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October, 24, 2016

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Business > Africa
It's go time for renewables in Senegal
Senegal put into service one of sub-Saharan Africa's largest solar energy projects Saturday as it pushes to become a regional player in renewables on a continent where the majority remains off-grid.
African leaders on Saturday signed a deal to boost security off the continent's economically crucial coasts, hoping to shore up development by tackling maritime crimes like piracy and smuggling.
Africa will come together to battle piracy and illegal fishing for the first time at an African Union maritime security summit that kicks off in Togo on October 15.
An Egyptian Cabinet minister says that the government is currently negotiating a US$4 billion loan with China.
World governments urge end to domestic ivory markets
In a bid to stop the killing of elephants for their tusks, world governments voted Saturday at a major conservation conference to urge the closure of all domestic ivory markets.
Africa's biggest economy is officially in recession. Nigeria released data on Wednesday showing its gross domestic product declined by 2.06 percent in the second quarter of the year. The oil- and import-dependent economy also declined by 0.36 percent in the first quarter.
South Africa's wealthy Gupta family with influential ties to President Jacob Zuma said Saturday they plan to sell all their business interests in the country by the end of the year.
Lungu faces battle to make Zambia grow again
Zambia's newly re-elected President Edgar Lungu faces an uphill battle to revive an economy reeling from a slump in copper prices, with a free-falling currency and widening budget deficit.
Egypt eyes reforms in last-ditch bid to save economy
Egypt hopes a US$12-billion financing deal with the IMF will usher in an economic turnaround but real progress hinges on a tough reform package avoided for decades to stave off unrest.
First it was falling oil prices that plagued Nigeria, then came inflation, power shortages, and a humanitarian crisis in the north.
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