Africa Business News – Read economic news today, South Africa business updates, and latest economy trends and developments.
The Democratic Republic of Congo has issued an immediate ban on the export of copper and cobalt concentrates to increase domestic processing of these strategic minerals and keep more economic value within its jurisdiction. The ban has already shocked the global metals markets, where prices on LME copper spiked 1.8% to $14,369.50 per metric ton […]
Zambia’s Kwacha and Ghana’s Cedi are both sliding against the U.S. dollar this week, and the reasons behind each currency’s slump are different enough to matter for anyone doing business — or shopping — in either country. Zambia Kwacha and Ghana Cedi slide, Commercial banks have quoted the Kwacha at 18.95 per dollar, down from […]
Silhouette, an eyewear company headquartered in Linz in Austria, is partnering with an American aspiring female astronaut Alyssa Carson for its groundbreaking Titan Minimal Art collection. Titan Minimal Art design has been the eyewear of choice worn in space for more than two decades. Silhouette International Schmied AG aims to support Carson’s dream of becoming […]
Lanre Shittu was the Chairman of Lanre Shittu Motors, a vehicle assembly plant in Nigeria. He was a successful businessman with vast experience in this field. He had several years of experience in the automobile business. He started his auto business in the early 1980s. Subsequently, he became successful because of his business skills. Lanre […]
Tech billionaire and the CEO (Chief Executive Officer) of Twitter, Elon Musk, fired a top Twitter engineer who told him he was declining in popularity on the micro-blogging site, according to a report by The Platformer. On Tuesday, Musk met with several Twitter employees to discuss his declining view count on Twitter. In a meeting, […]
Tech billionaire Elon Musk owns five companies, including Tesla, SpaceX, Twitter, The Boring Company and Neuralink. He reportedly works all day long to run these five companies. He has announced on Twitter that he works all day long. He wrote on Twitter, “I work all day, then go home & play work simulator.” He repeatedly […]
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 […]