The International Finance Corporation gives Raxio Group $100 million to accelerate their data center building efforts throughout Sub-Saharan African regions. Raxio plans to quickly open data centers across Africa twice as fast during next three…
Business: Telkom shares are snubbed for cash proposal
Telkom investors have snubbed the board’s request for a regularly occurring authority in the issuance of shares in the telecoms corporation for cash on the grounds the pass could dilute current shareholding structure. The shareholders…
Business: Payments for UIF Covid-19 TERS were again…
The payments for the new and high-quality applications for the Covid-19 TERS remedy benefits have been halted while the Department of Employment and Labour and the Unemployment Insurance Fund (UIF) improve controls as urged by…
Business: Nigeria- Ghana Trade Tensions
Kenya's hospitals are seeing 50-60% fewer medical institution visits due to the covid-19 pandemic. A Kenyan company has developed a smartphone software that allows sufferers to get the remedies they need. Starting at US$10 per…
Business: Ethiopia Telecom auction scheduled with Orange in…
Ethiopia has set a new deadline of February 2021 to whole the partial privatisation of the country’s telecommunications industry, with carriers such as Orange SA eager to increase into a market of extra than 100…
Business: Labat Africa became the first healthcare organization…
LABAT Africa has taken every other step ahead in its ambition to grow to be a leading cannabis healthcare corporation by getting into negotiations to acquire a South African Health Products Regulatory Authority-licensed hashish developing…
Business: Economy Down by 51% in 2nd Quarter…
South Africa's economy, the most industrialised in Africa, collapsed by using 51% between April and June in light of the Covid-19 pandemic, according to the country's information agency. An unheard of decline in GDP used…
Business: African Bank signs a R8bn aid deal…
African Bank stated on Monday that it had entered into an R8 billion help arrangement with its shareholders to re-enter the South African wholesale funding market. The bank, which is a one hundred percentage subsidiary…
City Lodge parks dividend after loss of R486…
City Lodge Hotels parked its remaining dividend charge for the yr ended in June as it fluttered to a R486.6million loss on Covid-19 monetary fallout on its hotels. The crew stated the day gone by…
Business: Unilever to get rid of the fossil…
When a company units a aim to reach zero emissions inside decades, it has to begin cutting carbon on each and every possible front. For Unilever, that skill spending $1.2 billion (R19.89 billion) to assist…
Business: WorldRemit to acquire Sendwave, a remittance company…
Digital, international cross-border payments company WorldRemit introduced it has agreed to collect Sendwave, a rapidly growing app-based remittance organisation in a cash and stock transaction that is expected to close, concern to licensing and regulatory…
Business: Ethiopian Airlines Group could aid SAA
Ethiopian Airlines Group is amongst corporations in talks with South Africa’s government about potentially supplying aid to the country’s insolvent kingdom airline, in accordance to people familiar with the matter. Africa’s biggest service is thinking…
If lockdown laws continue to be flouted we…
The Beer Association of South Africa, which incorporates the Craft Brewers Association South Africa, Heineken and the South African Breweries, on Wednesday threatened to reduce alcohol provide to establishments flouting the Covid-19 alert level 2…
Business: Old Mutual defers dividend in African companies…
Old Mutual Ltd. suspended its interim dividend as the fallout from the coronavirus pandemic savaged earnings, and will only make a choice on resuming payments when it has greater readability on the economic outlook. Profit…
Business: Sun International set to cut 3,300 jobs
Sun International in South Africa is planning to cut 3,300 jobs in South Africa and Chile as part of a restructuring plan to survive the pandemic, which took the firm into a half-year headline loss…
South Africa: Talks With Keen Investors in State…
South Africa‘s government has started talks with private entities interested in buying into the country’s insolvent national carrier, which needs at least 10 billion rand ($583 million) to resume operations. A team from the Department…
Business: Massmart shares continue to benefit amid loss…
Massmart earnings tumbled 40 percent at some point of the 26 weeks to June as store income slumped on the Covid-19 lockdown pandemic fallout. Massmart, which operates 420 retail and wholesale stores in 13 sub-Saharan countries,…
Business: Kenya Airways sees demand drop in the…
Kenya Airways Plc expects demand for air tour for the rest of this year to be less than half of the level in 2019 due to the ongoing impact of the Covid-19 pandemic. The partly…
Business: AfDB Unanimously Reelected Adesina As President
Still in Position Akinwumi Adesina - a 60-year-old former Nigerian agriculture minister, was unanimously re-elected to serve as the President of the African Development Bank (AfDB) for a second term of five years. The winning…
