The Global Minimum Tax Act which requires large multinational enterprises (MNEs) operating in the nation to pay a global minimum corporate tax rate of 15% was formally signed into law by South Africa in a…
South Africans Struggle to Survive as Unemployment Hits…
South Africa’s unemployment rate jumped to its highest since the global financial crisis more than a decade ago, data showed last week, piling pressure on a shrinking economy and President Cyril Ramaphosa’s pledge to deliver…
Gambia Outdoors New Banknotes without Jammeh’s Portrait
Plans by The Gambian government to roll out new currency notes is gathering steam. The tiny West African nation uses a currency known as the Dalasi. The Central Bank chief Bakary Jammeh on Monday presented…
Mr. Eazi Wants to Expand Africa’s Reach —…
In 2017, the Nigerian artist Joeboy released a gliding cover of Ed Sheeran’s “Shape of You” — a twisty-turny take on the original, where Joeboy slips into double-time cadences during the verses, making the beat…
Mozambique Sues French-Lebanese Billionaire Over Debt Scandal –…
Mozambique has started legal action against a French-Lebanese billionaire, Iskandar Safa, whose shipbuilding company is at the heart of a $2bn debt scandal, officials said Friday. A source at the attorney general's office, in an…
Tony Elumelu Foundation empowering African Entrepreneurs
Young African entrepreneurs have been urged to view private investment as the key to unlocking potentials in Africa. The recommendation was made by key speakers during the just ended Tony Elumelu entrepreneurship forum which brought…
MTN Nigeria Requests Judicial Review on $1billion Fine
MTN Nigeria has asked a Nigerian tax tribunal to rule on whether the company should pay corporate tax on a 330 billion naira ($1.1 billion) fine, a spokesman for the telecoms company said. MTN Nigeria,…
Turkish Airlines Launches Direct Flights to Pointe Noire
Turkish Airlines on Tuesday, June 30 launched its first flight between Pointe Noire, the economic capital of the Republic of Congo and Istanbul. The flights are seen by both Turkey and Congo as a move…
South African Develops App to Help Farmers Sell…
A pioneering app in South Africa lets investors, eager to benefit from rising global beef demand, buy shares in a cow from their mobile phone for as little as 576 rand ($41). Self-styled “crowd-farming” company…
Ghana ‘Exports Rosewood Timber Illegally to China’
About six million rosewood trees have been cut down in Ghana for illegal export to China since 2012, an environmental group says. The rare species, which takes 100 years to grow, is mostly used to…
Zimbabwe: USD$1.5 Billion Hwange Expansion Project Well on…
The Zimbabwe Power Company (ZPC), says that the USD$1.5 billion Hwange Expansion project – Unit 7 and 8 is going according to schedule and will add 600MW to the national grid upon completion in 2022.…
Ghana: Gov’t Reviews 2019 Budget to GHS 85.1…
The government of Ghana is seeking approval for extra expenditure of some GHS 6.4billion in its Mid-Year Review and Supplementary Estimates. This was contained in the Order of Business of Parliament on Monday, 29 July…
South Africa: Jabu Mabuza Appointed Eskom Acting CEO
Public Enterprises Minister Pravin Gordhan said in a statement on Monday afternoon that he has informed the Eskom Annual General Meeting (AGM) of his decision to appoint Jabu Mabuza as the interim executive chair for…
Democraticisng access to infrastructure – Bilha Ndirangu, CEO,…
Africa’s Talking is a provider of technology that helps different industries connects with infrastructure providers. Bilha Ndirangu, Chief Executive Officer of Africa’s Talking, says that democratising access to infrastructure will enable mobile app developers and…
Cameroon: American Businessman to invest at least 240…
The American businessman Mike Mason intends to invest at least 240 Billion CFA frs in Cameroon’s cobalt sector within the next four years. The American Businessman who is the Chief Executive Officer of Geovic Mining…
Fitch downgrades South Africa’s credit rating
Ratings agency Fitch downgraded the outlook for South Africa’s sub-investment credit rating on Friday, citing fiscal pressures including increased support for struggling state firms such as the power utility Eskom. South Africa’s public finances are…
Tanzania Inaugurates Hydroelectric Dam in UNESCO Site
Tanzania’s president on Friday inaugurated a huge hydroelectric dam project in the country’s largest wildlife reserve and UNESCO World Heritage Site, calling it the start of “economic liberation.” Some wildlife groups have expressed dismay over…
Kenya: President Uhuru Kenyatta Calls for Economic Diplomacy
President Uhuru Kenyatta last evening said economic diplomacy offers the best opportunity to conquer poverty and joblessness in Africa. He called on those in positions of power to provide quality leadership by getting actively involved…
VertoFX Raises $2M For Its African and Emerging…
VertoFX, an Africa and emerging markets-focused currency trading and payment startup, has raised a $2.1 million seed round, led by Accelerated Digital Ventures. The London-based company, with a subsidiary in Lagos, Nigeria, has created a…
