Swiss food and drinks company Nestle (NESN.VX) is cutting 15 percent of its workforce in 21 African countries, the company confirmed on Wednesday.
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.
Jaki Kweka is that rare breed of gourmet chocolatier. She makes fine chocolate in Africa using local African ingredients.
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.
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.
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.
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).
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.
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.
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.
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.
Chinese workers mingle with Ethiopians putting the finishing touches to a metro line that cuts through Addis Ababa, one of a series of grand state infrastructure projects that Ethiopia hopes will help it mimic Asia's industrial rise.
Traditional markets sell more than 85 percent of the food consumed in sub-Saharan Africa, and rather than replacing them with Western-style supermarkets, governments should train local vendors to improve food safety, researchers say.
Madagascar will not achieve the 5 percent growth the International Monetary Fund has projected for it this year unless it introduces reforms to boost tax revenue and improve the business climate, an IMF official told Reuters.
Myanmar, Haiti and Mali were ranked the least open and transparent countries in a global index of government data released on Tuesday, which found that most governments do not make official data openly available to the public.
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