News

[South Africa] Absa PMI for July signals improvement in the manufacturing sector

08-05-2020 | 08:27:00
The Absa Purchasing Managers’ Index (PMI) for July declined slightly compared to the previous month, but continued to signal a further month-on-month improvement for conditions in the manufacturing sector.

Nigerian Breweries earns ₦151 billion revenue, ₦5.7 billion profit for first half of 2020

08-05-2020 | 07:22:00
Nigerian Breweries has announced a Revenue of ₦152 billion for the period under review and Profit After Tax (PAT) of ₦5.7 billion according to its unaudited and provisional results filed with The Nigerian Stock Exchange.

World Bank approves $100m to improve decentralized services, management of extractive sector in Niger

08-04-2020 | 06:42:00
The World Bank approved a $100 million financing from the International Development Association (IDA) credit and grant to strengthen local governments’ capacity and extractive sector management in Niger.

[Ghana] COVID-19 forced businesses reduce wages for over 770,000 workers, caused 42,000 layoffs, study

08-04-2020 | 06:35:00
The shock caused by the COVID-19 pandemic has had considerable impacts on Ghanaian businesses, forcing many firms to cut costs by reducing staff hours, cutting wages, and in some cases laying off workers.

COVID-19 raises urgency for structural reforms in South Africa, study

08-03-2020 | 08:59:00
South Africa responded swiftly to the COVID-19 pandemic, but the sharp drop in activity adds to long-standing challenges and raises the urgency for structural reforms, according to a new OECD report.

Trade Pact could boost Africa’s income by $450 billion, World Bank reports

07-27-2020 | 13:54:00
The African Continental Free Trade Area (AfCFTA) represents a major opportunity for countries to boost growth, reduce poverty, and broaden economic inclusion, a new World Bank report has found.

Malawi's new economic analysis forecasts slow growth due to COVID-19, report

07-24-2020 | 08:11:00
Malawi’s three-year trajectory of increasing economic growth has been interrupted by the global COVID-19 (Coronavirus) pandemic, but the full extent of the pandemic’s negative impact is still uncertain as the crisis unfolds, says World Bank.

African Development Bank-funded training builds skills for economy of the future in Ghana, report

07-22-2020 | 05:51:00
A six-year project to develop industrial skills among Ghana’s workforce has improved the engineering and manufacturing skills of young people, promoted economic competitiveness and contributed to an improvement in the quality of life.

Eight out of every 10 voters eager for December elections, Ghana Election Poll shows

07-21-2020 | 11:53:00
Less than five months to Ghana’s general election and despite the coronavirus pandemic that continues to devastate global economies and households, Ghanaians are upbeat about participating in the electoral process.

Global gas flaring jumps to levels last seen in 2009, data

07-21-2020 | 09:44:00
Estimates from satellite data show global gas flaring increased to levels not seen in more than a decade, to 150 billion cubic meters (bcm), equivalent to the total annual gas consumption of Sub-Saharan Africa.

East Africa holds its ground as Africa’s fastest growing region despite COVID-19 disruption, AfDB

07-13-2020 | 06:03:00
Economic disruption caused by the COVID-19 pandemic has pushed East Africa’s growth projection for 2020 down to 1.2 percent, a rate that outstrips other African regions and is forecast to rebound to 3.7 percent in 2021, according to the AfDB.

Digital technologies could help Uganda’s economy recover faster, report

07-09-2020 | 06:50:00
Uganda’s real gross domestic product (GDP) growth in 2020 is projected to be between 0.4 and 1.7% compared to 5.6% in 2019, according to the latest edition of the Uganda Economic Update released by the World Bank.

Africa’s growth stands to rebound to 3% in 2021, report

07-08-2020 | 08:29:00
Africa’s growth stands to rebound to 3% in 2021, provided that governments manage the COVID-19 infection rate well, African Development Bank says in African Economic Outlook 2020 Supplement.

Zambia has good foundation to use digital tools for economic transformation, World Bank report

06-26-2020 | 13:57:00
The Zambia Digital Economy Diagnostic, a new report developed by the World Bank, finds that Zambia is making significant strides towards the use of digital tools to achieve the social and economic transformation goals set forth in its Vision 2030.

