Nigeria’s Central Banks Restricts Dividend Pay-Out By Banks

Nigeria’s Central Bank Restricts Dividend Pay-Out By Banks In a move that suggests continued weak economic growth and to curtail lack of transparency in financial reporting, the Central Bank of Nigeria (CBN) has just issued new guidelines to all banks including Deposit Money Banks (DMBs) and Discount Houses (DHs), on internal capital generation and dividend pay-out…

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Optimism and Unaddressed Challenges After AU Summit

Optimism and Unaddressed Challenges After AU Summit by Ahmedou Ould-Abdallah   Those concerned about the current and future state of their countries were optimistic that the now-concluded African Union (AU) Summit would result in a successful push towards achieving the goals of socio-economic development on the continent. Such high expectations were dampened by the fatigue born out of the…

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What Do You Know About African Refiners Conference Holding March 12-16?

Major changes and hard decisions facing the downstream oil industry in Africa are high on the agenda of the African Refiners and Distributors Association (ARA), which will hold its thirteenth yearly conference, in Cape Town, from March 12 to 16. Amid oil companies’ divestment of assets and the emergence of international oil traders and foreign companies willing to invest in the infrastructure involved in the…

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Burkina Faso’s $1bn Manganese Project Seeks New Partners

 Burkina Faso is looking for a new partner to mine the world’s largest manganese deposit after rights disputes thwarted two earlier attempts to develop the $1-billion project. Pan African Minerals, a unit of Timis Mining, was told to stop production at the Tambao mine in 2015 following a change in leadership in the West African nation. The company then petitioned the International…

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Rwanda Targets $2bn Investments for 50 Mining Licenses in 2018

 Rwanda will issue 50 new licences to mine metals including gold, tin and tantalum this year that may help boost investment in the East African nation by a fifth, the Rwanda Development Board said. The state-run board expects to attract $2-billion of investment in 2018, compared with $1.67-billion last year, CEO Clare Akamanzi said in an interview in the capital, Kigali. It’s…

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Debt & Political Risks: Glencore Is Mortgaging the Future of Africa’s ‘Oil-Cursed’ Countries

Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2-billion from merchants such as Trafigura and Glencore but now finding its debt levels unsustainable, sources familiar with the matter said. Trading houses regularly lend money to resource-rich clients in financial distress – be it countries such as Congo, Chad, Morocco or Iraq‘s Kurdistan region…

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