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 […]
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 […]
Kola Adesina, group managing director of Sahara Power Group, has estimated that it will take around five years for African nations to invest an average of $40 billion in their power grids in order to provide stable electricity to their citizens. According to forecasts, there would be a rise in energy consumption throughout Africa in […]
When you run an eCommerce business, logistics may be a real pain, especially if you need to manage various delivery locations and riders. Given how crucial order fulfilment is to your clients, you should make sure you have everything under control and that it generates favourable evaluations. Renda is a startup that assists African small- […]
In order to provide end-to-end traceability in the agricultural supply chain, TraceX Technologies, a blockchain-powered traceability technology that improves food and supply chain transparency, has entered the African market in partnership with Ghana-based Univision. TraceX and Univision’s collaboration will enable the unification of the whole agricultural sector into a single platform. All participants in the […]
Nicole Roos has been elected by Nestlé to follow Bruno Olierhoek, whose tenure ends on October 31, 2022, as the Managing Director for the East and Southern Africa Region (ESAR), which is based in Johannesburg, South Africa. Olierhoek, who has been the region’s Chairman and Managing Director since 2018, will transition to a new position […]
After three days of conferences, masterclasses, and networking sessions, the 5th edition of the Youth Connect Summit came to a close in Kigali, Rwanda, on Saturday, October 15th. At the event, thousands of young leaders and innovators from all over the world came together to talk about the different ways that young people on the […]
In an effort to shore up declining foreign reserves in one of Africa’s main economies, Ethiopia has ordered banks to withhold foreign currency from businesses that are importing non-priority commodities. This move was made in response to a growing trade deficit. Since companies are required to register with banks in order to get the foreign […]
The MENA region’s e-commerce industry has entered a period of stability and rapid expansion, offering more chances for e-commerce businesses. Data from the report Digital Transformation in MENA 2022 by Checkout.com, a global leader in payment solutions, shows that the pandemic-accelerated e-commerce trends are here to stay. More than 15,500 consumers across the Middle East […]
It is widely acknowledged that SMMEs are crucial to the African economy. Eight out of every ten Africans, according to the Centre for Strategic and International Studies, work for a micro, small, or medium-sized business of some form. In the past, economists have downplayed the role that services play in fostering economic growth and employment […]
The biometrics start-up iiDENTIFii in South Africa has raised $15 million in expansion financing. The Dutch Entrepreneurial Development Bank, Norfund, Rabobank Partnerships, and African investment firm Arise were among the round’s key investors (FMO). The largest African series A in the identity verification sector to yet is this one. The company iiDENTIFii is regarded as […]
The 9th “Southern Africa Europe CEO Dialogue” will bring together some of Africa’s and Europe’s top business figures in Johannesburg in November to discuss strategic economic links and look into collaborative investment potential in priority sectors. The European House – Ambrosetti (the top private think tank in Italy, fourth in Europe, and among the top […]
The optimal production and utilization of the estimated 125.5 billion barrels of crude oil and 620 trillion cubic feet of gas reserves on the continent is essential for ensuring that everyone has access to energy. Africa’s national oil corporations (NOCs) have a crucial role to play in this process. In this regard, the African Energy […]
Onyebuchi Ajufo has been appointed as a partner in charge of Hudson Sandler, global strategic communications and ESG consultancy, for West Africa’s business. The appointment reflects Sandler’s consistent growth in Africa, driven by flagship offices in Nigeria and Kenya. Hudson Sandler Africa has overgrown over the last two years. It is providing international consulting services […]
According to a Japanese government poll presented to attendees at the eighth Tokyo International Conference on African Development (TICAD 8) in Tunis last weekend, the anticipated explosion of Japanese investment in Africa remained more of a pipe dream than a reality. TICAD is the main economic and diplomatic forum for Japanese involvement with Africa. It […]
Although extremely advanced conversations are being held with at least two partners, according to Africa’s public health ministry, the continent of 1.3 billion people still lacks even a single dosage of the monkeypox vaccine. Ahmed Ogwell, the acting director of the Africa Centers for Disease Control and Prevention, told the media on Thursday that he […]
To safeguard its commercial interests, China is allegedly enlisting retired members of the People’s Liberation Army (PLA) as covert security contractors throughout Africa. China’s involvement in commerce and investment in Africa at the start of the twenty-first century was essentially nonexistent. It became Africa’s largest commercial partner in 2009, surpassing the US, and by 2020, […]
A $200 billion trust fund has been established for the preservation of the approximately 8,600 protected areas encompassing 26 million square kilometers in Africa. Conservationists have urged international aid for it. One of the numerous outcomes of the African Protected Areas Congress was the trust. It was the first time that African leaders, people, and […]