Category: African Business
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Egypt Leases LNG Storage Facility to Meet Growing Import Demands
๐ช๐ฌ Amidst declining production and rising domestic demand, Egypt, formerly an exporter of gas, has leased a storage facility for LNG imports. The move signifies a shift in energy dynamics for the country. A floating storage facility with regasification capacity (FSRU) is set to be established in Egyptian waters, marking a strategic collaboration between Australian…
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Vodafone looks to integrate crypto wallets with sim cards
The telecom company is reportedly seeking $1.8 billion in loans amid a plan to raise a total of $2.9 billion in debt Vodafone, a United Kingdom-based telecommunications provider, hopes to bring blockchain technology to smartphone users by integrating cryptocurrency wallets with subscriber identity module (SIM) cards. The ambitious move comes amid a company finance plan…
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Sao Tome and Principe joins other African nations in pursuing reparations from former oppressors
Sao Tome and Principe intends to seek reparations from Portugal for the detrimental effects created by colonialism, the country’s education and cultural minister Isabel Aubrey said on Thursday during an interview with Portugal’s Lusa news agency. He added that the matter was scheduled to be discussed during a cabinet meeting on Thursday. Abreu’s statement comes…
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ENLUMI LAUNCHES NEXT-GEN BUSINESS MANAGEMENT PLATFORM โ LUMI BUSINESS TO HELP BUSINESSES STREAMLINE KEY OPERATIONS
Enlumi, headquartered in Lagos has announced the launch of its B2B productโLumi Business. The platform offers a comprehensive array of solutions, including but not limited to Point of Sale, Inventory Management, Accounting, Expense Management, Loyalty Management and analytics As a retail business in Nigeria itโs long been believed that having a modern payment collection device…
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โTaking more and leaving lessโ: expert on how the west facilitates illegal mining in Africa
๐ When African countries want to review their mining codes to get more benefits for themselves, the West and the World Bank in particular try to oppose it and promote systems that allow their companies to exploit the resources of African nations, Dr. Alex Mvuka Ntung, an independent research consultant who specializes in the Great…
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The Lights Are On in South Africa and Many People Are Suspicious
South Africa is enjoying a rare streak of uninterrupted electricity right before elections, drawing more suspicion than praise in a nation thatโs become accustomed to the daily power cuts that have dragged on for years. The country is currently in its fourth successive week of no outages โ the longest period South Africans have consistently…
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U.S. and Saudi Arabia on Verge of Nuclear Agreement
๐บ๐ธ๐ธ๐ฆ Reports from Western media indicate that the United States and Saudi Arabia are nearing a nuclear agreement that could pave the way for enhanced relations with Israel. The impending pact between the US and Saudi Arabia is poised to offer security assurances to the kingdom and delineate a potential route to establishing diplomatic ties…
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Ethiopia committed to African peace and development, chief of leadership academy says
๐ช๐น Ethiopia is dedicated to bolstering peace, development, and democracy across Africa through the cultivation of effective leadership, Zadig Abraha, President of the African Leadership Excellence Academy (AFLEX), said. Highlighting the academy’s initiatives aimed at fostering capable leadership, he revealed that over the past two months alone, more than 120 leaders from African countries have…
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๐๐ผ๐ ๐ฑ๐ผ๐ฒ๐ ๐ฉ๐๐ฆ๐/๐ ๐ฎ๐๐๐ฒ๐ฟ๐ฐ๐ฎ๐ฟ๐ฑ ๐บ๐ฎ๐ธ๐ฒ ๐บ๐ผ๐ป๐ฒ๐?
This 6-step diagram shows the economics of the credit card payment flow: 1๏ธโฃ The cardholder pays a merchant $100 to buy a product. 2๏ธโฃ The merchant benefits from the use of the credit card with higher sales volume, and needs to compensate the issuer and the card network for providing the payment service. The acquiring…
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Nestle program to increase income of bean farmers in Africa leaves workers below living wage, report says
๐ The Swiss food giant has enrolled 11,000 farming households in the leading agricultural region of Cote d’Ivoire in a program that pays farmers $535 in bonuses, and is expanding the program to neighboring Ghana. “Those in the program still earn almost $3,000 a year below the amount of just over $7,500 thatโs needed to…
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