BUSINESS

16/4/2014

SA banks fined for lax money laundering laws

Absa, FirstRand, Nedbank and Standard Bank to pay $11.8m penalty

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Remittance fees hurt Africans, says Comic Relief By BBC | Wednesday, April 16  2014 at  15:52

A new study has shown that communities in sub-Saharan Africa are being "hurt" by high fees charged by money transfer operators like Western Union. |

Money transfer operators charge high fees

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Somalia likely to have large oil deposits - reportBy ABDULKADIR KHALIF in Mogadishu | Tuesday, April 15  2014 at  15:16

British Petroleum logo. The firm has been contracted to explore for oil along Somalia's coastline. FILE | NATION MEDIA GROUP |

British oil analyst reckons Horn of Africa state may have 10bn barrels in untapped deposits

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Telkom Kenya to go under the hammerBy JAINDI KISERO | Tuesday, April 15  2014 at  11:10

Last call? Telkom Kenya CEO Mickael Ghossein in 2013. The firm, which was once the largest employer will be sold to new investors. Once sold, Telkom Kenya will become the second mobile phone operator to exit the market this year. PHOTO | FILE |

Telco is teetering towards insolvency

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Sudan Sudan completes new oil refineryBy MACHEL AMOS in Juba | Friday, April 11  2014 at  11:36

A new refinery plant in South Sudan's Bentiu State will process 5,000 barrels per day, to provide about 70 per cent of the local fuel requirements. FILE | NATION MEDIA GROUP. |

Facility to reduce country's over-reliance on imports

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