Africa Business News – Read economic news today, South Africa business updates, and latest economy trends and developments.
Governments in Africa have been implementing measures to increase revenue collection through tax reforms and business regulations. This week, governments in Kenya, Tanzania, and South Africa released important policy updates for businesses and taxpayers. Africa Tax News, The policy announcements, ranging from fuel VAT relief in Kenya, Digital Services Tax update in Tanzania, to tighter […]
Africa’s startup environment continues to evolve in 2026 with the coming of new initiatives like grants, incubation, tax breaks, and entrepreneurship schemes targeting youths. African startup government support, While different countries improve support for innovators, Kenya, Egypt, Nigeria, and South Africa remain the leaders of the continent for entrepreneurs due to their well-established startup ecosystems […]
South Africa Emerges as the New Leader : In a significant turn of events, South Africa has surpassed Egypt and Nigeria to become the new leading economy in Africa. This shift in the ranking reflects South Africa’s relative stability, improved energy supply, and efforts to address logistical challenges. These factors have contributed to its resurgence […]
Comilog, the global leader in manganese production, has long faced criticism for its practice of dumping manganese sludge and residues into a river. However, the company has made significant efforts to address these concerns by implementing less polluting modern laundries and investing in social services in the town of Moanda, located in southeastern Gabon. Under […]
Nigerians are increasingly adopting Starlink, a satellite internet service provided by SpaceX. Over the past four months, Space X has managed to attract 500,000 new users in Nigeria, indicating a growing interest in the technology. The CEO of Space, in an interview with Legit.ng, stated that Nigerians are now shifting away from other traditional networks […]
In a move to bolster the cocoa industry, the Ivory Coast has announced a substantial 50% increase in the official selling price of cocoa. Within a few days, the price per kilogram will rise from 1,000 to 1,500 CFA francs, equivalent to $2.47, as reported by anonymous export companies. Sources reveal that this decision was […]
Canal+, a French company and subsidiary of Vivendi under Vincent Bolloré’s ownership, is reinforcing its presence in the African audiovisual industry. The company has acquired a minority stake in Senegalese production company Marodi TV, with which it had already been broadcasting a catalogue of TV series in West Africa. Marodi TV has gained immense popularity […]
In a significant legal development, a New York court has handed down a 25-year prison sentence to Sam Bankman-Fried in the United States of America. The verdict comes after Sam Bankman-Fried, a prominent figure in the world of cryptocurrencies, was found guilty of orchestrating a massive fraud and engaging in a wide-ranging conspiracy that targeted […]
The bamboo industry is experiencing remarkable growth in Uganda, opening up a host of enticing economic opportunities. Recognizing the immense potential of this resilient and rapid-growing plant, the government is actively promoting its cultivation. Local authorities emphasize bamboo’s value as a renewable fuel source in rural communities, alleviating pressure on diminishing forest reserves primarily composed […]
The Egyptian government implemented a fuel price hike on Friday, further exacerbating inflationary pressures on an already struggling population. The announcement of the new prices was made through the government’s official Facebook page and took effect on Friday morning. The price of diesel, which is the primary fuel used for transportation of people and goods, […]
Migration Concerns and Regional Stability The European Union (EU) has announced a significant partnership worth €7.4 billion with Egypt, with a particular focus on energy and migration. However, this agreement has raised concerns among human rights advocates who worry about the potential implications of economic pressure and regional instability, which could lead to increased migration […]
Ghana is still a thriving center for economic prospects and entrepreneurship in West Africa as of 2024. A rising economy, better infrastructure, and a stable political climate make the nation an ideal place for a variety of enterprises to flourish. Including technology and agribusiness, these are Ghana’s top 10 most lucrative companies in 2024: 1. […]
Zambian President Hakainde Hichilema has declared a state of national disaster and emergency due to a devastating drought that has engulfed the country. Currently, 84 out of 116 districts in Zambia are experiencing severe drought conditions, causing immense hardships for the agricultural sector and food security. The usual rainy season, which typically extends from October […]
Mobile internet is one of the most important drivers of digital transformation and economic development in Africa. With the increasing adoption of smartphones and the expansion of network infrastructure, more and more Africans are accessing the internet through their mobile devices. However, the speed and quality of mobile internet vary widely across the continent, depending […]
The World Trade Organization (WTO) has issued a call for collective action in response to economic uncertainties and geopolitical tensions. Against the backdrop of crucial upcoming elections worldwide, the WTO Director-General addressed these pressing issues at the ongoing biennial event in the United Arab Emirates. Acknowledging the complexity of the current global landscape, the WTO […]
Africa is a continent with diverse economic and social conditions, which are reflected in the different tax systems and rates that each country adopts. Taxation is a key tool for governments to raise revenue, provide public services, redistribute income, and influence economic behavior. However, taxation also poses challenges and trade-offs, such as balancing efficiency and […]
While losing or having your ATM card stolen might be upsetting, blocking the card right away can stop someone else from accessing your money without authorization. Banks in Nigeria give their clients many ways to promptly stop their ATM cards if they are lost or stolen. This comprehensive tutorial will assist you in disabling your […]
China, the world’s second-largest economy and Africa’s largest trading partner, has been facing increasing pressure and challenges in its business operations and investments in Africa, due to the ongoing crisis in the Red Sea. The Red Sea, a strategic waterway that connects Asia, Africa, and Europe, has been the scene of frequent attacks and threats […]
Nigeria is currently grappling with one of its most severe economic crises in history. The inflation rate continues to rise, and the local currency has reached its lowest value. In response to poor governance and skyrocketing food prices, residents of Ibadan have taken to the streets to express their frustration. The devaluation of the naira […]
Africa is a continent of immense opportunities and challenges, with a population of over 1.3 billion people and a GDP of over $2.6 trillion. The continent is home to some of the fastest-growing and most dynamic economies in the world, as well as some of the most diverse and vibrant cultures and societies. Africa is […]