Hello Zuma, time to pay back! South African President Jacob Zuma should refund taxpayers for about 7.81 million rand ($510,000) spent on upgrading his private rural home, the National Treasury said.
Saving DSTV. Naspers want the decline in subscription numbers to stop. It has, therefore, frozen prices in Africa.
Fighting for broadband leadership. Liquid Telecom, majority owned by Econet Wireless Global, agreed to pay 6.55 billion rand ($428 million) to Tata Communications Ltd. for South African Internet-service provider Neotel Pty Ltd. to create the continent’s largest broadband network and business-to-business telecommunications service.
Innovation in Africa. GE has launched its first innovation centre in Africa in Johannesburg, South Africa. The R500 million ($33 million) facility is the first GREEN and LEED certified GE building in Sub-Saharan Africa and will be GE’s centre of excellence (COE) for innovation in Africa.
Nigeria’s ‘potential deal’. Nigeria is seeking $40 billion to $50 billion in investment in oil projects as the OPEC producer said it raised crude output to as much as 1.9 million barrels a day.
The impact of Brexit on oil. Oil traded near $48 a barrel as market volatility continued after the U.K. last week voted to leave the European Union.
Agility expands in Africa. Agility, a leading global logistics provider, has formed a joint venture in South Africa with Super Group, a Johannesburg-based supply chain management and transportation specialist, after acquiring a minority stake in Super Group’s freight forwarding unit.
CFAO sells 60% stake in SGI Africa. SGI Africa develops and operates shopping centers primarily through its PlaYce brand. The company opened its first PlaYce shopping center in Côte d’Ivoire at the end of 2015 (PlaYce Marcory, Abidjan) and aims to expand into seven other West and Central African countries.
Cashless Zimbabwe, anyone? There have been great arguments in favour of a cashless society and very good ones against, but regardless of the side you lean towards, what would you advise a country struggling to get cash?
Kenya preparing to pump oil. Kenya will start the construction of an 865-kilometer (538-mile) crude oil pipeline linking fields in its northern region to a new port being built along its Indian Ocean coastline within two years, a government official said.