Africa

Tesla Slashes EV Prices in China, Germany and Other Countries in Europe as Sales Drop

Tesla has implemented price reductions in key markets such as China, Germany, and other European countries, following similar cuts in the United States.


Moderna Pauses Kenya Plant Plan After Losing $1 Billion as COVID-19 Vaccine Demand Slumps

Moderna announced on Thursday that it has decided to halt its plans to construct a vaccine manufacturing facility in Kenya due to a decrease in demand for COVID-19 vaccines after the pandemic...

Former CEO Shoots Himself to Commit Suicide After Receiving $25 Million Record-Breaking Fine for Fraud at Steinhoff

After being notified of an arrest warrant against him, a former CEO of Steinhoff was found dead in what authorities suspect to be a suicide...

South Africa's Return To Office Gets Middle Finger From Employees Office-Based Work Policies Increase in 2024

South Africa's return-to-office efforts get a middle finger from employees. Office-based policies are now increasing...


Latest News

Bank of Egypt Mulling For Tougher Foreign Exchange Regulations Cracking Down The Black Market
A black market for dollars has absorbed liquidity from the Egyptian banking system over stressing country’s foreign reserves. Egyptian pound has been weekend ignoring several steps adopted by CBE. Fin
Solar Power, South Africa's Answer to Energy Crisis
South Africa's energy crisis will now be answered by the launching of the largest solar farm built in Northen Cape. It could generate power that could supply electricity from renewable energy to 75,0
Facebook sees growth in Asia despite India's ban on Free Basics
Facebook Inc is bullish on Asian market potential. Recently, Facebook's Free Basics service has been banned by Telecom Regulatory Authority of India (Trai). Despite this jolt, Facebook is still optimi
Fastjet Bows To Founder’s Call Removing CEO And General Counsel With Immediate Effect
Fastjet founder Stelios Haji-Ioannou has called for removing its CEO and suggested for other restructuring. Though the African budget carrier has decided for keeping the CEO as an advisor for another
Ivory Coast President Said Al-Qaeda Terror Attack Wouldn’t Impede With The Country’s Economic Progress
In the wake of the Al-Qaeda attack on a beach resort in Ivory Coast, the country’s president has tighten the security measures across the nation. Ivory Coast is striving to improve its economy, especi
The Egyptian Central Bank Devalues Currency Against US Dollar, Mulls For Raising Benchmark Rates
Economists and analysts have repeatedly been suggesting for devaluation of local currency in a bid to ease pressure on foreign currency reserves. But the Egyptian central bank has refrained from doing
South Africa's Manufacturing and Mining Output Contract, Slow Down Economy Even More
South Africa's output in the manufacturing and mining sector might not be a good sign to start the year right. More mining sites stopped their operations creating illegal mining. The president should
Kenya Airways Reveals $690 Million Bailout Plan After Incurring Loss $261 Million Last Year
Kenya Airlines has recorded an annual loss of $690 million during 2015. Following the ever largest corporate debacle in Kenyan history, the struggling national carrier has revealed bailout plan for $6
South Africa's Deteriorating Gold Industry and Economy
South Africa's gold industry is degenerating along with its economy. With the shut down of many gold mines, many workers are laid off leaving them no jobs and no food. This forces them to mine illegal
Egyptian Billionaire Naguib Sawiris Will Finalize Acquisition of CI Capital Holding by the End of March
The acquisition will create a second largest investment bank in Egypt. Sawiris acquired CI Capital Holding with its investment arm, Orascom Telecom Media and Technology.
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