Business

There appears to be no end in sight for hard pressed Zimbabwean consumers as they now have to pay 26% more for fuel and 300% more for energy starting this Sunday. Fuel prices in the southern African country have been going up every week, but this week’s hike is the biggest jump to date. According […]

Mozambique’s government said Exxon Mobil Corp. will sign off on a final investment decision for a liquefied natural gas project that could cost as much as $33 billion to build — the biggest ever in Africa. A ceremony marking the decision will take place Oct. 8 in Maputo, the capital of the southeast African nation, […]

The challenge facing members of the African Petroleum Producers’ Organization APPO, reformed in 2013, is to establish itself as a key and strategic player in the energy, oil and gas sectors on a continental and global scale. This implies the modernization of oil infrastructures, and a judicious allocation of resources from the various operations, among […]

Zimbabwe angrily denounced a US government decision to curb imports of diamonds from its Marange field, branding the claim the country uses forced labour at the operations “a shameless lie.” “Invoking the repulsive prospect of alleged forced labour is a new nomenclature for seeking to bar Zimbabwe’s diamonds from the international markets,” the southern African […]

Zimbabwe is set to have a new currency next month. A member of the newly appointed monetary policy committee Eddie Cross has revealed that the new currency will be introduced next month (November) in a move set to curb cash shortages in the country. Mr Cross, a renowned economist described last week’s events which saw […]

United States’ billionaire and philanthropist Bill Gates on Tuesday praised Nigeria’s Aliko Dangote, for championing efforts of reducing malnutrition in his country and globally. Gates, whose Bill and Melinda Gates foundation, works to reduce inequalities in health, said he and Dangote have a lot in common. ‘‘We both started successful businesses in the late 1970s. […]

Somalian weavers are battling to preserve the use of local fabrics and the wearing of traditional clothes. Influx of cheap clothes and textiles from China and other countries is threatening the livelihood of weavers and a ones lucrative business. “I have been working on this craft for forty years. I only earn a total of […]

Following the seizure of 25 supercars from Equatorial Guineas vice president as part of a Swiss money-laundering probe, an auction held by Bonhams on Sunday fetched nearly $27 million (27 million Swiss francs). Geneva prosecutors said in February that they had closed an inquiry into Teodoro Nguema Obiang for money laundering and misappropriation of public […]

The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Bismarck Rewane, is of the opinion that Nigeria lacks the mental discipline to execute plans for the growth of the economy. Mr. Rewane stated this on Tuesday while speaking at The Platform, a programme by the Covenant Christian Centre to mark Nigeria’s 59th Independence […]

On Thursday the International Monetary Fund said Zimbabwe needed to intensify its efforts to reform the country’s economic and political fate and improve meaningfully on transparency. The warning according to VOA came on the same day as a report by the Financial Times said the government was warned against state payouts to local company Sakunda […]

Zambia’s communications regulator said on Thursday it had cancelled the licence for Vodafone’s local franchise holder, citing a lack of technical and financial capacity. Vodafone in 2016 licenced Afrimax, a telecommunications service provider in sub-Saharan Africa to offer customers high speed 4G data services using the Vodafone Zambia brand. The company, registered as Mobile Broadband […]

The International Monetary Fund said on Thursday that Zimbabwe needed to intensify efforts on economic and political fronts, adding that the country faced a steep economic contraction this year. “Policy actions are urgently needed to tackle the root causes of economic instability and enable private-sector led growth,” the IMF, which visited Harare this month to […]

President Uhuru Kenyatta has said the Kenyan government is rolling out the Universal Health Coverage (UHC) program as part of a grand plan to transform the county into a newly industrializing, middle-income country by 2030. The President said access to affordable and quality health services will help end extreme poverty and improve productivity, especially in […]

Madagascar’s cool fresh water and inexpensive labour has inspired the production of the luxurious caviar. Three French entrepreneurs set up the farm. Today, they produce Rova Caviar with 300 tonnes of fish from 6 different sturgeon species. Delphyne Dabezies is the CEO of Rova caviar. “The day we produced the first caviar in Madagascar was […]

Nigeria’s apex financial institution, the Central Bank of Nigeria (CBN) has apologised to bank customers for the inconveniences the newly introduced cashless policy will cause. Godwin Emefiele, the Governor of Central Bank, made the apology at the end of the Monetary Policy Committee (MPC) meeting in Abuja on Friday. He stated this when he was […]

Farmers and traders are distressed after Nigerian President, Muhammadu Buhari closed all neighbouring borders around the country with a plan to end Nigeria’s economic dependence on oil, by developing domestic agriculture and industry. The border closure means Nigeria is choked off from supplies until the next harvest by local farmers. “These tomatoes are rotting in […]