Business news round-up: August 2021
Africa’s latest business and investment news, including details on the fate of South Africa’s embattled Mango Airlines, Uganda’s dairy dispute with Kenya and Tanzania and Gabon’s newest Unesco-listed reserve.
Fears for Okavango Delta as Namibia drills for oil
A staggering 120 billion barrels of black gold are claimed to lie untapped beneath the semi-desert wilderness that straddles the Namibia-Botswana frontier. It’s been heralded as a get-out-of-poverty-quick card for these small, underdeveloped nations. But as exploration licenses begin to be issued, questions are being raised over how much oil really lies under the southern African sands, and what impact trying to find it could have on the wildlife, the half-a-billion safari industry and local farming communities alike. By Britt Collins.
Rihanna’s billion-dollar idea: Opinion
NewsAfrica’s Mary Fashoyin on how the Barbadian singer tapped into a gap in the market – and transformed the fashion and cosmetics industries.
Undocumented migrants make waves in Spanish fashion
Judy Cogan speaks to the illegal African migrants who’ve gone from selling Chinese-made knockoffs on the streets of Barcelona to opening their own streetwear boutiques to secure Spanish residency.
Ghana gets the okay for foreign investment
Ghana’s crackdown on money-laundering and counter-terror financing sees the country removed from the dreaded ‘grey list’. By Cliff Ekuful in Accra.
Telecom fraud is robbing taxpayers
As 4G rollout ramps up, authorities across Africa are working together to tackle cybercrime. By Zachary Ochieng.
Kenya grapples with debt crisis
As Kenya’s lockdown bills skyrocket, the country is faced with a new era of austerity, government borrowing and tax hikes. By Zachary Ochieng in Nairobi.
Africa embraces cannabis farming
Growing cannabis may have once earned you a visit from the police. But with medical marijuana becoming increasingly popular in the West, Judy Cogan discovers African governments are keen to cash in.
Business & Economy
Kenya’s recycling queen
The enterprising young businesswoman turning Nairobi’s plastic waste into environmentally friendly building materials. By Zachary Ochieng in Nairobi.
African business news: May 2021
Uganda-Tanzania oil deal to add 10,000 jobs to East African economy
Shipping rules hinder Nigerian growth
Foreign liners may continue to enjoy exclusive rights over Nigeria’s crude oil exports. But, as Francis Ezem reports, Nigerians may soon be able to get in on the act.
The latest African business news
Nigerian-born Dr Ngozi Okonjo-Iweala became the World Trade Organisation’s (WTO) first African and first woman Director-General when she commenced her role on March 1, 2021.