Lawmakers push for TikTok divestment amid national security concerns

U.S. lawmakers propose bipartisan legislation to compel ByteDance, TikTok's parent company, to divest or face a ban.

March 7, 2024 5

Weekly Economics Wrap: Recent Developments in African Business: Market Dynamics, Regulatory Shifts, and Global Impacts

Schwenk Zement International GmbH Terminates Purchase Agreement with RWCo GmbH In a surprising turn of events, Schwenk Zement International GmbH has officially terminated its purchase agreement with RWCo GmbH regarding shares in Schwenk Namibia (Pty) Ltd. The stumbling block cited by RWCo is the Namibian Competition Commission conditions linked to the deal's approval. RWCo argues that these conditions lack a legal basis under Namibian competition law. This development adds a […]

March 7, 2024 13

Business / Economics

07 March 2024 Morning Biz News: Namibia’s Oshikoto Region Receives Boost with N$400 Million Investment in Otjikoto Biomass Power Station

In a strategic move to combat energy supply shortages in the Oshikoto Region, the Namibian government has allocated a budget of N$400 million for the development of the 40-megawatt Otjikoto Biomass Power Station, located on the outskirts of Tsumeb. The announcement came from the Minister of Finance and Public Enterprises, Iipumbu Shiimi, emphasizing the government's commitment to enhancing the region's energy infrastructure. The Otjikoto Biomass Power Station is poised to […]

March 7, 2024 20

Business / Economics

Former Twitter executives say Musk owes them millions

Former Twitter executives fired by Elon Musk have filed a lawsuit accusing the billionaire of owing them more than one hundred twenty-eight million dollars in severance pay.

March 6, 2024 47

Business / Economics

Telecom Namibia improves service quality

Telecom Namibia has announced the signing of key customer-facing business processes, marking a step forward in its commitment to improving service quality. This initiative forms phase one of a broader project, named Project Phoenix, aimed at optimising all internal processes within the s. Here's Telecom spokesperson Nomvula Kambinda with more.

March 6, 2024 71

Business / Economics

Digital Market Strategist explains Meta outage impact on local businesses

Following widespread technical problems lasting more than two hours Tuesday, with hundreds of thousands of users logging errors in accessing the social media services on Facebook, Instagram, and Threads, all Meta apps, we spoke to Digital Market Strategist Nrupesh Soni for his take on the outage.

March 6, 2024 41

Africa

Binance to stop transactions in Nigeria

Binance, the world's largest cryptocurrency exchange, is ending all transactions and trading in Nigeria's local currency after 8 March 2024. This after Nigeria clamped down on the global crypto exchange, blaming it for feeding a black market for foreign exchange. Ajeck Mangut reports from Abuja.

March 6, 2024 20

Business / Economics

Establishment of the Association of the Namibian property industry

Neil Gopal, SAPOA CEO; Ben Jooste, NPA President, Oryx Properties CEO; Terence Makari, NPA Deputy President, O&L Director; Karen Keys, Broll MD; Charles Fourie, SAFLAND MD In a historic move to strengthen Namibia's expanding property sector, the South African Property Owners Association (SAPOA), together with their Namibian counterparts, today launched the newly formed Association of the Namibian property industry, known as the Namibian Property Association (NPA). This collaborative endeavour demonstrates […]

March 6, 2024 106

Business / Economics

Stalemate: WTO talks again fail to end overfishing subsidies

A crewmember working the net on a research trawl vessel. Image by Jennifer Gilden/Pacific Fishery Management Council via Flickr (CC BY-SA 2.0 Deed). By Elizabeth Fitt via Mongabay Ambitions to finalize a two-part treaty to equitably stop governments from funding overfishing were dashed again at the World Trade Organization’s 13th ministerial conference in Abu Dhabi, which ended in the early hours of March 2. “This outcome is not just disappointing; it’s a dire blow […]

March 6, 2024 31