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 […]
Businesses in Africa’s largest oil producer, Nigeria, are turning to solar enterprises for mini-grids and equipment as diesel prices have risen due to rising global oil prices. However, supply restrictions may hinder their capacity to profit from the trend, with some reporting that they have started to turn away consumers because they cannot satisfy demand. […]
The Board of Directors of the African Development Bank Group has approved a 121 million-Euro loan to Senegal, a country in West Africa, to implement an emergency agricultural program. The fund will help 850,000 small farmers, 35 per cent of whom are women, grow a targeted 38 million tons of additional wheat, corn, rice, soybeans […]
Zimbabwe will begin to sell gold coins later this month to tame inflation, the country’s central bank announced this week. The inflation in Zimbabwe continues to send costs soaring for everything from fuel to groceries. The country in southern Africa will begin issuing gold coins to its citizens as the local currency dramatically loses value. […]
It has been decades since Somalia has been open to international business, but on Sunday, the government of Somalia made the announcement that it has awarded banking licenses to two foreign firms. The Somali Central Bank said in a statement that the Egyptian bank Banque Misr and the Turkish bank Ziraat Katilim are the first […]
Egypt bulks up the most wheat in a tender with the biggest purchase in years amid the Russia-Ukraine war. Egypt is the world’s largest wheat importer, and the supply is subject to price changes on the global market. Egypt has taken the advantage of a recent price slump of wheat to bolster stockpiles because Russia’s […]
Kenya has signed a memorandum of understanding (MoU) with Saudi Aramco, a Saudi Arabian Oil Company, to help import refined petroleum products at lower prices than the global rates amid high gas prices. The National Oil Corporation of Kenya (NOCK) announced the news. Many towns in Kenya have been hit hard by an unprecedented fuel […]
Zimbabwe’s central bank plans to hike the interest rate, already the highest in the world, to 190% to control the soaring inflation. A member of the bank’s monetary policymaking committee (MPC) announced the news as the bank seeks to put a brake on soaring inflation. Persistence Gwanyanya, a member of the MPC, said the intention […]
According to the report, which was based on a survey of 200 sub-Saharan African business executives, the UAE invested $1.2 billion in Sub-Saharan Africa during the previous five years, or 88% of all investments made between January 2016 and July 2021. The paper, which Dubai Chamber commissioned, looked at a number of themes that changed […]
In the latest development, Kenya Airways has signed a deal with Eve Holding Inc to purchase 40 flying electric taxis. Kenya Airways will introduce these taxis through its subsidiary, Fahari Aviation. Brazilian company EVE UAM LLC will bring the Electric Vertical Take-Off and Landing (eVTOLs) aircraft to Kenya. eVTOL is an electric-powered cruise vehicle with […]
The cash-strapped government of Sudan has broken its pledges to acquire the country’s wheat harvest at more favorable prices, which has put the country’s grain at risk of being wasted. Farmer Modawi Ahmed is one of the hundreds of people who have worked to cultivate the grain as part of Al-Gezira, which is the largest […]
If the US faces a recession, real-estate tycoon Stephen Ross told Bloomberg that employees may return to work out of fear of losing their jobs. “Employers have been cautious because they don’t want to lose their employees,” Ross told Bloomberg on Friday. “But I think when you go into a recession and people worry they […]
A South African business confidence index dropped in May, reaching its lowest level since September 2020 on various factors which include lower trade volumes, higher financing costs and power cuts. The business confidence index of the South African Chamber of Commerce and Industry (SACCI) dipped to 89.3 in May from 93.7 in April, according to […]
A senior minister stated on Sunday that South Africa is more than willing to work with the CII India Business Forum (IBF) and appropriate local ministries to expand bilateral collaboration. He praised Indian enterprises for helping the country’s growth trajectory. South Africa has proposed forming a joint task force between the IBF and appropriate local […]
Tanzania has signed a framework deal with Equinor of Norway and Shell of the United Kingdom, bringing them one step closer to breaking ground on a $30 billion liquefied natural gas export project (LNG). The agreement that was made public on Saturday calls for a final investment decision to be made by 2025 and for […]
Disrupt Africa’s datasets, skills, and networks are used in the South African Startup Ecosystem Study 2022, the company’s 17th publication and second country-focused report, to detail what startups are doing in the country, who is investing, and who is providing ecosystem support. It also contains the whole list of startups studied for the report. The […]
Dr. Dare Arokoyo, until recently associate professor and provost of the School of Continuing Education at the Houndegbe North American University in Benin Republic, has written two books, or more appropriately, language communication manuals, for ECOWAS and AfCFTA business travellers and French Companion for African Economic Community. Both publications were created with the goal of […]
It should come as no surprise that buying a home is a lengthy process because it is one of the most substantial expenditures you will ever make. While it may appear intimidating at first, you won’t be venturing into unknown ground. The path is well-marked, and skilled consultants are available to assist you along the […]
A stampede killed more than 30 people in southern Nigeria on Saturday during a crowded church charity function where food was being distributed. After the disaster in Port Harcourt, in southern Rivers State, when people tried to push their way into the event, shoes and slippers were spread on the ground, according to police and […]