Solar Installations Slowdown: South African solar installers have noticed a decline in demand for inverters, batteries, and solar panels in recent months. Possible causes for the drop-off in demand include lower-than-expected load-shedding, high interest rates, rand depreciation, and general affordability…
TymeBank New York Listing: TymeBank, a South African digital bank backed by China’s Tencent Holdings Ltd., is raising $150m as it sets its sights on an initial public offering (IPO). Also, TymeBank is one of Africa’s fastest-growing digital banks and…
Telkom Full-Year Earnings Surge: Telkom, a popular telecommunications group, has predicted a rise in its revenue in the forthcoming annual results for the year ended 31 March (FY2024). Telkom climbed 5.7% to close at R24.99 per share yesterday on news…
Cell C has declared plans to sell 44 of its 47 company-owned stores, in line with its strategy to leverage partnerships to promote revenue and drive growth. The company plans to retain three flagship stores. They are Mall of Africa…
Standard Bank, one of the Big Four banks, has announced its new mobile virtual network operator (MVNO) collaboration with MTN SA. Also, as part of its strategic telecoms path, the bank says Standard Bank Mobile will now be called Standard…
Bank Recapitalisation ASHON: The Chairman of ASHON, Association of Securities Dealing Houses of Nigeria, Mr. Sam Onukwue stated that the new development in capital requirements of banks will stimulate activities in the primary segment of the Nigerian capital market. Bank…
Access Bank BancABC Tanzania Acquisition: Expansion is a major pointer of any successful business. Access Bank Plc has finally acquired African Banking Corporation Limited (BancABC) Tanzania. This development aligns with its strategic expansion goals across Africa. Access Bank BancABC Tanzania…
Afreximbank, African Export-Import Bank declared the distribution of a $40 million Intra-African Investment Facility to Fidelity Bank Plc. The investment is to support Fidelity Bank’s acquisition and recapitalization of Union Bank UK as part of its international development program. Afreximbank…
Bolt Uber Kenya Fare Hike: Uber and Bolt, popular ride-hailing companies, may increase their fares in Kenya due to a new 6 per cent tax levied by the Kenyan government. The levy was placed on major foreign companies operating within…
Joburg power cuts started today. City Power has started enforcing load reduction in Johannesburg areas with exceedingly high electricity usage levels. This is to protect the country’s grid from collapsing. The development comes after warnings to frugally use the electricity…
