MTN Group Ltd., Africa’s largest wireless operator, said full-year profit increased 27 percent, exceeding estimates, after the South African rand weakened and subscriber numbers rose across its 22 markets.
Armajaro Trading Ltd.’s cocoa supplier in Ivory Coast, the world’s largest producer of the beans used to make chocolate, said it received funds to pay premiums owed to farmers by the London-based trader.
The World Bank’s private lending arm said it received assurances that Armajaro Trading Ltd., in which it previously held a stake, provided evidence it paid premiums for cocoa beans owed to farmers in top grower Ivory Coast.
Ivory Coast’s decision to suspend Ecom Agroindstrial Corp. from daily crop auctions is threatening the company’s planned purchase of Armajaro Trading Ltd., according to a letter to the nation’s coffee and cocoa regulator.
Sugar fell for the first time this week in New York as traders took profits before the return of rains to growing areas of leading producer Brazil, where dryness threatens to cut this year’s crop. Coffee slid.