African Development Bank News
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Actis LLP, a private-equity company, will lead investment of as much as $1.5 billion in African commercial property to meet rising demand from international companies targeting a growing middle class.
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Zimbabwe will agree to the terms of an International Monetary Fund program to settle its $10.7 billion debt and become eligible for new external borrowing, Finance Minister Tendai Biti said.
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Niger’s economy may grow about 10 percent this year as the government overcomes the security threat posed by Islamist militants, Central Bank of West African States Governor Tiemoko Meyliet Kone said.
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The Aga Khan Fund for Economic Development will withdraw from Air Cote d’Ivoire as other investors in the state carrier of Ivory Coast increase the company’s stock, airline General Director Rene Decurey said.
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Mining companies may invest 33 percent less than previously estimated in Guinea this year because of a drop in worldwide commodity prices, the West African nation’s finance minister said.
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The following is a selection of the most important news affecting the oil market.
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South African Finance Minister Pravin Gordhan said he’s disappointed by this week’s economic growth data as he had expected a weaker rand to help boost manufacturing.
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West Texas Intermediate crude slid near a four-week low, headed for a second month of declines, as investors bet signs of continued U.S. economic growth will strengthen the case for reduced stimulus.
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The Democratic Republic of Congo will be ready to build the 4,800 megawatt Inga III hydroelectric plant by 2015, after two failed attempts to kick-start the $12 billion project, Minister of Energy Bruno Kapandji said.
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Morocco’s economic growth may accelerate to about 5 percent this year, driven by a bumper harvest, Finance Minister Nizar Baraka said.
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