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 […]
South Africa’s public enterprises ministry on Wednesday urged creditors to back a rescue plan for cash-strapped South African Airways (SAA). Creditors are due to vote on the restructuring plan on Thursday, but one of the creditors – private airline Airlink – is in court on Wednesday trying to prevent the vote from happening. The plan […]
Sasol’s delayed multibillion dollar Lake Charles project in the US is now operating at 86% of its total capacity. The alcohols plant at the project based in the US state of Louisiana is now operational, bringing the entire speciality chemicals unit into full production, the struggling petrochemical group said in a statement on Tuesday. With […]
South African President Cyril Ramaphosa warned of widening job losses as the effects of a shutdown to curb the spread of the coronavirus batters the economy. Companies in the aviation, construction, entertainment and hospitality sectors have indicated plans to cut jobs because of heavy losses experienced in the past three months, Ramaphosa said Monday in […]
Finance Minister Tito Mboweni is a man who is not above using humour to get a sincere point across. He also does not believe that he should hold his tongue simply because his views are diametrically opposed to the views of institutions he represents. As he prepares to submit his supplementary budget speech in Parliament […]
A team of technocrats and politicians commuting on a trial run on the Nairobi-Nanyuki railway escaped unhurt when their one coach train hit a car at a non-designated level crossing point. The group of investors targeted to use train services, including officials from Kenya Railways, Laikipia Governor Ndiritu Muriithi, his deputy John Mwaniki and Kieni […]
She is for the moment the most formidable African candidate for the post of president of the World Trade Organization. Nigerian Ngozi Okonjo-Iweala officially received support from Benin, which has withdrawn its candidate Eloi Laourou. South Africa turns to nuclear power South Africa is on the way to reduce its energy deficit after reviving its […]
While the mining industry overall was hard hit by the coronavirus pandemic, it is junior miners who sustained the heaviest blows – with some fighting to survive as their viability is threatened. The mining sector ramped up production as lockdown regulations were eased, but emerging miners are adjusting to a “new normal” which is set […]
The African Petroleum Producers Organisation (APPO), Tuesday, agreed to relocate the headquarters of the organization from Nigeria to Brazzaville, Republic of Congo. The Council of Ministers approved the recommendation to move the temporary Headquarters of the Organization from Abuja, Nigeria to the permanent Headquarters in Brazzaville, Republic of Congo. It also approved the new Host […]
Reports that Kenya has suspended a recent order that all transit cargo be transported using the Standard Gauge Railway to the Naivasha Inland Container Depot has offered temporary relief to investors in the logistics sector. On Tuesday last week, Transport Cabinet Secretary James Macharia held a virtual meeting with Northern Corridor stakeholders where the directive […]
SA’s biggest non-food retailer Edcon has served 22,000 of its employees with notices of retrenchments as it blames load-shedding and the initial 45-day hard lockdown for its collapse. The troubled Edcon Holdings, which owns Edgars and Jet among others, is now seeking buyers as it struggles to stay afloat due to debt and poor sales. […]
Stay vigilant. Hackers will keep trying to capitalise on Covid-19, warns Maher Yamout, senior security researcher at global cyber security firm Kaspersky. When many people suddenly had to work from home when the coronavirus pandemic lockdown started, the focus of hackers shifted from email attacks to online attacks, Kaspersky research shows. The first coronavirus case […]
The Yoko Small Business Recovery Monitor showed turnover among small and medium sized businesses (SME’s) was flat last week, with the index static at 56 percent when compared with levels before the Covid-19 lockdown. SME’s have faced severe financial difficulties through the lockdown and many of them have only this month resumed trading after being […]
In between her shifts, Zimbabwean nurse Sinothando Mpofu used to go to Bulawayo’s open-air markets to buy tomatoes and cabbages for her family – until the country’s coronavirus lockdown closed all stalls. Mpofu worried about where she would get fresh food, until she saw a message in her local church WhatsApp group about Fresh in […]
There is a lot of talk about the role and the mandate of the SA Reserve Bank and emotions seem to rise when the economy is in a rut and solutions prove elusive. Critiques of the bank are plentiful but orchestrated reaction and co-ordinated attacks ring hollow when fiscal policy, or the lack thereof, is […]
Oil prices fell more than 2% on Thursday on worries about slow demand growth with coronavirus cases rising, US crude stockpiles hitting an all-time high and the US Federal Reserve projecting recovery from the pandemic would take years. US West Texas Intermediate (WTI) crude futures erased gains from Wednesday, falling as low as $38.42 a […]
Raising $1M for your startup in Africa is starting to become more common. As of May 21, 54 startups have raised at least $1M in 2020. Raising $1M as an African woman is still frustratingly rare. Fara Ashiru Jituboh has done just that, raising a $1M pre-seed round for Okra, where she is cofounder, CEO […]
In between her shifts, Zimbabwean nurse Sinothando Mpofu used to go to Bulawayo’s open-air markets to buy tomatoes and cabbages for her family of nine – until the country’s coronavirus lockdown closed all stalls. Ms Mpofu worried about where she would get fresh food, until she saw a message in her local church WhatsApp group […]
Ghanaian startup mPharma, which manages prescription drug inventory for pharmacies and their suppliers, has raised $17 million in its latest funding round and announced the appointment to its board of Helena Foulkes, former president of CVS, the largest pharmacy retail chain in the United States. The Accra-based company, founded by chief executive Greg Rockson seven […]