How an ‘accidental businesswoman’ transformed one of Singapore’s oldest companies

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg" alt="" class="wp-image-519304" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller counts Kenya shilling notes inside the cashier&#8217;s booth at a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Sept 12 (Reuters) &#8211; The Kenyan shilling was flat on Thursday despite a slight pickup in foreign-currency demand, and traders said it was expected to remain in a tight range.



As of 0857 GMT, LSEG data showed the shilling at 128.50/129.50 to the dollar, the same as Wednesday&#8217;s closing level.



&#8220;We&#8217;re seeing some increased (dollar) demand from oils and corporates, but generally we&#8217;re stuck within a range. &#8230; It&#8217;s likely to stay that way for the next few days,&#8221; one trader said.



(Reporting by Hereward Holland; Editing by Alexander Winning)

LYEEWJTJKRPK3GJPCKWFP3EK7E

Kenyan shilling stable and seen staying that way, traders say

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-820x547.jpg" alt="" class="wp-image-422955" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/02/GettyImages-924883576-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Uganda shillings. Uganda. (Photo by: Godong/Universal Images Group via Getty Images)</figcaption></figure>



KAMPALA, Sept 12 (Reuters) &#8211; The Ugandan shilling was little-changed on Thursday, but was under a little pressure from an uptick in appetite for hard currency by firms in the manufacturing and energy sectors, traders said.



At 0840 GMT commercial banks quoted the shilling at 3,715/3,725, compared to Wednesday&#8217;s close of 3,713/3,723.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

GettyImages-924883576-1

Ugandan shilling little-changed, under pressure

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-1920634146-820x547.jpg" alt="" class="wp-image-529724" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-1920634146-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-1920634146-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-1920634146-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-1920634146-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-1920634146-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/GettyImages-1920634146-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Mary Vilakazi, incoming chief executive officer of FirstRand Ltd., at the bank&#8217;s headquarters in Johannesburg, South Africa, on Thursday, Jan. 11, 2023. FirstRand is looking to purchase other African banks in countries where it operates as the continent&#8217;s biggest lender by market value seeks to expand. Photographer Leon Sadiki/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Sept 12 (Reuters) &#8211; South African lender FirstRand posted a 4% rise in annual profit on Thursday despite absorbing a 3 billion rand ($167 million) pre-tax accounting provision related to an investigation by Britain into the vehicle finance market.



Its normalised earnings rose to 38 billion rand in the year ended June 30 from 36.6 billion the previous year, the bank said.



Excluding the provision, normalised earnings grew by 10%, group CEO Mary Vilakazi said in a statement.



British lenders have been told by the Financial Conduct Authority to ensure they are adequately prepared to meet the potential costs of customer complaints arising from its review into the motor finance industry.



The regulator began looking into potential overcharging in the industry in January, amid rising tensions between thousands of consumers and lenders over commission arrangements.



In addition to the provision, 300 million rand of legal and professional fees were incurred in relation to the UK probe, the bank said.



($1 = 17.9160 rand)



(Reporting by Nqobile Dludla; editing by Jason Neely and Emelia Sithole-Matarise)

Africa’s Biggest Bank Seeks Acquisitions to Power Expansion Says Incoming CEO Mary Vilakazi

South African lender FirstRand’s profit rises despite UK motor loans charge

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/108032514-1726060173981-gettyimages-2169789390-TARGET_FLAGSHIP-820x461.jpeg" alt="" class="wp-image-529707" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/108032514-1726060173981-gettyimages-2169789390-TARGET_FLAGSHIP-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/108032514-1726060173981-gettyimages-2169789390-TARGET_FLAGSHIP-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/108032514-1726060173981-gettyimages-2169789390-TARGET_FLAGSHIP-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/108032514-1726060173981-gettyimages-2169789390-TARGET_FLAGSHIP-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/108032514-1726060173981-gettyimages-2169789390-TARGET_FLAGSHIP-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/108032514-1726060173981-gettyimages-2169789390-TARGET_FLAGSHIP.jpeg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



Inflation in August declined to its lowest level since February 2021, according to a Labor Department report Wednesday that also showed a key measure higher than expected, setting the stage for an expected quarter percentage point rate cut from the Federal Reserve.



The consumer price index, a broad measure of goods and services costs across the U.S. economy, increased 0.2% for the month, in line with the Dow Jones consensus, the Bureau of Labor Statistics reported.



