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AfricaBusinessEconomy

Botswana seeks bigger cut from diamond giant-RT News

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The African nation can make “much more money” if it negotiates a larger share from De Beers, President Masisi said Exclusive News Botswana is pushing for a larger share of diamonds mined by the De Beers consortium, President Mokgweetsi Masisi said on Thursday. Masisi’s government and the company have been trying to negotiate a new deal for five years, and the president now thinks…
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AfricaBusinessEconomy

Africa’s richest businessmen revealed

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Top billionaires have reportedly seen their fortunes grow this year Exclusive News The collective net worth of Africa’s richest people has jumped to $87.3 billion after their wealth plunged to $81.5 billion last year due to a slump in global equity values, according to Bloomberg’s Billionaires Index. Aliko Dangote, the founder and chairman of the continent’s largest cement…
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AfricaBusinessEconomyTechnology

Major oil discovery made in Southern Africa-RT News

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It marks the third such find by a Shell-led consortium in same basin off the coast of Namibia Exclusive News UK-based energy major Shell has announced the discovery of light oil in a deepwater exploration well off the coast of Namibia. It’s the third oil discovery in the African country since February 2022. The company, which is exploring Namibia’s Orange Basin in cooperation with…
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AfricaBusinessEconomy

Ramaphosa Gets Second Bloody Phala Phala Nose in Two Weeks-Daily Maverick

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SARS tells the DA that it cannot find a declared record of $4-million game cash. Will the President stay if an impeachment committee is set up? Exclusive News President Cyril Ramaphosa’s cash declaration scandal about a dodgy $4-million game purchase got messier on Monday. The DA said that SARS had responded that it could not find a record of Sudanese businessman Hazim…
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AfricaBusinessEconomyTechnology

South Africa suffers record power cuts-RT News

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Eskom, the country’s largest producer of electricity, has reduced production to an unprecedented level Exclusive News South Africa’s state-owned electricity provider, Eskom, was forced to further slash power output on Tuesday, spokesman Sikonathi Mantshantsha said in a tweet. According to Mantshantsha, the company cut 7,045 megawatts from the grid, in a move known as load…
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BusinessDisasterEconomyWorld

Global food giant issues grim warning-RT News

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Nestle expects prices for staple items to keep on rising in 2023 Exclusive News The world’s biggest food corporation, Nestle, has said prices for staple items will continue to grow during 2023, after more than a year of price increases that have forced the ordinary consumer into an ongoing struggle to buy groceries. The giant increased prices by 8.2% last year, but says this was not…
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BusinessEconomyPoliticsWorld

Russia should ditch dollar in trade with African countries – economist to RT_RT News

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Settlements in national currencies are key to boosting commerce, an African studies professor says. Exclusive News Western sanctions have prompted Russia to develop stronger economic ties with African countries, and switching to national currencies instead of using the dollar and euro in mutual trade will further boost cooperation, the head of the Institute for African Studies of the…
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