Africa Business News
Daily news insights and analysis of the African business Landscape, covering from emerging startups to macroeconomics from across the 55 African Union member states com.
Episodes
April 22, 2024 • 1 min
President Joe Biden has been urged to ban imports of Chinese-made electric cars to the US. The chair of the Senate Banking Committee, Senator Sherrod Brown, wrote that Chinese electric vehicles are an existential threat to the American auto industry. The White House earlier said the US was opening an investigation into whether Chinese cars pose a national security risk. Senator Brown says China will not be allowed to bring its g...
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April 22, 2024 • 52 secs
Togo's parliament has given final approval to a new constitution extending the president's term after critics denounced the move as a coup. The West African country will move from a presidential to a parliamentary system. President Faure Gnassingbé's supporters argue the changes reduce his powers by transforming the presidency into a ceremonial role. The opposition however says the reforms remove limits on his stay in office and...
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April 22, 2024 • 54 secs
Gauteng province, home to South Africa's major cities of Johannesburg and Pretoria, has officially scrapped tolls on freeways, ending more than a decade of public defiance. Gauteng Premier Panyaza Lesufi says that removing the charges would bring much-needed relief to the people of Gauteng who have had to bear the brunt of paying e-tolls. Transport Minister Sindisiwe Chikunga says that motorists with outstanding fees are expected...
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April 22, 2024 • 1 min
Military leaders in the West African nation have sought closer ties with Russia since seizing power in a coup last year. The US also announced that it had agreed to close down its drone base near Agadez, in the Sahara Desert. The US has relied on Niger as its primary base for monitoring regional jihadist activity. Niger has also distanced itself from local democracies and sought stronger regional alliances with fellow junta-led ...
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April 22, 2024 • 1 min
Ethiopia's first-ever sexual violence registration system is in the works and set to start operations next year, the government has said. The system which aims to prevent and respond to sexual violence against women and children is hoped to make an impact in a country where prosecuting gender-based violence is a major challenge. The anticipated system will hold sex offenders accountable even after they serve time for their crimes...
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April 22, 2024 • 1 min
The Nigerian Institute of Electrical and Electronic Engineers has called on the Federal Government to audit all power infrastructure assets in the country. President, Felix Olu advised against the backdrop of the recent poor electricity supply in the country despite an increment in electricity tariff recently announced for Band A customers by the Nigerian Electricity Regulatory Commission. The institute stated that the problems i...
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April 22, 2024 • 1 min
The President of the Nigeria Labour Congress confirmed that the new wage of N615,000 monthly was reached after consultations between the NLC and the Trade Union Congress. The labour unions say the current minimum wage of N30,000 can no longer cater for the well-being of an average Nigerian worker, lamenting that not all governors are paying the current wage award which will expire by April, five years after the Minimum Wage Act of...
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April 22, 2024 • 1 min
The Nigerian government plans to commercialise the Federal Mortgage Bank as part of efforts to enhance housing delivery efficiency for Nigerians. The FMBN Managing Director, Shehu Osidi, says the focus was shifted to repositioning and recapitalisation after a series of engagements with the Bureau of Public Enterprise on the need for the bank to stay true to its mandate of affordable mortgage financing. He says the task of advanci...
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April 8, 2024 • 56 secs
The EU will vote Wednesday on a vast overhaul of its immigration policies that would notably harden entry procedures for asylum-seekers and require all the bloc’s countries to share responsibility. The European Parliament will decide a series of laws forming the bloc’s migration and asylum pact, based on a European Commission proposal first made in September 2020. The European Union has been striking agreements with several outsi...
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April 8, 2024 • 56 secs
The EU will vote Wednesday on a vast overhaul of its immigration policies that would notably harden entry procedures for asylum-seekers and require all the bloc’s countries to share responsibility. The European Parliament will decide a series of laws forming the bloc’s migration and asylum pact, based on a European Commission proposal first made in September 2020. The European Union has been striking agreements with several outsi...
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April 8, 2024 • 57 secs
Crisis-hit Chinese property developer Country Garden has suspended trade in its shares on the Hong Kong Stock Exchange after delaying the publication of its annual financial results. Country Garden says due to the continuous volatility of the industry, the operating environment the Group confronting is becoming increasingly complex" when it announced its earnings report would be delayed. The firm reported a fall of more than 50% ...
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April 8, 2024 • 57 secs
Crisis-hit Chinese property developer Country Garden has suspended trade in its shares on the Hong Kong Stock Exchange after delaying the publication of its annual financial results. Country Garden says due to the continuous volatility of the industry, the operating environment the Group confronting is becoming increasingly complex" when it announced its earnings report would be delayed. The firm reported a fall of more than 50% ...
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April 8, 2024 • 1 min
New Zealand has tightened work visa rules in response to unsustainable migration levels. Low-skilled applicants now have to fulfil English-language requirements and are allowed to stay on for three years - down from five previously. Immigration Minister Erica Stanford says getting their immigration settings right is critical to this government's plan to rebuild the economy. Employers are responsible for ensuring that migrants me...
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April 8, 2024 • 1 min
New Zealand has tightened work visa rules in response to unsustainable migration levels. Low-skilled applicants now have to fulfil English-language requirements and are allowed to stay on for three years - down from five previously. Immigration Minister Erica Stanford says getting their immigration settings right is critical to this government's plan to rebuild the economy. Employers are responsible for ensuring that migrants me...
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April 8, 2024 • 1 min
A Brazilian Supreme Court judge has opened an inquiry into Elon Musk after the multi-billionaire said he would reactivate accounts on the social media platform X, formerly Twitter, that the judge had ordered to be blocked. Mr Musk posted on the platform that the restrictions had been lifted because the court order was unconstitutional. He also called for Justice Alexandre de Moraes to resign or be impeached. Justice Moraes wrote...
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April 8, 2024 • 1 min
A Brazilian Supreme Court judge has opened an inquiry into Elon Musk after the multi-billionaire said he would reactivate accounts on the social media platform X, formerly Twitter, that the judge had ordered to be blocked. Mr Musk posted on the platform that the restrictions had been lifted because the court order was unconstitutional. He also called for Justice Alexandre de Moraes to resign or be impeached. Justice Moraes wrote...
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April 8, 2024 • 1 min
Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for Zimbabwe Gold". Central bank governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. The ZiG replaces the Zimbabwean dollar, the RTGS, which had lost three-quarters of its value so far this year. Zimbabweans have 21 days to exchange old, inflation-hit notes for the new currency. Mr Mushayavanhu s...
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April 8, 2024 • 1 min
Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for Zimbabwe Gold". Central bank governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. The ZiG replaces the Zimbabwean dollar, the RTGS, which had lost three-quarters of its value so far this year. Zimbabweans have 21 days to exchange old, inflation-hit notes for the new currency. Mr Mushayavanhu s...
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April 8, 2024 • 56 secs
Sierra Leone's president has declared a national emergency over rampant drug abuse. Kush, a psychoactive blend of addictive substances, has been prevalent in the country for years. President Julius Maada Bio called the drug a death trap and said it posed an existential crisis. One of the drug's many ingredients is human bones - security has been tightened in cemeteries to stop addicts digging up skeletons from graves. With a ban...
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April 8, 2024 • 56 secs
Sierra Leone's president has declared a national emergency over rampant drug abuse. Kush, a psychoactive blend of addictive substances, has been prevalent in the country for years. President Julius Maada Bio called the drug a death trap and said it posed an existential crisis. One of the drug's many ingredients is human bones - security has been tightened in cemeteries to stop addicts digging up skeletons from graves. With a ban...
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