Commodities

Tiger Brands’ Nigerian arm hit by naira weakness

Posted on by The Editorial Team
Tiger Brands’ Nigerian arm hit by naira weakness

Johannesburg, South Africa (Capital Markets in Africa):- – Tiger Brands, South Africa’s biggest consumer foods manufacturer, reported flat first-half earnings on Wednesday, weighed down by its operations in Nigeria. Tiger Brands, which makes cereal, energy drinks, pasta and rice, said diluted headline earnings per share fell by 1 percent to 837 cents in the six months ended March. Headline earnings per share is the main profit gauge in South Africa that strips out certain one-off items. Sales…

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Cameroon cocoa exports up 24 pct y/y in April

Posted on by The Editorial Team
Cameroon cocoa exports up 24 pct y/y in April

Younde, (Capital Markets in Africa):- Cameroon cocoa exports jumped 24 percent to 181,893 tonnes year-on-year by end-April since the start of the 2014/15 season on Aug. 1, data from the sector’s regulator showed on Tuesday. Statistics from the National Cocoa and Coffee Board (NCCB) showed that Africa’s fourth biggest grower shipped 4,384 tonnes of cocoa beans in April, down from 10,810 tonnes in March. But exports rose slightly, compared with 3,043 tonnes exported during the same…

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EU lawmakers seek ban on “blood metals” in surprise vote

Posted on by The Editorial Team
EU lawmakers seek ban on “blood metals” in surprise vote

By Robin Emmott BRUSSELS (Reuters) – The European Parliament voted on Wednesday to ban all products that contain “blood metals” sold by African warlords, but the legislation is likely to be blocked by EU governments who fear it would impose an unrealistic burden on business. The surprise result marked a defeat for the pro-business European People’s Party (EPP), the parliament’s biggest grouping, who need fellow centrist allies to pass laws following last year’s EU elections…

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