The United Arab Emirates (UAE) has always been considered an important player in the international business environment. But beyond the economic powerhouse, the UAE is increasingly becoming a role model in tolerance and a reliable…
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…
Busines: African, global telecom giants bid to enter…
Twelve telecom companies have thrown their hat into the race to enter the Ethiopian market according to the country’s communications regulator. The bidders range from top players across the continent and a number of global…
Business: South Africa unlikely to stabilise debt by…
The South African government target to stabilise its ballooning debt by 2023 will be very difficult to achieve and unlikely, ratings agency Moody’s said on Thursday. The Treasury on Wednesday presented a supplementary budget in…
COVID-19: Kenya Airways loses $100 million in revenue
Kenya Airways has lost an estimated $100 million in revenue as a result of the coronavirus pandemic and related lockdowns, CEO Allan Kilavuka told reporters on Friday. “We don’t have the full picture of how…
Business: Kenya and South Africa dominate Africa’s private…
Kenya has attracted Venture Capital deals worth Sh74.3 billion in the past five years, second highest in Africa after South Africa, the latest continental private equity report shows. The inaugural report on venture capital, entitled…
South Africa urges creditors to back rescue plan
South Africa’s public enterprises ministry on Wednesday urged creditors to back a rescue plan for cash-strapped South African Airways (SAA). Creditors are due to vote on the restructuring plan on Thursday, but one of the…
Business: Sasol’s troubled Lake Charles project now operating…
Sasol's delayed multibillion dollar Lake Charles project in the US is now operating at 86% of its total capacity. The alcohols plant at the project based in the US state of Louisiana is now operational,…
Business: Ramaphosa Warns of More Job Losses in…
South African President Cyril Ramaphosa warned of widening job losses as the effects of a shutdown to curb the spread of the coronavirus batters the economy. Companies in the aviation, construction, entertainment and hospitality sectors…
