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Inflation jumps, Mboweni warns of austerity

26th March 2008 South Africa's central bank Governor Tito Mboweni warned consumers on Wednesday to "tighten their belts" as the targeted inflation measure reached a five-year high. CPIX inflation rose to 9,4 percent year-on-year in February from 8,8 percent in January, further away from the 3 to... 

Eskom finances could deteriorate without tariff hike

25th March 2008 South Africa power utility Eskom's finances could deteriorate badly if it is not allowed to further raise its tariffs, jeopardising its ability to raise capital, Public Enterprises Minister Alec Erwin said on Tuesday. The government last Thursday backed Eskom's quest to raise... 

Vodafone denies in talks with MTN

25th March 2008 Britain's Vodafone Group denied on Tuesday a report it had had discussions with South African-based mobile phone group MTN about acquiring a stake in its international operations. "We have had no contact," a Vodafone spokesperson told Reuters. South Africa's Sunday Times... 

Mozambique targets 8% GDP growth in 2008

25th March 2008 Mozambique wants to attract investment in agriculture and tourism to help it reach an 8 percent economic growth target in 2008, up from an earlier projected 7 percent, Finance Minister Manuel Chang said on Monday. The African state was one of the poorest nations in the world at the end of a... 

Doha trade talks closer to deal than ever - Brazil

25th March 2008 The Doha round of global trade talks is close to reaching an accord in principle on industrial tariffs and farm subsidies and quotas, Brazil's chief trade negotiator said on Monday. "We're closer to an agreement than ever before," Robert Azevedo told Reuters. "It is... 

Long road ahead before African biofuels take off

20th March 2008 Africa has potential to become a major exporter of biofuels, but investors must factor in a need for costly new infrastructure and overcome red tape before the sector takes off, a biofuels expert said on Thursday. Meghan Sapp, MD of Brussels-based HG Consulting, told a conference that southern... 

Tanzania inflation rises in Feb due to food costs

19th March 2008 Tanzania's annual inflation rose slightly to 8.9 percent in February from 8.6 percent in January, due to higher food prices, the National Bureau of Statistics said on Wednesday. 

Companies tender for share in Zambia's Maamba mine

19th March 2008 Thirty foreign and local companies have tendered for shares in Zambia's major coal supplier to its copper mines, a senior industry official said on Wednesday. Joseph Chikolwa, chief executive officer of ZCCM Investments Holdings, which wholly owns the Maamba Collieries Ltd mine, said... 

Mboweni warns on growth, inflation

19th March 2008 South Africa's economy will slow in 2008 although local banks are coping well and there is no cause for alarm, central bank Governor Tito Mboweni said on Wednesday. He also said a weaker rand currency would, over time, help to narrow the current account deficit - which stood at a hefty 7,5... 

PetroSA raises Coega forecast

18th March 2008 South Africa's state-owned PetroSA expects its Coega oil refinery project to run 250 000 barrels per day, up from a previous 200 000 bpd forecast, a senior official said on Tuesday. "Moving from 200 [000] to 250 000 (bpd) is really not costing you a lot, so this is now the base... 


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