insert_link South Africa South African Municipal Workers Union Demands Urgent Action on Municipal Financial Mismanagement The South African Municipal Workers Union is calling for urgent and decisive action to address the financial, governance, and service delivery challenges facing the country’s municipalities. This follows the release of the 2022-2023 Municipal Finance Management Act audit outcomes. Findings by Auditor General Tsakani Maluleke indicate that 110 municipalities collectively incurred 27.3-billion-rand in fruitless and wasteful expenditure. Samwu’s spokesperson, Papikie Mohale, says stronger measures must be put in place to […] todayAugust 28, 2024 17
insert_link APO International Afreximbank President to Usher New Era of African Sustainable Investment, Local Content Development as African Energy Week (AEW) 2024 Keynote Speaker Pan-African finance institution the African Export-Import Bank (Afreximbank) (apo-opa.co/4767rgi) recently announced that it will provide $650 million in funding for multinational energy company Oando Plc’s acquisition of exploration and production company the Nigerian Agip Oil Company. The loan includes a senior and junior reserved-based lending facility to the tune of $500 million and $150 million, respectively, and will see Oando Plc acquire 100% of the shareholding interest in the Nigerian […] todayAugust 28, 2024 5
insert_link APO International CORRECTION: The African Energy Chamber (AEC) Visits China to Tap into Private Investment for African Energy and Infrastructure Chinese foreign direct investment in Africa has increased significantly in recent years as Beijing strengthens its global trade and credit lines. Programs such as the Belt and Road Initiative – a China-led global infrastructure initiative – have seen up to $21.7 billion invested in Africa in 2023 alone while together, state-owned China National Offshore Oil Corporation (CNOOC), China National Petroleum Corporation and China Petroleum&Chemical Corporation represent the fourth-largest energy investors […] todayAugust 28, 2024 5
insert_link APO International Flutterwave Expands African Footprint with Payment Systems License in Uganda Flutterwave (www.Flutterwave.com), a leading payments technology company, has received a Payment Systems Operator (PSO) license from the Bank of Uganda. This marks a key milestone in Flutterwave's expansion across Africa, adding Uganda to its growing list of countries where it operates. Uganda’s digital payment landscape is transforming, driven by a youthful and vibrant population — over 78% (https://apo-opa.co/3AHL6ti) of its citizens are under the age of 35. This demographic presents […] todayAugust 28, 2024 11
insert_link APO International The future of African hospitality: Investment, innovation and strategic partnerships Africa's tourism sector is poised for an exciting ascent, and it has the potential to soar if it is propelled by visionary strategies and robust investments that harness the continent's unparalleled tourist allure. Amid the unprecedented changes of recent years, Africa’s tourist appeal is greater than ever. With the right steps, it can offer more top destinations for today's tourists. The API Hospitality&Residences Forum is a pivotal platform for Africa’s […] todayAugust 28, 2024 3
insert_link Namibia Sharp Price Increases in Malt Liquor and Energy Sectors The Namibia Statistics Agency reports a significant 17.5 basis point rise in the producer price index for malt liquor and malt, driving inflation to 12.8% in Q2 2024, up from 2.4% last year. The energy sector also experienced a 9.2% price increase, reversing the previous year's decline. In contrast, overall manufacturing inflation fell by 2.7%, and mining and quarrying saw a deflation rate of 4.2%. Other sectors, including mineral waters […] todayAugust 28, 2024 11
insert_link South Africa Organisation Undoing Tax Abuse in South Africa is calling for urgent reforms in response to municipal financial management The Organisation Undoing Tax Abuse in S.A has called for immediate reforms following a troubling Auditor-General’s report on municipal financial management. The report reveals widespread financial mismanagement, weak oversight, inadequate internal controls, deteriorating infrastructure, and poor service delivery across municipalities, with only 13 percent of municipalities achieving clean audits. OUTA’s Julius Kleynhans says tackling issues like poor project management and unauthorised spending is essential for restoring public trust and enhancing […] todayAugust 28, 2024 11
insert_link Namibia Namibia and USADF to Launch Market Access Support Program Following MOU The Industrialization and Trade ministy as well as the United States Africa Development Foundation signed a Memorandum Of Understanding two years ago at the U.S-Africa Leadership Summit in Washington DC. This week, Minister ,Lucia Iipumbu and the USADF's Travis Adkins are set to launch and sign the Market Access Support Program in the capital. The ministry's Elijah Mukobonda. todayAugust 28, 2024 36
insert_link World Top US and China officials to meet on military, Taiwan and fentanyl US National Security Advisor Jake Sullivan and China's top diplomat Wang Yi said they were hoping for productive talks as they met in Beijing. The meetings are aimed at quieting tensions between the two superpowers ahead of the Nov. 5 U.S. election. Laura Westbrook reports from Hong Kong. todayAugust 28, 2024 10