Tag: Economy
S. Africa’s Naspers hires Airbnb, Amazon veteran to lead global classifieds business
Naspers Ltd, Africa's largest firm, announced on Thursday that it has recruited a top Airbnb and former Amazon executive to…
S. Africa’s Eskom to implement power cuts after losing generation capacity
After losing generation energy, South Africa's struggling state utility Eskom announced on Wednesday that it would implement scheduled power cuts…
Tanzania power project sets stage for electric SGR operations
Tanzania's State power company will provide 70 megawatts of electricity to power the first phase of the standard gauge railway…
Somalia issues first mobile money licence to telecom firm
As the Horn of Africa nation strives to align its payment systems with the global financial system, the Central Bank…
South Africa Sees Main Surplus as Key Fiscal Anchor
In lieu of an expenditure cap, South Africa has altered its emphasis to make a primary budget surplus its most…
S. Africa plans to strengthen spending on vaccines, job creation
In an effort to counter the economic damage caused by the coronavirus pandemic, South Africa announced plans on Wednesday to…
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Sudan switches to managed currency float amid economic crisis
Sudan is moving from a fixed exchange rate to a managed float, the central bank said Sunday, but at the…
Nigeria’s economy exits recession
In the fourth quarter of 2020, the Nigerian economy exited recession, recording its first growth in three quarters as the…
Egyptian Plan to Supply Europe’s LNG Gets Boost as Plant Reopens
After an eight-year hiatus, Egypt is close to restarting its second liquefied natural gas project, as the North African nation…
AfDB blacklists Kenyan firm “over tender” fraud
On Tuesday, the African Development Bank (AfDB) barred Global Interjapan (Kenya) Limited, a civil engineering company based in Kenya, from…
Shell files int’l arbitration against Nigeria over oil spill case
According to a filing with the World Bank dispute resolution agency, Royal Dutch Shell has initiated international arbitration against Nigeria…
Google vows $10m to bolster Kenya’s economic recovery
On Wednesday, Google committed $10 million (Ksh1.1 billion) to support Kenya's economic recovery, battered by the effects of the Covid-19…
