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Motorbike taxi firms rev up for race into West Africa

By: Reuters     12th June 2019 Motorcycle taxi companies are expanding in West Africa with backing from investors betting that the meteoric rise of two-wheeled taxi firms in Asia can be replicated in some of the fastest growing countries in the world. Four bike taxi firms are now battling it out on the streets of Nigeria's... 

SAA's Jarana quits over lack of State support

By: Bloomberg     3rd June 2019 South African Airways (SAA) CEO Vuyani Jarana quit the financially stricken State-owned company, citing a lack of funding and drop in government support for the carrier’s turnaround plan. The former Vodacom Group executive was brought in about 18 months ago to lead a recovery at the airline,... 

American Tower to buy Eaton Towers in $1.85bn Africa push

By: Bloomberg     31st May 2019 American Tower agreed to buy Eaton Towers for about $1.85-billion including debt as one of the few international providers of telecommunications infrastructure expands in the fast-growing African market. Both companies have sites in countries such as Ghana and Kenya, and the deal will enable... 

Airtel Africa looks at $1bn London listing

By: Reuters     28th May 2019 Airtel Africa, a subsidiary of Indian telecoms group Bharti Airtel, is considering a stock market flotation in London, it said on Tuesday, part of efforts to expand its data and mobile money services across Africa. The company is aiming to raise around $1-billion in a June equity offering, a... 

Huawei’s market share surges despite smartphone shipment slump

By: Natasha Odendaal     24th May 2019 Despite a “deeper” decline – for the sixth consecutive quarter – of smartphone shipment volumes during the first quarter of 2019, Chinese brand Huawei has accelerated its sales, surpassing Apple as the number two in terms of market share worldwide. Market intelligence and advisory services firm... 

Trade tensions put global economic growth on a 'subpar' setting

By: Bloomberg     21st May 2019 Trade tensions have derailed the global economy, plunging it onto a low-growth track that’s clouded by risks, according to the OECD’s latest outlook. The report sticks to the gloomy tone long held by the Paris-based organization, which has warned that trade disruptions could ricochet throughout... 

Zimbabwe starts rolling power cuts, hitting mines, industry

By: Reuters     13th May 2019 Zimbabwe has started rolling power cuts lasting up to eight hours that will also hit mines, a schedule from the State power utility showed on Monday, after reduced output at both the largest hydropower plant and ageing coal-fired generators. The power cuts will add to mounting public anger... 

Capital markets in Africa are evolving

By: Jessica Oosthuizen     3rd May 2019 Africa’s financial and capital markets are on a “path of evolution” and this is impacting on foreign investment and competition on the continent, says exchange trading platform 4 Africa Exchange (4AX) business development head Noah Greenhill. The evolution of the markets is creating... 

SAA agrees debt rollover deal in principle – CEO 

By: Reuters     30th April 2019 State-owned South African Airways has reached an agreement in principle with lenders to roll over $642-million of debt, its CEO said on Tuesday, giving him room to execute a turnaround aimed at weaning the airline off government bailouts. President Cyril Ramaphosa has made a point of supporting... 

IMF slates unpredictable policies in report Tanzania blocked

By: Bloomberg     23rd April 2019 The International Monetary Fund said that Tanzania’s economy is being harmed by the government’s “unpredictable and interventionist policies” in a report whose release the East African country has blocked. Tanzania refused to authorize the publication of the report, the IMF said Wednesday in a... 

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