That put the 12-month inflation rate at 2.5%, down 0.4 percentage point from the July level, slightly below the estimate for 2.6% and at its lowest level in 3½ years.



However, the core CPI, which excludes volatile food and energy prices, increased 0.3% for the month, slightly higher than the 0.2% estimate. The 12-month core inflation rate held at 3.2%, in line with the forecast.



The slight uptick in core CPI keeps the Fed on defense against inflation, likely negating the probability of a more aggressive interest rate when policymakers meet next Tuesday and Wednesday.



“This isn’t the CPI report the market wanted to see. With core inflation coming in higher than expected, the Fed’s path to a 50 basis point cut has become more complicated,” said Seema Shah, chief global strategist at Principal Asset Management.



Stocks slumped following the report, while Treasury yields were mixed. However, the market rebounded later in the day, recouping its losses as the major averages all turned positive.



In the fed funds futures market, traders priced in an 85% chance that the Federal Open Market Committee will approve a quarter percentage point, or 25 basis point, interest rate reduction when its meeting concludes Sept. 18, according to the CME Group’s FedWatch measure. A month ago, markets were leaning towards a 50 basis point cut.



“The number is certainly not an obstacle to policy action next week, but the hawks on the committee will likely seize on today’s CPI report as evidence that the last mile of inflation needs to be handled with care and caution – a formidable reason to default to a 25 basis points reduction,” Shah added.



While the numbers showed that inflation slowly continued to moderate, housing-related costs remain an issue. The shelter component of the CPI, which has about a one-third weighting in the index, climbed 0.5%, accounting for about 70% of the core increase. The shelter index was up 5.2% year over year.



Food prices rose just 0.1%, while energy costs slid 0.8%.



Elsewhere in the report, used vehicle prices decreased 1%, medical care services declined 0.1% and apparel prices increased 0.3%. Egg prices rose 4.8%.



Real earnings also increased for the month, with average hourly earnings outpacing the monthly CPI increase by 0.2%, the BLS said in a separate release. On a 12-month basis, inflation-adjusted average hourly earnings rose 1.3%.



The Fed’s attention of late, however, has turned to a slowing labor market. Job creation since April has slowed to nearly half what it was in the prior five months. Central bankers are saying that preventing a broader slowdown is now about as important as the fight against inflation, which in the summer of 2022 hit its highest level in more than 40 years.



Regardless of what the Fed decides when its meeting concludes next Wednesday, markets already are pricing in lower rates. Treasury yields, particularly at the 2- and 10-year duration, are at their lowest levels in more than a year. A recession indicator known as an inverted yield curve has reversed recently, a move that often portends both rate cuts from the Fed as well as a slowdown in the economy.



Wednesday’s report offered more evidence that inflation is waning, though it remains above the Fed’s 2% goal. There are pockets where prices either stayed elevated or turned higher.



“Although inflation has eased, it does not mean that the prices of things that people buy have actually fallen,” said Lisa Sturtevant, chief economist at Bright MLS. “It just means that prices are not increasing as fast. In fact, U.S. consumers now are paying more than 20% more for goods and services than they were before the pandemic.”



Airline fares, for instance, increased 3.9% in August after falling the previous five months. Motor vehicle insurance also continued its trek higher, rising 0.6% to push the 12-month increase to 16.5%. Hospital and related services costs jumped 0.4% and are up 5.8% from last year.



At the same time, a pullback in energy costs has helped bring down inflation figures. Gasoline was off 0.6% in August and is down 10.3% from a year ago, part of a 4% slide in the energy index that has included a 12.1% tumble for fuel oil prices.

108032514-1726060173981-gettyimages-2169789390-TARGET_FLAGSHIP

U.S. consumer prices rose 0.2% in August as annual inflation rate hits lowest since early 2021

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="569" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LEAHYNTWGJP2ZOZCNL6X2EGVRA-820x569.jpg" alt="" class="wp-image-529690" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LEAHYNTWGJP2ZOZCNL6X2EGVRA-820x569.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LEAHYNTWGJP2ZOZCNL6X2EGVRA-300x208.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LEAHYNTWGJP2ZOZCNL6X2EGVRA-130x90.jpg 130w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LEAHYNTWGJP2ZOZCNL6X2EGVRA-768x533.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LEAHYNTWGJP2ZOZCNL6X2EGVRA-1536x1065.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LEAHYNTWGJP2ZOZCNL6X2EGVRA-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A woman arrives to harvest blueberries at Talana farm in rural Chegutu district, Zimbabwe, September 2, 2024. REUTERS/Philimon Bulawayo</figcaption></figure>



HARARE, Sept 12 (Reuters)&nbsp;&#8211;&nbsp;Zimbabwean farmers aim to capitalize on increasing global demand for blueberries, but self-funded growers like Willard Zireva cite a lack of finance and minimal government support as barriers.



