News and economy

Telcos rush to list on the Tanzania stock market and the reality of double-digit inflation in Nigeria

Here are the trending business headlines from across Africa

This Friday marks the deadline for telecommunications companies in Tanzania to list 25% of their shares on the country’s stock exchange as mandated by government.

Uganda’s annual average headline inflation for the calendar year 2016 increased to 5.5% compared to 5.4% for 2015. Economic analysts are not very enthusiastic about the country’s prospects going into 2017.

Lead and zinc ore were Nigeria’s top solid minerals exports. Meanwhile the 18.48% inflation rate in the country is real.

Ghana’s central bank governor expects the cedi to remain stable through 2017, though the country’s inflation rate is currently above target limits.

The price of rice in Zimbabwe could rise by up to 15% if the government introduces a proposed Value Added Tax on the commodity.

Mauritius has kicked off a national small business incubation program.

Corporate news

Zambian workers have downed tools at a mine and copper processing plant belonging to Konkola Copper Mines (KCM), a unit of Vedanta Resources.

A judge has ruled South Africa’s power utility company Eskom is not constitutionally obligated to provide electricity to municipalities. This is after company moved to cut electricity to eight municipalities that haven’t settled their bills was challenged in court.

Kenya’s electricity distribution company Kenya Power CEO Ben Chumo has exited his position after serving one term.