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Solar panels

Morocco to build the world’s largest solar power plant

Morocco will build the largest concentrated solar power in the world at Ouarzazate city. The project, alongside with hydro and wind, will help provide nearly half of Morocco's electricity requirement by 2020.

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South Africa

Broadband spread in SA unplugs 'video on demand' biz

The massive expansion of fiber optic broadband (FOB) in Johannesburg and other up markets in South Africa is paving the way for video on demand (VoD) services. Many companies with offers of internet video streaming services are making a beeline to explore the untapped market in the most developed economy in African continent. It's learnt that US major in streaming video services is also entering the market.

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South Africa

MMI Holdings profit slips 10%

South African insurance major MMI Holdings Ltd suffered drop of 9.8 percent in its profit for the year ending June following the market volatility, economy slowdown and inflation rise. Cape Town-based MMI Holdings is the third largest insurance company in South Africa. The company's net income eased from rand 3.3 billion to rand 2.98billion. Earnings per share (EPS) dropped 11 percent to rand 1.81.

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South African Farm

Zimbabwe farmers fear winter of hunger after poor tobacco crop

Farmer Kenny Mabvumbe looked upset as he returned virtually empty-handed from the tobacco auction floors in the Zimbabwean capital of Harare.

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Nestle scales back Africa workforce

Swiss food and drinks company Nestle (NESN.VX) is cutting 15 percent of its workforce in 21 African countries, the company confirmed on Wednesday.

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Shopping centre

Wal-Mart makes slow progress navigating Africa's challenges

When Wal-Mart Stores Inc (WMT.N) spent $2.4 billion on a stake in South Africa's Massmart (MSMJ.J) five years ago, the world's biggest retailer said it was buying a gateway to high-growth markets in sub-Saharan Africa.

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African cocoa a golden ticket for Tanzania chocolate factory

Jaki Kweka is that rare breed of gourmet chocolatier. She makes fine chocolate in Africa using local African ingredients.

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Tema oil refinery

Ghana oil refinery breakdown a symbol of economic woes

When it opened in 1963, Ghana's oil refinery symbolized pride and hope for the first African country to escape colonial rule. Now the plant stands idle in a sign of the economic shadow that has crept over one of the continent's brightest stars.

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Climate Change

Harsh weather cripples fishing and tourism on Cameroon's coast

For over 15 years, Raoul Meno has been fishing the waters off the coastal town of Kribi in southern Cameroon. He has sometimes had to face down storms and high seas to bring home a catch to support his family. But now, he is scared.

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Ethiopia launches 4G mobile service in the capital

Ethiopia's state-run telecoms monopoly has launched a fourth generation (4G) mobile service in the capital Addis Ababa, aiming to catch up with the high-speed communications available in some east African neighbors such as Kenya and Uganda.

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Casino Chips

South Africa's Sun International to buy Peermont in $775 million deal

South African hotel chain Sun International (SUIJ.J) on Friday announced plans to take over casino resort group Peermont for nearly 9.5 billion rand ($775 million).

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Ashraf al-Arabi

Egypt targets FDI worth $60 billion over four years: minister

Egypt wants to attract foreign direct investments worth $60 billion and to get an average growth rate of 7 percent over the next four years, the country's planning minister said.

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Egypt's Prime Minister Ibrahim Mehleb

Egypt's cabinet approves long-awaited investment law

Egypt's cabinet approved a long-awaited draft law on investment on Wednesday aimed at making deals less vulnerable to legal disputes or changes in government, and reducing stifling bureaucracy.

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Egyptian President Abdel Fattah al-Sisi

3.2 billion euros of Egypt-French arms deal financed by loan from Paris: Sisi

The French government loaned Egypt 3.2 billion euros to finance the recent multibillion-euro purchase of French military equipment, Egypt's president Abdel Fattah al-Sisi said in an interview on al-Arabiya TV on Saturday.

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Omar Abdirashid Ali Sharmarke

Somali PM appeals to U.S. banks to resume money transfer services

Somalia's prime minister urged the U.S. government and U.S. banks to support money transfer firms that offer a lifeline for many in the war-torn Horn of Africa nation.

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