In an effort to fight off some of the effects of climate change and to replace harmful practices such as charcoal burning, Islamic Relief has started a beekeeping initiative in Dabel, Moyale, Kenya. Through this project, locals in the dry northern areas of Kenya will learn how to turn otherwise unusable and harsh areas into […]
African smallholder farmers can enhance soil health, boost yields, and develop climate resilience through conservation agriculture (CA). Farmers can cut expenses while preserving their property by emphasising crop diversity, permanent soil cover, and minimal soil disturbance. Use minimum tillage Reducing soil disturbance is the first conservation agriculture tenet. Farmers can use shallow planting techniques or […]
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 the company, according to two people with knowledge of the matter. South African claimants – including former chairman Christo Wiese, […]
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 San Francisco-based payments company, founded two years ago by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled. The two came to […]
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, is intent to start filling of the dam’s reservoir as early as July 2020. Egypt, on the other hand, insists […]
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 the 1st July 2020. The initiative will focus on: job creation for the youth; improved farming practices among small-scale farmers […]
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 markets ensure it still has access to financing, according to the director of the Washington-based lender’s Africa department. “The key […]
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 the government’s intention to stabilise debt levels within four years was unlikely to be achieved. Fitch’s head of Middle East […]
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 players. The disclosure of bidders is the first stage in liberalization process of the market which is currently occupied 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 response to the coronavirus crisis that projected a wider budget deficit, while public debt was estimated to be more than […]
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 much we have lost but our estimate is since January to date we have probably lost in terms of revenue […]
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 Venture Capital in Africa: ‘Mapping Africa’s Start-up Investment Landscape’ released by African Private Equity and Venture Capital Association (AVCA) yesterday […]
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 creditors – private airline Airlink – is in court on Wednesday trying to prevent the vote from happening. The plan […]
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, bringing the entire speciality chemicals unit into full production, the struggling petrochemical group said in a statement on Tuesday. With […]
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 have indicated plans to cut jobs because of heavy losses experienced in the past three months, Ramaphosa said Monday in […]
Finance Minister Tito Mboweni is a man who is not above using humour to get a sincere point across. He also does not believe that he should hold his tongue simply because his views are diametrically opposed to the views of institutions he represents. As he prepares to submit his supplementary budget speech in Parliament […]
A team of technocrats and politicians commuting on a trial run on the Nairobi-Nanyuki railway escaped unhurt when their one coach train hit a car at a non-designated level crossing point. The group of investors targeted to use train services, including officials from Kenya Railways, Laikipia Governor Ndiritu Muriithi, his deputy John Mwaniki and Kieni […]
She is for the moment the most formidable African candidate for the post of president of the World Trade Organization. Nigerian Ngozi Okonjo-Iweala officially received support from Benin, which has withdrawn its candidate Eloi Laourou. South Africa turns to nuclear power South Africa is on the way to reduce its energy deficit after reviving its […]
While the mining industry overall was hard hit by the coronavirus pandemic, it is junior miners who sustained the heaviest blows – with some fighting to survive as their viability is threatened. The mining sector ramped up production as lockdown regulations were eased, but emerging miners are adjusting to a “new normal” which is set […]
SA’s biggest non-food retailer Edcon has served 22,000 of its employees with notices of retrenchments as it blames load-shedding and the initial 45-day hard lockdown for its collapse. The troubled Edcon Holdings, which owns Edgars and Jet among others, is now seeking buyers as it struggles to stay afloat due to debt and poor sales. […]