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 […]
Tanzania’s economic growth could fall to 4% this calender year due to effects of the coronavirus pandemic, according to Finance Minister Philip Mpango. Economic expansion “could further decline depending on the extent of the impact of the coronavirus outbreak on different sectors of the economy,” Mpango told lawmakers on Friday in a presentation seen by […]
Equatorial Guinea has announced a series of strategic measures to assist oil and gas exploration companies. The measures are expected to lessen the financial burden of these oil companies as the world battles covid-19. The executive president of the African Chamber of Energy for the CEMAC zone, Leoncio Amada NZE, analysed the measures taken by […]
Imports from china, Kenya’s biggest trading partner plunged by at least Sh58.64 billion in the first two months of the year as the coronavirus outbreak disrupted the supply chain. A survey by the Kenya Association of Manufacturers (KAM) shows about 82 per cent source their inputs from china, hence face a direct risk of supply […]
Africa-focused tech talent accelerator Andela has let go of 135 employees, CEO Jeremy Johnson said. Senior staff at the company — with offices in New York and four African countries — will also take salary cuts of 10% to 30%. The compensation and staff reductions are a result of the economic impact of the COVID-19 […]
Falling fuel prices and collapsing demand are likely to outweigh the effects of a weaker rand, and could push consumer inflation towards 17-year lows, according to investment bank BNP Paribas. BNP Paribas sees inflation averaging just 2.8% this year — below the SA Reserve Bank’s target range of between 3% and 6% — leaving the […]
The COVID-19 pandemic is likely to quicken the shift to digital financial services in Africa, Ecobank Transnational Incorporated CEO Ade Ayeyemi said. Once the worst of the pandemic is over, COVID-19 could be “a great accelerator,” enabling the adoption of new technology in Africa, Ayeyemi said from Lomé in Togo. “It can be an opportunity […]
South Africa will allow all agricultural exports including wine and wool to resume under new lockdown regulations. The country will move to a national alert level 4 from Friday after five weeks of a strict lockdown, during which most industries were shut and the economy ground to a halt. The prohibition on the local sale […]
South African Airways suffer heavy financial losses as the ramifications of the covid -19 pandemic hits hard. The South African airline, which has been denied further funding from the government to support its operations, has suspended all international flights until May 31 as the country battles covid 19. Authorities say, the company is facing serious […]
Standard and Poor’s on Wednesday lowered the credit rating for South Africa by one notch to “BB-” due to the “significant adverse implications” of the coronavirus pandemic on the country’s already-weakened economy. “South Africa’s already contracting economy will face a further sharp COVID-19-related downturn in 2020,” after contracting in the second half of 2019 due […]
Zimbabwe farmers started selling their tobacco crop on Wednesday after the coronavirus outbreak delayed the opening of auctions, which provide vital foreign currency inflows, by more than a month. Tobacco is the second biggest earner of foreign exchange after gold, and last year generated $747 million in exports mainly to China and Europe, according to […]
The International Monetary Fund said on Tuesday its executive board approved $3.4 billion in emergency financial assistance for Nigeria to support the oil exporter’s response to the coronavirus pandemic. The global lender said it remained closely engaged with Nigerian authorities and was ready to provide policy advice and further support as needed. The outbreak and […]
Several hundred Burkinabè traders demonstrated Monday in Ouagadougou to demand the reopening of all the markets, which were closed at the end of March to combat the spread of the coronavirus, a source said. “We want the markets to reopen so we can resume our activities and provide for our needs,” said Soumaila Tiendrebeogo, a […]
Egyptian Prime Minister Moustafa Madbouli announced on Sunday that his government had started negotiations with the International Monetary Fund (IMF) to obtain a one-year financial assistance to cope with the recession caused by the coronavirus pandemic. “We have started discussions with the IMF for financial assistance in addition to technical assistance,” Madbouli said at a […]
Infrastructure projects financed by Chinese capital are gathering steam in Djibouti, causing concern in Washington that the tiny East African nation is falling into a debt trap that will allow Beijing to reinforce its influence on the continent. With the coronavirus spreading in the Horn of Africa, its fiscal burden may further increase. According to […]
The Republic of Chad strives for an 8% yearly growth rate by 2030 via industrialization and economic diversification. Chad hopes to achieve an 8% economic growth rate in ten years. This is the objective of the Master Plan for Industrialization and Economic Diversification, set up by Ndjamena. It aims to develop the national economy by […]
Evolution on Thursday announced that mine operating cash flows for the quarter ended March reached A$257.4-million, while free cash flows reached A$111.5-million. Gold production in the March quarter declined slightly from the 170 890 oz produced in the December quarter, to 165 502 oz, while silver production declined from 137 262 oz to 118 224 […]
TEBA, the century-old company that provides recruitment and other services to mineworkers, will draw on decades of experience to assist SA’s mining companies to gradually ramp up production as lockdown restrictions are eased. The gold and platinum sectors are working with TEBA to return 350,000 miners to the gold and platinum industry as the sector […]
Six months of debt relief has been granted to 25 countries considered the poorest in the world by the International Monetary Fund. The institution will then redirect these funds towards the fight against the coronavirus pandemic. 19 of the 25 are African countries chosen based on an extreme poverty and vulnerability ranking. Oil prices, virus, […]