Despite being one of the fastest growing blueberry producers globally, with production doubling to 7,000 metric tons last year due to a favourable climate, Zimbabwean farmers are struggling to secure financing for their operations.



Zimbabwe&#8217;s horticultural exports, driven in part by blueberries, exceed $100 million annually. The sector&#8217;s exports, which peaked at $140 million in 1999, were disrupted when former President Robert Mugabe began the seizure of white-owned farms to resettle landless Black citizens.



Despite the sector&#8217;s recent growth, banks remain wary of financing agriculture due to uncertain land tenure, making it challenging for Black farmers like Zireva to expand.



Blueberry farming in Zimbabwe is currently dominated by the few remaining local white farmers, many of whom are looking for foreign investment to expand operations.



Zimbabwe&#8217;s banks do not accept the 99-year leases handed by the government to resettled farmers as collateral for borrowing.



The banks also tend to be reluctant to lend to farmers because the state has in the past arbitrarily acquired farmland, including from some Black commercial farmers.



Zireva cultivates 12 hectares of blueberry crops at his Talana farm 100 km (62 miles) west of capital city Harare, which he bought freehold in the 1990s before the land seizures.



He said that he had to rely on personal savings to plant his first crop after a local bank denied him funding.



<h2 class="wp-block-heading" id="h-massive-growth-opportunity">&#8216;MASSIVE GROWTH OPPORTUNITY&#8217;</h2>



&#8220;If funding is available, there is a massive growth opportunity,&#8221; he told Reuters.



Growing a hectare of blueberries in Zimbabwe requires at least $100,000 to import plants, peat pots from Europe, and special shades for the crops.



Other costs include refrigerated packaging warehouses and water resources.



&#8220;We need interventions and interventions have to come from government. Nobody else,&#8221; said Zireva, referring to concessional funding for farmers.



The finance and agriculture ministries, as well as the Bankers Association of Zimbabwe (BAZ), did not immediately respond to requests for comment.



Zireva&#8217;s farm aims to export 120 metric tons of blueberries to the United Kingdom and East Asia this year, but he says the demand far exceeds their ability to supply.



His farm requires $1.2 million to double output, he added.



&#8220;We are hoping that we can get funding next year to put in eight hectares so that we get to 20 (hectares),&#8221; Zireva said.



Zimbabwe&#8217;s Horticultural Development Council (HDC) said the lack of long-term finance was a significant barrier to the sector&#8217;s plans to double blueberry hectarage to 1,500 hectares by 2030.



HDC CEO Linda Nielsen told Reuters that without funding &#8220;we will see growth in the blueberries sector coming off on the tonnage side. We really need to grow the hectarage and maintain our market share.&#8221;



(Reporting by Nyasha Chingono; Editing by Olivia Kumwenda-Mtambo, William Maclean)

A woman arrives to harvest blueberries at Talana farm in rural Chegutu district

Zimbabwe blueberry farmers chase booming demand but face funding woes

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg" alt="" class="wp-image-400641" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A collection of mixed denomination South African rand coins sit in an arranged photo in Johannesburg, South Africa, on Thursday, June 22, 2017. South Africas inflation rate rose for the first time this year in May after food-price growth quickened from the slowest pace since December 2015. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Sept 12 (Reuters)&nbsp;&#8211;&nbsp;The South African rand was little changed in early trade on Thursday ahead of the release of local mining output figures and an inflation expectations survey.



At 0600 GMT the rand traded at 17.8925 against the dollar, not far from its previous close of 17.9050.



The rand has mainly tracked global markets this week, including closely watched U.S. inflation data and its implications for next week&#8217;s Federal Reserve meeting, but that could change on Thursday.



South Africa&#8217;s Bureau for Economic Research will release its third-quarter inflation expectations survey around 0800 GMT, showing how analysts, business people and trade union officials expect inflation to develop over the next three years.



Inflation expectations are an important data point for the central bank when it takes interest rate decisions. Its next decision is due to be announced on Sept. 19, with economists widely predicting the first rate cut in more than four years.



Statistics South Africa will publish July mining production numbers at about 0930 GMT.



