Suspected bandits lay explosives on Nigerian road, causing damage

By Camillus Eboh ABUJA (Reuters) – A gang of armed men planted explosives along the Dansadau-Gusau road in northwest Nigeria’s Zamfara state, causing significant damage and casualties, a military spokesperson and witnesses said on Wednesday. Armed gangs in northwest Nigeria, known by locals as bandits, have escalated their attacks, resorting to a dangerous new tactic …

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Climate Investment Funds board backs $500 million Ethiopia nature plan

By Simon Jessop LONDON (Reuters) – Multilateral lender Climate Investment Funds will back a $500 million plan to help drought-prone Ethiopia restore degraded land, protect its forests and bolster food security, it said on Wednesday. CIF’s board said it had agreed a $37 million investment from its Nature, People, and Climate programme that it expects …

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StanChart sets $200 billion new wealth assets target, focuses on Chinese and Indian wealthy

By Lawrence White and Selena Li LONDON/HONG KONG (Reuters) – Standard Chartered (StanChart) will target $200 billion in new assets and double-digit growth in income from its wealth business over the next five years, as part of its wider strategy to shift to higher fee-earning businesses. The Asia-focussed bank wants to expand in serving wealthy …

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South African coal miner Exxaro suspends CEO, opens governance probe

(Reuters) – South African coal miner Exxaro Resources said on Wednesday its board had placed CEO Nombasa Tsengwa on “precautionary suspension” pending an independent probe “into allegations related to workplace conduct and governance practice”. “The Board takes any such allegations and resultant investigations very seriously but makes no presumption as to its conclusion. The company …

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South African rand weakens on risk-off mood from South Korea uncertainty

JOHANNESBURG (Reuters) -South Africa’s rand slipped on Wednesday as growing tensions in South Korea drove investors to the safe-haven dollar, while markets awaited clues on the interest-rate path of the world’s biggest economy. At 1500 GMT, the rand traded at 18.13 against the U.S. dollar, around 0.3% weaker than its previous close. “Geopolitical tensions sourcing …

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China’s duty-free access for poor African states kicks in as Biden tours Angola

NAIROBI (Reuters) – China’s zero-tariff access for Africa’s least developed countries kicked in this week, a senior Chinese diplomat said, just as U.S. President Joe Biden visits Angola. WHY IT’S IMPORTANT China and the United States have jostled for influence in Africa, with the former lending billions of dollars via its Belt and Road Initiative, …

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