Updates on trends of various African markets, including stock markets, real estate, commodities, and more.
In a recent financial move, SoftBank wired $1.5 billion to Goldman Sachs and other lenders just days before WeWork’s bankruptcy filing, marking a significant chapter in one of the most challenging venture capital investments for the Japanese conglomerate. This latest payment brings SoftBank’s total commitment to WeWork to over $16 billion since its initial investment … Read more
In a bid to enhance cooperation and boost revenue through increased port operations, Sao Tome has expressed interest in utilizing Takoradi Port as a transshipment corridor for cargoes from other countries. This potential collaboration signifies a strategic move that could benefit both nations and deepen economic ties. Key Development Adelino Cardoso, the Minister of Infrastructure … Read more
The global cocoa market is poised for a significant upswing in the coming years, according to a recent market report by Allied Market Research based in Portland, Oregon. Driving Factors Rising Chocolate Demand Worldwide The report highlights the anticipated rise in market value, driven primarily by the increasing demand for chocolates worldwide, with a particular … Read more
Exciting news on the digital front – Paystack, the powerhouse of payment solutions, is spreading its wings and touching down in Côte d’Ivoire, Egypt, and Rwanda. What’s Cooking with Paystack? Hold onto your e-wallets because Paystack is all set to collaborate with a stellar lineup of businesses, ushering in a new era of seamless transactions. … Read more
In a remarkable financial stride, Fidson Healthcare Plc has announced a profit before tax of N1.18 billion in Q3 2023, showcasing a notable year-on-year growth of 8.5% compared to the corresponding quarter in 2022. Revenue Surge and Stellar Growth The group’s Q3 2023 revenue stood impressively at N14.79 billion, reflecting an exceptional 33.9% year-on-year growth … Read more
In a groundbreaking move, Kenya proudly introduced its first local smartphone assembly plant, East Africa Device Assembly Kenya Limited (EADAK), in a ceremony graced by President William Ruto. Industry Collaboration for Affordability EADAK, a joint venture involving local Mobile Network Operators such as Safaricom Jamii Telecommunications and Chinese firm Shenzhen TeleOne Technology, emerged as a … Read more
British Airways is taking its commitment to providing enhanced services to new heights, particularly for travelers departing from Accra. This week marks a significant development as the airline introduces an additional route from Accra to London Gatwick, complementing the existing daily flights to London Heathrow. New Horizons: Accra to London Gatwick Passengers now have more … Read more
South Africa’s National Treasury discloses its most substantial budget deficit since 2004, signifying a profound imbalance between government expenditures and revenues. The national debt has soared to R143 billion ($7.54 billion) by July 2023, surpassing economists’ forecasts. Causes of the Deficit Projected Budget Deficit The budget deficit is anticipated to reach 6.5% of GDP in … Read more
The recent report by the GSM Association (GSMA) and the UK’s Department for Business and Trade sheds light on the impact of e-commerce on micro, small, and medium enterprises (MSMEs) in Africa. While the potential for growth is evident, the continent lags in fully leveraging the e-commerce opportunity. The report, launched during MWC Kigali, unveils … Read more
Greetings, eco-enthusiasts and financial wanderers! Today, we embark on a journey to demystify Verra carbon credits. For those of us still wrapping our heads around this whole ‘carbon credits’ business, fear not—I’ll break it down. Does Verra Sell Carbon Credits? Not exactly. Verra, my friend, is more like the guardian of the carbon credit kingdom. … Read more