Reuters News South African private sector activity grew for the first time in six months in August as improved demand led to firms boosting output, a survey showed on Tuesday. The S&P Global South Africa Purchasing Managers’ Index (PMI) rose to 51.0 in August from 48.2 in July. A reading above 50 shows growth. Overall…
Nigeria’s government will avoid taking on new debt and instead turn to the private sector to drive the economy, finance minister Wale Edun said while unveiling a sweeping agenda to boost growth. The economy of Africa’s biggest oil producer last looked stable about a decade ago during the global commodity prices boom that sent…
Nigerian Tribune Mr Nkereuwem Onung is the president of Federation of Tourism Association of Nigeria (FTAN) and the Senior Special Adviser to the Governor of Akwa Ibom State on Culture and Tourism. In this exclusive interview with WALE OLAPADE, Onung, who is presently exploring the tourism model of China, speaks on his tour of Beijing…
Reuters News Inflation expectations in South Africa were still at an elevated level, central bank governor Lesetja Kganyago said on Friday. (Reporting by Wendell Roelf and Kopano Gumbi; Writing by Bhargav Acharya; Editing by Alex Richardson)
ZAWYA Africa’s biggest drug maker Aspen Pharmacare has struck a deal with US pharma major Eli Lilly to distribute the American company’s medications in South Africa and sub-Saharan Africa. The sales revenue of the Lilly portfolio in sub-Saharan Africa was around $23 million in 2022, the companies said in a statement. Aspen said it expects…
Bizcommunity.com South Africa’s tourism sector continues to show strong recovery with the first half of 2023 recording more than four million tourist arrivals. “Our arrival numbers for 2023 are looking good, demonstrating that South Africa is still a favourable tourist destination and we are eager to welcome more tourists as we head into the busy…
Reuters News South Africa’s producer inflation slowed to 2.7% year on year in July from 4.8% in June, statistics agency data showed on Thursday. On a month-on-month basis, the producer price index was at 0.2% in July from -0.3% the previous month, Statistics South Africa said. (Reporting by Alexander Winning; Editing by Alison Williams)
Africa Business While cash and mobile money remain the dominant payment methods in Africa, they come with significant challenges. Cash is inefficient, insecure, and expensive, while mobile money services often lack the necessary regulatory support to operate independently. However, key emerging trends in the sector are helping to drive meaningful financial inclusion across the continent,…
Africa Business Applications are open for early and growth-stage health tech innovators Investing in Innovation Africa (i3), a pan-African initiative for start-ups building the future of healthcare supply chains, is calling for leading innovators to join its second cohort. Funded by the Bill & Melinda Gates Foundation and sponsored by AmerisourceBergen, Merck Sharpe & Dohme…
Reuters JOHANNESBURG, Aug 30 (Reuters) – South African retailer Woolworths (WHLJ.J) on Wednesday reported a nearly 15% rise in annual profit as promotional sales, online growth and lower debt offset the impact of power cuts in the country and a cost-of-living crisis in its operating regions. The food and fashion retailer posted headline earnings per share –…
