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…
Business: Stock Exchanges in Ghana and Nigeria set…
The economy of Nigeria – the most populous country in Africa, with more than 200 million inhabitants – was transformed post-independence with the adoption of an International Monetary Fund (IMF) programme in 1986, which kick-started…
Business: Will Nigerians pay more for fuel as…
The federal government slashed the pump price of PMS when the price of crude fell at the global market with government officials saying that marked the end of fuel subsidy. Now that the price of…
Kenya: May inflation eases to 5.47% despite rising…
The country's year-on-year inflation rate eased to 5.47 per cent in May from 5.62 per cent in April, latest data by the Kenya National Bureau of Statistics (KNBS) indicate. This is despite a 0.63 per…
Business: Gold rises as investors head to safe…
Gold prices ticked up on Friday as the Sino-US rift deepened over further moves by Beijing to impose a security law on Hong Kong, lifting the allure of safe havens amid market uncertainties caused by…
South African Airways aims to resume domestic flights…
South African Airways (SAA) aims to resume domestic flights between Johannesburg and Cape Town from mid-June, the cash-strapped airline said on Tuesday, as coronavirus lockdown restrictions ease. SAA, which is under a form of bankruptcy…
Business: Bolt raises capital of Sh11billion to upgrade…
Ride-hailing firm Bolt has raised Sh11 billion worth of investment capital from Naya Capital Management to boost its growth and development strategy. The funds will go into upgrading its mobility services and food delivery services…
Kenya: High loan provision eats into banks’ Q1…
High forward-looking loan provision in the wake of Coronavirus dent banks’ profits in the first three months of the year. Kenya adopted the IFRS19 accounting standard that requires financial institutions to provide for unforeseen defaults…
South African businesses under COVID-19 pressure
Strict measures adopted by South Africa to curb COVID-19 continues to bite entrepreneurs. Fino Dlamini, started her business only in 2019 to offer bicycle tours of Soweto to visitors. But now, her tools are idle.…
Business: Gordhan Stakes Clout for South Africa on…
Pravin Gordhan, South Africa‘s minister for public enterprises, is staking his own credibility and that of President Cyril Ramaphosa‘s government on the creation of a new airline out of the ashes of the bankrupt national…
South Africa: Informal traders join call for unbanning…
The South African Informal Traders Alliance (Saita) and a tobacconist have warned that the ban on the sale of cigarettes is fuelling illicit trade. The organisations are calling on the government to "urgently" lift the…
Business: Nigeria Opens Cash Tap as Oil Revenue…
The government of Nigeria, whose revenue could be slashed by more than half this year due to the oil-price slump, finalized plans for a revised budget that keeps spending almost intact, and that will mean…
Business: Airport management company says it may need…
Airports Company SA (Acsa), which manages and operates nine airports in SA, says it expects it will need about R10 billion in government guarantees over the next five years in order to obtain bank loans…
Business: Mango Airlines to cut employee salaries by…
Mango Airlines, the low-cost wing of SAA, is set to cut its employees’ salaries by up 50percent. Public Enterprises Minister Pravin Gordhan told Parliament during a briefing on the state of state-owned entities including SAA,…
Coronavirus: Why African airlines could rebound faster –…
African skies could experience increased activity earlier than other continents due to the planned evacuation of people seeking to return home from across the world. This is the view advanced by Tewolde Gebremariam, CEO of…
Overcoming the challenges of local production
Imports from china, Kenya’s biggest trading partner plunged by at least Sh58.64 billion in the first two months of the year as the coronavirus outbreak disrupted the supply chain. A survey by the Kenya Association…
Andela CEO confirms staff cuts as layoffs hit…
Africa-focused tech talent accelerator Andela has let go of 135 employees, CEO Jeremy Johnson said. Senior staff at the company — with offices in New York and four African countries — will also take salary…
Falling fuel price could push inflation to 17-year…
Falling fuel prices and collapsing demand are likely to outweigh the effects of a weaker rand, and could push consumer inflation towards 17-year lows, according to investment bank BNP Paribas. BNP Paribas sees inflation averaging…
Chad kicks off industrialization plan
The Republic of Chad strives for an 8% yearly growth rate by 2030 via industrialization and economic diversification. Chad hopes to achieve an 8% economic growth rate in ten years. This is the objective of…
