Sri Lankan companies eye Africa as next investment destination, says Stax
Businessam Staff
August 1, 2017
STAX Inc, a strategy consultancy, says as African economies continue to grow, more opportunities will open up for Sri Lankan firms in areas such as tourism, hospitality education, and green energy. “Service industries such as retail, banking, and healthcare can also expand into to Africa to take advantage of the growth in the services sector,” […]
British American Tobacco faces Africa fraud probe
Businessam StaffAugust 1, 2017
Britain’s Serious Fraud Office has opened a formal investigation into possible historic misconduct by British American Tobacco (BAT) in Africa, the company said Tuesday. The maker of tobacco brands including Dunhill and Lucky Strike said it has been investigating a number of allegations of misconduct, that were originally made towards the end of 2015, through […]
Moody says South Africa’s central bank under increasing political pressure
Businessam StaffJuly 31, 2017
South Africa’s central bank is under increasing political pressure to maintain “expansionary” monetary policy, Moody’s Investors Service said as the regulator prepares to challenge an instruction to change its mandate. The High Court in Pretoria will on Tuesday hear the Reserve Bank’s application to review an the Public Protector’s order that lawmakers must change the […]
Africa wants greater representation in IMO’s Council, says AAMA’s Dakuku
Businessam StaffJuly 31, 2017
Dakuku Peterside, Chairman, Association of African Maritime Administration (AAMA), has called for increased representation of the continent in the International Maritime Organization (IMO), Council and its Secretariat. Dakuku who made the appeal when he led a delegation of some members of AAMA Executive Committee to meet with Kitack Lim, IMO’s Secretary General, at the Organization’s […]
China’s connection to Africa’s rising technology industry grows stronger
Businessam StaffJuly 30, 2017
It’s a match made in business heaven: Chinese technology companies hungry for expansion are diving into the less-developed African continent, where several countries are targeting double-digit economic growth. Iginio Gagliardone, a lecturer in media studies at the University of Witwatersrand in South Africa, told CNBC via telephone that the Middle Kingdom’s expansion into Africa has […]
China leads way in Africa’s rising technology industry
Businessam StaffJuly 28, 2017
It’s a match made in business heaven: Chinese technology companies hungry for expansion are diving into the less-developed African continent, where several countries are targeting double-digit economic growth. Iginio Gagliardone, a lecturer in media studies at the University of Witwatersrand in South Africa, told CNBC via telephone that the Middle Kingdom’s expansion into Africa has […]
Zimbabwe’s economy reacts positively to Internet payments
Businessam StaffJuly 28, 2017
Zimbabwean companies including Delta Corp Ltd. and BAT Zimbabwe Ltd. have seen their fortunes turn as cash-strapped consumers start to embrace electronic payments for goods and services. Delta, Anheuser-Busch InBev SA/NV’s brewing operations in the southern African country, reported a 12 percent rise in lager volumes in the three months through June, the first increase […]
China protects investments as it warns Botswana ahead of Dalai Lama visit
Businessam StaffJuly 26, 2017
China stepped up its warning to Botswana on Wednesday over a planned visit by exiled Tibetan spiritual leader the Dalai Lama next month, demanding the African nation respect China’s core interests, Reuters reports. The Dalai Lama, reviled by Beijing as a dangerous separatist, is expected to address a human rights conference in the capital, Gaborone, […]
Mexico economy minister eyes multiple rounds of NAFTA talks
Businessam StaffJuly 23, 2017
There could be between six to nine rounds of negotiations between the United States, Canada and Mexico in the event a quick deal is reached on a revamp of the North American Trade Agreement, Ildefonso Guajardo, Mexican Economy Minister said. Guajardo told reporters in Mexico City on Friday the NAFTA members were looking at avoiding […]
Kenya’s latest mobile phone bond falls short of target
Businessam StaffJuly 21, 2017
An innovative Kenyan bond which is bought via mobile phone had raised far less than the 1 billion shillings ($9.6 million) targeted on Friday, failing to match a previous success. In March, the East African nation became the first country to issue a mobile phone-based bond, which can be bought by phone users without the […]