BUSINESS - The African Mirror

Mar

25

2025

Harnessing AfCFTA’s Potential: Strengthening Africa’s Value Chains Amid Global Crises

BUSINESS

IT has been four years since the start of trading under the African Continental Free Trade Area (AfCFTA), and the commentaries heralding its potential for transforming the continent’s economic prospects and delivering on its developmental goals are legion. But at a global scale, those same four years have also witnessed a battery of crises unfolding throughout the world that have left no region unscathed, including Africa—and are showing no signs of slowing down. Already, the changing weather patterns and natural disasters that are the hallmarks of our climate crisis have led to significant GDP losses within Africa, with the World…

Mar

24

2025

By The African Mirror

Forging New Paths: South Africa’s Bold Vision for Public-Private Partnerships in Rail and Port Infrastructure

BUSINESS

IN a groundbreaking move set to transform South Africa's logistics landscape, state-owned Transnet is embarking on an ambitious journey to revitalize the country's freight rail network and port systems through strategic private-sector partnerships. Transport Minister Barbara Creecy announced this pivotal initiative on Sunday, marking what many industry experts consider a watershed moment for South Africa's economic infrastructure. "The Roadmap for The Freight Logistics System in South Africa clarifies that strategic infrastructure such as rail lines and ports will remain in public ownership, as assets belonging to South African people," Minister Creecy emphasised during her address. "At the same time, it…

Mar

24

2025

By GIOVANNI OCCHIALI

Wealthy Africans often don’t pay tax: the answer lies in smarter collection – expert

BUSINESS

FACED with some of the worst debt levels in over a decade, African countries are struggling to find ways to balance their books. Increasing revenue sources from their citizens is an obvious place to look. A good starting point for African countries would be to focus on the tax contribution of wealthy citizens. This is because the most underperforming taxes across the African continent are those bearing on the income of wealthy individuals, namely personal income and property taxes. The reasons for this are twofold: People who are better off in some countries often remain invisible to tax authorities. This…

Mar

20

2025

By ARTHUR KHOMOTSO MAHUMA and NAMHLA LANDANI

High soybean prices in Zambia and Malawi may make chicken costly too: lack of competition is to blame

BUSINESS

POULTRY is one of the cheapest protein sources for the growing population of the East and Southern Africa region. That makes soybeans critical to food security in the region, as they are an important input in chicken feed. Soybean pricing and production dynamics have been challenging for Zambia and Malawi, threatening poultry production in the region. Poultry feed makes up 60%-70% of the total cost of poultry production. Soybean prices directly affect the affordability of poultry and the ability of producers to be competitive. Small-scale independent poultry producers in particular have a hard time because they buy feed from the…

Mar

19

2025

By The African Mirror

President Ruto pledges digital future for Kenya: “Every village will have a digital hub”

BUSINESS

PRESIDENT William Ruto has declared that Kenya's future is digital, pledging to establish digital hubs in every village across the country. These hubs, he says, will create thousands of jobs during the digital revolution that will be rolled out nationwide. "The government will spare no effort in creating job opportunities for young people," President Ruto stated, emphasizing that a long-term solution to unemployment in Kenya lies in equipping youth with technology skills to meet current job market demands. The President explained that going digital will be a game-changer in transforming the economy, creating much-needed jobs, and driving financial and economic…

Mar

19

2025

By The African Mirror

AfCFTA: Unlocking Africa’s trillion-dollar trade potential

BUSINESS

IN a pivotal meeting on the sidelines of the 57th Economic Commission for Africa (ECA) Session in Addis Ababa, African business leaders and policymakers confronted a stark reality: the continent's landmark free trade agreement remains largely untapped, with its trillion-dollar potential still waiting to be unleashed. "It's time to turn AfCFTA from paper into action," declared Teddy Soobramanien, CEO of the COMESA Business Council, cutting through the diplomatic niceties that have characterized years of policy discussions. His call to action resonated through a room filled with stakeholders who recognize that Africa stands at a critical crossroads. The African Continental Free…

Mar

18

2025

By The African Mirror

Japanese automaker Isuzu eyes expansion across Africa with South African base

BUSINESS

SOUTH African Deputy President Shipokosa Paulus Mashatile has called on Japanese automaker Isuzu Motors to leverage its strong presence in South Africa to expand manufacturing operations across the African continent, citing the African Continental Free Trade Area (AfCFTA) as a major opportunity for growth. Speaking during a high-profile visit to Isuzu's Fujisawa Plant in Tokyo, Mashatile emphasised that Isuzu's fully-owned South African manufacturing facility positions the company uniquely to access markets across all 54 African nations that have signed the AfCFTA agreement. "With the Africa Continental Free Trade Area, we have opened even more opportunities for Isuzu to export and…

Mar

15

2025

By SETH ONYANGO, BIRD STORY AGENCY

Creeping stability spurs Libya’s post-Gaddafi era portfolio shakeup across Africa

BUSINESS

LIBYA is using its vast sovereign wealth fund to revitalise its decades-old investments across Africa as fragile political stability holds in the North African state. Years of political strife had stymied the ability of the Libyan Investment Authority's $67 billion sovereign wealth fund to extract value from its extensive portfolio. But recently, the Libyan African Investment Company (Laico), a subsidiary of the authority, has been modernising its portfolio and pruning underperforming assets. Laico has now begun coaxing global partners to breathe life into a strategy that once bankrolled hotels, oil networks, and telecoms across the continent. Its revamped website states…

Mar

13

2025

By JACQUELINE BOREL-SALADIN and NAZEEM MUSTAPHA

South Africa’s state-owned entities are flagging – how innovation, research and development could revive them

BUSINESS

SOUTH Africa has about 700 state-owned enterprises. They operate across sectors like transport, energy and public utilities, and some are among the largest employers in those sectors. Entities like these are created and controlled by a country’s government to provide essential services and drive economic development. In South Africa, they were formed in the 20th century, when the government recognised the need to support local industries by providing services such as rail transport, financing and electricity. As the country industrialised, more state-owned entities were established to serve businesses and communities and to create jobs. In the early 21st century they…

Mar

07

2025

By TAIWO HASSAN ODUGBEMI

Nigeria reduces inflation rate, but the cost of living remains high – here’s why

BUSINESS

NIGERIA recently rebased its consumer price index (CPI) from 2009 to 2024, leading to a significant drop in the reported inflation rate from 34.80% to 24.48%. This change has sparked discussions on the likely impact on economic planning, policy decisions, and public perception of inflation. Taiwo Odugbemi, an economist, unpacks what it means for a country to rebase its inflation rate and its implications for citizens. What is inflation rate rebasing and how is it done? Inflation rate rebasing follows a structured approach led by the National Bureau of Statistics to improve the accuracy of inflation measurements. Essentially what it…