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South Sudan has run out of cash and the economy will not be fixed unless the ongoing civil war is brought to a halt. President Salva Kiir openly admitted as much on Wednesday and acknowledged that peace and stability had to return...
By Staff Reporter Zimbabwe’s President Emerson Mnangagwa has directed all his ministers and other senior public officers to declare their assets as a way of enhancing transparency in public service. In a letter signed by Chief Secretary to the President and...
By Staff Reporter A COURT in Namibia has convicted and fined a Chinese national for smuggling timber from Zambia into that country. According to a statement from the Anti Corruption Commission (ACC) in Namibia, Shi Linjiang, 39, was fined 20, 000...
Leading fast-food chains in Zimbabwe have shut their doors as the cash crunch in the country worsens - just two months after President Emmerson Mnangagwa won elections. KFC put up notices at its branches in the capital, Harare, and the...
Finance Minister Malusi Gigaba announced increases in VAT and other taxes to generate an additional R36-billion this financial year. Delivering his 2018 budget speech in Parliament on Wednesday, Gigaba said it was a tough but hopeful speech. From April 1, the value-added tax (VAT) rate...
By Staff Reporter NAMDEB, a joint venture between Namibia’s government and Anglo American’s diamond unit De Beer, is about to lay off at least 130 of its 1,700-strong workforce as a part of steps to optimise the diamond miner’s business. According...
Standard Chartered Chief Executive Bill Winters saw his 2017 pay package bumped up 38 percent to 4.68 million pounds ($6.53 million) on Tuesday, as the bank reported a surge in full-year profit and resumed paying dividends. The bank also increased its...
By Web Master The government of Botswana is working on guidelines to restrict importation of cement in order to create more local jobs.   Trade minister Bogolo Kenewendo, said this when addressing the media yesterday in Gaborone.   Kenewendo said research has shown that...
Liberia’s President George Weah said he would seek to remove what he termed a racist clause in the country’s constitution that restricts citizenship to black people, and pledged to take a pay cut in a dire economy. Freed slaves from...
The Federal Government has approved an amendment to the excise duty rates for alcoholic beverages and tobacco products. The approval, according to the Minister of Finance, Kemi Adeosun, was given by President Muhammadu Buhari, and would take effect from June 4,...
Tunis – THE second annual conference on Pan-Africanism Today held in the Tunisian capital, Tunis in early July heard that projections indicate Africa will by the year 2130 surpass Asia in contributing to the world population estimated to be...
HSBC, the UK’s largest bank, said on Thursday that it also had the largest gender pay gap among large banks. Women are paid a staggering 59 percent less than men, on average, according to the difference in hourly pay last...
Cash-strapped South African Airways (SAA) is set to make dramatic cuts in order to get its house back in order, news agency Reuters reports. Chief executive Vuyani Jarana, who has been in the job just six months, told the agency...
Zimbabwe stuck on Monday to its plan to clear its debt arrears by September with the aim to tap international capital markets by the end of the year, though that timeline would be ‘very fast-tracked.’ Zimbabwean officials met with investors in New...
By Web Master   The fund says Argentina's economy will shrink by 2.6 percent in 2018 because of austerity measures, and global growth is contracting from trade wars.   The International Monetary Fund (IMF) said Tuesday that the Latin American economy will grow less than expected,...
More than 300 workers at Furnmart and Home Corp’s 34 branches in Namibia were yesterday set to decide on a group-wide strike, following a dispute over working conditions, BusinessWeek has established. Furnmart, headquartered and listed in Botswana, is a leading...
In a major foreign policy shift, the United Kingdom (UK) is teaming up with Standard Chartered Bank to lend Zimbabwean companies US$100 million, the first direct commercial loan to the country’s private sector in more than 20 years. In an...
Britain would collapse if it tried to pay back the money it drained from India, eminent economist Utsa Patnaik said at a conference at Jawaharlal Nehru University, New Delhi on Wednesday. Delivering the inaugural lecture at the three-day Sam Moyo...
U S cable giant Comcast offered to buy Sky for $31 billion in an unsolicited approach, taking on Rupert Murdoch’s Fox and Bob Iger’s Walt Disney in the battle for Europe’s biggest pay-TV group. The world’s biggest entertainment company, which...
Air France-KLM chief Jean-Marc Janaillac has announced his resignation after French staff at the strike-hit airline rejected a new pay deal. "I accept the consequences of this vote and will tender my resignation to the boards of Air France and...
Choppies Group has dismissed 30 more employees, who embarked on a protest two months ago. Choppies Chief Executive Officer, Ramachandran Ottapathu said the employees' contracts were not renewed following the recent strike workers had gone on, protesting their low salaries. Ottapathu...
South African Human rights lawyer Richard Spoor is launching a class action lawsuit against Tiger Brands, Enterprise’s parent company, for the listeriosis outbreak. Speaking on radio 702, Spoor said though there was overwhelming evidence to prove that contamination happened at the...
The European Union  on Thursday suspended imports of Brazilian meat products, mostly poultry, in a move that affected 20 plants in the South American nation that had been authorised to export to the EU, according to a European Commission statement. “I was...
By Staff Reporter  The Mozambican government has suspended operations of a Chinese mining firm that had risked the lives of over 1, 000 inhabitants of a village close to the Indian ocean. About a month ago, global human rights watchdog, Amnesty...
By Staff Reporter Members of South Africa’s National Union of Metalworkers at the Witwatersrand University in Johannesburg have today staged a strike demanding a 12 per cent wage increase and an end to outsourcing. NUMSA spokesperson Phakamile Hlubi – Majola stated...
Electric carmaker Tesla, facing pressure on a number of fronts, is asking shareholders for a show of support for chief executive Elon Musk. The firm has called a special meeting this month for investors to vote on a 10-year compensation...
By Staff Reporter Botswana Commercial and General Workers Union has threatened to take the South African retail giant, Choppies, to task if it goes ahead with plans to fire about 15 more employees who were part of a group, out...
Morocco – A SOCIALIST revolutionary movement in Morocco’s volatile Rif region says it holds the tyrannical monarchical state responsible for the repressive backlash against a population fighting for dignity, freedom and social justice. In a solidarity petition signed by representatives...
By Staff Reporter Female employees earn up to 43.5 per cent less at Barclays than men, according to gender pay gap figures the bank has submitted to the United Kingdom government, the British Broadcasting Corporation reports. According to the BBC report,...
By Staff Reporter Kenya Revenue Authority (KRA) officials have intercepted gold worth 100 million Kenyan Shillings (about US$1 million) at the Jomo Kenyatta International Airport in the capital Nairobi. According to Kenya’s Standard Media, at least 32, 255.50 grams of gold bars...
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