AFRICA BUSINESS

Big swing for the South African rand

The rand has recovered significantly after the chaos of the past week, pulling back below R19 to the dollar as both the US tariff was and shakiness in the Government of National Unity (GNU) ease.Afte...

AFRICA NEWS

Social unrest warning in South Africa

Critical issues such as the government's overreliance on taxes and the deterioration of basic services threaten social unrest in South Africa. Renowned economist Dawie Roodt warned that the gover...

AFRICA NEWS

South Africa shows off new border patrol drone tech

Minister of Home Affairs Leon Schreiber has unveiled the Border Management Authority's (BMA) new drones and body cameras that will be piloted over the Easter weekend to enhance border security.Schreib...

AFRICA BUSINESS

South Africa's electricity prices have risen by over 600% since 2008

South Africa's electricity prices have skyrocketed by more than 600% since 2008, far outpacing headline inflation and becoming a key structural driver of rising costs across the economy. This relentl...

AFRICA BUSINESS

Money, politics put world's biggest climate deal at risk

When Indonesia agreed last year to clean up its energy system with an estimated US$20 billion of help from a coalition of wealthy countries and large financial institutions, world leaders hailed the d...

AFRICA BUSINESS

SA losing US$62 billion a year due to illicit financial flows

South Africa is losing more than US$62 billion a year because of illicit financial flows (IFFs), which could be used to fund the building of schools, hospitals and safer roads.This was highlighted at ...

Shortage of oil refineries haunts Africa as fuel prices rocket

A shortage of oil refineries across sub-Saharan Africa coupled with soaring crude prices because of the war in Ukraine has left countries dangerously short of fuel supplies, disrupting airlines and ca...

AFRICA NEWS

Kenya declares three days of mourning for Mugabe

Kenyan President Uhuru Kenyatta declared three days of mourning for the former Zimbabwean President Robert Mugabe on Friday, describing him as a "shining beacon of Africa's liberation struggle."In a p...

AFRICA BUSINESS

Break down trade barriers - AfDB chief

Elimination of barriers could potentially spur Africa's trade by 53 percent and eventually double in the medium term, Akinwumi Adesina, president of Africa Development Bank has said. Adesina made the ...

AFRICA BUSINESS

South Africa moves to tighten job terms, expats fear expulsion

Foreign workers in South Africa with expertise deemed vital to the economy are worried that authorities will reduce the number of critical skills eligible for work permits, a move they say could force...

AFRICA BUSINESS

Gold worth billions smuggled out of Africa

Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East - a gateway to markets in Europe, the United States and beyond - a Reu...

AFRICA BUSINESS

South Africa introduces R50 and R500 coins to celebrate 25 years of democracy

The South African Mint has unveiled a set of new R50 and R500 collector coins, celebrating the country's 25 years of democracy."This week 25 years ago, South Africans went to the polls in the country'...

AFRICA BUSINESS

Namibia mulls end to 25-year rand peg

Namibia is growing tired of the economic pain caused by the volatile rand and is considering ending a 25-year-old peg to the SA currency.The government in Windhoek is weighing options to amend the cur...

AFRICA BUSINESS

South African billionaire defends white wealth

Johann Rupert, South Africa's second-richest man with a $6.3 billion fortune, spoke out to defend the stranglehold white people still have over the economy more than two decades after the end of apart...

AFRICA NEWS

SADC tells Chamisa to get real

Sadc Executive Secretary Dr Stergomena Lawrence Tax has advised the opposition MDC Alliance that President Emmerson Mnangagwa's legitimacy is indisputable, underscoring that the regional bloc is prepa...

AFRICA BUSINESS

Comesa plans to set up regional energy regulator

THE Common Market for Eastern and Southern Africa (Comesa) plans to establish a regional energy regulatory authority to enhance sustainable energy investment and development.Comesa is a regional group...

AFRICA NEWS

Ramaphosa loyalists take over SARS

Changes in the South African Revenue Service top leadership were announced internally on Thursday, with two loyalists to suspended commissioner Tom Moyane shifted out of key posts and a new head of th...

AFRICA BUSINESS

How to identify fake Mandela bank note or coin

The South African Reserve Bank (SARB) recently launched a new public awareness campaign alongside the introduction of the new Mandela commemorative series of banknotes and R5 circulation coin.As part ...

AFRICA BUSINESS

Comesa Summit appoints Ngwenya successor

DELEGATES to the 20th Common Market for Eastern and Southern Africa (Comesa) Heads of States and Government Summit will appoint a new secretary general to the regional trading body next month to take ...

AFRICA BUSINESS

Fitch Ratings affirms SA's rating at BB+

Fitch Ratings has affirmed SA's credit rating of junk status, warning of low growth and 'sizeable government debt'.Fitch kept SA's rating at BB+ with a stable outlook, as expected, after a host of mee...

AFRICA BUSINESS

SAPP gets fresh mandate

THE Southern African Power Pool (SAPP) will construct a new facility in Zimbabwe to expand its existing home and cater for increased staff after getting a new mandate from its 12-member electricity pr...

AFRICA NEWS

Zuma fighting Ramaphosa's economic reforms

South Africa's former leader Jacob Zuma is impeding a crackdown on corruption by the ruling African National Congress (ANC) under President Cyril Ramaphosa, the head of the communist party said.The AN...

AFRICA BUSINESS

'State-led industrialisation key for Africa'

African Development Bank Group (AfDB) president Akinwumi Adesina has said State-led industrialisation will drive millions out of poverty, as the bank announced a $35 billion investment over 10 years t...

AFRICA NEWS

Zimbabwe/SA launch joint crime-busting operation

ZIMBABWE and South Africa last week launched a multi-disciplinary joint crime-busting operation targeting cross-border criminals.The operation, code-named Cross-border Operation Basadi (basadi means w...

AFRICA BUSINESS

No big shock for Zimbabwe in AfCFTA

THE African Continental Free Trade Area (AfCFTA) will give countries like Zimbabwe a wider market to export goods, an expert has said, discounting concerns the economy would be overrun by its biggest ...