Africa News
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Sanlam to Use Excess Cash for `Bolt-On' Purchases, Buybacks, Indian Growth
Sanlam Ltd., the largest South African-based insurer, said it will spend as much as 4 billion rand ($579 million) on acquisitions, share buybacks and to expand in India.
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South Africa Manufacturing Expands 1.3% in January Amid Low Interest Rates
South African manufacturing rebounded in January, expanding 1.3 percent from a year ago, as interest rates at a 30-year low helped spur consumer spending in Africa’s biggest economy.
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Kosmos Rejects Joint Cnooc, BP Bid for Jubilee Oil Field Stake, Ghana Says
Kosmos Energy LLC, the U.S.-based oil explorer focusing on West Africa, rejected a joint bid from China National Offshore Oil Corp., BP Plc and Ghana National Petroleum Corp. for its stake in the offshore Jubilee field.
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South African Gold Production Jumps Most in More Than 30 Years in January
Gold output in South Africa, the world’s fourth-largest producer of the precious metal, increased the most in more than 30 years in January as prices traded near a record high amid investors demand for alternative assets.
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