Analysts polled by Reuters predict output will return to year-on-year growth after a decline in June, reflecting volatile conditions in Africa&#8217;s most industrialised economy.



South Africa&#8217;s benchmark 2030 government bond was relatively flat, with the yield at 8.995%.



(Reporting by Alexander Winning; Editing by David Goodman)

South African Economy As Inflation Rate Rises For First Time In 2017

South African rand stable before mining data and inflation survey

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-820x547.jpg" alt="" class="wp-image-529685" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/TE3RFSDQENJTFFYC6SW6PIPCBE-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF/World Bank spring meetings in Washington, U.S., April 8, 2019. REUTERS/Yuri Gripas/File Photo</figcaption></figure>



KAMPALA, Sept 12 (Reuters) &#8211; The start of commercial crude oil production in Uganda is expected to propel economic growth into double digits in the next financial year, the International Monetary Fund (IMF) said.



Uganda&#8217;s economy would race to 10.8% growth in the 2025/2026 fiscal year which starts in July, up from a projection of 6.2% in the previous period, the IMF said in a report published late on Wednesday.



&#8220;Growth is expected to strengthen, boosted by the start of oil production, which will make (a) lasting improvement (to) the fiscal and current account balances,&#8221; the IMF said in the report.



After nearly 20 years of delay, the east African country is finally expected to commence production and export of crude oil next year from fields in its west.



Commercial reserves were discovered in 2006 but a range of factors including disputes with oil firms over development strategy and lack of requisite infrastructure had delayed production.



At peak Uganda is seen pumping 240,000 barrels of oil per day from its reserves, which are estimated at 6.5 billion barrels.



The IMF said Uganda&#8217;s foreign exchange (FX) reserves had continued to decline, and urged intervention by the central bank including a &#8220;reduction in government imports, along with stepped up FX purchases and greater exchange rate flexibility.&#8221;



The country&#8217;s FX reserves fell to $3.2 billion in June, down from $3.7 billion in December 2023, because of the high cost of servicing debt, the government&#8217;s inability to secure cheap credit, and limited hard currency purchases, the IMF said.



(Reporting by Elias Biryabarema; Editing by Hereward Holland and Lincoln Feast.)

FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF/World Bank spring meetings in Washington

Crude oil production to thrust Uganda’s economic growth into double digits – IMF

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



NAIROBI, Sept 12 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



Africa&#8217;s top public health body the Africa Centres for Disease Control and Prevention (Africa CDC) briefs reporters on mpox outbreaks on the continent.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto gains after U.S. core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve next week.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices rose during Asian trade on Thursday, spurred by concerns of Hurricane Francine impacting output in the U.S., the world&#8217;s biggest crude producer, though worries of lower demand capped gains.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



The South African rand held on to gains against the dollar on Wednesday after U.S. inflation data reinforced expectations that the Federal Reserve will opt for a smaller 25 basis point rate cut at its policy meeting next week.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



The Kenyan shilling was unchanged against the U.S. dollar on Wednesday, LSEG data showed, extending a recent period of stability that has lasted about a month.



<h2 class="wp-block-heading" id="h-united-nations-africa">UNITED NATIONS AFRICA</h2>



The United States supports creating two permanent United Nations Security Council seats for African states and one seat to be rotated among small island developing states, U.S. Ambassador to the U.N. Linda Thomas-Greenfield will announce on Thursday.



<h2 class="wp-block-heading" id="h-kenya-airport">KENYA AIRPORT</h2>



Workers at Kenya&#8217;s main international airport ended a day-long strike on Wednesday, a union official said, after they were assured by the government that a plan to lease the airport to an Indian company would only proceed with the union&#8217;s approval.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Sept 12

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Sept 12 (Reuters)&nbsp;&#8211;&nbsp;The following political and economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



July mining output figures



Q3 inflation expectations survey



<h2 class="wp-block-heading" id="h-political-events">POLITICAL EVENTS</h2>



President Ramaphosa answers questions in parliament



Democratic Alliance leader briefs reporters



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



FirstRand full-year results



Truworths full-year earnings



Sibanye Stillwater half-year results



Mr Price hosts capital markets day



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



The South African rand held onto gains against the dollar on Wednesday after U.S. inflation data reinforced expectations that the Federal Reserve will opt for a smaller 25 basis point rate cut at its policy meeting next week.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar was firm after U.S. core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve next week.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



