Business

The biotechnology company, Moderna, says it is intending to build a factory in Africa to produce mRNA vaccines, including its Covid- 19 jabs. Moderna said it aims to produce up to half a billion doses per year at the new facility which could also include bottling and packaging capacities. Read …

The internet giant Google has announced an investment of $1bn in Africa over five years to help boost the continent’s digital transformation. It marks the biggest investment by the US tech company in Africa and the countries to benefit include Ghana, Kenya, Nigeria and South Africa. One of the plans …

Participating to The Dubai Expo, the Ugandan president Yoweri Museveni rallied investors from the United Arab Emirates (UAE), to take advantage of the resources and market the county’s beauty and potential in a bid to invite investors into the country. The Dubai Expo is a globally recognised trade event and …

Mozambican police seized about $ 16,000 in counterfeit banknotes which investigators say were fabricated by a regional union specializing in printing counterfeit currency. Police said they had arrested two Angolans, and arrest warrants for other suspects would be issued. “Mozambican, Angolan and South African nationals were suspected to be part …

The banking services which had been discontinued due to insecurity in the region and a lack of electricity supply, have been restored in the northern Mozambican town of Mueda in the restive Cabo Delgado province. Local media say civil servants living in the area used to travel to Montepuez, 220km …

Thailand on Wednesday will start collecting value added tax (VAT) from foreign technology companies and expects to raise at least 5 billion baht ($154.70 million) in additional revenue each year, a senior official said. Foreign platforms providing electronic services in Thailand will have to register for VAT payments, senior finance …

South African Airlines has announced that it will resume operations next month after battling losses for months amid the coronavirus pandemic. The airline reduced its workforce from 4,700 to around 1,000 employees, essentially becoming a smaller airline. The reduction was achieved through voluntary severance packages and retrenchments. Flights will now …

Authorities in Zanzibar have announced their plan to build sub-Saharan Africa’s tallest skyscraper that will cost $1.3bn. The 70-storey Zanzibar Domino Commercial Tower will exceed the semi-autonomous archipelago’s annual budget by more than 60%, AFP news agency reports. It will involve a man-made island with a marina for yachts and …

Government in Nigeria said under a new law which came into effect on Tuesday, it will disband state-owned oil company. The Nigerian National Petroleum Corporation would be replaced by an independent company. President Muhammadu Buhari said the Petroleum Industry Law, which was nearly 20 years in the making, marked the …

After failing to deliver 3.4 million doses of Russia’s Sputnik V Covid vaccine, a UAE firm linked to a member of the country’s royal family has agreed to refund about $2m to Ghana’s health ministry, local media outlets report. The doses were to be supplied by end of June, but …