African Business News - Economic Updates & Analysis

South Africa considers BEE exemption for Starlink

PRETORIA, South Africa – South African officials are preparing to propose a temporary exemption from Black Economic Empowerment (BEE) ownership rules for Elon Musk’s Starlink satellite internet service, according to government sources familiar with the matter. The proposal aims to fast-track Starlink’s

May 20, 2025

Business·Zimbabwe

EcoCash Launches Global Money Transfers From Zimbabwe

Zimbabwean fintech giant EcoCash has launched a new international money transfer service that enables users to send funds from Zimbabwe to several countries across Africa, Asia, and beyond. Previously focused on inbound remittances, EcoCash’s new offering marks a significant shift as the

May 15, 2025

Business·Featured·Zimbabwe

Zimbabwe Finance Ministry owes ZiscoSteel pensioners US$38.7 million

Zimbabwe’s Finance Ministry faces mounting pressure after a parliamentary investigation revealed it still owes US$38.7 million to former employees of the defunct Zimbabwe Iron and Steel Company (ZiscoSteel), some of whom have waited over a decade for their pension benefits. The Parliamentary

May 15, 2025

Business·Politics·South Africa

Malema Calls for Deputy Ministers to Be Scrapped to Cut State Spending

Economic Freedom Fighters (EFF) leader Julius Malema has renewed calls for the elimination of deputy minister positions, describing them as “useless” and a waste of state resources. Speaking at a Workers’ Day rally in Rustenburg, North West, on Thursday, Malema said scrapping

May 3, 2025

Breaking News·Business·Featured

South Africa to Reverse Proposed VAT Increase

South Africa’s National Treasury has announced the withdrawal of its planned 0.5% Value-Added Tax (VAT) increase, originally set to take effect from 1 May 2025. The decision is expected to be formalised when Finance Minister Enoch Godongwana presents the Rates and Monetary

April 24, 2025

Business·Politics·Zimbabwe

Legal Battle Freezes Zimbabwe’s US$1.6M Rural Telemedicine Lifeline

A US$1.6 million telemedicine initiative that promised to revolutionize healthcare access for Zimbabwe’s rural population hangs in limbo as implementing partners wage a bitter legal battle over contract terms and payment distribution. The project, scheduled to launch next Friday, now faces indefinite

April 17, 2025

Business·Zimbabwe

Proof of Customs Duty Now Required for Groceries and Beverages

HARARE- Zimbabwe’s Finance Minister, Mthuli Ncube, has announced that all alcoholic and non-alcoholic beverages, as well as basic commodities like refined sugar, detergents, and dairy products, will now be considered smuggled unless sellers can provide proof of customs duty payment. Government claims

March 15, 2025

South Africa’s Finance Minister, Enoch Godongwana

Business·Featured·Politics·South Africa

Opposition Parties Reject VAT Increase in Budget Debate

JOHANNESBURG- South Africa’s Finance Minister, Enoch Godongwana, has sparked widespread opposition with his announcement that the Value-Added Tax (VAT) will rise to 16% by the 2026/27 financial year. The hike, which will occur in two stages—an increase of 0.5 percentage points in

March 13, 2025

Business·Zimbabwe

Zimbabwe businesses free to set prices using market exchange rates

Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has announced that businesses can set their prices based on market exchange rates rather than adhering strictly to the official central bank rate. He made the statement during a meeting with the Tourism Business

March 10, 2025

Business·South Africa

Mahindra Explores Vehicle Assembly Expansion in South Africa

JOHANNESBURG – Indian automaker Mahindra has signed a memorandum of understanding (MoU) with South Africa’s Industrial Development Corporation (IDC) to explore the possibility of establishing a full-scale vehicle assembly plant in the country. The agreement will facilitate a detailed feasibility study to assess

February 27, 2025

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South Africa considers BEE exemption for Starlink

EcoCash Launches Global Money Transfers From Zimbabwe

Zimbabwe Finance Ministry owes ZiscoSteel pensioners US$38.7 million

Malema Calls for Deputy Ministers to Be Scrapped to Cut State Spending

South Africa to Reverse Proposed VAT Increase

Legal Battle Freezes Zimbabwe’s US$1.6M Rural Telemedicine Lifeline

Proof of Customs Duty Now Required for Groceries and Beverages

Opposition Parties Reject VAT Increase in Budget Debate

Zimbabwe businesses free to set prices using market exchange rates

Mahindra Explores Vehicle Assembly Expansion in South Africa

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