African Business News - Economic Updates & Analysis

Finance Minister Mthuli Ncube arriving at Mt Hampden Parliament Building for budget presentation

Zimbabwe’s Finance Minister to Unveil 2025 Budget Today

Zimbabwe’s Finance Minister Professor Mthuli Ncube will present the nation’s 2025 budget statement in Parliament today, as the country seeks solutions to its deepening economic challenges. The presentation at the new Mt Hampden Parliament Building comes at a critical time for Zimbabwe’s

November 28, 2024

Russian President Vladimir Putin The IMF said that Russia usurped Japan s position as the fourth largest economy in the world Picture Alexander KAZAKOV SPUTNIK AFP 2

Breaking News·Business·Europe

Russia Becomes World’s Fourth-Largest Economy Despite Sanctions

Russia has overtaken Japan to become the world’s fourth-largest economy, according to new International Monetary Fund (IMF) data, despite facing thousands of Western sanctions. The IMF reports that Russia now accounts for 3.55% of global GDP measured by purchasing power parity (PPP),

October 25, 2024

Business·Zimbabwe

Starlink sells out in Zimbabwe weeks after launch

Elon Musk’s satellite internet service Starlink has sold out in Zimbabwe’s capital Harare, just weeks after getting regulatory approval. Zimbabwe becomes the second African nation after Nigeria to report Starlink terminals selling out in major cities. The high demand comes as local

October 24, 2024

President Cyril Ramaphosa and Tesla and SpaceX CEO Elon Musk. (Presidency/X/Supplied)

Business·South Africa

South Africa’s Ramaphosa meets Elon Musk to discuss investment

South African President Cyril Ramaphosa has met with tech billionaire Elon Musk in New York to discuss potential investment opportunities, the presidency has announced. The meeting took place on the sidelines of the 79th UN General Assembly, where Mr Ramaphosa had earlier

September 24, 2024

Business·Zimbabwe

Forex Shortage Hinders Zimbabwe Gold (ZiG) Adoption by Industry

ZIMBABWE | Industry is grappling with forex shortage as banks withhold funds for inputs, jeopardizing Zimbabwe Gold acceptance. Businesses face hurdles in accessing USD for vital imports, hindering ZiG’s adoption despite its launch to replace the Zimbabwe dollar on April 5, 2024.

May 12, 2024

Business·Zimbabwe

Mthuli Ncube Introduces ZiG200,000 Fine for Exchange Rate Violations

Finance Minister Mthuli Ncube has announced a ZiG200,000 fine for traders found violating exchange rate regulations. The new penalty targets individuals and corporates who set prices above the official exchange rate. Zimbabwe introduced the Zimbabwe Gold (ZiG) currency on April 5 to

May 10, 2024

Business·Zimbabwe

CCC MP Advocates Transfer of Radio and TV License Collection from ZBC to BAZ

During the belated World Press Freedom Day celebrations in Harare on Monday, May 6th, Caston Matewu (CCC), Member of Parliament for Marondera Central, advocated for the transfer of tv and radio licensing duties from the Zimbabwe Broadcasting Corporation (ZBC) to the Broadcasting

May 7, 2024

Econet says send money for free from South Africa and the UK

Business·South Africa·United Kingdom·Zimbabwe

Econet Introduces Free Money Transfers to Zimbabwe

Econet Wireless, Zimbabwe’s leading telecommunications and technology company, has pioneered Africa’s first initiative by launching two free remittance corridors into the country, eliminating costs for both senders and recipients. In collaboration with its affiliate, Sasai Money Transfer, Econet now enables individuals and

May 2, 2024

Business·Zimbabwe

First Capital Bank Expands Credit Lines and Initiatives for Growth

First Capital Bank (FCB) has actively engaged the African Development Bank (AfDB) and Trade Development Bank (TDB) for fresh lines of credit, following substantial drawdowns on previous loans. The drawdown on €12.5 million from the European Investment Bank has been exhausted, while

April 30, 2024

Mark Zuckerbergs fortune plunged US$18 billion as shares of Meta Platforms tumbled allowing Teslas Elon Musk to cement his status as the worlds third richest billionaire

America·Business

Zuckerberg’s Fortune Falls as Meta Shares Drop, Musk Climbs Billionaire Ranks

A sharp decline in Meta Platforms’ shares led to a staggering $18 billion drop in Mark Zuckerberg’s fortune. This downturn enabled Elon Musk of Tesla to secure his status as the third-wealthiest individual globally. Meta’s shares plunged by 11 percent in New

April 29, 2024

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Business - Page 2

Zimbabwe’s Finance Minister to Unveil 2025 Budget Today

Russia Becomes World’s Fourth-Largest Economy Despite Sanctions

Starlink sells out in Zimbabwe weeks after launch

South Africa’s Ramaphosa meets Elon Musk to discuss investment

Forex Shortage Hinders Zimbabwe Gold (ZiG) Adoption by Industry

Mthuli Ncube Introduces ZiG200,000 Fine for Exchange Rate Violations

CCC MP Advocates Transfer of Radio and TV License Collection from ZBC to BAZ

Econet Introduces Free Money Transfers to Zimbabwe

First Capital Bank Expands Credit Lines and Initiatives for Growth

Zuckerberg’s Fortune Falls as Meta Shares Drop, Musk Climbs Billionaire Ranks

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