Africa in Business
In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.
SA seeks to strengthen cooperation with the US
South Africa's President, Cyril Ramaphosa, is in Washington, DC for a working visit with US President Donald Trump. The two heads of state are to meet to enhance the strategic relationship between the two countries. The South African government says the meeting will focus on strengthening cooperation. The African Growth and Opportunity Act (AGOA) and the Expropriation Act are set to top the agenda. For more on this, we are joined on the line by Casey Sprake, an Economist at Anchor Capital.
SA, France focus on expanding trade, investment, and exploring new areas of partnership
South Africa's Deputy President Paul Mashatile is in Paris on a working visit aimed at strengthening bilateral ties with France. The visit is expected to deepen cooperation between the two countries, with a strong focus on expanding trade, investment, and exploring new areas of partnership. This follows the recent 9th session of the France-South Africa Political Dialogue, co-chaired by International Relations and Cooperation Minister Ronald Lamola. Channel Africa business reporter Innocent Semosa has more.
Immigrants advised to settle their debts ahead of their travel
High unemployment rates, rising cost of living have led some people to consider emigration for financial reasons. However, before you decide to move abroad, it's important to understand the potential impact of your debt on your immigration status and outstanding debt might have legal and immigration consequences for you. Some of the questions you need to ask yourself are, can you leave your home country if you still have unpaid debt remaining? Will your visa be denied because of debt? What are the financial implications of going overseas with unpaid debt? Thami Ngubeni spoke to Benay Sager, Executive Head of DebtBusters.
Empowa Entrepreneurs Funding Summit to take place on May 30
Empowa Entrepreneurs Funding Summit, scheduled to take place on the 30th of May, is an event that provides a unique platform for 1,500 vetted entrepreneurs to explore funding avenues. One of their partner, Savant Technology Incubator, says it's committed to accelerating the commercialisation of deep-tech startups by strengthening the broader venture support ecosystem by cultivating strategic partnerships between startups, investors, corporates, and industry enablers. For more on this, we are joined on the line by the CEO of Savant Technology Incubator, Thabelo Ratshihule.
Enlit Africa aims to address the continent' pressing energy and water challenges through strategic discussions
Enlit Africa kicked off *today at the Cape Town International Convention Centre, in South Africa's Western Cape Province. The three-day meeting brings together over 6,000 delegates, including utility executives, policymakers, investors, and technology innovators. The event aims to address Africa's pressing energy and water challenges through strategic discussions, technological showcases, and investment opportunities. Now, Standard Bank's Business & Commercial Banking executives are participating in this year's event. Thami Ngubeni spoke to Manessah Alagbaoso - Executive Head, Business Ecosystems & Sustainability at Standard Bank
The National Bank of Ethiopia hosts the Ethiopia Finance Forum to discuss the future of Ethiopia's financial systems
The National Bank of Ethiopia (NBE) hosted the Ethiopia Finance Forum to enable policymakers, financial institutions, and development partners to align on the future of Ethiopia's financial systems and promote collaboration and investment opportunities. The two-day forum was part of the East African Country's transformative economic reforms to achieve macroeconomic stability, broaden financial inclusion, and accelerate digital transformation. Thabiso Lehoko spoke to Mered Fikireyohannes, Founder & CEO of Pragma Investment Advisory..
The banking and financial sector urged to cultivate smart partnerships that will impact beyond SA's G20 Presidency
South Africa's Minister in the Presidency responsible for Women, Youth and Persons with Disabilities says today's round table sought to foster inclusivity by engaging the banking and financial sector, along with corporate stakeholders, in G20-related discussions that have direct implications for South Africa during and beyond its G20 presidency. It also sought to forge and cultivate smart partnerships for unlocking inclusive economic participation opportunities. The round table was held in Johannesburg. Sisi Segalo has more on the story
Basic commodities are becoming more expensive in Uganda
In Uganda, food prices of basic commodities have risen sharply over the past few months. The Uganda Bureau of Statistics (UBOS) has attributed the increase to the recent extreme weather patterns. The rising food prices have put a strain on local households, forcing adjustments in spending habits, and forcing Ugandans to seek cheaper food alternatives, like maize flour and rice, which are less affected by price hikes. Thabiso Lehoko spoke to Channel Africa's Correspondent in Uganda, Mike Arereng
World Bank approves $350 million grant to support the Mpatamanga Hydropower Storage Project in Malawi
The World Bank's board of directors has approved a 350 million US dollar grant to support the Mpatamanga Hydropower Storage Project in Malawi, a landmark development expected to significantly boost the country's electricity generation capacity. The project, which will create thousands of jobs and provide power to over 1 million households, is the largest foreign direct investment in Malawi's history, with a total cost exceeding 1-point- 5 billion dollars. Meanwhile, the Malawian government says it has decided to suspend debt restructuring until after the September elections. Thabiso Lehoko spoke to Dr. Bertha Bangara Chakadza Bangara, the President of the Economics Association of Malawi.
