Egyptian Pound Falls Against Major Foreign Currencies
The Egyptian pound is falling against foreign currencies, approaching 50 per U.S. dollar after a recent increase in metro fares and fuel prices. The currency hit 49.16 per U.S. dollar … Read More
Category: Business
Price instability rocks Ethiopia as it reels from foreign exchange rate reforms
The prices on the menu have been erased at a small hotel in a suburb of Ethiopia’s capital, Addis Ababa. That was no mistake, the waiters said, as businesses in … Read More
South Sudan’s oil revenue drops, Security Forces unpaid for months
The recent rupture of a crucial oil pipeline has sent fresh pain through the economy of South Sudan, where even the security forces haven’t been paid in nine months. Some … Read More
news China and 26 African countries agree to strengthen partnerships in digital field
China and 26 African countries have agreed to strengthen partnerships and boost innovation in the digital sector. African participants at the Forum on China, Africa Digital Cooperation were hosted Monday … Read More
South Africa’s unemployment rate climbs, over 8 million jobless
South Africa’s unemplyment rate increased by 0.6 percentage points from 32.9% in Q1 2024 to 33.5% in Q2 2024, the government’s statistics office reported Tuesday. Africa’s most industrialized economy has … Read More
Non-Compliant Companies face being De-registered by URSB
The Uganda Registration Services Bureau (URSB) urgently announces a major clean-up initiative targeting companies that have failed to file annual returns. Starting August 30, 2024, URSB will begin de registering … Read More
Dangote regains the title of Africa’s richest man
In an interesting turn of events, Nigeria’s Aliko Dangote has reclaimed the title of Africa’s richest man, just days after South African businessman Johann Rupert briefly overtook him. As of … Read More
Indonesian cigarettes maker plots Kenyan market entry
PT Djarum, a 73-year-old Indonesian cigarette manufacturer, is considering entering the Kenyan market, which could challenge the dominance of British American Tobacco (BAT) Kenya. Last week, a Djarum delegation visited … Read More
URA Triumphs in Landmark Tax Evasion Case Against Crane Autos Limited
The Uganda Revenue Authority (URA) has achieved a major legal victory in its battle against Crane Autos Limited, a leading car importing company accused of evading Sh20.1 billion in taxes. … Read More