Africa in Business
In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.
Business, financial markets developments with Simphiwe Letlojane, Head of Investment Strategy at Absa Investments
Thami Ngubeni and Simphiwe Letlojane, Head of Investment Strategy at Absa Investments had a look at the latest business and financial markets developments... TALKING POINTS: ** Key decision this week SARB interest rate decision, Reuters poll expect 25 basis points, what's your view? ** Some earnings releases as well from company Pepkor recording double digit growth in revenue and earnings as well coronation fund managers seeing some AUM growth "yesterday", ** Market movements looking positive, rand comfortably below 18 USDZAR and all share around record high levels
BankservAfrica's Retail Cross-Border Payments Scheme gains traction
BankservAfrica's Transactions Cleared on an Immediate Basis (TCIB) Retail Cross-Border Payments Scheme seems to be gaining traction, after onboarding more than 30 financial institutions from countries in the Common Monetary Area, including South Africa and its neighbours Eswatini, Lesotho and Namibia. The bank developed the payment scheme to simplify cross-border digital peer-to-peer payments. Thami Ngubeni spoke to Meera Sunker, Head of the Transactions Cleared on an Immediate Basis (TCIB) Retail Cross-Border Payments Scheme at BankservAfrica.
Mnangagwa signs into law a bill that requires all motorists to buy a radio licence before acquiring vehicle insurance
Zimbabwe's President Emmerson Mnangagwa has signed into law a contentious bill that requires all motorists to buy a radio licence before acquiring vehicle insurance, a move termed by many as being draconian. Under the amended Broadcasting Services Act, motorists must prove they have paid a fee of 92 dollars to the state broadcaster, Zimbabwe Broadcasting Corporation. (ZBC), before they can obtain vehicle licenses or insurance. Thami Ngubeni spoke to Lenon Itai Rwizi, a registered Legal Practitioner of the Superior Courts of Zimbabwe.
Africa countries lose an estimated $67.5 mln in non-refundable Schengen visa application fees
In 2024 alone, African countries lost an estimated $67.5 million in non-refundable Schengen visa application fees, according to data from the LAGO Collective. The London-based research and arts organization has tracked European short-term visa trends since 2022 and identifies Africa as the region most adversely impacted by visa rejections. These losses represent more than just financial strain-they highlight a deeper issue of access, equity, and mobility for African citizens seeking opportunities abroad. Channel Africa Business Reporter Innocent Semosa has more.
Stats SA flags continued rise in reliance on government support
South Africa's 2024 General Household Survey reveals a continued rise in reliance on government support. The proportion of individuals receiving social grants grew from 12.8% in 2003 to 30.9% in 2019, and surged to 40.1% in 2024, largely due to the introduction of the special COVID-19 Social Relief of Distress grant. Statistician-General Risenga Maluleke presented the findings at a media briefing in Pretoria earlier today. The survey provides a snapshot of progress achieved in basic government services and identifies service delivery gaps for policy intervention. Channel Africa business reporter Innocent Semosa has more
How to cash in on the rapidly growing African entertainment industry...
The African entertainment industry is a rapidly growing sector, projected to reach 112-point-.90 million US dollars by 2027. Key drivers include increasing internet access, digital adoption, and collaborations between African artists and the diaspora, particularly in South Africa, Nigeria, and Kenya. At the forefront of this is Hayani Africa, a Brand and Talent Management agency that seeks to build a bridge between homegrown talent, pan-African storytelling and international opportunity. Thami Ngubeni spoke to Tumelo Moema, the CEO of Hayani Africa
Calls for cryptocurrency regulation gain momentum
Some central banks across the globe are in the process of formulating a legislative framework to regulate the cryptocurrency markets. This amid growing concerns that the digital assets might be used in illicit cash flows. In South Africa, a high court has recently ruled that the country's exchange control regulations are outdated and need to be reformed to accommodate trade of cryptocurrencies and all forms of digital assets. A ruling, Luno, a South African-founded digital asset platform, agrees with. Marius Reitz, Luno's General Manager for Africa & Europe, says updated legislation will allow the digital asset industry to contribute more significantly to the economic growth of the markets they operate in. Thami Ngubeni spoke to Marius Reitz, Luno's General Manager for Africa & Europe
Nigeria launched a cargo corridor to increase non-oil exports
The Nigerian government has launched a cargo corridor to provide Nigerian exporters with access to East and Southern African markets. As plans by the West African nation to pursue non-oil exports gain traction, the Nigeria Export Promotion Council (NEPC) reports that the country's non-oil exports reached a value of 1-point -791 billion US dollars in the first quarter of 2025. The Nigerian government says the cargo corridor initiative was proof of its commitment to supporting Nigerian businesses in scaling their exports across Africa. Thami Ngubeni spoke to Collins Nweke, a Senior Consultant at the Nigeria Belgium Luxembourg Business Forum.
Risks and opportunities facing junior mining projects across Africa highlighted at the 11th edition of the annual Junior Indaba
The 11th edition of the annual Junior Indaba is currently underway in Johannesburg, South Africa. Hosted by Resources for Africa, the two-day event is known for its no-holds-barred discussions on the future of exploration and junior mining in Southern Africa. One of the key sessions focused on the risks and opportunities facing junior mining projects across the continent. Channel Africa's Lebogang Mabange attended the event and filed this report.
Shortages of sugar in Malawi push up the prices
The increasing short supply of Sugar on the market in Malawi has forced consumers to be subjected to what economists say are exploitative prices. The price of a 1kg packet of sugar has, at the moment, surged to 3-point-5 US dollars, double the recommended government price. Surveys show that sugar vendors are selling the commodity at exorbitant prices due to a serious shortage and an alleged hoarding by some distributors. George Mhango reports from Blantyre..
