Morning boats leave a quiet Pacific inlet, diesel hum in the air, gulls loud and nosy. News travels fast there. The $24.5M Grant from Bezos Earth Fund to Launch First Cross-Border Marine Biosphere Reserve in Latin America sets a clear signal. A large, practical step. Not theory. And yes, it anchors the phrase many groups […]
Q3 GDP Growth Slips to 0.5% as South Africa’s Economy Slows Further: Africa newsroom update. Markets opened to a softer print as South Africa Q3 GDP edged up 0.5%. The headline says it cleanly. South Africa economic growth cooled, and the South Africa economy’s slow tag felt accurate on trading floors. Cool morning air in […]
Tanzanian billionaire Mohammed Dewji, who was kidnapped and held for 10 days in October last year, says he was ready to die, having been disoriented by his captivity. 43-year-old Dewji, who is widely considered to be Africa’s youngest billionaire, told the BBC he asked his kidnappers to shoot him. He was speaking to mainstream media […]
Volkswagen is importing a batch of electric powered Golf models into Rwanda for a local ride-hailing service, establishing a bridgehead in the country that it hopes to expand to other nations as it seeks to increase market share globally. Importing the vehicles into Rwanda, which sells itself to foreign investors on its reliable infrastructure, stability […]
The governor of the Reserve Bank of Zimbabwe, Dr JohnPanonetsa Manguta announced this Tuesday that the central bank will introduce some notes and coins in the Zimbabwe dollar currency in the next two weeks. The move which is said to be meant to address the cash shortage can be viewed in the lenses of a […]
President Cyril Ramaphosa on Monday refuted allegations that a number of countries in Africa are being led into a debt trap as they take up loans to fund a number of projects. Ramaphosa said in his weekly address from the Desk of the President in Cape Town, after returning from the Russia-Africa Summit held in […]
After a two-year streak of astronomical sales growth, Gucci’s latest figures show it growing at a more earthly rate. The luxury Italian brand grew 13.3% in the most recent quarter, compared to 34.9% in the same quarter last year and 42.8% in 2017. Sales reached nearly €2.4 billion (about $2.6 billion) for the quarter. Between […]
Zimbabwe’s state-owned electricity distributor, grappling with drought and ageing equipment, said on Thursday it will disconnect mines, farms and other users as it looks to recover $77 million in unpaid bills. The southern African nation is experiencing daily power cuts lasting up to 18 hours after a severe drought reduced water levels at the country’s […]
Deputy President William Ruto has said Kenya has to do more to make it a preferred gateway to Africa for investors. He said the country must adopt a radical and progressive stance in reforming the business and regulatory environment. “An intensified collaboration between the Government, development partners and the private sector would firmly drive Kenya […]
Along with Benin, Niger, which shares a 1,500-kilometre (900-mile) border with Nigeria, has been badly hit by the closure of Nigeria’s border. A long line of lorries from Niger and elsewhere in West Africa is stranded at Dan Issa. Some are full, some laden with goods. The drivers and their assistants sleep on the ground […]
President Uhuru Kenyatta’s promise that each of the 47 counties will have a state-of-the-art sports stadium remains just a promise. Documents tabled in Parliament on Tuesday painted a picture of abandoned projects with cartels taking advantage of system failures to bleed the undertaking. In their pre-election manifesto, President Kenyatta and his deputy William Ruto pledged […]
Finance Minister, Professor Mthuli Ncube has said that the two percent transaction tax will not be removed despite stakeholders including the Zimbabwe National Chamber of Commerce expressed concern over the tax. Ncube told Zimpapers Television Network on Monday, that the contested tax will be channelled towards the improvement of the country’s productive sectors to stimulate […]
European Union (EU) ambassador to Zimbabwe, Timo Olkkonen, said that the SADC anti-sanctions lobby is not convincing as the economic restrictions have a limited effect on the country’s economy. Olkkonen told Alpha Media Holdings’ HStv recently that the SADC is, however, at liberty to state what it wants. He said: Well, Sadc has the liberty […]
Minister of Finance, Mrs Zainab Ahmed, says the Federal Government has secured a $3bn loan from the World Bank. According to the Finance Minister, the loan is to be used for reforming the nation’s power sector. Mrs Ahmed announced the approval of the loan at a news conference to wrap up the World Bank/IMF annual […]
Zimbabwean companies especially those that do not export are expected to take a knock this year due to some or all of the following according to the Sunday Mail: Decline in demand of products Foreign currency shortages Shorter production time due to long periods of load shedding. Soaring inflation Eroded consumer purchasing power This was […]
The Ghana Union of Traders Association (GUTA) is calling for a total boycott of all Nigerian products imported to Ghana. The move, the traders union believes, will force the Nigerian government to open up its land borders for foreign goods. Nigeria partially shut its borders since August. According to Ghanaweb, Greater Accra Regional Secretary of […]
Despite the consistent caution and education on cyber fraud, many people are still falling prey to the activities of criminals through the Internet, resulting in the loss of millions of US dollars to businesses and individuals in Ghana. Last year alone, Ghanaian businesses and individuals lost $97 million to fraudsters. A total of $69 million […]
Ethiopia has accused Egypt of trying to maintain its grip over the waters of the Nile with a proposal it says would imperil a giant hydropower dam under construction on Ethiopia’s Blue Nile, in a growing diplomatic spat. The comments highlight the difficulties finding a compromise between the two countries over the Grand Ethiopian Renaissance […]
Authorities in Burundi on Thursday said more than 40 people have been arrested since the penalties for black market trading were increased last month. The central African country has been short of foreign currency since foreign aid was frozen in 2016, after President Pierre Nkurunziza ran for a third term despite protests from opponents who […]
As Nigeria’s land border closure bites West African countries, the Ghana Union of Traders Association (GUTA) has called for a total boycott of all Nigerian products imported by Ghana. The move, the traders union believes, will force the Nigerian government to open up its land borders for foreign goods. Nigeria partially shut its borders since […]