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Tag Archives: economy

Dos Santos daughter cleared to head Angola oil giant

Luanda, Angola | AFP |  Angolan President Jose Eduardo dos Santos’s daughter, reportedly Africa’s richest woman, has been cleared to head the national oil company Sonangol, after a court rejected a legal challenge. Isabel dos Santos was put in charge of Sonangol in June in a move some analysts said …

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Nigeria’s leader wants spending spree to boost economy

Abuja, Nigeria | AFP | Nigeria’s President Muhammadu Buhari proposed Wednesday a multi-billion dollar jump in spending designed to lift the nation out of the “most challenging economic situation” in its history. He pitched his NGN 7.3 trillion budget ($23 billion) proposal for 2017 — a 20 percent boost over …

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Supermarket Shoprite to merge with Steinhoff

South Africa’s Steinhoff and Shoprite to form retail giant Johannesburg, South Africa | AFP |  South African retail giants Steinhoff International and supermarket group Shoprite Holding Wednesday said they were in talks to merge their African operations to form a single company worth over $14 billion. The companies said in …

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Songhai Model excites Ugandan parliamentarians

Members of Parliament (MPs) have shown eagerness to adopt the Songhai Model in Uganda’s programmes aimed at fighting unemployment, enhancing labour productivity and food security. “It is very important Members of Parliament experience the Songhai Model. I am saying that because I am a fan of the Songhai model,” Uganda Parliament …

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Nude selfies used as collateral for Chinese loans

Beijing, China | AFP |  Hundreds of photos and videos of naked women used as collateral for loans on a Chinese online lending service have leaked onto the web, highlighting regulatory problems in the fast-growing peer-to-peer marketplace. A 10-gigabyte file posted on the internet exposed the personal details of more …

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The Trump administration turning into club for the wealthy

Washington, United States | AFP |  The US administration-in-waiting nominated by President-elect Donald Trump is a circle of multimillionaire businessmen and women the public may view as a cabinet whose wealth is unprecedented in US history. Himself a billionaire real estate developer, Trump could entrench this characteristic should he choose …

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