Africa Business News – Read economic news today, South Africa business updates, and latest economy trends and developments.
Walk through any major African city at dawn and you will see an economy already at work. Waste-to-Wealth in Africa is not a slogan invented for conference stages. It is the woman sorting plastic bottles at a dumpsite in Nairobi, the young man pushing a cart of scrap metal through Lagos traffic, and the entrepreneur […]
Washington has delivered a heavy blow to two of Africa’s most closely watched economies. The US trade deal known as AGOA will go ahead without South Africa and Rwanda from 1 January, US Trade Representative Jamieson Greer announced on Monday. Greer said both countries engaged in practices “inconsistent” with the programme’s eligibility rules. He pointed […]
An African fintech company flutterwave has raised $250 million in a series D round recently which has tripled the company’s valuation and taken the total value at $3 billion in just one year of its run. The headquarters of the business is in San Francisco but the business is based out of Lagos. Last year […]
Nigeria is one of the African countries which is moving in the correct direction when it comes to development and progress. But despite hard attempts, the government is failing to establish successful businesses and that is causing a huge loss to the investors, taking the country further down in the parameter of ease of doing […]
It is not more hidden that Tunisia is not just suffering politically but having a toss on economic grounds as well. The International Monetary Fund highlighted the weak economic planning of the country recently saying that the African nation needs deep economic reforms to sustain things further. The concern was generated by the outgoing IMF […]
South Africa – South Africa’s Department of Employment has proposed a new target of minimum wage in the country in 2022. The National Minimum Wage Commission is responsible for assessing and reviewing the minimum wage annually, under National Minimum Wage (NMW) Act. After that, the minister of Employment and Labour, Thulas Nxesi, determines whether an […]
Africa – The Central African Republic’s Kapou village has a reputation for producing significant quantities of palm wine. This activity has been the main source of revenue for young and old for decades. Philemon owns and exploits a number of palm trees. Some were passed down from his father, who introduced him to the sport […]
South Africa -Cryptocurrencies have opened up the market of investors for their diverse and accessible nature. And for this very reason, they have raised the scope of scrutiny by governments and regulators. South Africa’s anti-money laundering and counter-terrorist financing measures were recently assessed in a report by National Treasury. The report was compiled through collaboration […]
Africa – A total of 110 doses of the Moderna covid 19 vaccine will be delivered to Africa. On the world’s least vaccinated continent, this has been dubbed a breakthrough. Moderna said Tuesday that it expects to provide the first 15 million doses by the end of this year, followed by 35 million in the […]
Virginia – The company of the 1970s has now stepped into making its mark in the field of renewable energy as it is being seen as the largest emerging company to harness the power of natural gas and helium in Africa. Indeed, Renergen is almost ready to start producing both natural gas and helium, placing […]
Zimbabwe – A report by a reported financial institution warned Zimbabwe of a crackling economy in the coming months. The African nation’s economy is continuously falling and there are lingering dangers especially after the US dollar is being proffered over the local currency to make transactions. The country’s main business group announced on Wednesday that […]
Nairobi – On Sunday, the International Consortium of Investigative Journalists, a Washington, DC-based network of reporters and media organizations, disclosed financial data that revealed a relationship between international leaders and hidden wealth. The records include 35 current and previous national presidents, as well as 330 parliamentarians, and are based on data from 91 countries. Kenyan […]
Nigeria – In Nigeria, the government has launched a drive to revive the country’s once-thriving palm oil business. It is one of the finest sectors to diversify away from petroleum and help create jobs. However, it becomes a problem when loans for small-scale producers go into the pockets of bigger factory owners. Nigeria is the […]
The African Continental Free Trade Area (AfCFTA) agreement is a distinct game changer for Africa. It is a driven trade agreement that frames the world’s most significant free trade area by joining nearly 54 African nations. On 21 March 2018, the African Union (AU) settled the agreement and was signed by 44 member states in […]
The lifting of the European Union’s ban on the import of fruits and vegetables from Ghana has boosted big investments in modern agricultural methods by farmers in the African nation. In recent years, Ghanian farmers have worked on improving their food production with the aim of expanding their farming activities to countries across the world. […]
Covid-19 has disturbed food suppliers around the world. As per a new survey by Agribusiness Olam International, farmers across the globe are suffering harsh repercussions due to the pandemic. It is one of the world’s largest suppliers of coffee, cotton, cocoa, and rice. Olam’s survey covers nearly three and a half thousand farmers and has […]
On Tuesday, United States of America’s President Joe Biden announced that the administration is pushing for expanding business ties between US firms and Africa. The focus of this relationship would be on sectors including health, clean energy, agricultural businesses and transportation infrastructure across the continent. The move has been welcomed by the US industry leaders […]
The COVID-19 pandemic and movement restrictions significantly disrupted the global supply chain, resulting in shortages of essential products such as medical equipment and pharmaceuticals across the world. As several pharmaceutical-producing countries suspended their exports due to global lockdown, import-dependent regions struggled to overcome the health crisis. This disruption in global supply severely impacted Africa’s ability […]
On Thursday, African leaders convened in Abidjan, Ivory Coast, to lobby the World Bank for fresh aid plans to help them finance their economic recovery and improve access to Covid-19 vaccines. As the COVID-19 pandemic continues to put financial strains on economies, leaders are demanding $100 billion for a crucial World Bank fund that assists […]
Nissan has always appreciated the commitment of the enormous African automobile market. In Egypt, Nissan has a very agile plant and makes vehicles just for the region. Nissan manufactures three main models, and the primary objective is to capitalize on the main Egyptian market, says Mike Witfield, Managing Director for Nissan Africa, in an interview […]