Zimbabwe’s troubles far from over. The Southern African country will face burden of stronger dollar for much longer, until the government clears its debts with global lenders and restores ties.
Nigeria’s ‘insane’ policy. Unilever’s Africa President Bruno Witvoet said it would be very insane if the largest economy in Africa continues its currency policy.
Strange move from Nigeria’s central bank. No one expected the Central Bank of Nigeria (CBN) to raise interest rates at a time the government is planning to pump in money into a struggling economy. Although under normal circumstances, hike in interest rates is always a good response to rising inflation.
Light up Uganda. Uganda power distributor Umeme Limited plans to invest 270 billion shillings ($80 million) this year in upgrading its network two years before the nation doubles its generation capacity.
The African e-commerce market is getting more interesting. African Internet Group used to be Africa’s e-commerce powerhouse, with top online stores like Jumia and Kaymu as subsidiaries. Ringier Africa is challenging for this space.
How do you get rid of those irritating online ads? An Israeli company seems to have all the answers. It has built a technology that blocks ads from the service provider’s end. No need to install ad blockers.
The great smartphone battle is coming to Africa. The American tech giant unveiled a range of smaller and cheaper iPhones with a starting price of $399, well below the standard $649 for top iPhone model, marking its entrance into Samsung’s forte.
Oil crisis forcing Algeria to diversify. As $40 oil brings slumping revenues, austerity, rising discontent and expanding debt, officials are stepping up efforts to diversify the economy.
Old bankers should go home. Egypt wants to give leadership opportunities to younger bankers. More than a fifth of Egyptian banks will be forced to change their top executive over the next 12 months after the central bank issued a nine-year term limit described as an effort to revitalize the industry.
Life is complicated, but scientists keep it simple. Scientists have used genetic manipulation to create a new organism, simpler than any known in nature today.
Uber launches in two important African cities. The taxi hailing service expanded to Kenya’s port city Mombasa and Nigeria’s capital city Abuja. But while it is sure to do well in Mombasa, it may have some challenges in Abuja.