Economy

Airtel Kenya ordered to shut down betting paybills

Kenya's Betting Control and Licensing Board (BCLB) has ordered Airtel to shut down the playbill numbers of betting firms whose licences it has not renewed.

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Kenya launches Africa's biggest wind farm

Kenya on Friday inaugurated Africa's biggest wind power plant, a mammoth project in a gusty stretch of remote wilderness that now provides nearly a fifth of the country's energy needs.

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Meat importers warn against poultry tariff increase

The Association of Meat Importers and Exporters has warned government against announcing a 66% increase on tariffs for imported chicken products, saying such an increase would see prices skyrocket and jobs plucked from the meat industry.

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Vodafone CEO takes $1.6m bonus cut after share slide

Vodafone said it will cut long-term bonuses for its top two executives by a fifth after an investor advisory group took issue with the United Kingdom phone company’s remuneration plan.

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Zimbabwe State workers accept pay deal, avert strike

Zimbabwe’s public sector workers said on Thursday they had accepted a government pay offer, averting a potentially-damaging strike in a country facing its worst economic crisis in a decade.

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Lake Chad group launches $100 million fund against jihadists

The four countries bordering Lake Chad on Friday launched a fund aimed at collecting $100 million to help counter climate change and a devastating jihadist insurgency.

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Naspers announces September date for Prosus listing

Naspers plans to list its international internet assets, in a company called Prosus, on the Euronext Amsterdam Exchange and the Johannesburg Stock Exchange (JSE) on September 11.

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SA not scrapping economic empowerment policy: President

South African President, Cyril Ramaphosa, says Broad Based Black Economic Empowerment (BBBEE) will not be scrapped.

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PepsiCo plans to acquire Pioneer Foods

United States-based beverage and snack maker, PepsiCo (PEP.O), is planning to acquire South Africa’s Pioneer Food Group for around $1.7 billion, the two companies said on Friday, as it targets expansion in Africa.

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Boeing takes $4.9bn charge for prolonged grounding of 737 planes

Boeing Co (BA.N) said on Thursday it would take an after-tax charge of $4.9 billion in the second quarter on estimated disruptions from the prolonged grounding of its lucrative 737 MAX passenger jets after two deadly crashes.

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