The Global Minimum Tax Act which requires large multinational enterprises (MNEs) operating in the nation to pay a global minimum corporate tax rate of 15% was formally signed into law by South Africa in a…
Business: Nigerian scholar calls for halt to auction…
A prominent Igbo-Nigerian artist and academic has called for the cancellation of a forthcoming auction in Paris of two sacred sculptures taken out of Nigeria during its devastating civil war in the late 1960s. Chika…
Business: Thousands of jobs are threatened by the…
Thousands of workers in the South African liquor industry and its value chain are facing job losses after the government reintroduced a ban on alcohol sales just as business was picking up from a nine-week…
Business: Telkom launches Yep! app to grow small…
As the tough economic environment continues to affect industries adversely, small businesses are hit the hardest. But Telkom Business has good news. Helping the growth of small businesses in SA that have been severely hit…
Business: SA business gives Mboweni’s zero-based budgeting thumbs…
Zero-based budgeting will be instrumental in curbing public debt, according to Business For South Africa. The organisation, which represents a vast majority of business organisations in the country, on Friday released a 12-point economic recovery…
Business: IMF warns cutting spending too soon could…
As governments rushed out funding to prevent an economic collapse amid the coronavirus pandemic, global public debt swelled to the highest in history, but the International Monetary Fund (IMF) warned Friday that cutting back too…
Business: Progress in Africa’s fight against tax evasion
African countries have made “significant” progress in reaffirming their commitments and building their capacity to achieve tax transparency. This is the main conclusion of the recent report on “Tax Transparency in Africa” of the Africa…
Business: Why Kenya’s Equity Bank broke off talks…
The Kenyan giant is renouncing the acquisition of African subsidiaries of the British headquartered bank Atlas Mara. A decision linked to Covid-19, but not entirely. Atlas Mara – listed on the London Stock Exchange and…
Business: Andela engineering-as-a-service to go fully-remote and double…
Andela, the global talent network that helps companies build remote engineering teams, will now accept engineers from all African countries, expanding its presence from six countries to the entire continent. In doing so, the company…
Business: Cell C shareholder Blue Label takes R330m…
Cell C major shareholder, Blue Label Telecoms, expects to bounce back from the trading losses it experienced because of Cell C in 2019 - but now it has its hands full with WiConnect. The company…
African nations reopening airspace despite rising COVID-19 cases
As COVID-19 cases surged in many parts of the world, the island nation of the Seychelles was looking good: 70-plus straight days without a single infection. Then the planes arrived. Two chartered Air Seychelles flights…
Numsa and Sacca threaten legal action over SAA…
The South African Cabin Crew Association (Sacca) and trade union Numsa have threatened to go to court to challenge a possible liquidation of South African Airways (SAA) after the government indicated it will no longer…
Standard Bank: We will not let climate groups…
Standard Bank, which has come under fire for continuing to fund new fossil fuel projects on the continent, says it will do proper diligence to ensure that the projects it invests in do not harm…
Steinhoff likely near to settling R188 billion in…
Steinhoff International Holdings NV is getting close to reaching a potential deal on 10 billion euros (around R188 billion) of legal claims lodged against the global retailer following an accounting scandal that almost wiped out…
Business: African payment startup Chipper Cash raises $13.8M…
African cross-border fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital and plans to hire 30 new staff globally. The raise caps an event-filled run for the…
Business: Could Nile dispute be opportunity to boost…
The Grand Ethiopian Renaissance Dam (GERD) on the Blue Nile river has become a major point of contention between Ethiopia, Egypt and Sudan. Ethiopia, which hopes to double its electricity generation capacity through the project,…
Business: African Green Resources and African Fertilizer Agribusiness…
An initiative, which involves a $40 million fertilizer-revolving facility and another $170 million for value addition is to be implemented in the Eastern, Northern, Western, Central, Lusaka and Copperbelt provinces under the first phase from…
Business: IMF says South Africa loan talks occurring…
The International Monetary Fund's discussions with South Africa over a $4.2 billion loan to support its fight against the coronavirus pandemic are taking place at a "measured pace" because the country's deep and liquid capital…
Business: Runaway debt risks sending SA over a…
Fitch Ratings and Moody’s Investor Services warned on Friday that the country risked going over a fiscal cliff following Finance Minister Tito Mboweni’s Supplementary Budget last week, which left both rating agencies unimpressed. Fitch said…
