Zambia determined to find another investor for Konkola mine – mines minister

An aerial view shows Konkola mine project launched by Zambian President Levy Mwanawasa in Chililabombwe,500km (300miles) north of the capital Lusaka, Zambia, file. REUTERS/SALIM HENRY LUSAKA (Reuters) – The Zambian government is determined to “urgently secure” an investor for Konkola Copper Mines (KCM) once the court processes over the disputed liquidation of the mine are concluded, the mines minister said on Thursday. Vedanta Resources has been locked in a dispute with the Zambian government since May when Lusaka appointed a liquidator to run KCM, which is 20% owned by Zambia’s…

Read More

Unlocking Value In The Sub-Saharan Africa Mobile Market

Mobile network operators can avoid the challenges more mature markets have experienced by focusing on their customers. Mobile phone operators in Sub-Saharan Africa (SSA) are playing on borrowed time. Robust network investments, cheaper smartphones and data, and a rapidly expanding population of connected youth have fueled strong growth for the US$60 billion SSA mobile market. But as the market matures, operators risk falling into the “doom scenario” that has plagued their counterparts around the globe: saturated markets, an uneven response to evolving consumer preferences, and falling revenues. The SSA mobile…

Read More

The Impact Of Liberation On Rwanda’s Economy

[embedded content] This year was the 25th since the Rwandan Patriotic Front liberated the country, stopping the 1994 genocide against the Tutsi. During the period, special focus was put on reconciliation and economic revival. CNBC Africa is an African television network for Sub-Saharan Africa. It was launched by CNBC and Africa Business News LTD on June 1, 2007. CNBC Africa is headquartered in Sandton, Johannesburg. source: https://www.africa.com/the-impact-of-liberation-on-rwandas-economy/

Read More

U.S.-China trade war, Brexit uncertainty pose risks to Africa’s economic prospects-AfDB boss

The U.S.-China trade war and uncertainty over Brexit pose risks to Africa’s economic prospects that are “increasing by the day,” the head of the African Development Bank (AfDB) told Reuters. The trade dispute between the world’s two largest economies has roiled global markets and unnerved investors as it stretches into its second year with no end in sight. Britain, meanwhile, appears to be on course to leave the European Union on October 31 without a transition deal, which economists fear could severely disrupt trade flows. You have Brexit, you also…

Read More

Prepare and Profit: How to Financially Succeed in A Global Recession

The world is on the cusp of a Global Recession. In the United Kingdom, Brexit could lead to economic misery, chaos at ports, grounded flights and food shortages according to analysts. In the United States, an ego-driven trade war with China and another unsustainable economic bubble is setting the nation up for a downturn. And when the white economy catches a cold, the Black economy catches the flu. In fact, the last Great Recession in the United States smashed 33% of Black wealth – and none of it has come…

Read More

Uganda’s Byanyima to lead UNAIDS

Uganda’s Winnie Byanyima will serve as the new executive director for UNAIDS, overseeing the efforts of some 11 different United Nations agencies and their global partners united in the fight to end HIV/AIDS. Byanyima said she’s pleased to accept the position at such a critical time for UNAIDS.  “The end of AIDS as a public health threat by 2030 is a goal that is within the world’s reach, but I do not underestimate the scale of the challenge ahead,” she said. “Working with all its partners, UNAIDS must continue to…

Read More

South African stocks approach six months low as recession fears rise

People chat in front of a reception with an electronic board displaying movements in major indices at the Johannesburg Stock Exchange building in Sandton Johannesburg, March 14, 2016. REUTERS/Siphiwe Sibeko/File Photo JOHANNESBURG (Reuters) – South African stocks slipped to a near six-month low on Wednesday after the U.S. Treasury bond yield curve inverted for the first time since 2007, reflecting concerns over the outlook for the world’s biggest economy. Both of the country’s major stock indexes weakened more than 2% following the inversion in the U.S. debt market, a situation…

Read More

e-Logistics Start-up Kobo360 secures $30M funding

Kobo360, the digital technology platform disrupting African third-party logistics, today announced the completion of a $20M Series A equity round led by Goldman Sachs, with participation from Asia Africa Investment and Consulting Pte. and existing investors including TLcom Capital, Y Combinator, the International Finance Corporation. An additional $10M in local currency working capital financing has been secured from Nigerian commercial banks. Launched in 2017 by Nigerian entrepreneurs Obi Ozor and Ife Oyedele II, Kobo360’s tech-enabled full truckload offering enables the development of an efficient supply chain for end-to-end long-haul freight…

Read More