What’s trending

SA’s credit rating, Nigeria and the price of crude, Kenya’s mining industry and more

Business and economy headlines from around the continent

Standard & Poor’s (S&P) is likely to affirm South Africa’s foreign currency investment grade rating and lower the country’s local currency rating, according to Old Mutual Investment Group SA. The rating agency’s decision is expected Friday.

Nigeria requires the price of crude in the mid-$50s according to Ibe Kachikwu, minister of state for petroleum resources, speaking on the sidelines of the OPEC meeting in Vienna. This even as brent crude rose above $50 per barrel after OPEC announced production cuts.

Kenya is in talks with Britain, its former colonial master, for access to geological maps of the country’s mineral resources.

Mozambique’s National Petroleum (INP) expects to sign new oil and gas prospecting contracts by early next year with the companies awarded rights to test for hydrocarbons across the country, an official said on Thursday.

The Tunisian government will sell its stakes in telecom companies Orange Tunisia and Ooredoo next year, a senior official told Reuters on Thursday.

Egypt’s total volume of trade with other country’s during the fiscal year (FY) of 2015/2016 amounted to $75.02bn, a decline of $8.54bn from FY 2014/2015, which registered $83.55bn, according to the Central Bank of Egypt (CBE).

Find this useful? Sign up for The Africa Business Daily Digest and download Africa Business App for Android or iPhone and get more!