JSE-listed sugar producer and land developer Tongaat Hulett on Monday reported a total loss of up to R266 million in a trading statement for the six months to September 30, 2021. The Durban-based group, which is due to release its latest interim results on Thursday (Dec. 9) highlighted hyperinflation in Zimbabwe, as well as unrest in KwaZulu-Natalin July and Covid-19 pressure, as the main reasons for the expected loss. For its 2020 half-year, Tongaat Hulett an adjusted profit of R241 million, and the turnaround appeared to remain on track despite the Covid-19 pandemic. Tongaat Hulett noted in its trading statement that for the latest
Tags : africa
African Export-Import Bank (Afreximbank) and the Government of Barbados have signed a Memorandum of Understanding (MoU) to expand trade and investment links between Africa and the Caribbean island state. Read more.
Two young entrepreneurs and also the founders of Kwaanda lab, a company they started with just Rwf 5000 in 2018 with the goal to create wireless electricity for all technology and electrical devices, after they had noticed how Rwandans experience issues relating to short circuits and electrical shocks when charging electric devices. Read more.
Mining giant, ZCCM Investments Holdings (IH) has signed Group Restructuring and Reorganization Agreement with the Industrial Development Corporation Limited (IDC) that will see the former transferring its shares in Investrust Bank Plc and Mushe Milling Limited, it has been announced.
Participants in the meeting, hosted by the African Development Bank, brainstormed on joint actions that could help boost a strong and inclusive recovery in Africa.
Mauritius, being strategically located between Asia and Africa, prides itself as having one of the continent’s most stable regulatory environment, Centurian Law Group has said. Read more.
IFAD said it aimed to provide an additional US$1.5 billion to Africa to support national efforts to transform food and agricultural systems over the next three years. Read more.
Solar and wind energy are now the cheapest sources of new power generation in Africa and countries like Morocco and Kenya have made impressive progress, Anton Eberhard, from Power Futures Lab at the University of Cape Town has said. Read more.