All three major U.S. stock indexes closed higher on Wednesday with a boost from the technology sector offsetting investor disappointment at an inflation report.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold prices edged higher on Thursday, with traders focusing on upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve&#8217;s interest rate next week.&nbsp;GOL/



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; Job cuts send SA platinum supply back to pre-COVID levels



&#8211; Tax hit deters some two-pot withdrawals



(Compiled by Alexander Winning)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Sept 12

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="548" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/7BCG6QNXMJLJZG2Q5Z4UAZGMHE-820x548.jpg" alt="" class="wp-image-529650" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/7BCG6QNXMJLJZG2Q5Z4UAZGMHE-820x548.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/7BCG6QNXMJLJZG2Q5Z4UAZGMHE-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/7BCG6QNXMJLJZG2Q5Z4UAZGMHE-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/7BCG6QNXMJLJZG2Q5Z4UAZGMHE-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/7BCG6QNXMJLJZG2Q5Z4UAZGMHE-1536x1026.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/7BCG6QNXMJLJZG2Q5Z4UAZGMHE-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: U.S. Ambassador to the United Nations Linda Thomas-Greenfield attends a United Nations Security Council meeting about the Israel-Hamas conflict in Gaza, at the U.N. headquarters in New York City, U.S., September 4, 2024. REUTERS/David &#8216;Dee&#8217; Delgado/File Photo</figcaption></figure>



UNITED NATIONS, Sept 12 (Reuters)&nbsp;&#8211;&nbsp;The United States supports creating two permanent United Nations Security Council seats for African states and one seat to be rotated among small island developing states, U.S. Ambassador to the U.N. Linda Thomas-Greenfield will announce on Thursday.



The move comes as the U.S. seeks to repair ties with Africa, where many are unhappy about Washington&#8217;s support for Israel&#8217;s war in Gaza, and deepen relations with Pacific Islands nations important to countering Chinese influence in the region.



Thomas-Greenfield told Reuters she hopes the announcement will &#8220;move this agenda forward in a way that we can achieve Security Council reform at some point in the future,&#8221; describing it as part of U.S. President Joe Biden&#8217;s legacy.



The push for two permanent African seats and a rotating seat for small island developing states is in addition to Washington&#8217;s long-held support for India, Japan and Germany to also get permanent seats on the council.



Developing nations have long demanded permanent seats on the Security Council, the most powerful body in the United Nations. But years of talks on reform have proved fruitless and it is unclear whether U.S. support could fuel action.



Ahead of making the announcement at the Council on Foreign Relations in New York on Thursday, Thomas-Greenfield clarified to Reuters that Washington does not support expanding veto power beyond the five countries that hold it.



The Security Council is charged with maintaining international peace and security and has the power to impose sanctions and arms embargos and authorize the use of force.



When the U.N. was founded in 1945, the Security Council had 11 members. This increased in 1965 to 15 members, made up of 10 elected states serving two-year terms and five permanent veto-wielding nations: Russia, China, France, the U.S. and Britain.



<h2 class="wp-block-heading" id="h-legitimacy-problem">LEGITIMACY PROBLEM</h2>



U.N. Secretary-General Antonio Guterres backs Security Council reform.



&#8220;You have a Security Council that corresponds exactly to the situation after the Second World War &#8230; that has a problem of legitimacy, and that has a problem of effectiveness, and it needs to be reformed,&#8221; Guterres told Reuters on Wednesday.



Any changes to the Security Council membership is done by amending the founding U.N. Charter. This needs the approval and ratification by two-thirds of the General Assembly, including the Security Council&#8217;s current five veto powers.



The 193-member U.N. General Assembly has annually discussed reform of the Security Council for more than a decade. But momentum has grown in recent years as geopolitical rivalries have deadlocked the council on several issues, particularly after permanent veto-wielding member Russia invaded Ukraine.



&#8220;Much of the conversation around Security Council reform has been just that: a conversation,&#8221; Thomas-Greenfield will say on Thursday, according to prepared remarks reviewed by Reuters of her announcement that Washington supports moving to negotiations on a draft text to amend the U.N. Charter to expand the council.



Thomas-Greenfield told Reuters she could not say how long it might take to get the General Assembly to vote on such a resolution.



Each year the General Assembly elects five new members from different geographical groups for two-year terms on the Security Council. Africa currently has three seats rotated among states.



&#8220;The problem is, these non-permanent seats don&#8217;t enable African countries to deliver the full benefit of their knowledge and voices to the work of the council &#8230; to consistently lead on the challenges that affect all of us &#8211; and disproportionately affect Africans,&#8221; Thomas-Greenfield will say.



