Business News
Uber Ceases Operations in Nigeria and Uganda
Ride-hailing giant, Uber, yesterday announced the discontinuation of its operations in Nigeria after 12 years in the country, as part of a broader restructuring of its global business that has also resulted in the layoff of about 3,300 employees worldwide. The company said it would wind down its ride-hailing operations in Nigeria and Uganda effective…
Domitexka – A Missed Opportunity for African Capital?
Domitexka’s mill in Kaolack has the markets, the know-how and the partnerships to compete globally. What it still needs — like nearly every manufacturer on the continent — is patient capital. The thread comes off the spool white, clean and taut. Inside the Domitexka workshop in Kaolack, the machines are running: raw Senegalese cotton goes…
South Africa Takes SADC Chair Amid Push for Regional Trade
President Cyril Ramaphosa has pledged to use South Africa’s chairship of the Southern African Development Community (SADC) to deepen regional economic integration and advance resilient, sustainable and inclusive industrialisation. Accepting the SADC chairpersonship from Zimbabwean President Emmerson Mnangagwa at the 46th Summit of SADC Heads of State and Government in eThekwini on Monday, President Ramaphosa…
Azari: “Building Africa’s Finest Address: Connecting Global Capital with Rwanda’s Real Estate Growth”
Tony Chinedu Nwulu is an investor, innovator and entrepreneur and the Founder & CEO of Azari Luxury Properties, a premium real estate development and investment company establishing its flagship African operations in Rwanda. In this interview with Business Report, Nwulu discusses Rwanda’s evolving property market, the forces driving housing demand, the opportunities for African and…
Uranium Detected in DR Congo Cobalt Shipments to China – Report
An investigation by Lighthouse Reports, The Financial Times and Le Monde traces the possible export of uranium from the Democratic Republic of Congo back to a confidential International Atomic Energy Agency memo obtained in 2024. Chinese mining group CMOC, which owns the main site examined in Katanga, disputes the findings. Lighthouse Reports obtained a previously undisclosed internal memo from the International Atomic Energy…
Rwanda Shuts Down Dozens of Firms in Illegal Alcohol Crackdown
The Director General of Rwanda Food and Drugs Authority, Emile Bienvenu, has been arrested alongside 17 officials over alleged offences related to production and distribution of illicit alcoholic beverages, Rwanda Investigation Bureau (RIB) said. Ten of the 18 suspects are linked to Rwanda FDA while others include a division manager from Rwanda Standards Board (RSB)…
South African Economy Feels Cost of Anti-Immigrant Sentiment
South Africa is suffering a drop in its workforce, following the departure of thousands of foreign workers in the wake of a wave of xenophobic attacks, anti-migrant protests and intensified immigration enforcement. South African farmers are sounding the alarm – such as Lloyd Hadebe, deputy president of the Farmers’ Association in KwaZulu-Natal, the region hardest…
Tanzania: Govt to Review Over 1,000 Laws to Attract Tech
Dar es Salaam — THE government plans to review more than 1,000 laws to create a regulatory framework capable of supporting artificial intelligence, digital commerce and technology-driven investment as it seeks to make Tanzania’s economy more competitive. The review is expected to cover laws governing digital financial transactions, e-commerce, companies and public-private partnerships, providing greater…
Africa Cannot Stop Middle East Wars — But It Can Cut Its Fuel Bill
As tensions escalate again across the Middle East, global oil markets are entering another period of uncertainty. Even the threat of disruptions to tanker routes or energy infrastructure in the region can send crude prices sharply higher. Much of the world’s oil still moves through the strategic maritime chokepoint of the Strait of Hormuz. Any…
South Africa: Energy Transition a Matter of Survival – President Ramaphosa
The climate transition is not only a developmental goal for South Africa, but a matter of survival for humanity and the globe. This is according to President Cyril Ramaphosa, who chaired the virtual inaugural meeting of the newly elected Presidential Climate Commission on Friday. “Climate change is an existential threat to the future of humanity…
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