Browsing: North America

• Major African airlines have been hard hit since the Covid-19 pandemic struck.

• This year is however expected to bring good tidings for the industry, albeit low profit margins.

• IATA expects a return to profitability for the global airline industry in 2023, as airlines continue to cut losses stemming from the effects of the pandemic to their business in 2022. 

The global aviation industry is set for a bounce back this year as airlines navigate turbulence that has shaken the industry since 2020, threatening to bring down carriers in the market.

Major African airlines have been hard hit since the Covid-19 pandemic struck.

A report by the African Airlines Association (AFRAA) indicates the pandemic hit Africa’s aviation industry in 2021, resulting in an estimated $8.6 billion loss.

While the figure was less than the $10.21 billion loss recorded by the sector in 2020, it was still a 49.8 per cent decline …

Since then the company has pursued a highly aggressive growth strategy constituting of both organic and acquisitive growth. Sibanye in a very short space of time acquired the Cooke operations from Gold One International in 2013 and the Burnstone project from Wits Gold the following year. The aim of this aggressive growth strategy was to produce more sustainable gold operations. 

The story of growth did not stop there. 

Soon the company set its sights on the platinum sector and began to snap up various interests and operations in that space. In 2016 Sibanye acquired the Aquarius Platinum’s Rustenburg operations namely Kroondal mine as well as the Platinum Mile treatment facility in South Africa and in Zimbabwe it took over the Mimosa joint venture with Impala Platinum. Later that year the company also bought the Rustenburg operations of Anglo Platinum.…

With the covid-19 coronavirus global crisis affecting, Africa could be hit harder with a heavy and durable economic toll.

This hit will threaten progress and prospects, widen inequalities between and within countries and worsen current fragilities.

To survive this, the Economic Commission for Africa (ECA) says that African countries need support in preparing for the health crisis, and for the economic fallout.

Coronavirus: African leaders stuck with neglected, outdated healthcare systems

“The measures being taken in Asia, Europe and North America such as physical (social) distancing and regular hand washing will be a particular challenge for countries with limited internet connectivity, dense populations, unequal access to water and limited social safety nets,” notes ECA.

In line with the steps being taken across the globe, African countries are preparing for the worst effects of this pandemic.

To help Africa survive the crisis, ECA says that the G20 must support an immediate …