Africa Business News – Read economic news today, South Africa business updates, and latest economy trends and developments.
The issue of high fuel costs impacts each African family, from the matatu transport charges in Nairobi to the electricity generator diesel in Lagos. While news has it that oil price fell by 3%, Asian trading Monday morning saw oil price falling by a margin of 1.4%. What Actually Happened Prices of Brent Crude futures […]
In villages from Kampala to Kigali, the sound of a drum being carved or raffia being pulled tight is getting quieter. Africa’s Vanishing Crafts are not fading in one dramatic moment but one retiring elder at a time, often with no apprentice standing nearby to take over. The question is no longer whether African traditional […]
Nigeria is currently experiencing fuel shortages and long queues at filling stations in major cities after President Bola Tinubu announced the removal of fuel subsidies in his inaugural speech. Many filling stations have either closed or are selling fuel above the approved pump price, causing frustration among customers. Panic buying and increased prices have been […]
Twitter, an American social media company based in San Francisco, is in the limelight due to a lawsuit. Twitter’s former PR (public relations) firm has sued the social media company over unpaid bills. As per a Reuters article, Joele Frank, a leading PR firm, has filed a lawsuit against Twitter. The public relations company claimed […]
Elon Musk has named Linda Yaccarino, an American media executive, as the new CEO (Chief Executive Officer) of the micro-blogging social networking site Twitter. She is set to take over from billionaire Elon Musk as Twitter CEO in the coming weeks. She would oversee business operations at Twitter. Musk claimed that she would start her […]
Nigeria, an African country in the Gulf of Guinea, is famous for its natural landmarks and wildlife reserves. Cross River National Park and Yankari National Park are famous places in Nigeria. Do you want to take a Nigerian Visa? Application for Nigerian Visa on Arrival Program can now be completed online. How Long Does it […]
Dropshipping is a type of business in which the seller sells products on their website without keeping stock on hand. It allows entrepreneurs to ship products to a third party. When an order is received, the third party sends those orders to the entrepreneur or company to ship the products directly to the buyer. In […]
Elon Musk, the tech billionaire and the CEO (Chief Executive Officer) of Twitter, has said that the micro-blogging platform will allow users to charge for access to their content from their long-form text and hours-long video. On Thursday, the world’s second-richest person said that Twitter won’t be keeping any of the money users make from […]
Nigeria is getting ready to get rid of its expensive gasoline subsidies in June. The World Bank has given the country $800 million so it can keep its national social program going. The largest economy in Africa has allotted 3.36 trillion naira, which is equivalent to $7.3 billion, for petrol subsidies, and these subsidies will […]
McDonald’s Corp, an American multinational fast food chain, will temporarily shut down its US (United States) offices this week as the company plans to lay off employees. According to reports and various sources, Burger chain McDonald’s Corp informs corporate employees about the layoffs. The leading global foodservice retailer asked some of its foreign and US […]
Small banks are expected to have a drop of 2% in their Tier 1 capital requirements under the Basel III rules, according to the figures from the latest Basel Committee on Banking Supervision, which is the primary global standard organisation for the prudential regulation of banks. According to the Basel Committee on Banking Supervision, the […]
Black Friday is a term used for the Friday following Thanksgiving in the United States (US). Black Friday often falls in November. Several countries across the world support Black Friday. It marks the start of the Christmas shopping season and stores give bumper discounts to customers. More than 130 countries celebrate their own versions of […]
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. […]