Economy

SA court postpones Khoi and San attempts to halt Amazon’s new Africa headquarters

A South African court on Friday postponed a ruling on a lawsuit from descendants of South Africa’s earliest inhabitants, the Khoi and San, to try to halt construction of Amazon’s new Africa headquarters on what they say is sacred land.

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SA President sees transition as way to energy security

South Africa must embark on a “just energy transition” to stimulate greater investment as a way to overcome damaging electricity shortages, said President Cyril Ramaphosa.

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Standard Bank goes 99% digital during pandemic

Standard Bank Group Ltd said 99% of its transaction volumes in South Africa are now cashless, a trend that has helped the continent’s largest lender by assets to cut costs.

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Tanzania LNG project talks drag on

Tanzania is moving cautiously in its lucrative natural gas deals with no end in sight of the Host Government Agreement (HGA) negotiations, which resumed recently but are set to take longer than expected.

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Malawi gears for duty-free week

Malawi will from today start a Duty-free Week set aside by the government to allow Malawian businesses and individuals to import goods whose Value for Duty Purpose (VDP) does not exceed $3 000, without paying any duties

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World Bank loan sparks fears of South African debt trap

Fears of a debt trap loomed large last week as it became apparent the government was set to extend the R350 ($23) a month Covid-19 Social Relief of Distress (SRD) grant for another year.

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‘African central banks set to hold rates with focus on growth’

Central banks in some of Africa’s biggest economies will likely look past high inflation and United States (US) policy tightening and hold interest rates over the coming weeks to shore up their recoveries from the Covid-19 stasis.

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French wheat exports falter as Algeria shuns its top supplier

Algeria’s move to halt imports of French wheat, in apparent fallout from a diplomatic row, threatens to leave France with a hefty stock surplus and encourage rivals to challenge its dominance of its top export market.

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Dangote oil refinery, petrochemical plant a game-changer: AFDB head 

African Development Bank (AfDB) President, Akinwumi A. Adesina, has described the Dangote oil refinery and petrochemical plant projects as a "game-changing initiative" that will spur Africa's development and deepen regional integration.

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Knysna ranked 19th best tourism destination in the world

Knysna Tourism authorities say they’re filled with pride after the town was named a top tourist destination in the world.

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