Business

Ghana reached a major milestone on October 4, 2017 after using US$200 million of its oil and gas resources from a Sinking Fund account as well as proceeds from previous Bond issues to “buyback” or redeem the last instalment of the 10-year Sovereign Bond issued in 2007.

Tullow Oil plc (Tullow) has acquired 90% stakes in four onshore blocks in Côte d’Ivoire. Petroci, the national oil company of Côte d’Ivoire, holds the remaining 10%. The four blocks - CI 518, CI519, CI301 and CI302 – cover 5,035 square kilometres and located on the coastline of Côte d’Ivoire mostly to the west of Abidjan.

Comsol, a telecommunications company backed by Nedbank, the Industrial Development Corporation and Andile Ngcaba’s Convergence Partners, will launch the first fifth-generation (5G) network in South Africa next month. The company, based in Midrand in Johannesburg, will launch a trial 5G network, with live customers, in partnership with Internet service providers with a view to launching a commercial 5G network thereafter. Several high sites will be used for the trial, which will take place in Gauteng.

Sudan has for the first time in 20 years begun receiving foreign currency inflows, the central bank said on Wednesday, days after the U.S. government lifted decades-old trade sanctions on the northern African country.

The International Monetary Fund cut its South African economic growth forecast for this year on Tuesday, saying rising political uncertainty has dented consumer and business confidence.

Major Japanese steelmaker Kobe Steel said it has systematically fabricated inspection data for aluminium and copper products that may have gone to around 200 clients, reportedly including Toyota.

An International Monetary Fund (IMF) mission led by Dan Ghura visited Abidjan from September 19 to October 3, 2017 to hold discussions on the second review of the three-year economic and financial program supported by the IMF through arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF).

Wits University will not be renewing its contracts with audit firm KPMG, which are set to lapse at the end of the year.

Nissan will recall 1.2 million vehicles in Japan after regulators said safety checks did not meet domestic requirements.

More than two million birds have died or have been culled since an outbreak of highly pathogenic avian influenza  - or bird flu - was confirmed in the Western Cape in August, Economic Opportunities MEC Alan Winde said on Monday.