Category: Southern Africa
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AngloGold Ashanti exits SA, sells mines for US$297 million
AngloGold Ashanti is selling its Mponeng mine and Mine Waste Solutions tailings recycling business to Harmony Gold for $300m (about R4.4bn), marking the end of its exposure to SA mining. Harmony will pay $200m in cash and $260/oz of gold from Mponeng and other underground assets included in the transaction based on production above 250,000oz/year.…
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MTN reveals revenue growth despite drop in subscribers
On Thursday, 31 October 2019, MTN South Africa published its trading update showing mixed results for the last nine months, ending 31 September 2019. The mobile network provider indicated that although there has been a slight growth in service revenue (of 9.6%), there has also been a small drop in subscribers (of 0.3 million). “Service…
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![[Article] Winning Women of Wine](https://citibusinessnews.com/wp-content/uploads/2019/10/red-wine-toast.jpg)
[Article] Winning Women of Wine
The atrocities that women face in their daily lives especially in the world of work have been well documented. According to the United Nations Development Programme (UNDP), in 2014, Africa ‘lost’ up to $105 billion from gender gaps in labour markets alone, almost 6% of all production. From sexual harassment, intimidation, to sheer humiliation, the…
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Zimbabwe electricity price shoots up by 320 percent
Zimbabwe’s power regulator has increased the average electricity price by 320 percent. The decision was taken to allow it to ramp up production and improve supplies amid daily power cuts. Essentially, the electricity company needs more money to pay for things like diesel to power the generators. Zimbabwe is grappling with the worst economic crisis…
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Selling added value: The case of Wines of South Africa
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The importance of agriculture in Africa’s development agenda, as a driver of economic growth, transformation and in helping end hunger has been reiterated over the years if not decades. The 2014 Malabo Declaration for example and the re-commitment to the principles of the Comprehensive Africa Agriculture Development Program (CAADP) (which is Africa’s policy framework for…
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South Africans urged to withdraw ‘enough cash’ ahead of banking strike
South Africans have been urged to withdraw sufficient cash to sustain livelihoods during an anticipated national strike in the banking sector. Automated Teller Machines (ATMs) and banking services will be shut down on Friday, as the country’s biggest financial union Sasbo leads a strike against retrenchments. Sasbo’s Joe Kokela cautioned South Africans to brace themselves…
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UK’s Richelle Van Gemert wins Wines of South Africa Sommelier Cup 2019
In what can only be described as an epic battle of skill, concentration and attention to detail, Richelle van Gemert, from the United Kingdom, has been crowned as the winner of the 2019 edition of the Wines of South Africa (WOSA) Sommelier Cup. Following several rigorous semi-final rounds in various countries, a total of 11…
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South Africa seeks more investors
The 2019 World Economic Forum was held once again in South Africa after two years, bringing over 1000 participants including global business leaders and young entrepreneurs to a country in need of investment. South Africa president, Cyril Ramaphosa came to power on a promise to restore investor’s confidence by fighting corruption and steering the economy…
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Mugabe to be buried coming Sunday, September 15
Zimbabwe’s former president Robert Mugabe who died Friday in Singapore at the age of 95, is scheduled to be buried on Sunday, September 15, in a location yet to be determined, the presidency announced Sunday. “His remains are expected on Wednesday afternoon (in Zimbabwe). The official funeral is scheduled for Saturday, his funeral will take…
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South Africa grants Ghana visa-free status
The South African government has granted Ghana a visa-free status, which would see Ghanaians enter southern Africa country without any visa. The South Africa Department of Home Affairs revealed this when it listed Ghana as part of seven countries allowed to enter South Africa without visa. Last year, it was announced that Ghana is among…