Building Africa’s Biggest Data Centre
Teraco has secured R2.5 billion in financing for the construction of its new 38MW data centre in Ekurhuleni, South Africa. The facility is called JB4 and will be the largest data centre in Africa once it is built. The company said these funds will be used together with its own money to finance the building […]
Easing the Fears of Zambia’s Mining Firms
Zambia isn’t looking to take over more mining companies, nor is the government planning to nationalise the industry, according to finance minister Bwalya Ng’andu. The government has acquired Glencore and Vedanta’s local operations in the past two years. Remarks by President Edgar Lungu in December that Africa’s second-biggest copper producer wanted to take “significant stakes” […]
A Portal Aimed at Connecting Freelancers from across Africa to Businesses Globally
The traditional form of hiring and working has seen a drastic change, especially during this pandemic, paving the way for the growing popularity of freelancing in Africa. Employees who are currently engaging with their employers remotely or are unemployed are constantly exploring the need to have multiple income streams. Increasingly, businesses are hiring freelancers and […]
Another Step to Bringing Sudan in from the Cold
Faisal Islamic Bank of Sudan (FIB), one of the country’s largest lenders, has become the first indigenous bank to obtain a card issuing and acquiring license from US firm Mastercard. The branded cards – either debit, credit or pre-paid – can be used online, in stores and at ATMs across the globe. The partnership is […]
Forecasts Paint a Bright Future for Africa’s Diversified Economies
Sub-Saharan Africa will see moderate but positive growth of 2.7% this year, a welcome rebound from the region’s first recession of 25 years in 2020 when the region shrank by an estimated -3.7%. But 2021 is probably going to be just as tough for African economies as it was in 2020. Last year, there was […]
Previously Disadvantaged Players Get to Own a Piece of Coca-Cola
Coca-Cola Co. is planning to sell a stake in its South African bottling unit to local non-White investors in a deal worth about $669 million, in line with an agreement with local regulators. The move helps the U.S. drinks giant comply with South Africa’s policies that prescribe minimum holdings in companies for Blacks and minority groups […]
The Largest Bitcoin Market in Africa Stops Trade
Nigeria’s central bank ordered deposit-taking banks and other financial institutions to immediately close accounts transacting in or operating cryptocurrency exchanges, saying such deals are “prohibited.” Failure to comply with the directive will result in “severe regulatory sanctions,” according to a circular sent to financial institutions on Friday and published on the central bank’s website. The […]
The First African to Lead the World Trade Organization
The path has been cleared for Nigeria’s Ngozi Okonjo-Iweala to become the first woman and African after South Korea’s candidate pulled out of the race for the job. Yoo Myung-hee, the South Korean trade minister, announced her decision to withdraw in a televised briefing on Friday. Okonjo-Iweala, an economist and former finance minister of Nigeria, already enjoyed broad support from WTO […]
Interview With Nigerian Emcee Fecko Winner Of The Mic Africa Music Competition
Nigerian emcee, Fecko, took an eleventh-hour lead in the Take Back the Mic app charts, emerging as the show’s winner. As the leader among both fans and Celebrity Champions alike, he wins $25,000 and a VIP trip for two to Kigali, Rwanda, courtesy of the Rwanda Convention Bureau. Fecko recently spoke to Africa.com about his […]
Africa Travel Do’s & Don’ts Amid COVID-19
By Merilee Kern As COVID-19 wreaks havoc across the globe, tourism-dependent regions are suffering exponentially. The continent of Africa is one glaring example, with South Africa propelled into the global top 10 for coronavirus infections, reportedly now surpassing the United Kingdom in cases. For its part, the tourism and industrial sectors in North Africa will likely be hardest hit […]
