Africa Business News – Read economic news today, South Africa business updates, and latest economy trends and developments.
Ghana and Côte d’Ivoire are making new moves in order to strengthen cooperation in the world cocoa market, improve conditions for farmers, and decrease dependence on the volatile international commodity prices. Cocoa Alliance Ghana and Côte d’Ivoire,The actions, such as the Côte d’Ivoire–Ghana Cocoa Initiative and the extended Cocoa Value Addition Alliance (COPEC), will help […]
Governments in Africa have been implementing measures to increase revenue collection through tax reforms and business regulations. This week, governments in Kenya, Tanzania, and South Africa released important policy updates for businesses and taxpayers. Africa Tax News, The policy announcements, ranging from fuel VAT relief in Kenya, Digital Services Tax update in Tanzania, to tighter […]
Comair on Friday surpassed another great waypoint en route to returning to the skies when the giant majority of creditors and shareholders voted to adopt the business rescue plan. The company stated on Friday that in terms of the commercial enterprise rescue format the favored investment consortium, comprising a range of former Comair board members […]
All aboard the famous South African Franschhoek Wine Tram back on track following a six-month hiatus due to strict sanitary regulations in light of the Covid-19 pandemic — as was the case with many businesses across the globe who saw their activity shut down or negatively impacted by the global coronavirus health crisis. David Blyth, […]
On a peninsula east of Lagos, 30,000 employees are employed on a task that holds out the promise of transforming Nigeria’s economic fortunes. It’s right here that Aliko Dangote, Africa’s richest man, plans to spend greater than his internet really worth of $13.5 billion building one of the world’s largest oil refineries. If he succeeds, he should […]
The coronavirus pandemic may want to convey tremendous modifications to Africa’s economies even if output shrinks by means of as tons as 10% this year, in accordance to a new investment report. There are already signs that the continent will be disproportionately hit by way of the outbreak that has raised dangers and worsened the […]
Kenya Airways stated it will resume business passenger flights to Ghana and Sierra Leone on September 16 and to Liberia on September 17. The flag carrier stated in an advertisement in the Daily Nation newspaper that it will fly 4 instances a week to Accra and twice weekly to Freetown and Monrovia. In West Africa, […]
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 advised the company’s annual popular meeting the request would affect the group’s contemporary flat share price. The decision failed to […]
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 means of the Auditor-General (AG) of South Africa. The Department said in a assertion this transient halt would allow the […]
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 consultation, patients can see a medical doctor inside 20 to 30 minutes of their request. – Trade tensions between Ghana […]
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 million people. Prime Minister Abiy Ahmed’s administration is looking to auction two new mobile-network licenses and promote a minority stake […]
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 crew in the Eastern Cape. Labat said in a declaration the previous day that it had been granted a 60-day […]
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 to be anticipated as the countrywide lockdown on March 27th imposed to curb the unfold of the new coronavirus, noticed […]
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 of African Bank Holdings Limited (ABHL), said the support amenities would be supplied over a length of three years and […]
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 that it was once not planning to pay dividends in the short term, given the affect of Covid-19 on its […]
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 its suppliers undertake technologies to cast off the use of fossil fuels in the manufacturing of cleaning merchandise by way […]
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 […]