Business

Luanda, Angola | AFP | Angolan state-owned oil company Sonangol rode the commodities boom that drove the country’s extraordinary growth after civil war ended in 2002, but today it symbolises a national economic crisis. The Luanda-based company has increasingly been in focus since Isabel dos Santos, the billionaire daughter of …

Harare, Zimbabwe | AFP | Zimbabweans know the risks of worthless money all too well after hyperinflation between 2007 and 2009 gave them the 100-trillion-dollar banknote that barely bought a loaf of bread. Now they fear that the government is about to create another devastating crisis by printing its own …

Los Angeles, United States | AFP |  Electric carmaker Tesla has diversified into the alternative energy business, on Friday unveiling solar roofs for environmentally friendly homes. “Global warming is a serious crisis and we need to do something about that,” company founder Elon Musk said during a news conference at …

Less than three months since it launched formal operations, the Uganda National Oil Company has received Africa wide recognition after winning the best National Oil Company (NOC) presentation at a recent Oil and Gas forum held in South Africa. The event was organised by Standard Bank. The conference was held …

Diane founded Amooti.org, an online market place that provides easy access to African-inspired art, culture, fashion and other products over the Internet. The business gives gifted and inspired people a platform to share their talents and culture, while getting income for their work.  All they need to do is get …

VIDEO: South African Airways is set to boost the 6th wine festival in Uganda by exhibiting a wide variety of wine brands. At least 20 wineries from South Africa will exhibit. According to Yogi Biriggwa, South African Airways country director, there is so many wine brands in South Africa that Uganda is …

Lagos, Nigeria | AFP |  US oil and gas group ExxonMobil says it has discovered up to one billion barrels of oil in an offshore field in Nigeria, signalling a boost to the country’s crude reserves. The company said in a statement on its website on Thursday that the Owowo …

Following a series of speculative social media posts, Nakumatt Holdings has come out to say that “despite a number of unforeseen business challenges”, they are undertaking reforms and seeking financing that will stabilize their operations across East Africa. “We wish to reassure all our stakeholders that the business is solid despite …

Cairo, Egypt | AFP |  IMF chief Christine Lagarde said Thursday that Egypt is going through a currency “crisis,” suggesting a quick devaluation to tackle a widening gap between the official and black market rates. Egypt has been struggling to shore up its foreign currency reserves in the political and …

Washington, United States | AFP | White House hopeful Hillary Clinton said the proposed mega-merger of AT&T and Time Warner “raises questions and concerns” and merits further study. AT&T and Time Warner, home of CNN and HBO, have said the proposed $108.7 billion deal will benefit consumers as they gird …