Nigeria’s economy faces worst recession in four decades, World Bank report

06-26-2020 | 07:11:00
The collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s, according to the latest World Bank Nigeria Development Update (NDU).
 
Features

[Column] Olagoke Aluko: Liquefied Petroleum Gas (LPG) regulations lead the way in reshaping consumer behaviour and industry in Kenya

08-22-2019 | 08:26:00
Kenya has paid a heavy price in lives lost for its slow uptake of LPG as a cooking fuel.

[Nigeria Business Week] Industries partner to reach common goals

01-10-2019 | 10:57:00
The sectors are revving up to keep up momentum as the 2019 opens new doors for Nigeria’s stride toward economic balance.

[SA Business Week] Key sectors appointments and a busy air route

10-05-2018 | 16:19:00
October is already proving to be a great month for the South African business and economy, maybe even greater. With only a week into the month, three South Africans have been appointed for senior positions in the ICT, aviation and engineering sectors.

[Nigeria Business Week] With Construction, Agribusiness, Oil and Gas and startup hubs, Nigeria leaves no sector behind

05-24-2018 | 13:15:00
Two years ago Nigeria was as good as drowning in debts, unemployment, reduced investment and general widespread discontent. Today, though still a work in progress, the country has exited recession and is fast regaining its momentum.

[Startup Interview] Renaldo Bothma, Managing Director, HomeFixer, South Africa

05-21-2018 | 11:34:00
Renaldo Bothma is a professional rugby player and founder of a new app, Homefixer, an app to help fix any household related issue at the push of a button.

[Column] Gilbert Saggia: Data - the fertilizer that will feed Africa's agricultural transformation

03-27-2018 | 13:27:00
Everywhere we look, technology is being touted as the enabler of a new era of African agricultural prosperity. The exciting world of possibilities offered by blockchain, IoT and machine learning has made companies, governments and policy-makers sit up.

[Column] Benjamin Coetzer: Combating cloud’s biggest security risk - the user

03-20-2018 | 10:54:00
Cloud is coming into its own. Forrester says that public cloud platforms, business services, and applications will reach $236B by 2020.

Nigerians seek next level shopping experience - Nielsen findings

10-16-2017 | 07:45:00
Despite Nigeria’s retail sector being dominated by independent formats like Open Markets and Kiosks in terms of absolute store numbers, modern trade formats like Supermarkets and Hypermarkets are stepping up to fulfil the needs of consumers.

[Column] Frances Okosi: The rise of renewable energy across Africa

06-01-2017 | 10:12:00
The extent of the power deficit across Africa is well documented and increasing electricity generation across the continent is the focus of a number of initiatives at both national and supra-national level.

Africa presents a mixed foreign direct investment picture - EY Africa Attractiveness report

05-03-2017 | 07:33:00
According to EY’s latest Africa Attractiveness report, heightened geopolitical uncertainty and “multispeed” growth across Africa present a mixed FDI picture for the continent.

[Column] Brett Parker: Between East & West, Africa's economic transformation will create a third centre of global power

04-19-2017 | 10:06:00
What a difference a century makes. If we stepped back in time to a hundred years ago we'd find a primitive China; a Middle East that had yet to discover the riches of oil and most of Southeast Asia consisted of countries that were barely distinguishable from medieval societies.

Casablanca and Nairobi rank leading destinations for Fortune 500 companies establishing international headquarters

04-18-2017 | 09:44:00
The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 companies, according to a new report released by Infomineo, a global business research company specialising in Africa and the Middle East.

Powering Africa's Transformation - Tony Elumelu, Aliko Dangote, Carlos Lopes

04-14-2017 | 07:34:00
Africa has a bright future ahead of it. Productivity and growth will improve as African economies continue to place more emphasis on services and manufacturing, pursue commodity production, and achieve quick gains in agriculture and light industry.

Economic growth in East Africa remains strong despite drought - Report

04-14-2017 | 07:17:00
East Africa's economy has continued to grow despite the adverse effects of drought being felt across the region according to ICAEW's (the Institute of Chartered Accountants in England and Wales) latest report.

[Column] Jaco Lotz: Growth in middle class drives private education boom in Africa

04-04-2017 | 12:38:00
Private universities and schools are mushrooming across Africa, as parents increasingly seek a quality education for their children outside of the state offering - a move which is largely attributable to the rapid growth of the middle class on the continent.