WHO to warn customers over Sandoz drugs

The generic drugs arm of Novartis risks losing World Health Organisation authorisation to sell some of its antibiotics after regulators identified manufacturing problems at one of its South African factories

• Novartis signals interest in takeovers
• Merck sells generics unit to Mylan for €4.9bn

FT Alphaville: ArcelorMittal to buy out SA minorities

Steel group to pay $5bn for full control

• ArcelorMittal poised to trim output
• Mittal sees crunch effects abating

Diversity cushions Investec from turmoil

South African bank expects to report first-half operating profits in line with last year’s results as loans, deposits and assets under management see 10 to 15 per cent growth

Nigerian militants threaten attack

Plans to target deepwater oil vessels belonging to Royal Dutch Shell and Chevron raise fears that the upsurge in fighting could put multi-billion dollar investments at risk

Central Rand wins ‘new order’ rights

London explorer poised to move centre stage of South African gold mining after it won government approval to revive a swathe of gold mines in the Jo’burg area

Total buys stake in Madagascar oil field

The French oil company on Wednesday continued its acquisition spree of oil fields, venturing into Madagascar in a deal that could eventually become the island nation’s biggest investment

Fund targets bypassed African entrepreneurs

GroFin is set to launch a $150m fund that aims to plug a financing gap aimed at entrepreneurs who have been bypassed by the surge in investment on the continent.

Groupe Bolloré plans African expansion

A fresh brand for African operations will help the group compete in an environment where competition is intensifying at a phenomenal rate