A new concept car from Caterpillar Inc. has drawn interest from tech and construction enthusiasts all over the world in recent months. The company is famous for making some of the toughest construction tools. They just showed off a smart pickup truck concept that is perfect for tough industrial job sites. The concept car has […]
Claude Kameni is a fashion designer from Cameroon who makes expensive clothes that are inspired by African culture. She hasn’t released a “2026 collection” yet, but she has been working on a prom couture raffle that was announced in early 2026. The winners will be chosen by February 7. These unique items are made for […]
The economy of Nigeria – the most populous country in Africa, with more than 200 million inhabitants – was transformed post-independence with the adoption of an International Monetary Fund (IMF) programme in 1986, which kick-started economic liberalisation. The repeal of indigenisation decrees and exchange controls, as well as privatisation of public corporations, induced a wave […]
The Standard Bank Group share price declined by more than 5 percent on the JSE on Monday after the group flagged an earnings decline of more than 20percent as the Covid-19 outbreak continues to spook the global markets. The bank said that its headline earnings per share (Heps) and earnings per share (Eps) would tumble […]
The federal government slashed the pump price of PMS when the price of crude fell at the global market with government officials saying that marked the end of fuel subsidy. Now that the price of crude is rising and with the Petroleum Equalisation Fund Act still in place, will Nigerians pay more for fuel? Olatunde […]
The impact of coronavirus on the Kenyan economy is being felt in the hospitality industry where closes airspace means tourists numbers have dwindled. The East African country heavily depends on the sector as a source of foreign exchange, job creation and revenue. But the pandemic has threatened the survival of businesses. However, Giraffe Manor, one […]
The country’s year-on-year inflation rate eased to 5.47 per cent in May from 5.62 per cent in April, latest data by the Kenya National Bureau of Statistics (KNBS) indicate. This is despite a 0.63 per cent increase in overall Consumer Price Index (CPI), which measures the percentage change in the price of a basket of […]
Gold prices ticked up on Friday as the Sino-US rift deepened over further moves by Beijing to impose a security law on Hong Kong, lifting the allure of safe havens amid market uncertainties caused by the pandemic. Spot gold was up 0.1% at $1,719.63/oz at 12.49am GMT and US gold futures rose 0.4% to $1,734.60/oz. […]
The company added that these losses were a serious blow to the national economy. In January, the NOC announced an emergency due to its inability to ship oil from Libyan ports. According to the NOC, the shipping was stopped after a relevant order of the Libyan National Army’s (LNA) commander Field Marshal Khalifa Haftar. In […]
Ride-hailing firm Bolt has raised Sh11 billion worth of investment capital from Naya Capital Management to boost its growth and development strategy. The funds will go into upgrading its mobility services and food delivery services in Europe and Africa. This will include investments into scooters, bikes and delivery services across its markets for its on-demand […]
High forward-looking loan provision in the wake of Coronavirus dent banks’ profits in the first three months of the year. Kenya adopted the IFRS19 accounting standard that requires financial institutions to provide for unforeseen defaults beforehand. An analysis of Q1 financial statements for three lenders that released their results last week shows KCB Group, Cooperative […]
Strict measures adopted by South Africa to curb COVID-19 continues to bite entrepreneurs. Fino Dlamini, started her business only in 2019 to offer bicycle tours of Soweto to visitors. But now, her tools are idle. “So I started this business officially last year October and I bought and invested in equipment. That equipment included bicycles […]
Pravin Gordhan, South Africa‘s minister for public enterprises, is staking his own credibility and that of President Cyril Ramaphosa‘s government on the creation of a new airline out of the ashes of the bankrupt national carrier. Hit by the loss of the country’s last investment-grade rating on its sovereign debt and the COVID-19 pandemic, Ramaphosa […]
The Reserve Bank of Zimbabwe (RBZ) introduced more measures yesterday affecting EcoCash agents as part of what is now seen as a policy to bring EcoCash agents into the formal banking system and ensure they are controlled. Banks holding mobile money trust accounts are now only allowed to let their account holders pay into those […]
Transformation of the agricultural sector… Ethiopia turns to alternative energy sources to counter the harmful effects of coronavirus. Coronavirus disruptions are strongly impacting world economies. On the continent, in the horn of Africa, like Ethiopia, measures are being put in place to revive the economy. The country has embarked on the transformation of its agricultural […]
The South African Informal Traders Alliance (Saita) and a tobacconist have warned that the ban on the sale of cigarettes is fuelling illicit trade. The organisations are calling on the government to “urgently” lift the ban on the sale of tobacco. “We can see the ban is not stopping people from smoking, but instead of […]
The government of Nigeria, whose revenue could be slashed by more than half this year due to the oil-price slump, finalized plans for a revised budget that keeps spending almost intact, and that will mean more borrowing. Finance Minister Zainab Ahmed got approval from the West African’s nation’s cabinet on May 13 to go ahead […]
The COVID-19 pandemic and related measures have brought the world’s economy nearly to a total halt. A UN report released on May 12 projects the global economy to contract by 3.2% this year. World trade is forecast to shrink by nearly 15% amid sharply reduced demand and disruptions in global supply chains. The report known […]
Airports Company SA (Acsa), which manages and operates nine airports in SA, says it expects it will need about R10 billion in government guarantees over the next five years in order to obtain bank loans to continue operating. The airport management company and the SA Civil Aviation Authority on Tuesday briefed Parliament’s portfolio committee on […]
Sudan’s inflation rate has risen further to 99% in April due to rising food prices, the Sudanese Central Bureau of Statistics announced on Saturday. This rate had already risen to 82% the previous month, over one year. But rising prices for grains, meat, milk and bread have further increased inflation. Despite the political transition in […]