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Category: African Business

Ethiopia’s Mega-dam Significantly Boosts Power Output

Ethiopia has significantly increased electricity production from the Grand Ethiopian Renaissance Dam (GERD) on the Blue Nile, more than doubling its output from 750 megawatts to 1,550 megawatts after two additional turbines became operational. The dam, now fully transitioned from construction to operation, has long been a point of contention with downstream nations Egypt and…
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August 30, 2024
Ghana to launch ‘monster mines’ to boost gold production

Africa’s top gold producer Ghana will commission its first large-scale greenfield mine in more than a decade in November, with expected annual production of more than 350,000 ounces, the head of its mining sector regulator said. Ghana, the world’s number two cocoa producer, has seen gold exploration slump over the past decade, limiting new projects…
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August 30, 2024
Namibia denies entry to a ship possibly carrying Israeli arms

Local media reports that Justice Minister Yvonne Dausab demanded that the ship Kathrin, set to enter the port of Walvis Bay in Namibia, be denied entry. The Namibian government has not disclosed the type of military cargo potentially on board the Kathrin or the port where it was loaded.
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August 30, 2024
South Africa investigates alleged $7B corruption at state-owned companies

South Africa has active investigations into alleged corruption totalling more than $7 billion at some of its top state-owned companies, according to a report published Tuesday by the national anti-graft unit. The investigations are not new, and some have been running since 2018, and all of them were cited by the Special Investigative Unit (SIU)…
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August 30, 2024
Top 10 SaaS Companies of the World

Explore the top 10 SaaS companies in the world Software as a Service (SaaS) has revolutionized the way businesses operate, providing scalable, cloud-based solutions that enhance productivity, streamline workflows, and foster innovation. Over the past decade, the SaaS industry has grown exponentially, with numerous companies emerging as global leaders in this dynamic field. In this…
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August 30, 2024
Liberia: Weah Reports Boakai to Ecowas

Former President George Weah has penned a letter to the President of the ECOWAS Commission, Omar Alieu Turay, raising concerns over what he describes as the recent violent attack on the Coalition for Democratic Change (CDC) headquarters by Liberian security forces. Weah asserts that this attack is part of a series of actions taken by…
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August 30, 2024
Libya’s El Feel oilfield halts production, engineers say

Libya’s El Feel oilfield has halted output, say engineers, as closures spread amid a standoff over control of the central bank and the country’s oil revenue. On Monday authorities in the east of the country where most of its oilfields lie threatened to close them all, stepping up their standoff with the country’s internationally recognised…
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August 30, 2024
Food security fears as rain stays away in northern Cameroon

Northern Cameroon faces a dramatic drop in rainfall and farmers are suffering. “There is very little rain. On the millet field, everything is already dry. Last year I harvested between 7 and 8 bags per car, but this year, as you’ve seen, it hasn’t rained,” said one farmer. “Behind me here is the maize field…
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August 25, 2024
Egyptian start-up turns plastic waste into tiles

TileGreen, which started three years ago, aims to make the country’s construction industry more environmentally friendly. The young entrepreneurs at the start-up are combatting two problems. The country’s huge levels of plastic waste and high levels of emissions from cement used in the building sector. “We invented a technology and an industrial process whereby we…
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August 25, 2024
Ethiopian Banks Under Pressure as Foreign Competition Looms

The liberalization of the exchange rate for the birr last month has shaken up the banking sector. The country’s 32 banks will now have to adapt to the arrival of new lenders and some may not survive. Foreign banks, long eager to enter the Ethiopian market, are now more motivated than ever. The recent exchange…
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August 25, 2024