Kenyan electric cable maker East African Cables (EAC) said its net profit grew 66% last year to KES 522.1mn (EUR mn), driven up by higher exports, production efficiency, lower costs, more stable regional currencies and improved earnings performance of its Tanzanian unit. The companys revenue fell 14% y/y to KES 4.3bn due to reduced activity with the local utilities and a decline in London Metal Exchange prices. EAC, which is listed on the Nairobi Securities Exchange, is majority-owned by Kenyan infrastructure-focused investment firm TransCentury. |
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more