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Mwana Africa’s Chinese non-exec sells shares, as court puts on hold proceedings on his petition

Mwana Africa’s Chinese non-exec sells shares, as court puts on hold proceedings on his petition

Mwana Africa (LON:MWA) has told investors that non-executive director Ning Yat Hoi and China International Mining Group Corporation (CIMGC) have disposed of around half their shareholdings. In a stock market statement Mwana said that Ning and CIMGC had sold 81.4mln and 106.2mln shares respectively at a price of 1.8p per…

South Africa faces backlash over xenophobic attacks on migrant workers

South Africa faces backlash over xenophobic attacks on migrant workers

South Africa is facing a backlash from the rest of the continent over the targeting of immigrants in a wave of xenophobic violence. South African vehicles were pelted with stones in Mozambique on Friday and South African companies are reportedly being threatened with closure in Nigeria. Protests have been held…

Mwana Africa makes progress on cutting costs as gold production increases

Mwana Africa makes progress on cutting costs as gold production increases

Mwana Africa (LON:MWA) made steady progress at its gold, nickel and diamond producing assets in the first quarter of 2015. At the Freda Rebecca gold mine in Zimbabwe, gold production increased quarter-on-quarter by 0.42% to 14,358 ounces, as the recovery rate increased to 83% from 78%. The need to work…

Caledonia Mining continues churning out dividends

Caledonia Mining continues churning out dividends

Caledonia Mining Corporation (LON:CMCL) continues to belie the reputation of AIM-listed mining companies by churning out the dividends. The Canadian company has declared its sixth quarterly dividend, worth 1.5 Canadian cents per share. The ex-dividend date will be April 16, 2015 and for those shareholders who still receive their divis…

Africa’s inequality linked to billions hidden in Europe

Africa’s inequality linked to billions hidden in Europe

Reports of clandestine monies from African countries stashed in a Swiss bank have grabbed international news headlines according to the East African. Secret bank accounts in the HSBC’s Swiss private banking arm unearthed this year by the International Consortium of Investigative Journalists (ICIJ) were said to hold over USD 100bn,…

Bond coins or not: once an economy dollarizes there is just no going back, history seems to suggest

Bond coins or not: once an economy dollarizes there is just no going back, history seems to suggest

February 2015 will mark six years since Zimbabwe adopted the multi-currency monetary system, commonly referred to as dollarization. The move was in response to the chaotic hyperinflationary period that had defined the Zimbabwean economic environment for almost a decade prior to February 2009. Most Zimbabweans still are haunted by the…