering methane electricity plant - will also reduce of natural disaster, Gauteng begins licensing Uber driver partners as company plans for new jobs from food to parcel deliveries, Organisations seek Nema approval to grow GMO crops,

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Moody’s downgrades Nigeria’s Sovereign Issuer Rating to ‘B1’, US urges Ghana not to miss out on $500m MCC compact, Gordhan confident of meeting fiscal targets, DTB raises stake in Uganda unit with Sh1.1bn injection, Kenyan MPs to vote afresh for gender Bill, Nigeria’s Manufacturing Index declines in April, South Africa's PIC to invest $4.7 billion and stimulate jobs, growth, C. African Republic’s capital exposed to severe power outage

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Nigerian Interbank rate falls on budget, treasury bill funds, Kenyan Banking industry growth stagnates as lenders go down, South Africa relaxes visa rules for Kenyan travelers, third African Islamic Finance Summit in Dar es Salam - Tanzania on May 19-20, 2016, Chase Bank clients take out Sh1.6bn in three days, Rand worst performer as commodities slump, Investment Opportunity: Ivory Coast Electricity, Water Monopoly Could Be Ending

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