News : Business

Mastercard partners DPO Group to boost Pan-African merchant payments

Mastercard and Africa’s payment service provider, DPO Group have announced a collaboration to enable over 40,000 African merchants to accept Mastercard payments, connecting more people and businesses to the global economy. The collaboration will enable DPO to act as a Pan-African switch by using the Mastercard Payments Gateway Services (MPGS). DPO will now be able [&hellip (

Cisco commits to training 1 million Africans

At the Global Citizen Festival South Africa 2018, Cisco announced its commitment to training 10 million people worldwide for jobs in the digital economy, including 1 million in Africa over the next five years. The Chairman and CEO of Cisco, Chuck Robbins gathered with government officials as well as businesses in Johannesburg to share commitment [&hellip (

Power cuts hit South Africa, hurting economy

South Africa's troubled power utility on Tuesday implemented power cuts nationwide, intensifying concern about growth in one of Africa's biggest economies. (

What 2019 has in store for South Africa’s ICT space

South Africa’s 2018 Q2 and Q3 negative economic growth means that the country’s economy is in a technical recession. And while Business Services is one sphere showing growth (of 1.9%, along with Finance and Real Estate), this does not mean that the ICT sector – a major partner and supporter of business in the digital [&hellip (

The opportunity cost of doing business for SMEs in Africa

The African economy has gathered momentum over the years, with an estimated increase of 3.8% of the real output growth in 2017. As the largest economies gradually strengthen, the 2018/2019 performance should reach 4.1% according to the African Development Bank. This economic growth and sustainable development has largely been contributed by Small and Medium Enterprises [&hellip (

Local Content Craze Fuels Box Office Boom in Nigeria

Powered by growing demand for local content and a rapidly expanding theatrical sector, Nigeria is expected to hit box-office highs in 2018, with the industry on track to shatter the record it set last year. As Africa’s largest economy continues to rebound from recession, bizzers are bullish that steady gains in recent years will continue […] (

Youth employment critical for Africa’s economic growth

Despite Africa’s impressive growth in past 25 years and its entry into the digital economy, the job market continues to be in a depressed state as youth unemployment continues to rise. Africa has the largest population of young people in the world, some 200 million aged between 15 and 24, accounting for 60% of all [&hellip (

IT and the Green economy identified as future-orientated businesses in South Africa

South African SMEs are estimated to represent 90% of formal businesses, provide employment to about 60% of the labour force and contribute approximately 34% of the country’s GDP. In an effort to further grow this sector and boost a struggling economy, J.P. Morgan has been supporting a number of companies to conduct in-depth research into [&hellip (

South African Finance Minister Resigns

South Africa’s finance minister resigned after admitting links to a family at the heart of a corruption scandal, dealing a blow to President Cyril Ramaphosa’s plans to stamp out graft and rejuvenate Africa’s most-developed economy. (

The need for apparel manufacturers in Kenya and South Africa to become super vendors

After marking its presence in 15 countries, ThreadSol is all set to explore the African apparel industry to transform manufacturers to super vendors. This move comes at a time where the president of Kenya has decided to dedicate his energy in achieving the big four agenda as a way to improve the economy of Kenya and [&hellip (

South Africa needs a grounded approach for the Fourth Industrial Revolution

South Africa needs to whittle the discussion down to an understanding on the one hand of what is happening in technological changes and relate that to the structure of the South African economy The Industrial Development Advisor at the Department of Trade and Industry (the dti), Dr Nimrod Zalk says a grounded approach is needed [&hellip (

Big data ushers South Africans into financial inclusion

Financial inclusion allows lower-income South Africans to participate in the economy, and big data is providing the foundations for innovation strategies to get them there. Financial inclusion is crucial to the progress and upliftment of South African citizens. According to the Banking Association of South Africa, financial inclusion means accessing and using a broad range [&hellip (

Digital skills for a digital economy

While South Africa shows excellent potential to lead Africa in the fourth industrial revolution (Industry 4.0), private business, government and educational institutions will need to work together to upskill the nation adequately for this new, digital economy. Some of the many topics up for discussion during the World Economic Forum (WEF) Roundtable, hosted by President [&hellip (

Secure payments the way to boost flagging African GDP

African GDP (Gross Domestic Product) growth continues to fall short of the magic 5% annual figure often given as the number needed to make a substantial dent in poverty. In South Africa, again officially the continent’s biggest economy, growth went negative in the first quarter of this year. In erstwhile promising Nigeria, GDP contracted a [&hellip (

Africa: Open for Investments

The future is bright for Angola’s economy and investment opportunities. Just recently, government leaders unanimously passed revisions to the country’s Private Investment Law, which supports Angola’s diversification efforts in job opportunities and trade. This is particularly helpful when there are price fluctuations in oil, metal, and other commodities that are top sources of revenue for [&hellip (

