Africa is home to seven of the 10 fastest growing economies globally. This section of Biznews targets existing and potential investors into the African continent. Editors curate the most important news about African business, infrastructure development and investment, including emerging market essentials, trade and development, economic insights, SADC, ECOWAS and EAC region reports.
A former chief executive at failed South African furniture retailer Ellerines is now heading Zimbabwe’s largest fast food and retail group, Innscor Africa, but is having to shuttle between the two countries because he has no work permit.
Bharti Airtel’s planned disposal of mobile phone towers in Africa will see it sell masts in Tanzania to Helios Towers, while units in Malawi will go to Eaton Towers, a person with knowledge of the deal said on Wednesday.
China’s “no strings attached” aid is being abused by African leaders who channel the lion’s share of funds to their home areas, U.S.-led researchers found in the first geo-referenced database of Chinese aid to the world’s poorest continent.
Tiger Brands Ltd, South Africa’s biggest consumer goods maker, took another write off charge at its money-losing Nigerian unit, it said on Wednesday, as it posted an 11 percent increase in full-year profit.
Iron ore tumbled to the lowest in more than five years as declining home prices in China added to concern of an economic slowdown.