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March 24, 2017

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Business > Africa
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.
 
Kenya Airways, the 'Pride of Africa,' tries to stop long fall
When Kenya Airways published the country's worst-ever corporate results last month, the scale of the loss revealed the effects of several disastrous decisions that the national carrier is struggling to reverse.
 
Egypt wineries struggle to revive derided industry
Men and women harvest Merlot grapes under the scorching sun in one of Egypt's up-and-coming vineyards, as the Muslim-majority desert country strives to win over international wine connoisseurs.
 
Elderly women risk lives crushing rock for money in Cameroon
MAROUA, Cameroon -- In a northern Cameroon town menaced by food insecurity and suicide bombers, women as old as 85 are spending long, grueling days crushing rocks into gravel to earn a living.
 
Nigeria's President Muhammadu Buhari on Thursday said the government was in talks with oil rebels whose attacks have hit production, as the head of the state-run energy firm laid bare damage to the sector.
 
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