Dangote Cement’s Pan-African operations performed well in the first half of 2020 and contributed positively to its Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA), the company said. The cement giant told Nigerian business news website Nairametrics that ‘the Pan-African business is not dragging the group...
South Africa’s Minister of Mineral Resources and Energy Gwede Mantashe has been admitted to hospital after testing positive for COVID-19. “Today, minister Mantashe was admitted to hospital on the advice of their doctor for better medical attention and monitoring,” said Minister in the Presidency Jackson Mthembu...
South African retailer Massmart Holdings has started talks with unions to cut up to 1,800 jobs at the company’s struggling Game stores, after an ‘indifferent performance in the 2019 financial year’ followed by the impact of the COVID-19 pandemic this year. Game, a general merchandise chain,...
South Africa’s Sasol has today announced plans to cut jobs and end its West African oil operations as part of a major business revamp. The petrochemicals producer has been contemplating its rising debt levels, falling oil and chemical prices and lower global demand due to the...
The implementation of a nationwide lockdown to contain the spread of COVID-19 in South Africa caused total mining production to fold by 47.3% in April, compared to the same month in 2019. Official data released yesterday by Statistics South Africa revealed that mining output also contracted...
Administrators at South African Airways (SAA) have asked creditors to approve an extension until June 8 for the publication of a business rescue plan, which would be the first stage of a miraculous recovery by the teetering airline. The administrators said in a letter dated May...
Zambia has temporarily shut its border with Tanzania as part of its efforts to quell the spread of COVID-19, delaying its main copper exports via Dar es Salaam, a minister revealed yesterday. President Edgar Lungu directed the closure on Sunday after the border town of Nakonde...
Nigeria will extend a ban on all commercial flights in and out of the country by four weeks as part of measures to prevent the spread of COVID-19, revealed a government official yesterday. Boss Mustapha, Secretary to the Government of the Federation, said Thursday would mark...
Farmers across Southern Africa are facing the prospect of being unable to sell their products to lucrative foreign markets due to restrictions in place to prevent the further spread of COVID-19. In particular, agricultural producers and traders in South Africa and Zimbabwe – two of the...
The implementation of Africa’s ground-breaking continental free trade deal will not begin at the start of July as planned due to disruptions caused by the COVID-19 outbreak, according to a senior official. “It is obviously not possible to commence trade as we had intended on 1...