LUSAKA (Reuters) -Zambia hopes to get an additional $145 million by extending its International Monetary Fund programme by another 12 months, its finance minister said on Tuesday. The Southern African copper-producing country has been trying to get its public finances back on track after running up a huge debt pile. It said last month that …
Zambia hopes to get extra $145 million from IMF programme extension Read More »
By Supantha Mukherjee STOCKHOLM (Reuters) -French mobile operator Orange said on Tuesday it plans to use OpenAI’s latest AI models with African languages. The benefits of AI models have largely bypassed African languages, numbering over 2,000, due to challenges such as lack of data and limited computational resources, according to researchers at Cornell University in …
Orange to use OpenAI’s latest models to work with African languages Read More »
By Siyanda Mthethwa JOHANNESBURG (Reuters) -China-founded e-commerce retailers Shein and Temu have captured a combined 3.6% share of South Africa’s retail, clothing, textile, footwear and leather (CTFL) market, accounting for 7.3 billion rand ($405 million) in sales in 2024, a report showed on Tuesday. Shein entered the market in 2020, followed by Temu in 2024. …
Shein and Temu outpace global retail giants in South Africa’s fashion market Read More »
JOHANNESBURG, August 5 (Reuters) -The South African rand was little changed in muted trade on Tuesday even after the release of a positive purchasing managers’ index survey as investors continued to wait for tariff updates ahead of the United States’ August 8 deadline. The rand was at 17.9225 against the dollar by 1533 GMT, a …
South African rand flat as tariff concerns weigh Read More »
By Sfundo Parakozov JOHANNESBURG (Reuters) -South African grocery group Pick n Pay on Tuesday reported a 4.3% increase in group turnover, buoyed mainly by strong growth in its discounter business Boxer, which it spun out and listed last year. Like-for-like sales, which exclude the impact of store openings, closures, conversions, or acquisitions, rose 3.8% during …
South Africa’s Pick n Pay turnover lifted by Boxer, on course for break even Read More »
HARARE (Reuters) -Zimbabwe’s platinum miners are owed millions of dollars in unpaid exports income under the government’s foreign currency retention rules, the mining chamber has said, hurting operations in a sector battling to recover from a price collapse. The southern African country requires all exporters to retain only 70% of their proceeds in foreign currency, …
Zimbabwe platinum miners owed millions in unpaid export earnings Read More »
JOHANNESBURG (Reuters) -South Africa’s Telkom reported a 6.5% rise in quarterly core profit on Tuesday, helped by subscriber growth and increased use of its “next-generation network” (NGN) offerings as it ditched legacy services. Earnings before interest, tax, depreciation and amortisation (EBITDA), came in at 2.8 billion rand ($155.62 million) in the first quarter ended June …
South Africa’s Telkom profit rises on subscriber growth and fibre services Read More »
By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s biggest grocery retailer Shoprite Holdings said on Tuesday it is selling its operations in Ghana and Malawi, marking another step towards consolidation of its activities across Africa to focus more on its home market. The supermarket retailer had expanded extensively in Africa, surpassing rivals such as Pick n …
South African grocery retailer Shoprite plans to exit Ghana and Malawi Read More »
By Emmanuel Bruce ACCRA (Reuters) -Ghana’s government has given satellite broadcaster DStv until Thursday to lower subscription prices or face a suspension of its broadcasting licence, the Communications Minister said. Samuel Nartey George said he had instructed the National Communications Authority to begin suspension proceedings against MultiChoice Ghana, the local operator of DStv, if it …
Ghana threatens to suspend DStv licence over subscription prices Read More »
(Refiles to fix spelling of “and” in the headline.) By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s Nedbank Group posted a 6% rise in half-yearly headline earnings on Tuesday, while announcing its intentions to sell its 21.2% stake in Pan-African lender Ecobank to focus on Southern Africa and East Africa regions. Ecobank’s operations in central and …
Nedbank to sell Ecobank stake as focus shifts to Southern and East Africa Read More »
