Ethiopia and Russia have forged a partnership to manufacture Lada cars in Ethiopia for the African market. The move highlights Ethiopia’s growing role as a manufacturing hub and its desire to tap into the expanding African automotive industry.
Author: Staff Writer
Enza Capital, a pan-African venture capital firm, has successfully closed its Fund II, securing an impressive $58 million in funding. The firm, based in Kenya, focuses on backing technology-driven startups across Africa that aim to solve significant challenges on the continent.
De Beers, a subsidiary of Anglo American Plc, has signed a significant 10-year sales deal with the government of Botswana, solidifying their partnership in the country’s diamond industry. The agreement encompasses both sales and mining aspects of the Debswana diamond venture.
The Mercedes-Benz EQS electric SUV raises the bar in terms of opulence, offering an array of premium features and cutting-edge technology for a truly luxurious driving experience.
The cost of chocolate could skyrocket in the coming months due to concerns over the cocoa crop in West Africa, particularly in Ivory Coast and Ghana, which account for two-thirds of global cocoa supply.
South Africa’s National Treasury has announced the appointment of Mmakgoshi Lekhethe as the new deputy director-general for asset and liability management. Lekhethe will assume her role on October 2, replacing Duncan Pieterse.
Honda introduces the all-new Motocompacto, an electric scooter that folds up into the shape of a regular suitcase, priced at $995 (R18,700).
Portia Derby, CEO of Transnet SOC Ltd., and Nonkululeko Dlamini, CFO of Transnet, have resigned from their positions amidst mounting criticism and pressure over the company’s deteriorating operational and financial performance.
South African fintech company Ukheshe has announced the integration of cryptocurrency payments into its Scan to Pay app. This move opens up new opportunities for financial transactions in South Africa.
The appointment of a new chief executive officer at Eskom Holdings SOC Ltd., the South African power utility, has been postponed due to a disagreement over the age of potential candidates. Public Enterprises Minister Pravin Gordhan has urged the board to consider candidates over the age of 60, which were initially excluded from the selection process.