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South Africa’s rand tumbled on Monday afternoon after credit ratings agency Standard & Poor’s downgraded the country’s the credit grade to junk status, saying political and institutional uncertainty after a cabinet reshuffle by President Jacob Zuma last week...

Mauritians are the wealthiest individuals in Africa with an average wealth of US$25,700 per person, whilst people living in Zimbabwe are the poorest with US$200 per person. Interestingly, North African countries such as Algeria, Egypt and Morocco all rank high on the list despite...

With the recent announcement of an ambitious power project to connect Cape Town and Cairo within the next three years, the opportunities for reliable cross-border electricity generation are once again in the spotlight. Great for Africa. Africa is ready for this great project....

Geneva, United Nations – A new private sector initiative announced on Wednesday will provide at least $450m in commercial financing to the three West African countries hardest hit by Ebola to promote trade, investment and employment. The International Finance Corporation,...

Washington – The largest-ever outbreak of Ebola could drain billions of dollars from economies in west Africa by the end of next year if the epidemic is not contained, the World Bank said in an analysis on Wednesday. The global development lender predicted that slow...

Johannesburg – Doing business in sub-Saharan Africa is a challenge, but those who are undeterred by a business environment that may not be as easy as it may be in other countries could reap high rewards, according to Dr Thomas Höppli, economic research analyst for the South...

American multinational corporation, Apple Incorporated, has unveiled ‘Apple Pay’ that will enable MasterCard and Visa cardholders to use their iPhone 6, iPhone 6 Plus and Apple Watch for everyday purchases. The two market leaders in the global payments industry (MasterCard and...

Harare – New tax measures implemented by the Zimbabwean government are likely to have a negative impact on South African-based companies that have dominated the Zimbabwean market in recent times. Presenting his mid-term review statement last week, Finance Minister Patrick...

  Bangkok – The ebola outbreak in Sub-Saharan Africa is making its presence felt among Thai rice exporters, a report said on Monday. Rice exporters in Thailand fear that the ebola pandemic will negatively affect rice prices as ships refuse to sail to ports in the...

Addis Ababa – African Union members said Monday travel bans imposed to stem the deadly Ebola epidemic should be lifted to ensure the economic impact of the restrictions do not add to continent’s woes. “It was agreed that as African member states we should urge...