Kenya supermarkets snub offer to buy S. Africa’s Game stores
By SAM KIPLAGAT South African retail giant Massmart, which operates the Game Stores, plans to shut down its three outlets in Kenya, after rival supermarkets snubbed sale offers, giving a new dimension to the troubles facing the supermarket business in the region. The firm has started talks with its staff ahead of the stores’ official
Strong start to 2022 for African capital deals
Africa’s private and venture capital markets are continuing to recover from the Covid-19 pandemic,… Africa’s private and venture capital markets are continuing to recover from the Covid-19 pandemic, according to a new report, although the global economic downturn remains a concern. A half-year report from The African Private Equity and Venture Capital Association (AVCA) has
Nigeria’s Economy in Trouble as China Reduces Lending to Africa
China has announced that it is scaling back lending to African countries amid global rising interest ratesReports say some African countries are having currency troubles, and some are already in defaultChina is Nigeria’s biggest lender, with a total indebtedness of $3.9 billion as of June 30, 2022 PAY ATTENTION: Сheck out news that is picked
Sub-Saharan Africa’s growth to drop to 3.3% this year, World Bank says
Sub-Saharan Africa’s economy is set to grow 3.3% this year, down from 4.1% in 2021, the World Bank said on Tuesday, due to slowing global growth, drought, increased risk of debt distress and rising inflation made worse by Russia’s war in Ukraine. The 2022 forecast was cut from a prediction of 3.6% made in its
How corruption cripples business at Africa′s seaports | Africa | DW
Samuel Adebisi, a clearing agent at Lagos Port in Nigeria, one of Africa’s busiest ports, says it is challenging to clear goods without paying a bribe to the customs officials. “Officials mount several illegal toll points where they extort money before any truck can move in or out of the port,” he told DW. In addition,
Game Store Finally Bows Out of Uganda
South African retail giant Massmart, parent company of Game Stores has said it has decided to fold business in Uganda after failure to find local investors to buy it. The South African company last year announced plans to sell their Kampala stores in order to recoup the money before exiting the East African country. ADVERTISEMENT
More headache for Nigeria as China reduces lending
China, Nigeria’s largest bilateral creditor, is rumoured to be reducing its loans in Africa in response to the continent’s deteriorating growth problems.Infomation Guide Nigeria The choice of the Asian juggernaut comes against growing opposition from the west and especially from African nationals. Bloomberg reported on Monday that the rising global interest rates and dwindling liquidity
Global payments fintech Ebanx eyes Nigeria, South Africa, Kenya for expansion
Ebanx, a global payments fintech company has announced plans to expand its operations and payments solutions for the first time in Africa. The 10-year-old Brazilian company which is already present in 15 Latin American countries revealed this last month, at the sixth edition of the annual Latin America Summit powered by EBANX in Mexico City.
Africa’s Business Heroes 2022 Top 10 Finalists Emerge
The 2022 edition of the Africa’s Business Heroes (ABH) Prize Competition has announced the top 10 finalists following an intense round of semi-finale business pitches and judging held on September 30 at the Kigali Convention Centre. Now in its fourth edition, Africa’s Business Heroes is a philanthropic initiative sponsored by the Jack Ma Foundation and
SADC Renewable Energy Entrepreneurship Support Facility for renewable energy entrepreneurs
Application Deadline: 13 November 2022 SADC RENEWABLE ENERGY ENTREPRENEURSHIP SUPPORT FACILITY 2023 CALL FOR APPLICATIONS (WITH FOCUS ON WOMEN AND YOUTH-LED ENTERPRISES) In the SADC[1] and Indian Ocean region[2], renewable energy entrepreneurs are at the forefront of efforts to extend access to modern energy services as they are often the best placed to offer tailor-made local