Rising megacities: A superhighway for Africa’s shared mobility market

Rising megacities: A superhighway for Africa’s shared mobility market

By Conrad Onyango, bird story agency As Africa's urban centres continue to grow and with an increasing number of cities now expected to surpass 10 million residents, the shared mobility sector is expanding fast too, raising prospects of more income for cab-hailing companies and drivers. Global management firm, Oliver Wyman, has revealed in a new report that ride-hailing, scooter or e-bike rentals, and car-sharing, which together make up […]

January 18, 2024 23

Business / Economics

Oil demand growth to halve in 2024: IEA

World oil supply will continue to rise this year, the International Energy Agency said Thursday, as it predicted that demand growth would continue a downward slide throughout 2024. The Paris-based IEA, which advises oil-consuming nations, said it expects increase in global oil demand to halve from 2.3 million barrels per day (bpd) last year to 1.2 million bpd in 2024. It cited economic headwinds, tighter efficiency standards and growth in […]

January 18, 2024 25

Business / Economics

The importance of stakeholder management

By Mignon du Preez, Group Marketing, Public Affairs and Sustainability Executive, Old Mutual Namibia Stakeholder involvement is becoming more and more prominent in the complex world of modern business; it's a dynamic interaction that goes beyond boardrooms and spreadsheets. It's an acknowledgment that companies are part of a web of relationships with different stakeholders and are not separate entities. This article highlights the significance of stakeholder involvement, presenting […]

January 18, 2024 22

Business / Economics

Recent Developments in African Economies: Namibia Leads in Drilling Rig Demand, South Africa Faces Retail Sales Decline, Nigeria Resolves Forex Forward Liabilities, and Oil Prices Rise

Here's your morning Biz News. Namibia's prominence in the competitive energy sector is underscored by its top-five position among African countries with the highest demand for drilling rigs, according to the State of African Energy 2024 Outlook. The African Energy Chamber recognizes Namibia's significant role in efficient and sustainable resource exploration. South Africa experiences a 0.9% year-on-year decline in retail sales in November, following a revised 2.3% drop in October, […]

January 18, 2024 7

Africa

AfCFTA to boost regional trade by 80%

More than half of African countries will use the rules of a continental free-trade pact this year as the continent moves closer to fully integrating into a single market. According to Bloomberg News, AfCFTA Secretary-General Wamkele Mene told a World Economic Forum panel in Davos Tuesday that of the 47 countries that have ratified the African Continental Free Trade Area, 31 will join the trade initiative, up from seven in […]

January 17, 2024 10

Business / Economics

Showmax steps up streaming battle with Premier League on mobile plan

By Conrad Onyango, bird story agency After taking over Africa’s market mantle from US streaming giant, Netflix, in 2023, South Africa’s Showmax is turning to smartphones to tap into a wider pool of football fanatics. The MultiChoice-owned streamer has introduced mobile-only subscriptions for Premier League content as part of a new package for its second iteration- Showmax 2.0, launching in mid-February. “Showmax Premier League is a game-changing product that […]

January 17, 2024 49

Business / Economics

Market Moves and Financial Frontiers: Trustco’s Strategic Investment, Fuel Price Projections, Corporate Governance Agreements, and Asian Stocks’ Setback Unveiled

1. Trustco Group Holdings Secures NAD 950 Million Investment from Riskowitz Value Fund LP In a strategic move to bolster its financial standing and consolidate its presence in the local economy, Trustco Group Holdings Limited is on the brink of finalizing significant deals with key shareholders. A substantial cash investment, expected to reach up to NAD 950 million, is in the pipeline, with the United States fund, Riskowitz Value Fund […]

January 17, 2024 5

Business / Economics

CRAN revokes UCOM Mobile’s spectrum licences

The Communications Regulatory Authority of Namibia has revoked the Spectrum Licences of UCOM Mobile Namibia formerly MTN Business Namibia due to its failure to settle over N$19.3 million license fees arrears. CRAN’s Jairus Kapenda, the Manager of Communication and International Relations.

January 16, 2024 70

Business / Economics

Trustco secures N$ 950 million investment

Trustco Group Holdings Limited is finalising deals with key shareholders, including a cash investment of up to NAD 950 million from the United States fund Riskowitz Value Fund LP. The move solidifies RVF as a key anchor foreign investor, allowing Trustco to cement existing investments in the local economy. Quinton Van Rooyen Junior, Trustco's Deputy CEO.

January 16, 2024 45