AFRICA

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Biyo-Adde town in Somalia comes back to life after liberation from Al-Shabaab

Business activity has resumed in Somalia's Biyo Adde, a town in the Shabelle region, just a month after liberation from Al-Shabaab militants. The town was recaptured after a combined effort from the Somali National Army...

Egypt’s poorest struggle to find rice amid hoarding

Rice is a staple food in Egypt, gracing many dinner tables in the north African state. However the country is staring at a food shortage following a government decision not to store surplus rice. While rice...

Egypt’s gov’t adopts more flexible exchange rate after devaluation

Egypt's Central Bank has devalued the pound and said it would move to a more flexible exchange rate policy to ease foreign exchange shortage. The Egyptian currency will now trade at 8.85 to the dollar,...

Business ideas celebrated at the South Africa Entrepreneur Awards

South Africa's Gauteng province has launched the country's first ever Township Entrepreneurs Awards. It's an initiative by the Gauteng Department of Economic Development and it aims to support and drive the province's Township Economy Revitalisation...

SA’s Finance minister conducts road shows in Europe, USA

South Africa's Finance minister Pravin Gordhan held a briefing at the Johannesburg stock exchange, on his hastily convened investor road show to the UK and USA, last week. His non-deal investor roadshow came against a...

Zimbabwe’s reserve bank seeks to make commercial banks attractive again

Zimbabwe's Central Bank has launched a strategy that aims to make banking services attractive to the majority unbanked population by 2020. A 2014 survey showed that only 30 percent of the country's adult population made...

Anglo-South African firm Old Mutual to split up into 4 operations

Anglo-South African financial services group, Old Mutual plans to split into four main businesses. The company has blamed the possible changes to the regulatory environment in Europe and South Africa that have made the company...

Foreigners and locals throng Almond festival in Morocco with new products showcased

The taste of the Tafraoute almond is known all over Morocco and justifies an annual celebration, not only of the almond, but also argan oil and other products of the region. The Almond Blossom Festival...

Prices of soft drinks in South Africa to go higher from April 2017

In last month's budget speech, Finance Minister Pravin Gordhan announced that a sugar tax would be imposed as of 1 April 2017. The tax will be felt on everything from fizzy drinks to flavoured water...

Ethiopia plans to rake in $1b from coffee exports

The home of Arabica coffee, Ethiopia recently hosted the 4th World coffee Conference bringing together thousands of coffee buyers, farmers and policy makers. The conference was organized for the first time in African soil. Girum Chala...