Women hold the key to unlocking R175 billion for South Africa’s economy by 2022

Women who want to start their own businesses have the potential to boost the South African economy by R175 billion, according to new research released today by Facebook. The study, conducted by Development Economics on behalf of Facebook* also reveals that if all the women who said they were ‘very likely’ to start a business [&hellip (

Ethiopia's PM Abiy Ahmed sets up team to advise on privatisation

Since becoming prime minister in April, 41-year-old Abiy Ahmed has turned Africa's most populous after Nigeria on its head with his plans to reshape politics and the economy. (

Why identity verification matters for mobile operators in Africa

According to the 2017 Mobile Economy Report of the GSM Association, Africa currently has 420 million unique mobile subscribers representing a 43 percent penetration. By 2020, the Report predicts that 500 million Africans will be mobile subscribers, making it the fastest-growing mobile market. Perhaps more important, smartphone connections have doubled in Sub-Saharan Africa to nearly [&hellip (

Economy 'delicate,' but nothing to fear: World Bank

World Bank Vice President for the Middle East and North Africa Ferid Belhaj said Monday that Lebanon's economic situation was delicate, but dismissed the notion that there was reason to fear it. (

MTN drives growth of women in ICT sector

The future is increasingly digital, yet women are under-represented in this high-growth sector of the economy. South Africa’s Communications Minister, Mmamoloko Kubayi-Ngubane, recently spoke about the fact that women’s participation in the local information and Communications Technology (ICT) sector is “woefully low”. UN reports show participation at less than 30% in the sector globally, but [&hellip (

Smart Ports: unblocking the biggest barrier to Nigeria’s economic growth

Africa’s largest economy is struggling with ports infrastructure that simply can’t keep up with demand. Nigeria imports a very high proportion of its consumer goods. Ships descend on the major ports at a relentless pace, serving the almost 200 million people in Nigeria, and much greater numbers in the surrounding regions. Major ports like the [&hellip (

Visa partners Ivorian government to bring e-payment solutions (

Africa:Mali Joins Call for Increased Efforts to End the Plight of Child Undernutrition

[African Union] The economy of Mali is losing 265 billion CFA francs (US$450 million) - more than 4 percent of annual GDP - to the effects of child undernutrition, a multi-agency study has found. The Cost of Hunger in Mali (COHA), blames the losses on increased healthcare costs, additional burdens on the education system and, further down the line, reduced workforce productivity. (

South Africa:Land Issue, the ANC's Brexit Moment

[Daily Maverick] What does it mean when a democracy with a free market and open economy, globally traded currency and import-orientated consumer base, decides to debate the suspension of property rights as if it is a legitimate option? Well, it means we are again at a crossroads as a country. (

Africa:Sustaining Momentum in Uncertain Times - Policy Priorities for the Global Economy

[IMF] Czech National Bank, Prague, June 28, 2018 (

Africa:Foreign Doctorates Are Attractive - but Don't Write Off Homegrown Phds

[The Conversation Africa] Introducing more skilled employees into the economy is an important path to development for many middle income countries. That's why increased and improved training at the top end of the education level - PhDs - is considered so vital. (

South Africa:Zuma Only Person Who Can Unite Blacks, Indians in Province - Religious Leaders

[News24Wire] A group of religious leaders have roped in former president Jacob Zuma to lead a prayer campaign "against crime as an enemy of the economy" and to help improve race relations between black and Indian people in the province. (

Technology offers retailers respite in shrinking economy (

We Are Happy With the Management of Economy - Alexandre Maymat, Societe Generale Group

[Ghanaian Times] Director of International Banking of Africa, Mediterranean Basin and Overseas (AFMO) of the Societe Generale Group, Alexandre Maymat who made the observation noted that indicators such as inflation and interest rates that had gone down in recent times gave impetus for investment especially into the country's financial sector. (

South Africa:World Wi-Fi Day - SA Digital Divide a Concern

[CAJ News] Johannesburg -THE inaugural World Wi-Fi Day has been commemorated amid concerns over the digital divide in South Africa, the continent's most advanced economy whose democracy is also seen as a model for Africa. (

South Africa:Minister Welcomes Proposed Sea-Based Aquaculture Development Zone in Saldanha Bay

[Govt of SA] The Minister of Agriculture, Forestry and Fisheries, Mr Senzeni Zokwana, welcomes the green light received on the proposed sea-based Aquaculture Development Zone (ADZ) in Saldanha Bay, Western Cape. This enhances sustainable aquaculture expansion in Saldanha Bay. It will further contribute towards the realisation of the aquaculture aspirations of Operation Phakisa: Oceans Economy in terms of job creation, increased primary production, increased GDP contribution and inclusive growth of the sector. (