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Zimbabwe Banks, companies under probe

Zimbabwe Banks, companies under probe

The Zimbabwe Anti-Corruption Commission is setting up a special investigating team to focus attention on companies and banks involved in shady deals in violation of the country’s laws. The team will also target retailers and food outlets who do not bank cash. Most of them are reportedly channelling the cash into the parallel market. Addressing […]

Zimbabwean Duo Find A Fortune In Their Backyards

Zimbabwean Duo Find A Fortune In Their Backyards

Where most youngsters would opt for a business degree before stepping into business, Ropafadzo Zimunya and Munashe Musarurwa did it the other way around. In a small town named Mutare in Zimbabwe, just out of high school, the now 20-year-olds looked inwardly for inspiration, and found it in their backyards. The co-founders of a company […]

Parastatal reform crucial in a new Zimbabwe

Parastatal reform crucial in a new Zimbabwe

HARARE – Among the plethora of problems that will face the new government when it is sworn in and starts work, is the urgent issue of reform of the 105 State-owned enterprises (SOEs) that are currently managed by line ministries on behalf of taxpayers who are the owners or shareholders. Few other issues will demand […]

Energy Giant Eskom Posts U.S.$170 Million Loss

Energy Giant Eskom Posts U.S.$170 Million Loss

Eskom suffered a net loss of R2.3bn in 2018, compared with a R0.9bn profit the previous year, the state-owned power producer revealed at its financial results presentation on Monday. CEO Phakamani Hadebe said the poor results were compounded by allegations of corruption and mismanagement, challenges of governance and negative investor sentiment. The power utility said […]

Ethiopian to Resume Flights to Asmara

Ethiopian to Resume Flights to Asmara

Ethiopian Airlines disclosed that it has finalized preparations to resume daily flights to Asmara, Eritrea as of July 17 with the most technologically advanced commercial aircraft, the Boeing 787. The flight resumption follows agreements reached in Asmara between Prime Minister Dr. Abiy Ahmed and Eritrean President Isaias Afewerki. CEO of Ethiopian Airlines, Tewolde Gebremariam said […]

New Rwanda Bean Coffee Company Opens in U.S.

New Rwanda Bean Coffee Company Opens in U.S.

A new Rwandan owned coffee shop and roaster has officially opened its doors in South Portland, a city in Cumberland County, Maine, United States. The shop was founded by Mike Mwenedata; a 32-year old Rwandan who lives in the US. According to the Rwandan Embassy in the USA, the new business – Rwanda Bean Coffee […]

Heroin is Mozambique’s Second Biggest Export

Heroin is Mozambique’s Second Biggest Export

Mozambique is a significant heroin transit centre and the trade has increased to 40 tonnes or more per year, making it a major export which contributes up to $100 mn per year to the local economy. For 25 years the trade has been controlled by a few local trading families and tightly regulated by senior […]

DNS.pt transfers management of Sao Tome and Principe domain to AGER

DNS.pt transfers management of Sao Tome and Principe domain to AGER

The DNS.pt association signed a protocol of cooperation with the Sao Tome and Principe General Regulatory Authority (AGER) for the re-delegation, transfer, deployment, maintenance and management of the Sao Tome and Principe internet domain (.st). In a statement, AGER said it intends to obtain the redemption of the top level domain corresponding to Sao Tome, […]

Meet Nthabeleng Likotsi, the Woman Set to Become South Africa’s First Black Female Bank Owner

Meet Nthabeleng Likotsi, the Woman Set to Become South Africa’s First Black Female Bank Owner

Nthabeleng Likotsi is on course to establish the first black women-owned bank in South Africa. Her aim is for the bank to empower black female entrepreneurs with the financial support they lack. “I asked myself what it meant to be a young black woman in South Africa. Truth is that not much is happening for […]

Isocel to Launch First Ftth Service in Benin, First in Capital Cotonou and Then More Widely

Isocel to Launch First Ftth Service in Benin, First in Capital Cotonou and Then More Widely

London — FTTH roll-outs have slowly been made in a range of African countries but the recent news that Isocel will roll-out an FTTH service in Benin is a clear sign that even in smaller markets users will not miss out. Russell Southwood spoke to Robert Aouad, Founder and CEO, Isocel Telecom about his plans. […]

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