Business

US authorities have issued a notice, warning US companies and individuals to do business with Sudanese state-owned and military-controlled companies. According to the State Department, there was a reputational risk of doing business with these companies amid a deterioration in the human rights situation in Sudan. It said while some …

Beers outsell soft drinks in South Africa, according to consumer data analysts at NielsenIQ SA. “We track sales in over 150,000 outlets… whether that’s formal grocery stores, taverns, spaza stores [kiosks],” a spokesman told eNCA news. His company said beer sales in South Africa had risen by 8% over the …

The Cemac Banking Commission (Cobac), has not accepted the adoption by the Central African authorities of the Bitcoin cryptocurrency as one of the country’s official currencies. Following an extraordinary meeting on May 6, the Cobac banned the use of cryptocurrencies in banking and financial institutions in the countries of the …

Zimbabwe’s central bank has lifted the suspension on bank lending services that was meant to stop the slide of the local currency, the BBC reported. Authorities have gradually walked back from the proposal. Inflation has surged to over 96% in the country, as the government blames currency speculators who it …

American singer Rihanna has announced that her Fenty Beauty and Fenty Skin products will be available in eight African countries from the end of this month. Rihanna said Fenty Beauty and Fenty Skin products will be available in eight African countries, including Botswana, Ghana, Kenya, Namibia, Nigeria, South Africa, Zambia …

Zimbabwean government on Saturday ordered banks to stop lending with immediate effect in a move Harare said was designed to stop speculation against the Zimbabwean dollar and was part of a raft of measures to arrest its rapid devaluation on the black market, Reuters reported. The southern African country reintroduced …

Ghanaian businessman, Dr Kofi Amoah has urged the world’s richest man, Elon Musk, to buy up the African continent and remove all its leaders. In a tweet earlier in the week, new boss of Twitter, Musk suggested he was going to buy Coca-Cola next, adding that he’d “put cocaine back” …

Algeria has threatened to cut off its gas supply to Spain if any of it ends up in another country that is not specified in the contract. It said supplying the gas to a third destination would be a breach of contract between Algeria’s state-owned Sonatrach and its Spanish customer. …

Authorities in the Central African Republic adopted the Bitcoin cryptocurrency as an official currency on Wednesday, Reuters reported, citing the presidency. The country then becomes the first in Africa and only the second in the world to do so. Despite rich reserves of gold and diamonds, Central African Republic is …

Tesla Chief Executive Officer, Elon Musk, becomes the new owner of Twitter after buying the social network for around 44 billion dollars. The billionaire has concluded the agreement with the social network on Monday, April 25. “Free speech is the foundation of a functioning democracy, and Twitter is the digital …