Q3 GDP Growth Slips to 0.5% as South Africa’s Economy Slows Further: Africa newsroom update. Markets opened to a softer print as South Africa Q3 GDP edged up 0.5%. The headline says it cleanly. South Africa economic growth cooled, and the South Africa economy’s slow tag felt accurate on trading floors. Cool morning air in […]
The recent Foreign investment news in Congo showcases a recent surge of foreign investment in the mining, energy, and infrastructure sector. The Democratic Republic of Congo (DRC) has remained one of the key global supply chains as the world demands more and more cobalt, copper, and lithium. The increasing confidence of investors in the economic […]
According to the country’s petroleum department, Uganda kicked off its first oil drilling program on Tuesday. This marks a significant step forward for the nation as it works toward its goal of beginning oil production in 2025. The Kingfisher field is a component of a plan that will cost ten billion dollars to develop Uganda’s […]
The Nigerian government and Abubakar Malami, the Minister for Justice and Attorney-General of the Federation, have urged the United Kingdom high court to cancel $11 billion in damages over a failed and allegedly fraudulent gas deal. The lawyers representing Nigeria told London’s High Court that Nigeria was the victim of “a campaign of bribery and […]
Elon Musk’s Twitter is reportedly planning to fire more employees in the coming weeks. According to a report, two people at the social media firm familiar with the development have said that Twitter would lay off 50 workers from its product division. According to Insider, Twitter has adopted measures to reduce expenses. Musk can fire […]
The second richest man in the world, Elon Musk, has said that SpaceX’s huge Starship vehicle is expected to launch this year. What is Elon Musk’s Starship? Can the SpaceX company make a huge profit with the help of Starship? Musk, the CEO of SpaceX, has set another tentative deadline for the launch of Starship. […]
The shares of Kenya Airways, the flag carrier airline of Kenya, have been suspended from trading for another year from 5 January, according to a statement from the Nairobi Stock Exchange (NSE). The Kenya flag carrier has been struggling to return to profitability. The airline’s shares have been suspended from NSE since July 2020. The […]
Tesla, SpaceX and Twitter owner Elon Musk became the first person in human history to lose $200 billion in net worth. His wealth plummeted to $137 billion, according to Bloomberg Billionaire Index. Musk is also the second richest person in the world as of 2022. Reportedly, Musk’s wealth was affected due to a fall in […]
Twitter and Tesla CEO (Chief Executive Officer), Elon Musk, has said that he will not sell any more Tesla stock for the next two years. He made those comments in a Twitter Spaces audio chat. He said that the economy would be in a “serious recession” in 2023. According to him, the demand for big-ticket […]
Ghana has announced that it temporarily suspended the payment of part of its external debt as the country struggles due to an economic crisis. On Monday, the Finance Minister of Ghana, Ken Ofori-Atta, announced the suspension of all debt service payments on “certain categories” of external debt, including Eurobonds. The finance ministry said that the […]
According to the finance ministry of Ghana, the economic recovery efforts of the country could be delayed and complicated if a visiting team from the International Monetary Fund (IMF) does not agree with a negotiation of the relief package. Ghana is hoping for an IMF agreement by next week as the IMF team is set […]
Muhammadu Buhari, the President of Nigeria, has accused the governors of stealing LG (local government) funds. He has accused them of diverting allocations from the federation account. The president attended an event hosted for members of the Senior Executive Course 44 (2022) of the National Institute for Policy and Strategic Studies (NIPSS) at the Presidential […]
At the periodic conference that brought together African energy leaders, transnational investors, and directors, rama Commercial Services (https//OramaCorporate.com/), one of the gold guarantors of the African Energy Week( AEW 2022), persistently displayed its vision on” enabling ways to thrive businesses and grow successfully in Africa” for the alternate time in a row. The AEW 2022 […]
The young Djiboutian girl Aisha was watching the dispatch centre operations at the Nagad railway station in Djibouti while paying great attention to the many colourful dots and lines flashing on the screen. Aisha was a member of the first group of students to enrol at the Djibouti Luban Workshop, and she and her classmates […]
By offering enterprises trade credit insurance and trade backing results, Etihad Credit Insurance( ECI) and African Trade Insurance Agency( ATI) hope to promote marketable ties and increase exports between the two requests. The agreement builds on the Memorandum of Understanding( MoU) that each party signed in March of last time with the thing of boosting […]
The first carbon credit company in Egypt has been established by government officials, opening the door for a national carbon credit market to lower CO2 emissions. On November 6, an agreement to establish Egypt’s first organisation to issue carbon credits was signed by the Agricultural Bank of Egypt, Libra Capital, and the Egyptian Exchange Holding […]
Member nations across the Commonwealth are eager to see corporations play a bigger role in the fight against climate change in light of the growing climatic uncertainties and rising financial needs for climate adaptation and mitigation. The comment was delivered at a formal side event that the Commonwealth Secretariat, the governments of Saint Lucia, Namibia, […]
The newly amended Employment Equity (EE) Act, which gives the employment and labour minister the authority to regulate sector-specific EE targets and compliance requirements, has the potential to have a significant impact on businesses in South Africa, according to legal experts at Cliffe Dekker Hofmeyr (CDH). The newly revised EE Act will go into effect […]
According to a recent study, 23% of African firms were impacted by drought over the past year, and 39% by floods. The British International Investment’s Emerging Economies Climate Report 2022 noted that drought and water stress were the most significant in terms of worries about the physical hazards to African companies. A wide range of […]
Tanzania and China signed 15 agreements to foster bilateral trade relations between the two countries. The agreements were signed as part of the agendas during the three-day visit of the President of Tanzania, Samia Suluhu Hassan, to China. The State House spokesperson Zuhura Yunus noted that the deal primarily focused on avocado transportation, expansion of […]