Business Preview with SABC economics editor, Tshepo Mongoai
SABC economics editor, Tshepo Mongoai, previewed business stories that are likely to make headlines in the coming week in the business sector. TALKING POINTS ** African Rainbow Capital shareholders have approved the delisting and re-domiciliation of the company, but some shareholders are yet to accept the deal until noon on May 23... ** South Africa's Finance Minister, Enoch Godongwana, is expected to make a third attempt to table the budget... ** As South Africa's President Cyril Ramaphosa heads to the US, COMESA is considering a coordinated response to rising trade tensions with the United States.
Business round-up with Victor Kgomoeswana, author of "Africa Is Open For Business" and "Africa Bounces Back"
Victor Kgomoeswana, author of "Africa Is Open For Business" and "Africa Bounces Back", and the Executive Director for Marketing and Communication at the University of Limpopo, looked at business news that made headlines in the week. .
Backbase unveils the world's first AI-powered banking platform
Backbase has unveiled the world's first AI-powered banking platform. The Amsterdam-based fintech company says this AI-powered banking platform will offer the continent's financial institutions the competitive edge as it will scale digital transformation and unlock new revenue streams. The company says it's on a mission to put bankers back in the driver's seat. Thami Ngubeni spoke to Heidi Custers, Global Strategy & Transformation Director at Backbase
Stokvels are a safer, more accessible way to build financial security and reach shared goals
Growing numbers of South Africans are discovering that saving money as a group can be more effective than trying to do it alone, making stokvels a safer, more accessible way to build financial security and reach shared goals. Experts alongside key industry thought leaders today gathered in Soweto to explore the importance of stokvel contributions in South Africa's economy as well as unpack key insights from the stokvel industry. Thami Ngubeni spoke to Busi Skenjani, founder of the Stokvel Academy of South Africa
"Possible loss of AGOA should be seen as an opportunity for the country to look for new markets." Chief Economist at FNB, Siphamandla Mkhwanazi
Chief Economist at FNB, Siphamandla Mkhwanazi, says South Africa's possible loss of the African Growth and Opportunity Act (AGOA) status, which translates to 1 per cent of the country's GDP, should be seen as an opportunity for the country to look for new markets. This comes as questions loom on whether the United States will remove the southern African nation from AGOA. Mkhwanazi was speaking at the inaugural RMB Wealth Wise 2025 event held on Thursday night in Johannesburg, South Africa. Thuto Ngobeni compiled this report.
The International Finance Corporation assists in the provision of a sustainable supply of electricity in rural areas
Africa's desire to have a sustainable supply of electricity in rural areas and to meet the needs of cottage industries for growth and development is soon to be fully realised through the intervention of the International Finance Corporation IFC. This is being made possible through a collaboration effort with the African Development Bank and private sector initiatives towards making sure that rural communities are placed on a sustainable energy supply through renewable power supply. Channel Africa News Correspondent in Nigeria, Collins Nosa Atohengbe reports.
SA's President Cyril Ramaphosa to meet with US President Donald Trump next week
South Africa's President Cyril Ramaphosa is expected to meet with U.S. President Donald Trump next week in a bid to resolve key differences between the two countries-chief among them, trade. Speaking on the sidelines of the World Union of Wholesale Markets Conference currently underway in Johannesburg, the Chief Executive Officer of Joburg Market, Sello Makhubela, said the agricultural sector hopes President Ramaphosa will push for the removal or reduction of tariffs on South African exports such as citrus, wine, and macadamia nuts, to ensure fair access to the U.S. market. Channels Africa business reporter Innocent Semosa has more.
Hollard Group to grow its African footprint
Insurance Company, Hollard, has just made two major acquisitions, one with Global Alliance Seguros in Mozambique and another with Absa Life Botswana. Both transactions form part of a broader deal with Absa Group, which includes the acquisition of Absa's insurance businesses in Mozambique and Botswana. This is part of Hollard Group's strategy to grow its African footprint. Thami Nguebni spoke to the CEO of Hollard, Pravin Kalpage..
SA launches G20 Presidency Community Engagements
The University of South Africa (Unisa), in partnership with South Africa's Department of International Relations and Cooperation (DIRCO), launched the G20 Presidency Community Engagements/Town Hall outreach programme on Wednesday at the University's main campus in Pretoria. The launch marked the beginning of a series of town hall discussions that were held in provinces across the country as part of the mandate by DIRCO to conduct public participation programmes aimed at engaging relevant sectors of society in the decision-making and implementation of departmental and government programmes. Thami Ngubeni spoke to Maresane Mariri, who is a community leader and an entrepreneur in Soweto, South of Johannesburg, and represented his community..
People-Centred Artificial Intelligence, Innovation is a priority for the G20 Tourism Working Group
The G20 Tourism Working Group met in KwaZulu-Natal Province in South Africa over the weekend ahead of the Africa Travel Indaba. Senior officials, authorities and experts in the tourism sector looked at priorities that are poised to drive sustainable tourism growth among the member countries. This was a follow-up to a meeting they had in March, where the Working Group members agreed on several priorities that will inform the G20 action plan on tourism development. Thami Ngubeni spoke to Tasneem Carrim, the Chief Director of Communication at the Department of Tourism
Business, Financial developments with Lindile Malgas, Investment Strategist at Absa Investments
Lindile Malgas, Investment Strategist at Absa Investments, looked at the US and China meeting and market reaction, Stats SA unemployment figures and the newly JSE-listed Boxer releasing their full year results.
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