The African Development Bank is to elect a new president this Thursday
The African Development Bank will elect a new president this week when the continent's biggest multilateral lender faces unprecedented challenges from funding cuts by the United States government. Their first order in office for one of the five candidates is to persuade the U.S. to reinstate the funding, or seek additional funds from non-regional members of the bank, like China, or Gulf countries like Saudi Arabia or the United Arab Emirates. Earlier I spoke to SABC News reporter, Khayelihle Khumalo, who is currently in Abidjan, Ivory Coast..
Proposal for Kenyan fund managers to make full disclosures of their clients who invest in corporate bonds
INTRO: Kenya's financial sector regulators are looking into a proposal that will require fund managers, investment banks and stockbrokers to make full disclosures of their clients whose funds are invested in corporate bonds. Currently, fund managers pool together resources from several clients and make investments in corporate bonds as single investments and usually in their name, without disclosing the identities of the investors. The regulators say this will ensure bondholders of collapsed or defaulting issuers receive maximum compensation. Thami Ngubeni spoke to Dr Francis Sang, a Kenya-based economist.
Investment in infrastructure could be a major driver for economic growth
The 2025 Sustainable Infrastructure Development Symposium officially kicked off today in Cape Town, South Africa. The event has drawn together key stakeholders, experts, and policymakers who are focused on accelerating vital infrastructure projects across South Africa. President Cyril Ramaphosa recently emphasised that meaningful investment in infrastructure could be a major driver for economic growth. Such investments are crucial for reaching the National Development Plan's targets - including achieving a 5.5% annual economic growth rate, reducing unemployment to 6%, and increasing gross fixed capital formation to 30% of GDP. Thami Ngubeni spoke to the MEC for Economic Development, Mr. Lebogang Maile.
Universal Health Coverage workers in Kenya strike over the government's failure to address concerns over salaries
Universal Health Coverage workers in Kenya have been on strike for the last 95 days due to the government's failure to prioritise and address longstanding issues, such as harmonisation of salary in line with the Salaries and Remuneration Commission's guidelines and payment of gratuity, among other things. According to the Health Sector Caucus, comprising health sector unions and associations, the Ministry of Health and County Governments have continued to exploit 97 Global Fund staff, who have worked for 11 months without pay. Thami Ngubeni spoke to Peterson Wachira, who is the Secretary General of the Kenya Union of Clinical Officers..
A dialogue on building Consensus for SA's G20 hosted in Tanzania
A dialogue on building Consensus for South Africa's G20, Reigniting Africa's Renaissance took place in Dar es Salam Tanzania this morning. The dialogue was part of activities hosted ahead of the Thabo Mbeki Africa day lecture scheduled to take place on Saturday. Thami Ngubeni spoke to Sandile Tshabalala from Huruma Bantu in Mbombela, South Africa..
Railway company, Transnet get a $2.8 billion bailout guarantee
South Africa's transport and finance ministries have approved a 2-point-8 billion dollar guarantee facility to State state-owned railway company, Transnet. The entity has been trying to turn around its logistics operations, from rail to ports, after years of graft and mismanagement. The facility is effective immediately to support Transnet's "capital investment program and to enable it to meet its debt obligations, which stood at 7-point-7 billion dollars at end-March 2024. Thami Ngubeni spoke to Miyelani Mkhabela, Director and Chief Economist of Antswisa Management Group.
$34 mln needed to establish an asset management company to control South Africa's SOEs
South Africa's department of planning, monitoring and evaluation says it needs about 34 million US dollars as seed funding for establishing an asset management company that will have control of the country's strategic state owned enterprises. The company which will be under the direct control of the president is meant to professionalise SOE's and help them become profitable. So far this has not gone down well with the public and parliamentarians having more questions than answers. Dimakatso Leshoro has the details
Tackling financial crime top priority for the SA government
South Africa's Finance Minister Enoch Godongwana, in his recent Budget Speech, made it clear that tackling financial crime is now a top government priority. The budget allocates increased funding for forensic investigations, tighter regulatory oversight, and enhanced tax compliance monitoring. This signals a warning to businesses classified as accountable institutions under the Financial Intelligence Centre Act, or FICA- they should brace for greater scrutiny and stricter enforcement. Channel Africa business reporter Innocent Semosa has more
ABSA mobilise about $6.7 billion in sustainable finance
South Africa-based bank ABSA has raised about 6.7 billion dollars in sustainable finance, surpassing its 5.5 billion target. The funding supported renewable energy, affordable housing, and inclusive economic initiatives across Africa. Absa's 2025 Sustainability and Climate Report details how the bank is embedding sustainability across operations, governance, and impact delivery, particularly in climate action, financial inclusion. I spoke to Punki Modise, the chief strategy and sustainability officer at Absa, and I started by asking her to share the key highlights in Absa's 2025 Sustainability and Climate Report.
SA submits revised framework focusing on expanding trade and investment relations between the two countries
South Africa has submitted a revised framework proposal to the United States, focusing on expanding trade and investment relations between the two countries. The new proposed trade deal includes provisions related to the African Growth and Opportunity Act (AGOA), which is currently under consideration for reauthorisation by the U.S. Congress. The country's minister of Minister of Trade, Industry and Competition, Parks Tau, has reaffirmed the country's commitment to placing trade at the centre of G20 deliberations. Thami Ngubeni spoke to Dr Emmanuel Matambo, a Senior Researcher at the Centre for Africa-China Studies (CACS), University of Johannesburg in South Africa.
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