She will also say that small island developing states deserve a rotating elected seat because they offer &#8220;critical insights on a range of international peace and security issues: including, notably, the impact of climate change.&#8221;



(Reporting by Michelle Nichols; Editing by Don Durfee and Tom Hogue)

FILE PHOTO: UN Security Council meeting in New York

US supports two permanent UN Security Council seats for Africa

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="518" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/IMG_20240816_113709-820x518.jpg" alt="" class="wp-image-529432" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/IMG_20240816_113709-820x518.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/IMG_20240816_113709-300x189.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/IMG_20240816_113709-143x90.jpg 143w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/IMG_20240816_113709-768x485.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/IMG_20240816_113709-1536x969.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/IMG_20240816_113709-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



Think of a family business – the image that probably comes to mind is the ‘mom and pop’ corner store with kids carrying stock and doing counter duty. The reality, however, is different. The African multigenerational business of today is likely to employ hundreds of people, and ultimately may find itself moving towards being listed on one of the stock exchanges.



Multigenerational, family-owned businesses are estimated to contribute between 20% and 30% of South Africa’s gross domestic product (GDP). In fact, 60% of JSE-listed entities were either founded by or are still managed by families. Perhaps most notably, family businesses comprise about 70% of all South African companies and employ approximately 60% of the workforce.



These impressive statistics and success stories are not just about entrepreneurs who have identified opportunities but also about their strategic vision, hard work and the transformation of fledgling enterprises into powerhouses. Family-owned businesses, which span all market sectors, including agriculture, agri-processing, manufacturing and logistics, also share other characteristics that contribute to their success.



They tend to grow market share by investing locally at first and have consistently grown above inflation and the national average GDP growth rate. Their focus most often is on building sustainable businesses that are the mainstay of a family legacy. These entities demonstrated impressive resilience during COVID and have managed sustained growth over a long period of relative weakness in the overall SA economy. Because we at Standard Bank Commercial and Business Banking (BCB) must meet the needs of hundreds of these businesses, we are conscious that multigenerational businesses, despite their success, also face various challenges. For example:



<ul class="wp-block-list">
<li>They hold different views regarding capital allocation. Some family members may want capital preserved, while others may favour investment and fast growth.</li>



<li>They often must meet growth demands by adapting and ‘corporatising’ business structures to respond to market conditions and stay current.</li>



<li>They must recognise a need for adapting employment practices and acquiring specialised skills. Regarding the latter, if the business is to remain sustainable, the skills required may need to be reviewed in the light of changed operational circumstances.</li>



<li>Succession planning is a critical issue that needs to be addressed as a business grows and matures. </li>



<li>There may be issues around how to allocate equity within the business and how ‘external’ parties are integrated into the family arrangement.</li>



<li>With the advent of new trading conditions and treaties across Africa, creating partnerships that can maximise local growth and facilitate cross-border trade and operations in neighbouring countries or even further abroad is a key competitive differentiator.</li>
</ul>



The common denominator for all multigenerational businesses is that success and growth means increased complexity. As complexity increases, meticulous planning, access to finance and strategic support tend to play pivotal roles.



Take for instance one of our longstanding clients, the Radley family, who have owned and managed Radley Landgoed, a solar farm located near the farming town of Malelane, Mpumalanga, for nearly 80 years. Over the decades, this multigenerational business has not only maintained its agricultural heritage but has also embraced innovation to secure its future. Recently, they took a significant leap forward by pioneering renewable energy solutions with our support, leading to the development of Mpumalanga’s first water-borne solar plant. This groundbreaking project underscores our role as a trusted partner for growth, dedicated to fostering sustainable solutions that empower businesses, enhance financial inclusivity, and address critical challenges like energy supply. By supporting such initiatives, we help ensure the longevity and success of family-owned enterprises, enabling them to thrive across generations while contributing positively to the broader economy.



