BUSINESS - The African Mirror

Feb

13

2026

SA’s PIC wins court order against director over defamation claims

BUSINESS

THE Public Investment Corporation has secured an interim interdict preventing a director of a PIC-funded company from making allegations of corruption against its officials, following a R725 million loan dispute. The Johannesburg High Court has granted an order restraining Ralebala Matome Mampeule, a director of Levoca 805, from publishing defamatory statements suggesting PIC officials are involved in corruption, bribery and extortion. The court ruled no evidence exists to support Mampeule's allegations, which targeted PIC officials, including Lindiwe Dlamini, the corporation's head of legal. The Transaction The PIC approved a R725 million loan facility to Levoca in February 2024 to acquire…

Feb

12

2026

By The African Mirror

SA Transnet’s remarkable turnaround: Mining sector feels the benefits of renewed focus and collaboration

BUSINESS

In a striking reversal of fortune, Transnet is experiencing a transformation that's breathing new life into South Africa's mining sector and broader economy. Group Chief Executive Michelle Phillips, speaking at the Mining Indaba, painted a picture of an organisation that has fundamentally reimagined its relationship with customers, employees, and the private sector. "We've had to really go back to customers, rebuild the relationships," Phillips explained, reflecting on the stark contrast between Transnet's current standing and its position just a few years ago. The shift has been palpable. "The reception is a lot more positive. I have people saying to me,…

Feb

12

2026

By ABEL GWAINDEPI

Taxing Africa’s informal economies: technology’s promise and pitfalls

BUSINESS

CHANGES in the development finance world – especially the sharp drop in foreign aid and fewer cheap loans for low-income countries – have pushed taxation back into the spotlight. Africa has entered a new “tax era of development”. As external funding dries up, many African countries are now relying more on their own ability to raise money through taxes. But large parts of African economies are informal, and that’s widely seen as an obstacle to collecting tax revenue. My recent work, too, shows that countries with high levels of informality tend to collect less tax revenue and face other related…

Feb

12

2026

By CONRAD ONYANGO, BIRD STORY AGENCY

African women are leaning in at investment firms

BUSINESS

SMALL, Africa-based private capital firms are placing more women in senior decision-making roles than larger, foreign ones, a new report shows. The Gender Diversity in African Private Capital 2026 report by the African Private Capital Association (AVCA) found that in firms with five employees or fewer, women make up 50% of investment team members and 44% of investment committee (IC) seats, above industry averages of 39% and 33%, respectively. A major advantage small firms have over their larger peers is flexible hiring practices and diversity friendly environment, seen as key to building a robust leadership pipeline that strengthens the prospects…

Feb

10

2026

By The African Mirror

Namibia launches practical trade guide to unlock African market access for businesses

BUSINESS

NAMIBIA is racing to translate Africa's ambitious free trade agreement into tangible opportunities for local businesses, unveiling a step-by-step trading guide designed to help companies navigate the complexities of doing business across the continent. The country's Ministry of International Relations and Trade, together with the UN Economic Commission for Africa and the Namibia Chamber of Commerce and Industry, convened a two-day validation workshop this week to finalise the practical guide for trading under the African Continental Free Trade Area (AfCFTA). Titus Nampala, CEO of the Namibia Chamber of Commerce and Industry. The initiative addresses a critical gap: while Namibia has…

Feb

10

2026

By OWN CORRESPONDENT

From ruins to revenue: How South Africa’s tax authority rose from the ashes of state capture

BUSINESS

IN the gleaming National Command Centre in Tshwane, South African President Cyril Ramaphosa stood before the staff of the South African Revenue Service (SARS) with a message that resonated far beyond the walls of the tax authority: institutional collapse is not irreversible. The numbers tell an extraordinary story. SARS collected R2.3 trillion in the last financial year - the highest revenue collection in the organisation's history. But behind these figures lies a more powerful narrative of institutional resurrection that offers a blueprint for rebuilding trust in a post-crisis era. To understand the magnitude of this turnaround, one must first grasp…

Feb

09

2026

By BONFACE ORUCHO, BIRD STORY AGENCY

Angola is becoming a magnet for independent oil investors

BUSINESS

ANGOLA is consistently recasting itself as the place global energy investors, especially in oil and gas, turn to for long-term, lower-risk bets. That momentum was reinforced this week when TotalEnergies brought its Begonia and Clov Phase 3 offshore developments into production. Together, the two projects are adding roughly 60,000 barrels per day to Angola’s output. Begonia, a first-of-its-kind inter-block subsea tie-back, links five wells to the PAZFLOR FPSO about 150 kilometres offshore, while Clov Phase 3 ties four wells to the CLOV FPSO. TotalEnergies has highlighted that these tie-backs provide low-emission, cost-efficient barrels, supporting Angola’s energy security while demonstrating that…

Feb

09

2026

By PAUL PHUME

It’s time to show some respect to the spaza industry in South Africa

BUSINESS

IN mid-2025, the CEO of Capitec Bank, Gerrie Fourie, sparked debate about unemployment in South Africa. He argued that the actual unemployment rate in South Africa may be significantly lower than the official figure reported by Stats SA, potentially around 10% instead of the reported 32.9%. He argues that the current methodology used by Stats SA does not adequately capture the economic activity within the informal sector. The discussion about the rate of unemployment and the informal sector will always be both controversial and intriguing. Some of the controversy stems from the fact that the story of the informal market…

Feb

07

2026

By OWN CORRESPONDENT

Nigeria targets $12 billion economic boost through new halal market strategy

BUSINESS

NIGERIA has officially entered the race for a share of the $7.7 trillion global halal economy, with the federal government launching a comprehensive national strategy projected to unlock over $12 billion in economic value by 2030. Vice President Kashim Shettima has unveiled the Nigeria National Halal Economy Strategy at the Presidential Villa, marking a significant shift in Africa's second-largest economy's approach to export diversification and industrial growth. The strategy aims to add an estimated $1.5 billion to Nigeria's GDP by 2027, with ambitious targets including expanded halal-compliant food exports, development of pharmaceutical and cosmetic value chains, positioning the country as…

Feb

05

2026

By STAFF REPORTER

South Africa joins Afreximbank with US$8bn programme to power industrial growth

BUSINESS

SOUTH Africa has officially joined the African Export-Import Bank (Afreximbank) as its 54th member state, unlocking an initial US$8 billion Country Programme aimed at transforming the continent's most industrialised economy and deepening intra-African trade integration. President Cyril Ramaphosa signed the Instrument of Accession at a ceremony in Johannesburg on Wednesday, describing the partnership as "a major milestone in our quest to realise the economic integration of our continent." "Today's signing signals a deliberate, ambitious and more impactful phase in South Africa's economic engagement with Africa and the world," Ramaphosa said at the Westcliff Hotel ceremony attended by Trade, Industry and…