Business

Tue,16Oct2018

Business

South Africa's Treasury says recession, falling revenue dent public finances

South African President Cyril Ramaphosa, left, shakes hand with newly elected Finance Minister, Tito Mboweni, in Cape Town, South Africa, Tuesday, Oct.9 2018.  Photo: AP/SIPASouth Africa will struggle to finance the public services that form the largest part of its budget due to falling revenues and an economic recession, the National Treasury told lawmakers on Tuesday.

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Steinhoff asks creditors for restructuring extension

A shopper takes his shopping cart along one of the wide walk-ways at the newly-opened Mall of Africa in Midrand, South Africa, Thursday April 28, 2016. Photo: Denis farrell/AP/SIPASouth African retailer Steinhoff, has asked creditors for a one-month extension relating to its debt restructuring as it negotiates documents required to implement the plan, it said on Monday.

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Stock exchanges: IPO highlights and stage fright

A worker at the Stock Exchange in Johannesburg, South Africa uses his mobile phone Tuesday, April 4, 2017. Photo:  Denis farrell/AP/SIPA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

African exchanges largely performed well in 2018, but there  are some challenges taking shape

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South Africa's Exxaro looks to fill Eskom coal shortage

 Nov. 21, 2011, the cooling towers at Eskom's coal-powered Lethabo power station are seen near Sasolburg, South Africa. Photo: AP Photo/Denis South African miner Exxaro Resources said on Friday it was looking to supply coal to state-owned power utility Eskom, which has been hit by supply shortages, posing a threat to the power supply in Africa's most industrialised economy.

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World Bank cuts Sub-Saharan Africa growth forecast

 
 

Pedestrians shop at a busy Balogun Market in Lagos, Nigeria, Tuesday, Sept. 5, 2017. Photo:Sunday Alamba/AP/SIPA. Economic growth needs to be boosted in Nigeria, South Africa and Angola. The World Bank has dropped its 2018 economic growth forecast for Sub-Saharan Africa, partly blaming sluggish growth in some of the region's bigger economies.

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Uganda's SafeBoda ride-hailing service hopes to expand across Africa

A Family move their belongings aboard a motorbike fon the outskirt of Dar es Salaam Thursday Feb. 17, 2011. Photo: Khalfan Said/AP/SIPAA ride-hailing app for motorcycle taxis that is transforming public transport in Uganda aims to expand to at least 20 other African cities, its co-founder says.

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Egypt's first smartphone maker plans expansion in Africa

Egyptian girls smile and cheer as they take a selfi with their mobile phone celebrating Eid al-Fitr marking the end of the Muslim holy month of Ramadan in Cairo, Egypt, Friday, July 17, 2015. Photo:  Amr Nabil/AP/SIPAEgypt's first smartphone maker is looking to enter the broader African market by the end of 2018 or early 2019 as it seeks to boost exports, its sales director said.

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