Morning boats leave a quiet Pacific inlet, diesel hum in the air, gulls loud and nosy. News travels fast there. The $24.5M Grant from Bezos Earth Fund to Launch First Cross-Border Marine Biosphere Reserve in Latin America sets a clear signal. A large, practical step. Not theory. And yes, it anchors the phrase many groups […]
Q3 GDP Growth Slips to 0.5% as South Africa’s Economy Slows Further: Africa newsroom update. Markets opened to a softer print as South Africa Q3 GDP edged up 0.5%. The headline says it cleanly. South Africa economic growth cooled, and the South Africa economy’s slow tag felt accurate on trading floors. Cool morning air in […]
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 approvals, in Q4 2020. Founded in 2014, Sendwave has constructed a main and swiftly growing digital remittance provider to East […]
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 about ways to help bankrupt South African Airways fly once more after more than 5 months of dormancy, said the […]
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 policies announced via the government. “Following recent reviews of alcohol stores breaching the degree two lockdown regulations, the Beer Association […]
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 with the exception of one-time items fell 67% in the six months via June, the Johannesburg-based insurer stated in a […]
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 of 885 million rand ($53.26 million) on Monday. The hotel and casino industry, which counts on international travellers and the […]
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 of Public Enterprises and advisers from FirstRand Ltd.’s Rand Merchant Bank began negotiations after receiving as many as four promising […]
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, suggested a net loss of R1.2bn in contrast to an R800 million loss a yr earlier. The group’s headline loss […]
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 state-owned East African provider is beginning to resume worldwide flights after the government eased tour restrictions it imposed to help […]
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 and only candidate, over an exceptional annual meeting held via a video conference call, thanked his peers, “We also made […]
South African pharmaceutical conglomerate Adcock Ingram said on Wednesday its turnover rose four percent to R7.3 billion (US$434.1 million) in the yr to June no matter a prevalent monetary downturn, sizable cost-push due to weakness in the rand currency, global supply chain disruptions and declines in demand for some products. The organization said turnover was […]
Dis-Chem Pharmacies said on Tuesday in a buying and selling replace for the 24 weeks from March 1 to August 15, that it had skilled widespread online sales growth of 344 percent. The rapid deployment of extra hubs collectively with an investment in its e-commerce platform enabled it to meet the expanded demand as exceptional as […]
Mobile operator MTN has appointed Ralph Mupita as its new team president and chief executive officer with effect from 1 September 2020. Mupita has served as the MTN Group chief financial officer on the grounds that April 2017, and has played a position in the improvement and execution of the group’s strategy, capital allocation processes, financial overall […]
Dis-Chem on Friday urged its prison group to withdraw its appeal against the Competition Tribunal’s R1.2million quality for inflating the price of surgical masks, pronouncing it would as an alternative focus on meeting its customers’ needs. In July, the tribunal slapped the pharmacy chain with a R1.2m fine, or 10percent of its turnover, after discovering […]
State-owned fingers organization Denel recorded any other loss of R1.7billion for the 2019/20 monetary year due to a significant decline in revenue collection. This emerged when the Department of Public Enterprises seemed before the portfolio committee on public firms on Wednesday to short the committee on development made in addressing governance challenges facing state-owned entities. […]
Tiger Brands said on Friday, Khotso Mokhele would step down as chairman of the board on December 31. Mokhele will be changed by means of Geraldine Fraser-Moleketi, a lead impartial director at mining company Exxaro, who will take over on Jan. 1 after a handover period beginning from September. Fraser-Moleketi, 60, served in quite a […]
As digital commerce continues to speed up owing to the COVID-19 pandemic, Mastercard has introduced it will provide tokenization services to retailers with app, eCommerce, and ordinary billing card-on-file application in South Africa, further defending consumers and growing comfort when storing Mastercard cards in merchant databases. Dubbed Mastercard Digital Enablement Service (MDES) for Merchants, the […]
Standard Bank announced on Wednesday it had determined to stop the issuing of cheques as of December 2020 following the a variety of restrict savings added by the South African Reserve Bank (SARB). The lender additionally stated the persisted reduction of cheque usage at some point of the Covid-19 lockdown duration as properly as the […]
MTN has announced the appointment of Ralph Mupita as the new CEO of MTN group replacing Rob Shutter who will be stepping down at the end of August Mupita the chief financial officer will start his duties in September 2020 the company announced on Wednesday. The current group president and CEO, Rob shutter will step […]