Finance

Bank of India sets up branch in South Africa

The Bank of India headquarters in Mumbai, India. (Image source: Wikicommons)

Bank of India (BoI) has opened its first branch in Johannesburg, South Africa

South African bank awarded Nigerian business license

The FirstRand group has been pursuing an aggressive investment policy in more and more new African markets. (Image source: sxc.hu)

South Africa-based Rand Merchant Bank (RMB) has secured a merchant banking licence from Nigeria which permits it to establish a corporate and investment company in the country

IMF concerned over non-repayment of debt by African countries

IMF claims Somalia and Sudan have accumulated obligations dating back to the mid-1980s, while Zimbabwe has been in arrears since 2001. (Image source: sxc.hu)

The International Monetary Fund (IMF) has expressed concern over the failure of Sudan, Somalia and Zimbabwe to honour their commitments to pay their financial debts

Rising gold prices lead Côte d’Ivoire to impose more tax on gold miners

The step was taken by Côte d’Ivoire because gold price has shown a steady increase in recent time without any benefit reaching the country. (Image source: Getty Images)

Côte d’Ivoire will impose a tax of 19 per cent on gold mine profits in an attempt to benefit from soaring world prices