Tags : africa

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South African News and Market Update: Tongaat Hulett reports total

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


Rwanda Tech to reduce the country’s import bill

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.

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