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Tag: Business

Africa Business World 

Facebook-owner Meta to cut 11,000 staff

Elwin Mandowa, , , , , , ,
Mr Zuckerberg said the company would focus on high-priority growth areas, like artificial intelligence, advertising, and “our long-term vision for the metaverse”. Meta will also cut costs elsewhere – including reducing its spending on buildings and offices, and increasing desk-sharing. Affected Meta employees will receive an email soon, he said, and will have an opportunity to ask questions. US employees… Read More
Africa Business World 

Ten countries commit to sustainable commodities in Africa

Elwin Mandowa, , , , ,
– – Ministers from ten African countries will today sign the Africa Sustainable Commodities Initiative Declaration, a single set of principles for the responsible production of agricultural commodities in Africa. The Africa Sustainable Commodities Initiative (ASCI) puts producer countries in Africa at the forefront of defining the principles for the sustainable development of cocoa, rubber, palm oil, coffee and other commodities,… Read More
Africa Business World 

Growing Popularity of eGaming and Online Gambling in Africa

Elwin Mandowa, , , , , , , , , ,
– – For bettors and gamblers, African nations are rising to the top of the list of prospective locations for 2022 and beyond. Mobile gambling is still expanding its footprint in Africa, where it already has a sizable portion of the industry. There were around 184 million internet users in Africa as of August 2022, according to Statista, with the majority… Read More
Africa Business East Africa World 

Kenya Airways strike disrupts flights as passengers get stranded

Elwin Mandowa, , , , , , , ,
– – Thousands of flights have been disrupted and passengers stranded following pilots strike at Kenya Airways. Kenya airways is one of Africa’s biggest carriers but has been facing some challenges forcing Saturday’s strike, despite the government urging them to call it off. The pilots union have called the strike over a dispute on pensions contributions and settlement of deferred… Read More
Africa Business China Nigeria News and Headlines West Africa World 

Nigeria’s first deep seaport built by China

Elwin Mandowa, , , , , , , ,
– – Nigeria’s first deep sea port in the city of Lagos has been handed over to the government after its completion. Built by the China Harbor Engineering Company Ltd (CHEC), the huge project is expected to boost the country’s maritime sector. The Lekki Deep Sea Port is the largest seaport in Nigeria, and one of the biggest in West… Read More
Africa Business World 

Opinion: The fall of the Euro, a boon for investors

Elwin Mandowa, , , , , , , , ,
– – For the first time in two decades, the US dollar and the Euro hit parity in July 2022. The currency, shared by 19 European countries, has slumped more than 11 per cent since the beginning of this year. But the weakened Euro holds great economic significance for businesses as well as individuals, especially those earning and spending in… Read More
Africa Business World 

Elon Musk completes Twitter takeover in $44bn deal

Elwin Mandowa, , , , , , ,
Chief financial officer Ned Segal, and the firm’s top legal and policy executive, Vijaya Gadde, are leaving alongside Mr Agrawal, according to US media reports. – – The completion of the deal brings to an end months of legal wrangling, but the deal has prompted questions over the platform’s future direction. The CEO of electric car maker Tesla Inc has… Read More
Africa Business South Africa Southern Africa World 

5 reasons to trade with a ZAR account forex broker

Elwin Mandowa, , , , , ,
– – It’s necessary to register with reputable brokers who provide ZAR-denominated accounts if you want to start trading on the South African foreign exchange market. The Rand (ZAR), which serves as the nation’s official currency, enables South African Forex brokers to perform all required financial transactions. In order to offer convenience and flexibility to traders from South Africa, a… Read More
Africa Business Ghana West Africa World 

Ghana: Ruling party MPs demand the sacking of the finance minister

Elwin Mandowa, , , , , , , ,
– – Members of parliament from Ghana’s ruling party on Tuesday asked the country’s president, Nana Akufo-Addo to sack his finance minister. The blame the finance minister Ken Ofori-Atta and one of his deputies for eroding the confidence in the country’s economy. The MPs told reporters in Accra that sacking the finance minister who is also the President’s cousin will… Read More
Africa Business East Africa World 

Uganda’s Kasasa community gets savings and credit cooperative support

Elwin Mandowa, , , , , ,
– – Members of the Ugandan Kasasa community are benefiting from a savings and credit cooperative support to improve their livelihoods. The project by the InteRoots Initiative, a Denver, United States-based nonprofit organization with supporters from around the globe, has provided nearly $500,000 in unrestricted funding to the community for the project. The savings and credit cooperative has over 120… Read More