We also advise multigenerational companies about various issues in this vital economic sector that have the potential to impact their success. These include:



<ul class="wp-block-list">
<li>Helping businesses respond to requests about how to successfully expand across borders and diversify operations to meet new markets. Demand for assistance with international introductions and seamless integration of banking services has risen by about 30% over the past year.</li>



<li>Recognising that although an ‘owner-managed’ culture is influential, owners often need assistance when it comes to adapting to changed environments and changing business direction.</li>



<li>Changing business focus from being niche bound to expanding across value chains, identifying opportunities, and knowing when and how to take advantage of them.</li>



<li>Conducting wealth and estate planning to ensure unified leadership and the transfer of ownership and assets across generations.</li>



<li>Making good equity and leverage decisions, which often becomes important as businesses grow. For instance, such decisions may revolve around the need of a family-owned business to enter an empowerment deal or undertake an acquisition.</li>
</ul>



At the heart of most discussions in this regard is the issue of professionalising the family business so that the structure assists with the innovation required to allow the company to grow. Issues involved may range from appointing non-family members to the board to implementing governance structures and using technology to improve productivity and control costs.



Given BCB’s extensive business footprint within South Africa and its access to 15 markets on the continent, as well as offshore operations in New Jersey and the Isle of Man, Standard Bank has the networks, insights and experience to enable business owners to identify suitable partners and other trade markets.



Africa is open for business, and many of South Africa’s leading multigenerational companies are positioning themselves for the local and international opportunities that will arise.



Navigating the complexities required for growth is critical for ensuring the sustainability and success of family-owned enterprises. Through its collaborative approach, Standard Bank’s BCB division is poised to help preserve the legacies and values of multigenerational businesses while helping to position them to adapt and thrive in a constantly changing marketplace.

IMG_20240816_113709

Fostering the growth of multigenerational family businesses is helping build the stock market leaders of tomorrow

Why All Eyes Are On Arkansas’ Lithium

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NFMNXYOFQBOCDPJ4CHX7OU26YQ-820x547.jpg" alt="" class="wp-image-529427" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NFMNXYOFQBOCDPJ4CHX7OU26YQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NFMNXYOFQBOCDPJ4CHX7OU26YQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NFMNXYOFQBOCDPJ4CHX7OU26YQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NFMNXYOFQBOCDPJ4CHX7OU26YQ-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/NFMNXYOFQBOCDPJ4CHX7OU26YQ.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Uganda&#8217;s Minister of Finance Matia Kasaija displays a briefcase carrying National Budget 2024/25 before presenting it to the nation during a budget speech at Kololo airstrip in Kampala, Uganda, June 13, 2024. REUTERS/Michael Muhati/File Photo</figcaption></figure>



KAMPALA, Sept 11 (Reuters)&nbsp;&#8211;&nbsp;Uganda plans to issue new oil and gas exploration licences in the 2025/2026 (July-June) fiscal year to help boost investments in the sector and overall economic growth, the finance minister said on Wednesday.



The east African country&#8217;s last licensing round, launched in 2019 concluded early last year. It handed out the last two of five blocks on offer.



&#8220;Accelerating investments in oil and gas will be instrumental in contributing to faster growth of Uganda next financial year,&#8221; Matia Kasaija said in a speech laying out priorities for the country in the 2025/2026 financial year.



To achieve higher investments in the petroleum sector and overall growth, the government would issue additional exploration licences to increase production volumes, he said.



Uganda plans to start commercial production of oil next year from existing fields in the Albertine Graben basin in the country&#8217;s west.



The government says only about 40% of the Graben has been explored so far, where an estimated 6.5 billion barrels of oil have been found.



France&#8217;s TotalEnergies, with 56.7% equity is majority owner of the fields and its other partners include China&#8217;s CNOOC 0883.HK and state-run Uganda National Oil Company UNOC.



Kasaija also said Uganda&#8217;s debt load remained &#8220;sustainable,&#8221; despite credit downgrades by ratings agencies. He said the country was committed maintaining its debt to GDP ratio below 50%.



In late August, Fitch cut Uganda&#8217;s rating to B from B+, citing its &#8220;reduced access to concessional financing, high domestic borrowing costs and a decline in foreign-exchange reserves.&#8221;



Fitch&#8217;s move followed Moody&#8217;s that also downgraded Uganda&#8217;s rating to B3 from B2 in May, citing Uganda&#8217;s &#8220;diminished debt affordability.&#8221;



(Reporting by Elias Biryabarema; Editing by George Obulutsa; Editing by Ros Russell)

NFMNXYOFQBOCDPJ4CHX7OU26YQ

Uganda say it will offer new oil exploration licences next fiscal year

How are German car brands holding up?

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-820x429.jpg" alt="" class="wp-image-506011" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/HCVRNAVJRJMOJBUK4XOB7PEJGY.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller serves a client with Kenya shilling notes at the cashier&#8217;s booth of a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Sept 11 (Reuters) &#8211; The Kenyan shilling was unchanged against the U.S. dollar on Wednesday, LSEG data showed, extending a recent period of stability that has lasted about a month.



