Telkom To Undertake in Controversial ‘All White’ Restructuring Process
Race will be one of the factors considered by Telkom during its controversial restructuring process, the trade union Solidarity said on Monday (23 June). Telkom announced earlier this month that it plans to cut 4,400 jobs through voluntary severance packages or voluntary early retirement packages. It also confirmed that 3,400 employees will be transferred to […]
Africa Discovers Financial Muscle of The Crowd
Budding South African film producer Meg Rickards was struggling to raise the money for her new feature film, Whiplash, when she came across the idea of crowdfunding. “We had about 70% of the budget and were battling to raise the rest,” she remembers. Meg decided to try local South African crowdfunding site Thundafund, and launched […]
Angola’s Luanda, the most expensive city for ‘expats’
For the third year in a row Luanda, the capital of Angola, has held its grip on the title of being the most expensive city in the world for privileged migrant workers commonly known as expats So Mercer, the reputed global research body, released its 2015 Cost of Living Rankings which names the most (and […]
China Loans Zambia US$29 Million for Infrastructure
The China Development Bank (CDB) and the Zambia-China Economic & Trade Cooperation Zone (ZCCZ) have signed a loan of 29 million U.S. dollars to improve infrastructure at its Lusaka Park, a senior Chinese bank official has said. The improvement of infrastructure at the ZCCZ was aimed at providing a better development platform for enterprises in […]
Ziscosteel Revival – Ball Now in Essar’s Court
THE ball is now in Indian firm Essar Africa Holdings’ court to deliver after government removed all obstacles hindering the US$750 million deal to revive the now defunct Ziscosteel, which was once part of the economy’s backbone. In an interview with the Zimbabwe Independent on Wednesday, Mines and Mining Development minister Walter Chidhakwa said government […]
Botswana Inflation Rate Drops
Statistics Botswana has released Consumer Price Index (CPI) figures for May 2015 with inflation rate standing at 3.0 per cent, indicating a significant drop compared to 4.5 per cent recorded in May 2014. Statistics Botswana acting principal statistician, national accounts and prices, Mr Phaladi Labobedi, told a press conference recently that the national inflation rate […]
Kenya shuts Al-Shabab-linked money transfer firms
Kenya’s government has ordered the closure of 13 money transfer firms to prevent militant Islamists from using them to finance attacks, the interior minister has told the BBC. The bank accounts of 85 individuals and “entities” had also been frozen, Joseph Nkaissery added. Those targeted include a Somali-linked bus company and hotel. An assault by […]
U.S. to feature a woman on its currency notes
The U.S. plans to feature a woman on its currency notes for the first time since Martha Washington adorned silver certificates more than a century ago, the Treasury Department said. Treasury Secretary Jacob J. Lew and his advisers will solicit public comment at town hall meetings and other events in coming months about the planned […]
Global conflicts ‘cost $14.3tn’, 13% of world GDP
Conflicts around the world cost $14.3tn (£9.1tn) last year, 13% of world GDP, says a survey on global peace. That amount is equivalent to the combined economies of Brazil, Canada, France, Germany, Spain and the United Kingdom, the report by the Institute for Economics and Peace (IEP) said. The divide between the most peaceful and […]
Zimtrade to Release Zambia Market Research Findings
ZimTrade will disseminate findings of the Zambia Market Research on June 25 in Harare and June 26 in Bulawayo,. The research, conducted in April this year, was aimed at generating specific information on possible export products to consider for the Zambian market. In addition, the research gathered other market-related intelligence, which would enhance the prospects […]
