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Asian stocks open higher on fed rate hopes
Asian stocks kicked off positively on expectations of upcoming US rate cuts, with Hong Kong leading the charge. Tokyo initially dipped due to a strengthening yen influenced by Fed policy speculation. But the broader region showed optimism following the Fed signaling potential slowing of hikes amid cooling global inflation. Shanghai, Seoul, Sydney, Taipei, Wellington, Jakarta,
Fuel price set to drop in January
The outlook for 2024 is promising, as the Automobile Association (AA) anticipates a favorable start with a projected decrease in fuel prices next month. According to the AA, relying on unaudited data from the Central Energy Fund (CEF), there is a likelihood of a 54 cents per litre reduction in the price of 95 unleaded
OPPO introduces the A58 smartphone
OPPO has unveiled its latest addition to the A series lineup, the A58, aiming to elevate the entertainment experience across diverse scenarios. The smartphone, available in Glowing Black and Dazzling Green, boasts a sleek design weighing only 192g and measuring a slim 7.99 mm in thickness, ensuring a comfortable grip and convenient pocket fit. The
Nigeria and South Africa nearing first-ever gas deal
Nigeria-based Riverside LNG revealed it is in talks to export gas to South Africa, which would represent the inaugural energy deal between the nations. Riverside, boasting Africa's largest gas reserves, recently signed an export agreement with a German partner and now pursues additional continental deals per CEO David Ige. Ige disclosed nearing finalization of an
Libya’s stock market resumes 9 years since closure
After a hiatus of over nine years due to political and security challenges, Libya's stock market reopened for trading in the capital, Tripoli. The Government of National Unity's Prime Minister, Abdulhamid al-Dbeibah, and the chairperson of the board of directors, Bashir Mohamed Ashour, along with other officials, marked the occasion by ringing the bell. The
Toyota’s Daihatsu is suspending all domestic production
In the wake of a far-reaching safety testing scandal spanning several decades, Japanese automaker Daihatsu has ceased all domestic production. The Toyota-owned subsidiary, accused of manipulating safety tests dating back to at least 1989, shuttered its four Japanese plants, affecting around 9,000 factory workers. The repercussions are anticipated to disrupt operations for over 8,000 affiliated
Baggage disasters at OR Tambo International
Airports Company South Africa (ACSA) has extended its sincere apologies to passengers who experienced delays in receiving their baggage upon arrival at domestic airports. The incident occurred due to a malfunction in the baggage sorting system at OR Tambo International Airport on Saturday, causing inconvenience for thousands of travelers who were left without their luggage
Ships struggling to deliver goods over overwhelmed African ports
Shipping companies opting to navigate around the Cape of Good Hope to avoid Houthi attacks in the Red Sea are confronting challenging decisions regarding refueling and restocking. African ports, grappling with bureaucratic hurdles, congestion, and subpar facilities, pose a dilemma for these vessels. Numerous large ships are choosing the longer route around the southern tip
Angola exits OPEC over reduced production quotas
Angola declared its exit from the OPEC oil producers cartel on Thursday, because of disagreements over reduced production quotas that surfaced earlier this year. Angola's oil minister, Diamantino de Azevedo said that the country "does not gain anything by remaining in the organization," as reported by the state news agency Angop. Angola had been a
50 Years Fast: Alpina Drops Exclusive B3 to Celebrate BMW's SA Anniversary
Alpina, the German company renowned for crafting high-performance versions of BMW cars, has crafted a limited edition sedan to commemorate the 50th anniversary of BMW South Africa. The Alpina B3 AWD 50 Years of BMW South Africa edition, available exclusively in South Africa, comes in the distinctive Alpina Green II metallic paint finish. Inspired by
Nigeria ready to receive $6 billion investment from TotalEnergies
French energy giant TotalEnergies has expressed readiness to invest $6 billion (approximately €5.5 billion) over several years in Nigeria's energy sector, with a focus on gas and offshore projects. The announcement was made during talks between TotalEnergies CEO Patrick Pouyanné and Nigerian Head of State Bola Ahmed Tinubu in Abuja. Pouyanné highlighted Nigeria's significance for
MTN Nigeria to disconnect unverified subscribers
MTN Nigeria is set to disconnect customers who have not adhered to the new national identity regulations, following an industry-wide directive from the Nigerian government. In April 2022, the Nigerian Communications Commission (NCC) mandated all operators to restrict outgoing calls for subscribers whose SIMs are not linked to their national identity numbers (NINs). MTN, in
E-commerce Strategy launches in Kenya
Kenya has unveiled its National E-Commerce Strategy, a collaborative initiative involving the government, private sector stakeholders, and industry experts. This strategic move aims to streamline the rapidly expanding e-commerce sector in response to the flourishing digital economy. The National E-Commerce Strategy reflects Kenya's commitment to becoming a regional hub for e-commerce, positioning it as a
Introducing the HUAWEI MateBook D 16 2024: Your Lightweight Powerhouse for Work, Play, and Learning
HUAWEI has announced the release of the new HUAWEI MateBook D 16 2024. The laptop retains its 16-inch large screen real estate, is now lighter and yet still just as powerful, adding a boost of power to its 13th Gen Intel® Core™ i9-13900H Processor with the Dual Shark Fin Fan technology and up to 70
OMAI fuels South Africa's renewable energy drive with major investment in solar power storage project
In a significant boost to South Africa's renewable energy sector, Old Mutual Alternative Investments (OMAI) today announced a substantial investment in the country’s energy infrastructure today of approximately R158 million through its Hybrid Equity division. This deal comes hot off the heels of the world’s largest congress on climate change, COP28, where African leaders emphasised
Digital Mall’s Pan-African Partnership with ayoba to Create Connected Experiences across the Continent
Digital Mall, a digital department store defined by exclusivity and accessibility, has partnered with ayoba, a pan-African super-app with millions of users. The aim of this partnership is to deliver a cohesive ecosystem of digital services designed to empower merchants and drive entrepreneurship across the continent. It is a partnership that recognises the value of African
Sun International set to buy Emperors Palace Resort
Sun International has unveiled plans to acquire all the issued ordinary shares and any claims on loan accounts against Peermont Holdings Proprietary Limited. The agreement, yet to determine the exact cash consideration payable, is valued at an enterprise value of R7.3 billion for Peermont. Peermont, renowned for its flagship Emperors Palace Resort in Johannesburg, operates
A service-led IT solutions environment in store for the channel in 2024
In recent years, Africa has been experiencing a reinvention through adopting digital transformation. Improved connectivity, the ubiquity of mobile devices, and a willingness by corporates across industry sectors to embrace hybrid and multi-cloud environments are contributing to how advanced technologies are being adopted. For channel providers, a service-led approach that enhances digital distribution capabilities can
“Share” a gift this festive season
Gifting your loved ones with traditional gifts this festive season is great, but have you ever thought of gifting shares, ETFs, ETNs or even a Unit Trust as an investment for the future and a gift that has the ability to keep on giving? This can be an even more thoughtful way to secure your
Green Energy Milestone: Ghana’s Largest Rooftop Solar Installation Earns Ministerial Approval
Powered by Sungrow, Africa’s largest rooftop solar installation has received the seal of approval from Ghana’s Minister of Energy, Honourable Dr Matthew Prempeh-Opoku during his recent visit to the project site located in the Tema Freezone, Ghana. Owned by Helios Solar Company (part of LMI Holdings), the 16.82 megawatt project utilizes Sungrow’s cutting-edge SG350HX PV