Browsing: South Africa

The company, founded in 2012, launched its online food ordering platform in 2013. In 2015, it launched its on-demand fast-food delivery app, becoming the first in South Africa to offer this service.

However, in 2020, Orderin officially shut down its consumer business. The brand relaunched last year as a B2B service, following successful projects helping other businesses develop their own delivery services.

The firm has provided delivery services for the likes of McDonalds and Pick n Pay.

The Crypto market in the world is looking ugly.

The bitcoin price fell to a three-month low on January 10, accelerating the slide that started when the Federal Reserve ignited a broad sell-off worth US$300 billion. The bank cautioned that it might move more quickly than previously expected to reverse policy meant to reinforce the economy during the Coronavirus pandemic.

Experts predict that the latest crypto fall will persist for weeks in the Federal Reserve measures continue to be more aggressive.

In June 2020, South Africa got the trial of marijuana off the ground as part of the six herbs that could effectively fight the COVID-19 pandemic.

A 2020 report by the research firm estimates that the marijuana market will be based majorly in the following five countries.

Market size would generate as follows if the required legislations take effect:  Nigeria (US$3.7 billion), South Africa (US$1.7 billion), Morocco (US$900 million), Lesotho (US$90 million), and Zimbabwe (US$80 million).

Tanzania’s cement demand is estimated to have clocked 5.9Mt and is growing fast. Maweni Limestone Ltd will be China’s first…

In Africa, South Africa has the biggest Airbnb market, accounting for half the listings in Africa.
In 2021, Airbnb registered 2.9 million hosts, with 100,000 of those coming from Africa. Approximately 14,000 hosts are now joining every month. It has reported 7 million listings and has spread to over 100,000 cities in 220 countries and regions.
South Africa boasts 43,400 listings and an income of above US$95 million; Morocco has 21,000 listings and an income of above US$22 million; Kenya has 5900 listings and a US$3.9 million income.

In his ruling, Judge Bloem said that Shell had failed to prove the safety of the project against the claims made by environmental experts and the local community, and that there had been a substantial flaw in the consultation process with the locals in the Wild Coast.
Protests against Shell exploration have gained 85,000 signatures with over 35 fuel stations dumping the company.
The local communities expressed their disappointment, saying that their customary rights to the land where they fished and did their religious activities had not been respected. Shell quietly announced the commencement of the seismic survey on November 4, 2021.

The Southern Africa region received the most significant share of Foreign Direct Investment in 2020  Nigeria, South Africa and Angola…

When commodity prices began to soften in later years it seemed more of a blunder to have diversified the metals portfolio of the business than it appears a stroke of genius today.

With softening metal prices came the need to conserve cash and so dividend flows dried up. The company did not cease its expansion plans going so far as to pile on large amounts of United States dollar-denominated debt purchasing US-based platinum miner Stillwater and swallowed up Lonmin in the process. The share price then cratered when news broke that the company had experienced fatalities at its South African mines. In some circles of the investment community, others joked that they would not invest in Sibanye Stillwater as a matter of moral principle.

The share price went down reaching an all-time low of around R 7.

In the cement industry, the South African Government has taken a protectionist stance, banning the import of cement especially for infrastructure projects that it is sponsoring. The ban came from Treasury in October.
This decision has been widely celebrated by the cement sector which has been struggling since 2014. This period is profound in that cheap cement flooded the South African market and reduced the profits of local producers.
These cement producers according to industry body, Cement and Concrete South Africa have been under siege from cheap imports from Pakistan, China, and Vietnam.

Kenya and South Africa have announced the signing of eight new agreements  The agreements are in areas including tourism, migration…