Nigeria abolishes caps to attract forex
The Central Bank of Nigeria (CBN) has eased rules on international money transfers, taking another step in freeing up its volatile foreign-exchange market to attract billions of dollars being sent home...
View ArticleKenya imports fridges from SA under AfCFTA
KWAZULU-NATAL. – Kenya is importing its first consignment of machinery, agricultural products and electronics, among them refrigerators, from South Africa under the African Continental Free Trade Area...
View ArticleKenya discovers rare precious mineral
Kenya has announced the recent discovery of the precious mineral Coltan within its borders. Coltan is a priceless component in the manufacture of smartphones, laptops, and other communication gadgets....
View ArticleAbsa aims to harness Chinese corporate Africa penetration
Absa Group is positioning to benefit as private Chinese firms increase their investment in Africa, the head of the bank’s international business told Reuters. China’s involvement in Africa, for decades...
View ArticleTreasury closes doors on blocked funds appeals
Business Reporter THE Treasury has said new appeals for the assumption of blocked funds by the Government from companies or individuals are no longer acceptable since the process was completed in 2020....
View ArticleMajor central bank rates plateau ahead of reviews
LONDON — Major central banks stood pat on interest rates in January, as the much-anticipated change of course in the global monetary policy draws closer while emerging market peers ploughed on with...
View ArticleTSL assumes 100pc control of Agricura
Michael Tome Business Reporter TSL Limited, a Zimbabwe Stock Exchange (ZSE) agriculture-focused company, has assumed 100 percent ownership of Agricura after buying out minority shareholding in Agricor...
View ArticleMasawi new Tongaat Hulett Zimbabwe chief executive
George Maponga in Masvingo Tongaat Huletts Zimbabwe has appointed seasoned sugar technologist Mr Tendai Masawi as chief executive officer and managing director of Hippo Valley Estates Ltd(Hippo) and...
View ArticleMoza seeks to end 50-year South Africa hydropower pact
Mozambique plans to end half a century of hydropower supply to South Africa’s state-owned electricity utility, raising risks for the continent’s most industrialised economy and threatening the...
View ArticleAfrica set to ward off economic roadblocks
Africa’s economic future after suffering a heavy toll during the 2020 Covid-19 pandemic, is set to pick up steam. A recent report by the International Monetary Fund shows that its economic projection...
View ArticleNigeria bans international money transfers
Banks and fintechs in Nigeria are now prohibited from providing international money transfer services, according to the updated guidelines for International Money Transfer Operators (IMTOs) released by...
View ArticleKenya launches new tourism initiative
The Kenyan government has launched a groundbreaking initiative known as the “West Africa Roadshow”, which aims to promote the richness and diversity of the country’s travel destinations following a...
View ArticleZimplats says US$1,8bn projects on course
Nelson Gahadza Senior Business Reporter Zimbabwe’s largest platinum producer, Zimplats, says all major capital projects under execution are progressing according to plan as the platinum mining group...
View ArticleZim exports surge 10pc to US$7,2bn
Business Reporter ZIMBABWE’S total value of exported goods grew by nearly 10 percent to US$7,2 billion in 2023 from US$6,59 billion realised over the same period in 2022. Although Zimbabwe’s exports...
View ArticleLocal firm to pay Seed Co US$1,1 mln for contract breach
Business Reporter Seed Co Limited has won its High Court case against local company Credcorp, securing a US$1,1 million judgment award after the latter failed to fulfill a seed production contract. The...
View ArticleEconet lauded for empowering women-owned businesses
Herald Correspondent Econet Wireless Zimbabwe has been commended for empowering female entrepreneurs and promoting the growth of women-owned businesses, facilitating their active participation in the...
View ArticleMultiChoice rejects ‘under valued’ Canal+ offer
Multichoice, Africa's leading broadcasting conglomerate, has rejected a takeover bid from French corporation Canal+. Canal+, Vivendi's owned pay-TV provider, made a non-binding purchase bid that did...
View ArticleBotswana denies approval for Musk’s Starlink
Botswana has denied approval for Elon Musk's Starlink to operate in the country, a decision that comes just before its planned launch in Q4 2024.
View ArticleAfrican mining to woo foreign investors’
As the race for valuable commodities intensifies, it is increasingly evident that geopolitical competition will catalyse a wave of Mergers and Acquisitions (M&A), reshaping the landscape of...
View ArticleZambia to restructure US$1,5bln Glencore debt
Zambia has agreed to restructure a US$1,5 billion debt owed by Mopani Copper Mines to Glencore, which arose from its acquisition of Mopani in 2021, state-owned mining firm ZCCM-Investment Holdings has...
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