The Cinema Exhibitors Association of Nigeria (CEAN), the country’s premier Film Trade Association Body, has announced good news for cinema lovers on the occasion of the International Cinema Day. Opeyemi Ajayi, the chairman of the Cinema Exhibitors Association of Nigeria (CEAN), said in a statement on Tuesday in Lagos that cinema lovers would enjoy discounted […]
Thousands of workers in the South African liquor industry and its value chain are facing job losses after the government reintroduced a ban on alcohol sales just as business was picking up from a nine-week hiatus. President Cyril Ramaphosa on Sunday announced the decision to reinstate the prohibition of alcohol sales and distribution with immediate […]
As the tough economic environment continues to affect industries adversely, small businesses are hit the hardest. But Telkom Business has good news. Helping the growth of small businesses in SA that have been severely hit by the Covid-19 pandemic, Telkom Business has launched its latest innovation, Yep! on Google Play and Apple App store. Yep! […]
Zero-based budgeting will be instrumental in curbing public debt, according to Business For South Africa. The organisation, which represents a vast majority of business organisations in the country, on Friday released a 12-point economic recovery plan, estimated to require R3.4 trillion over the next three years. During a briefing on the plan, B4SA’s Martin Kingston […]
As governments rushed out funding to prevent an economic collapse amid the coronavirus pandemic, global public debt swelled to the highest in history, but the International Monetary Fund (IMF) warned Friday that cutting back too soon could undermine the recovery. Continuing to provide the support as the economic slowdown drags on will be “paramount,” the […]
African countries have made “significant” progress in reaffirming their commitments and building their capacity to achieve tax transparency. This is the main conclusion of the recent report on “Tax Transparency in Africa” of the Africa Initiative, which shows that the five African countries committed to fighting these phenomena have recorded almost $12 million in additional […]
The Kenyan giant is renouncing the acquisition of African subsidiaries of the British headquartered bank Atlas Mara. A decision linked to Covid-19, but not entirely. Atlas Mara – listed on the London Stock Exchange and co-founded by former Barclays boss Bob Diamond, its CEO until February 2019 – and Equity Group Holdings (EGH) have ended […]
Andela, the global talent network that helps companies build remote engineering teams, will now accept engineers from all African countries, expanding its presence from six countries to the entire continent. In doing so, the company will double its existing talent pool to more than 500,000 engineers and significantly increase the variety of skills and experience […]
Cell C major shareholder, Blue Label Telecoms, expects to bounce back from the trading losses it experienced because of Cell C in 2019 – but now it has its hands full with WiConnect. The company said in a trading statement on Monday evening that while it expects to grow its headline earnings by more than […]
The President, Major General Muhammadu Buhari (retd.), has given an approval to the Federal Ministry of Aviation to stop all aides of public office holders and other very important personalities from gaining entry into airport terminals. According to the Minister of Aviation, Hadi Sirika, all special assistants or personal assistants of VIP are no more […]
The South African Cabin Crew Association (Sacca) and trade union Numsa have threatened to go to court to challenge a possible liquidation of South African Airways (SAA) after the government indicated it will no longer provide further funding for the embattled airline. This came two days after National Treasury, in a briefing to Parliament, presented […]
Standard Bank, which has come under fire for continuing to fund new fossil fuel projects on the continent, says it will do proper diligence to ensure that the projects it invests in do not harm society – but it will not let climate groups dictate how the bank is run. Speaking at the banking group’s […]
Steinhoff International Holdings NV is getting close to reaching a potential deal on 10 billion euros (around R188 billion) of legal claims lodged against the global retailer following an accounting scandal that almost wiped out the company, according to two people with knowledge of the matter. South African claimants – including former chairman Christo Wiese, […]
African cross-border fintech startup Chipper Cash has closed a $13.8 million Series A funding round led by Deciens Capital and plans to hire 30 new staff globally. The raise caps an event-filled run for the San Francisco-based payments company, founded two years ago by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled. The two came to […]
The Grand Ethiopian Renaissance Dam (GERD) on the Blue Nile river has become a major point of contention between Ethiopia, Egypt and Sudan. Ethiopia, which hopes to double its electricity generation capacity through the project, is intent to start filling of the dam’s reservoir as early as July 2020. Egypt, on the other hand, insists […]
An initiative, which involves a $40 million fertilizer-revolving facility and another $170 million for value addition is to be implemented in the Eastern, Northern, Western, Central, Lusaka and Copperbelt provinces under the first phase from the 1st July 2020. The initiative will focus on: job creation for the youth; improved farming practices among small-scale farmers […]
The International Monetary Fund’s discussions with South Africa over a $4.2 billion loan to support its fight against the coronavirus pandemic are taking place at a “measured pace” because the country’s deep and liquid capital markets ensure it still has access to financing, according to the director of the Washington-based lender’s Africa department. “The key […]
Fitch Ratings and Moody’s Investor Services warned on Friday that the country risked going over a fiscal cliff following Finance Minister Tito Mboweni’s Supplementary Budget last week, which left both rating agencies unimpressed. Fitch said the government’s intention to stabilise debt levels within four years was unlikely to be achieved. Fitch’s head of Middle East […]
Twelve telecom companies have thrown their hat into the race to enter the Ethiopian market according to the country’s communications regulator. The bidders range from top players across the continent and a number of global players. The disclosure of bidders is the first stage in liberalization process of the market which is currently occupied by […]