At 1040 GMT the shilling was quoted at 128.50/129.50 to the dollar, the same as Tuesday&#8217;s closing level.



The currency rallied strongly in the first half of 2024 as concerns eased that the East African country would default on a $2 billion Eurobond that matured in June, but it lost momentum from April onwards.



(Reporting by Hereward Holland; Editing by Alexander Winning)

HCVRNAVJRJMOJBUK4XOB7PEJGY

Kenyan shilling unchanged against dollar, LSEG data shows

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_C2C5FTZETVK4ZMT6Y2MI4UTUYM-820x547.jpg" alt="" class="wp-image-529377" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_C2C5FTZETVK4ZMT6Y2MI4UTUYM-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_C2C5FTZETVK4ZMT6Y2MI4UTUYM-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_C2C5FTZETVK4ZMT6Y2MI4UTUYM-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_C2C5FTZETVK4ZMT6Y2MI4UTUYM-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_C2C5FTZETVK4ZMT6Y2MI4UTUYM.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">David Eshun 45, co-owner of Bethel Brothers bakery, prepares to deliver baked bread from the Bethel Brothers bakery to customers in Accra, Ghana, March 8, 2022. Francis Kokoroko</figcaption></figure>



ACCRA, Sept 11 (Reuters) &#8211; Ghana&#8217;s consumer inflation slowed for a fifth consecutive month in August, to 20.4% year on year from 20.9% in July, the statistics service said on Wednesday.



Government statistician Samuel Kobina Annim told a news conference that the latest decline was partly due to a decline in food prices.



Although inflation has been easing, it remains well above the central bank&#8217;s medium term target of 8% with a margin of error of 2 percentage points either side.



Finance minister Mohammed Amin Adam said in July the West African nation&#8217;s inflation is expected slow to 15% by the end of 2024, adding that its economy was rebounding faster than expected.



The cocoa-, gold- and oil-producing West African country is battling to emerge from its worst economic crisis in a generation.



It invited holders of roughly $13 billion of its international bonds to swap their holdings for new instruments in an offer ending Sept. 30.



(Reporting by Maxwell Akalaare Adombila and Christian Akorlie; Writing by Anait Miridzhanian;Editing by Bate Felix)

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How an ‘accidental businesswoman’ transformed one of Singapore’s oldest companies

Kenyan shilling stable and seen staying that way, traders say

Ugandan shilling little-changed, under pressure

South African lender FirstRand’s profit rises despite UK motor loans charge

U.S. consumer prices rose 0.2% in August as annual inflation rate hits lowest since early 2021

Zimbabwe blueberry farmers chase booming demand but face funding woes

South African rand stable before mining data and inflation survey

Crude oil production to thrust Uganda’s economic growth into double digits – IMF

African Markets – Factors to watch on Sept 12

South African Markets – Factors to watch on Sept 12

US supports two permanent UN Security Council seats for Africa

Fostering the growth of multigenerational family businesses is helping build the stock market leaders of tomorrow

Why All Eyes Are On Arkansas’ Lithium

Uganda say it will offer new oil exploration licences next fiscal year

How are German car brands holding up?

Kenyan shilling unchanged against dollar, LSEG data shows

Ghana consumer inflation slows for fifth month in August

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home

How an ‘accidental businesswoman’ transformed one of Singapore’s oldest companies

Kenyan shilling stable and seen staying that way, traders say

Ugandan shilling little-changed, under pressure

South African lender FirstRand’s profit rises despite UK motor loans charge

U.S. consumer prices rose 0.2% in August as annual inflation rate hits lowest since early 2021

Zimbabwe blueberry farmers chase booming demand but face funding woes

South African rand stable before mining data and inflation survey

Crude oil production to thrust Uganda’s economic growth into double digits – IMF

African Markets – Factors to watch on Sept 12

South African Markets – Factors to watch on Sept 12

US supports two permanent UN Security Council seats for Africa

Fostering the growth of multigenerational family businesses is helping build the stock market leaders of tomorrow

Why All Eyes Are On Arkansas’ Lithium

Uganda say it will offer new oil exploration licences next fiscal year

How are German car brands holding up?

Kenyan shilling unchanged against dollar, LSEG data shows

Ghana consumer inflation slows for fifth month in August

News Tips

Advertise With Us

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