U.S. announces sanctions against SA’s Gupta family

U.S. announces sanctions against SA’s Gupta family

The United States announced new economic sanctions against the Gupta family and an associate on Thursday, adding another international layer of consequences to South Africa’s “State Capture” corruption saga – one that has ensnared numerous firms, state entities and elected officials including former president Jacob Zuma. The sanctions under the…

Malawi gets $13 million to boost its Blue Economy

Malawi gets $13 million to boost its Blue Economy

Africa’s vision for the “Blue Economy” got a boost from African Development Bank Group (AfDB) this week, with the announcement of US $13.2 million in financing for fisheries and aquaculture in Malawi. The country’s government will add another $1.38 million for the Sustainable Fisheries, Aquaculture Development, and Watershed Management project…

New China-Africa paper calls on West to tone down the BRI drama

New China-Africa paper calls on West to tone down the BRI drama

As the Chinese celebrate the government’s 70th anniversary, a new paper on Beijing’s relationships with African nations explores how Belt and Road Initiative (BRI) projects are actually being implemented – and it offers a few surprising conclusions. The paper from the Brookings Institution in the United States is part of…

Laureen is the editor of Africa Times

SA unions cancel banking strike after court ruling

South Africa’s banking strike, planned for Friday, is postponed after the Braamfontein Labour Court decided Thursday that the national finance-worker walkout was illegal. The South African Society of Bank Officials (SASBO), the union planning the strike to protest job losses, expected five marches in Johannesburg, Durban, Bloemfontein, Port Elizabeth and…

Kenyatta makes his pitch for U.S. business investment

Kenya’s President Uhuru Kenyatta met with business leaders in the United States this week in a bid to attract more investment, particularly in manufacturing as his nation seeks to nearly double the sector’s share of GDP by 2022. Kenyatta spoke at a private forum hosted by the U.S. Chamber of…

Botswana, Zimbabwe stock exchanges confirm cross-border plan

The stock exchanges of Botswana and Zimbabwe have inked a deal that’s meant to boost investment in both countries, help Zimbabweans to raise capital, and contribute to the economic advance of the Southern African Development Community as a whole. The Memorandum of Understanding was signed by Thapelo Tsheole, CEO of…

Museveni promotes African unity at WEF meeting in Cape Town

President Yoweri Museveni, true to his pan-African convictions, said Thursday that unity is the key to ending the continent’s many conflicts and businesses contribute to the cause of peace by establishing stability. “Thriving businesses cause social transformation which changes society,” said Museveni, speaking at a session of the World Economic…

AfDB’s Adesina delivers keynote at TICAD7 session in Japan

Akinwumi Adesina, president for African Development Bank Group, delivered a keynote address Wednesday as the Seventh Tokyo International Conference on African Development (TICAD7) kicked off with its emphasis on climate change and hunger. “In spite of all the gains made in agriculture, we are not winning the global war against…

Namibia says millions are missing from government pension fund

Authorities in Namibia say that millions are missing from the Government Institutions Pension Fund (GIPF), and there are no easy answers for members who demand to know where the money has gone. The discovery was revealed last week by Martha Imalwa, the prosecutor general, after an investigation revealed that an…

Opinion: Africa does not need a single currency

By Piotr Arak AT Contributor The process of increasing international trade in Africa and decreasing barriers that can foster growth resembles the goals and policies introduced successfully in Europe. This year Africa will take a big step towards tackling entrenched economic problems including a dearth of intra-regional trade as the…

Lesotho welcomes new cannabis facility

Lesotho celebrated the opening of its new cannabis processing facility on Thursday, with King Letsie III set to join investors at the Verve Lesotho facility. Verve plans to produce cannabidiol (CBD) for medical uses, capitalizing on Lesotho’s decision to be at the forefront of African nations in exploring business opportunities…

Mauritius, ICIJ respond to tax-haven investigation

One week after a new investigation into tax policies in Mauritius was published by the International Consortium of Investigative Journalists, the ICIJ said it has seen international response to the reporting and concerns over allegations from officials in the Indian Ocean island nation. The project, a collaboration of 54 journalists…

Germany Africa Business Forum announces funds for energy startups

The Germany Africa Business Forum (GABF) announced Thursday a multimillion-Euro funding commitment to invest in German energy startups that focus on Africa. The GABF, based in Berlin and Johannesburg, South Africa, said the funds are the first of their kind for the advocacy group seeking to advance German partnerships with…