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 […]
On Thursday, African leaders convened in Abidjan, Ivory Coast, to lobby the World Bank for fresh aid plans to help them finance their economic recovery and improve access to Covid-19 vaccines. As the COVID-19 pandemic continues to put financial strains on economies, leaders are demanding $100 billion for a crucial World Bank fund that assists […]
Nissan has always appreciated the commitment of the enormous African automobile market. In Egypt, Nissan has a very agile plant and makes vehicles just for the region. Nissan manufactures three main models, and the primary objective is to capitalize on the main Egyptian market, says Mike Witfield, Managing Director for Nissan Africa, in an interview […]
The coronavirus pandemic has caused a double whammy by causing health and economic crises across Africa. It has left a lasting impact on the small and medium-sized enterprises (SMEs) of the nation. The absence of finance is the second biggest hurdle confronting SMEs hoping to extend their ventures especially in developing business sectors and nations. […]
The National Treasury in March 2021 had published a draft amendment to regulation 28 of the Pension Funds Act for public comment in South Africa. It is expected to make it simpler for retirement funds to expand interest for the people of South Africa. However, there are still queries about whether people will like to […]
As South Africa’s economy recovers from COVID-19’s detrimental impacts, high unemployment rates are being felt by the country’s municipalities all across. As per the South African Local Government Association, job losses directly are being blamed for a severe drop in collections. Presenting to parliament, Stella Mondlane of SALGA said that the high unemployment rate has […]
East Africa’s Uganda is rapidly emerging as a fintech hub. Millions of customers across the continent view the emerging facility as a great “convenience”. Consumers are cashing in on great access to financial technology offered by these mobile applications and comment on never going back to traditional banking, thus boosting Africa’s financial technology (fintech). Mobile […]
The cabinet in South Africa approved several new bills for submission to parliament. It included a proposal for legislation for workplace safety and consumer protections around housing. It was announced on March 11, that these bills would undergo the full public participation process, including an open comment period. The acting minister in the Presidency Khumbudzo […]
Rwanda’s economy is in the throes of a recession as the continent is currently in a state of crisis with Covid 19. The continent as a whole has been hit hard by the global outbreak of covid19, and the level of major government projects is declining. Africa invested. Traffic has also stopped as traffic has […]
According to the BBC, the Central Bank of Nigeria on Friday stopped banks and financial institutions from dealing with Crypto currency transactions or facilitating the exchange of Crypto currency. The government has said it is not possible for a single financial provider [Providus bank] to disrupt public payment services and get a new CBN order […]
DRDGOLD one of the world’s leading gold treatment organization has declared and recorded a strong performance in the financial sector of the organization for the past six months, this is a major boost in the gold sector. DRDGold, which possesses the Ergo and Far West Gold Recoveries (FWGR) plants, said yesterday that profit per offer […]
Popular South African pharmaceutical company, Sasol recorded major profit on the JSE in the late hours of Friday, the total profit gained by Sasol was in the excess of over R100 shares which ranks amongst the highest profit gained by the pharmaceutical company. Sasol shut 8.92 percent higher at R164.99 an offer after it said […]
The former executives of Tekkie Town are legally fighting for the ownership of the popular home accessories, both parties are set to go the distance in reclaiming the popular accessories retailer. The matter was tabled before the Western Cape High Court in South Africa. Pepkor Holdings is a Steinhoff auxiliary and it was recorded independently […]
The mining sector in South Africa is set for a whopping R300 million coronavirus vaccine rollout within the industry to reduce the spread of the coronavirus pandemic in the country. This is according to sector’s council board in South Africa. The Minerals Council, which addresses mining firms, offered its monetary and strategic help after the […]
There was a bill passed in 2020 to change the CFA franc to the Eco. This will ultimately end the centralization of the foreign exchange, that is exclusively available to countries in the West Africa region. However, since the arrangement was reached between the French government and eight nations in West Africa-no authority plan has […]
Popular bank, Nedbank has offered contactless service to collect bank cards, the customers of Nedbank can now collect their various cards either debit or credit card without the need to physically be in the bank premises. The storage spaces were at first dispatched in November 2019 with storage spaces at 46 branches, trailed by 14 […]
African Development Bank are set to launch an accelerated change initiative, the proposed budget for this initiative is around $25 billion, and it’s strictly for the continent of Africa. This initiative is to help African countries particularly with climate adaptation. The declaration came during the Climate Adaptation Summit (CAS) 2021 on Monday, facilitated by the […]
Top real estate company, Sirius Real Estate are all but set to to acquire a new business acquisition. The name of the proposed acquisition is Sigma Technopark worth the the excess of over $70 million. Furthermore, the securing expanded the size of the Titanium portfolio to €317m, almost twofold its incentive at dispatch in August […]
Several retailers in South Africa are complaining fervently, this can be majorly attributed to the impact of the coronavirus in the country and the continent at large. They have so far recorded low sales of major commodity during Christmas and the New year celebrations. Massmart proprietors of Makro and Builders Warehouse, recorded a 4 percent […]