Oil has recovered but supply still outweighs demand. The oil market rout of the past two years may finally have bottomed out as supply outages in Nigeria, Iraq and the United Arab Emirates (UAE) reduced OPEC output. This is good news for Africa, but have we seen the last of cheap crude?
South Africa risks junk rating as economy continues dip. Ratings agency Moody’s will determine whether it should downgrade the credit rating of Africa’s most advanced economy which has been struggling lately, with widening current account deficit amid declining exports.
Did Nike bribe Athletics Kenya? The American sportswear company agreed to pay Kenyan Athletic Federation an annual sponsorship fee of $1.3 million to $1.5 million. In addition to this, it also agreed to pay $100,000 honorarium each year and a one-time $500,000 “commitment bonus.”
When you hire a former U.S. Attorney General. Eric Holder is doing his job. He’s about to help MTN Nigeria get off with just $1.5 billion out of a $3.9 billion fine. The Nigerian authorities are yet to say whether MTN’s latest offer is acceptable.
Robert Mugabe is a changed man. The Zimbabwean president is trying to make all the right choices, hoping to end his presidency on a good note (when he eventually leaves). He wants to compensate farmers for seized land.
Devaluation is elitist; say no to it! Governor of Nigerian northern state Kaduna, Nasir el Rufai says devaluation has never brought any good, as calls for the devaluation of the naira continue. But not having an exchange rate policy is discouraging investors, a member of the central bank’s monetary policy committee argues.
Before it makes another record loss, Kenyan Airways needs to be saved! Sub-Saharan Africa’s third-largest airline, is planning a $690 million restructuring program that includes reducing its fleet and cutting staff.
When the biggest lender curbs credit granting. FirstRand says it will rein in lending in response to to an increase in defaults.
IHS to acquire Helios Towers. IHS Holding Limited, the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East today announced it has agreed to buy Helios Towers Nigeria Limited (HTN).
Electric vehicles are here to stay, but Africans will be left out for now. According to the international energy Agency (EIA) 620 million people live without access to electricity in Africa and those that have it do at a high price. Africans do not have enough power to charge electric vehicles.